Kentucky Basketball Hall of Fame

Analysis

Kentucky Basketball Hall of Fame is a registered charity in United States, based in Stanford, KY. It received its IRS tax-exemption ruling in November 2012, 14 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kentucky Basketball Hall of Fame reported income of $387k and spending of $136k, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $256k to $387k (+51%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 1177%. Over the whole period it spent 59% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Kentucky Basketball Hall of Fame sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within KY. Charities of a similar size with the same main cause include Ac Inspire ($387k), Buffalo Turners Inc ($387k) and Grassland Athletic Association Inc ($387k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Other salaries and wages came to $6,900. At year end it held assets of $404k against liabilities of $0, net assets of $404k.