KENTUCKY HORSE PARK FOUNDATION
2022 ANNUAL REPORT
The Kentucky Horse Park Foundation is a non-profit 501(c)(3) organization dedicated to enhancing, expanding, and improving the Kentucky Horse Park.
Since its inception in 1985, the Kentucky Horse Park Foundation has raised over $40 million, helping make the Kentucky Horse Park the leading equestrian facility of its kind in the world.
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MESSAGE FROM THE CHAIR
From renovating facilities to planting trees to serving children, we have a lot to celebrate at the Kentucky Horse Park Foundation (“Foundation”).
Thank you for sharing our passion for the Kentucky Horse Park (“Park”) and for entrusting the Foundation with your donor dollars which will help make a positive impact on future generations. Not only a venue for honoring the horse, but also an institution with deep impact in the community, the Park remains one of our region’s greatest cultural gems.
This annual report celebrates all that we have been able to accomplish together at the Park, and we hope you will enjoy reading about your donor dollars at work.
I encourage you to take a moment to look to the future as there are a number of impactful projects on the horizon, and we need your help to see them to fruition. As always, I am overwhelmingly grateful for the Foundation family that stands by the Park today and helps us plan for tomorrow. I truly believe that the Park’s best days are ahead of it, and I thank you for joining us on this ride.
Clay Green Chair
ANNUAL REPORT 3
CONTENTS
TABLE OF
YOUR IMPACT 4 BY THE NUMBERS 6 WHAT’S AHEAD 8 FINANCIALS 10 IN YOUR WORDS 12 GET MORE INVOLVED 14 LEADERSHIP 15
YOUR IMPACT Upgrades to
Through the support of donors, the Foundation awarded over $1.2 million in grants to the Park during the 2021-2022 fiscal year. This support was directed to the following endeavors:
Competition Rings
Maintenance Equipment
Purchase and Planting of Trees
International Museum of the Ho
Kentucky Horse Park Mustang
Purchase of Dual Laser Leveler
Purchase of Horses for Education
Kentucky Horse Park Field Trip
AstroTurf Installation Covered
Parade of Breeds/Horse Drawn
Mounted Police Equipment
Hall of Champions Horse Care
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FOUNDATION
ANNUAL REPORT 5 $450,000 $90,000 $396,379 rse $88,644 Program $30,000 $30,950 Troop $51,555 Fund $21,500 Arena $18,885 Tours Tack & Horse Care $15,092 $8,139 $13,864
BY THE NUMBERS
115 Horses that call the Kentucky Horse Park home
100 Trees planted in 2022 at the Kentucky Horse Park
188,725 Cumulative volunteer hours given to the Park through the KHP Volunteer Program
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PARK FOUNDATION
120,000 Vistors who attend Southern Lights annually
16,881 The number of children who have visited the Kentucky Horse Park through the KHP Field Trip Fund
28,000 Equestrians that competed in 2022 at the Kentucky Horse Park
ANNUAL REPORT 7
WHAT’S AHEAD
Trees
The Foundation and the Park will work together to ensure that Park grounds are maintained and conserved for future generations through the Park’s commitment to green initiatives.
Barns
The Park recognizes the ever-increasing need to renovate and replace competition barns, and it has placed this effort as a top priority over the next year. The Foundation stands committed to assist the Park in fundraising for this important project.
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Community
The Foundation is committed to the expansion of the Mustang Troop with the hope that underserved youth from our community feel the emotional, spiritual, and vocational impact of horses.
Renovation
Funding support from the Commonwealth has created momentum and renewed interest in renovating the Visitor Information Center and International Museum of the Horse. The Foundation will continue to support the Park’s efforts at much-needed renovation.
ANNUAL REPORT 9
SOURCES OF 2022 REVENUE
10 KENTUCKY HORSE PARK FOUNDATION FINANCIAL TOTAL $2,082,423
Program Event Revenue Contributions Unrestricted Contributions-Donor Designated Other Revenue FUNCTIONAL EXPENSE Program Expense G & A Expense Fund Raising Expense 81% FY 18/19 FY 19/20 FY 20/21 FY 21/22 12% 7% 7% 3% 5% 10% 8% 9% 83% 86% 89% $974,670 $145,109 $862,644 $100,000
STATEMENT OF FINANCIAL POSITION
ANNUAL REPORT 11
December 31, 2022 - unaudited 2022 ASSETS Cash & Equivalents $ 1,302,932 Accounts ReceivableInvestments 10,263,912 Prepaid Expenses 6,832 Fixed Assets 420,974 Total Assets $ 11,994,650 LIABILITIES Liabilities Accounts Payable 1,039 Other Current Liabilities 170,676 Total Liabilities 171,715 NET ASSETS Without Donor Restricted $ 9,235,523 With Donor Restictions 2,587,412 Total Net Assets 11,822,935 Total Liabilities & Net Assets $ 11,994,650
IN YOUR WORDS
MAN O’ WAR SOCIETY
The Man o’ War Society is dedicated to supporting day-to-day operations at the Park, and essential for bridging the gap between support provided by the Commonwealth of Kentucky, earned income, and the needs of the Park.
