Better Business Bureau Report for
Kentucky Science Center

Better Business Bureau Report issued November 2014
Better Business Bureau Report expires November 2015


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Kentucky Science Center
Address: 727 West Main Street
  Louisville, KY 40202
Phone: 502-561-6100
Web Address: www.louisvillescience.org
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Better Business Bureau Comments

Formerly known as:Louisville Science Center

Year, State Incorporated: 1980, Kentucky
Affiliates: None
Stated Purpose: Kentucky Science Center encourages people of all ages to do science in engaging, educational and entertaining ways to inspire a lifetime of learning.

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Evaluation Conclusions

              

Kentucky Science Center meets the 20 Standards for Charity Accountability.
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Programs

              

Already recognized as a leader in inquiry-based learning, the Kentucky Science Center is advancing a science literacy campaign to encourage people of all ages to explore science in everyday life. The Science Center has a rich history, from its founding as a “cabinet of curiosities” in the Public Library System of Kentucky in 1871 to its current status as the region’s leading resource for informal science education. Boasting at one time little more than an Egyptian mummy and a 16,000-piece mineral collection, the Science Center is now the largest hands-on science center in Kentucky, with about 150 interactive exhibits and activity stations, teaching laboratories, educational programs, the state's only digital four-story Theater, and distance learning capabilities. Through interactive exhibits and engaging programs for children, families and adults, the Kentucky Science Center is committed to growing a scientifically literate community that investigates, questions, and challenges. Programs for students and teachers correspond to the core curriculum areas of physical, natural and life sciences that are treated in the Science Center’s permanent exhibits.

For the fiscal year ended June 30, 2014, Kentucky Science Center's program expenses were:

  
Educational programs 832,391
Facilities 738,602
Depreciation - Theater, exhibits and science education wing 689,970
Marketing 558,196
Visitor Services 328,424
Theater 173,325
Gift Shop 86,368
Membership 45,106
ThunderBlast 30,203
Exhibits 10,957
Rentals 3,202
Total Program Expenses: $3,496,744
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Governance

              

Chief Executive : Joanna Haas, Executive Director
Compensation*: 
$167,779

Chair of the Board: Tim Condon
Chair's Profession / Business Affiliation: Director of Internal Audit

Board Size: 30

Paid Staff Size: 82

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, grant proposals, internet appeals and memberships. The Kentucky Science Center also receives a substantial amount of earned revenue from admissions, gift shop, school groups, rentals, parking, etc.
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $2,240,167, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Kentucky Science Center's audited financial statements for the fiscal year ended June 30, 2014.

Net assets as reported below include $3,468,118 in unrestricted net assets, $1,735,561 in temporarily restricted net assets, and $407,507 in permanently restricted net assets.

Assets include $4,055,790 invested in property and equipment, net.



Source of Funds  
City government 937,500
Admissions 807,902
School groups, programs 765,557
Corporate and other private support 730,779
Other earned revenue 683,354
Memberships 463,235
Fundraising events, net 72,413
State and federal grants 36,240
Total Income $4,496,980


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Uses of Funds as a % of Total Expenses

Programs: 67%  Fund Raising: 2%  Administrative: 15%  Other Expenses: 16%

Total income $4,496,980
Program expenses $3,496,744
Fund raising expenses 81,400
Administrative expenses 742,929
Other Expenses 797,972
Total expenses $5,119,045
Expenses in Excess of Income (622,065)
Beginning net assets 6,233,251
Ending net assets 5,611,186
Total liabilities 949,510
Total assets $6,560,696


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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