Kentucky Horse Park Foundation Annual Report

Page 1

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.

2 KENTUCKY HORSE PARK FOUNDATION

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.

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

4 KENTUCKY HORSE PARK
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

6 KENTUCKY HORSE
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.

8 KENTUCKY HORSE PARK FOUNDATION

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.”

12 KENTUCKY HORSE PARK
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.

14 KENTUCKY HORSE PARK FOUNDATION

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

ANNUAL REPORT 15
4075 Iron Works Parkway Lexington, Kentucky 40511
859-255-5727 khpfoundation.org
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.