KENTUCKY HORSE PARK FOUNDATION
2023 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 maintaining our grounds 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. Let’s work together to renovate barns, serve more children, and honor the horse.
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.
TABLE OF CONTENTS
Clay Green Chair
ANNUAL REPORT 3
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
Through the support of donors, the Foundation awarded over $670,000 in grants for the purchase of the following in 2023:
Maintenance Equipment
Replacement of Breeds Barn Stall
Visitor Information Center Technology
Purchase of Accessible Horse Drawn
Kentucky Horse Park Mustang Troop
Purchase of Horses Building Upgrades
Memorial for Go For Gin
Kentucky Horse Park Field Trip
International Museum of the Horse
Parade of Breeds Costumes
Parade of Breeds/Horse Drawn Tours
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ANNUAL REPORT 5 $357,465 Technology Upgrades $40,000 Stall Doors $100,000 Drawn Trolleys $40,000 $20,500 $25,000 Troop $32,750 $17,500 Trip Fund $11,458 Horse Programs and Projects $10,000 Tours Tack and Horse Care $4,101 $8,100
BY THE NUMBERS
130 Horses that call the Kentucky Horse Park home
630 The number of youth from underserved communities who cared for a horse for the very first time through the Kentucky Horse Park Mustang Troop
195,783 Cumulative volunteer hours given to the Park through the KHP Volunteer Program
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120,000 Vistors who attend Southern Lights annually
21,206
The number of children who have visited the Kentucky Horse Park through the KHP Field Trip Fund
28,000 Equestrians that competed in 2023 at the Kentucky Horse Park
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WHAT’S AHEAD
Trees
The Foundation and the Park are working together to ensure that Park grounds are maintained and conserved for future generations through the Park’s commitment to green environmental initiatives.
Barns
The Park began its efforts to replace competition barns in 2023. This will continue to be a priority in 2024. 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.
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SOURCES OF 2023 REVENUE
Program Event Revenue Contributions Unrestricted Contributions-Donor Designated Other Revenue
FUNCTIONAL EXPENSE
Program Expense G & A Expense Fund Raising Expense
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FINANCIAL TOTAL $2,470,873
83% FY 20/21 FY 21/22 FY 22/23 10% 7% 3% 5% 5% 8% 9% 9% 89% 86% 86% $1,251,693 $44,360 $1,108,543 $66,277 FY 19/20
STATEMENT OF FINANCIAL POSITION
ANNUAL REPORT 11
December 31, 2023 - unaudited 2022 1,302,93210,263,912 6,832 420,974 $11,994,650 1,039 170,676 171,715 9,235,523 2,587,412 11,822,935 $11,994,650 2023 ASSETS Cash & Equivalents 839,036 Accounts Receivable 118,264 Investments 12,107,192 Prepaid ExpensesFixed Assets 746,024 Total Assets $13,810,516 LIABILITIES Accounts Payable 10,939 Other Current Liabilities 116,919 Total Liabilities 127,858 EQUITY Without Donor Restricted 10,628,836 With Donor Restictions 3,053,822 Total Equity 13,682,658 Total Liabilities & Equity $13,810,516
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.
Alex Boone
”The Kentucky Horse Park stands as one of the region’s greatest cultural gems and one of the equine world’s most valuable facilities. My family and I have supported the Park for many years with our time and resources because we understand how necessary that support is to maintain the Park today while also celebrating its past and preserving its future. My annual gift to the Man o’ War Society is just one way in which I am able to help this icon that means so much to all of us.”
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.
Anne Montgomery and Alston Kerr
Alston shares, “Mother loved the Kentucky Horse Park and the Foundation. She met so many wonderful friends through the years who always made her feel welcome and special. The Kentucky Three-Day Event was one of her favorite weekends all year long, and she never wanted to miss it. Mother was always happy to support the Park through her charitable giving and estate planning. It brings me great joy to know her legacy will impact the Park for future generations through the Champions’ Circle Society. I know it’s exactly what she would have wanted.”
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Mardis Gras 2017
Alex with his daughters Catie and Ali
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.
Deirdre Lyons
“Our family has a long history of supporting and partnering with the
Horse Park in many capacities. One initiative that is particularly special to
is the Mustang Troop. I am always touched to hear the stories of underserved youth that experience the joy of horses for the very first time through this special program, and I often see the delight in children’s eyes when something wonderful happens. It is my hope that supporting the Mustang Troop will provide life changing experiences for youth that have experienced inconceivable trauma and hardship, and I am honored to further the effort.”
OTHER WAYS TO GIVE
Lisa Lourie
“I choose to support the Kentucky Horse Park because I truly believe that
the Park thrives, all of us in the equine industry benefit. I am quite familiar
the incredible challenges associated with managing a working horse farm,
I know that unrestricted gifts enable the Park to meet those challenges as
arise, while also planning for the future. I am happy to support the Park
my time and resources because I believe that a “win” for the Park is a
all of us.”
There are number of other ways to support the Foundation, including the Nina Bonnie Endowment which 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.
ANNUAL REPORT 13
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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
On social media: @kentucky_horse_park_foundation @khpfoundation
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
Chris Nentwick, Database and Southern Lights Manager
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4075 Iron Works Parkway Lexington, Kentucky 40511 859-255-5727 khpfoundation.org