Mike and Anne Hampton
”We were asked to contibute at a time when the Land Rover Kentucky Three Day Event might not have happened. We thought how important this competition has always been to our family and to Kentucky in general. Additionally, we wanted to make sure all the riders who worked so hard got a chance to participate in this prestigious 5-star event. This led us to support the Kentucky Horse Park Foundation.”
CHAMPIONS’ CIRCLE SOCIETY
The Champions’ Circle Society recognizes those individuals who have included the Foundation in their estate plans or have contributed to the Foundation through a life-income gift.
Austin and Janie Musselman
“Having our own farm, we know how troublesome and expensive it can be to operate such a large facility. We want the Kentucky Horse Park to be there forever for people to enjoy. As times change, so too do the things people choose to support. We feel it is important for the Kentucky Horse Park to be endowed for the future and to be ensured for the next generation.”
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FOUNDATION
NINA BONNIE ENDOWMENT
The Nina Bonnie Endowment provides a permanent revenue stream so that Park facilities are maintained continuously, and its venues, attractions and programs are secured for future generations to enjoy.
Dr. Stephanie Russo
“I support the Nina Bonnie Endowment because the Kentucky Horse Park wouldn’t be here without the early leadership of Nina and Ned Bonnie. I also support it because I like pockets of principle and the concept of building up the principle and living off its earnings. That’s just solid money management, and I am happy to support this effort.”
SPECIAL PROJECTS
There are a number of special projects that require the support of our donors. Outreach programs, green initiatives, educational efforts, and equine departments are just a few of the special projects in need of support.
Tom and Roxanne Collins
“From our association with the Park, we gained enough confidence to get our own horses. We support the Park because it supports so many equine activities and because we have learned first-hand that the staff is dedicated to taking great care of the horses.”
ANNUAL REPORT 13
GET INVOLVED
How can you get more involved in the work we do?
VISIT
The Kentucky Horse Park to see your donation at work.
JOIN
Man o’ War Society of Annual Giving and The Champions’ Circle Society.
FOLLOW
KHPF on social media.
VOLUNTEER
Through the Kentucky Horse Park Volunteer Program.
ATTEND
Park and Foundation events held throughout the year.
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LEADERSHIP
KENTUCKY HORSE PARK FOUNDATION BOARD OF DIRECTORS
Officers
Clay Green, Chair
Andrew Jacobs, Vice Chair
Nicole Pieratt, Secretary
Orson Oliver, Treasurer
Directors
Hanzly M. Albina
W. True Baker, DVM, DACVS
Ann Bakhaus
James C. Baughman, Jr.
Jane Beshear
Demetria N. Blair
W. Buff Bradley
Derek Braun
Stuart E. Brown II, DVM
Elizabeth Caldwell
LuLu Lenihan Davis
Barclay de Wet
Catharine Peterson Dryden
Tawana Edwards
Jennie Garlington
Hutton Goodman
Bill Hilliard
Meg Jewett
Bill Justice
Teri Kessler
Deborah H. Long
Lisa Lourie
Deirdre Lyons
Jennifer S. Madden
Zeff Maloney
Judy Miller
Janie Musselman
Maegan F. Nicholson
Mary Jane Nuckols
Katherine O’Brien
Eloise Penn
Tom Riddle, DVM
Walt Robertson, Jr.
Walt Robertson, Sr.
Amy Dix Rock
David B. Rudder
Justin Sautter
Martha Slaughter
Deborah Spike-Pierce, DVM, MBA
Richard Sturgill
Jenny W. Sutton
Donna Ward
Jane Winegardner
Marian Zeitlin
Advisory Council
Nina Bonnie
Alex Boone
Caroline Boone
Luther Deaton, Jr.
Greg Goodman
Linda Green
Mary Guinness
Dell Hancock
Misdee Wrigley Miller
Greg Simon
Howard Simpson
Staff
Kathy Meyer, Executive Director
Sidney Barnett, Volunteer and Outreach Programs Director
Elizabeth Bartlett, Director of Development
Hope Beers, Executive Management, Project Analyst
Ashlea Beeson, Development and Logistics Manager
Chris Nentwick, Database and Southern Lights Manager
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4075 Iron Works Parkway Lexington, Kentucky 40511
859-255-5727 khpfoundation.org