EIN 61-1135362

Kentucky Science and Technology Corporation (KSTC)

IRS 501(c) type
501(c)(3)
Num. employees
35
Year formed
1987
Most recent tax filings
2020-09-01
Description
KSTC is an entrepreneurial company dedicated to enhancing the capacity of people, companies and organizations to develop and apply science and technology and compete responsibly in the global marketplace.
Total revenues
$6,206,221
2020
Total expenses
$6,260,927
2020
Total assets
$21,953,282
2020
Num. employees
35
2020

Program areas at KSTC

Education programs-advancekentucky is a program designed to fund training and incentives for advanced placement (ap) and pre-ap courses in math, Science, and english in Kentucky high schools. The program provides extensive training of teachers, identification and cultivation of lead teachers, and extended time on tasks for students and financial incentives based on academic results to expand the number of Kentucky students from across the state taking and excelling in the various math, Science, and english ap exams.college board is funded by a private, non-profit organization also named the college board. This program helps increase the availability of computer Science courses by offsetting the costs of recruiting and training instructors on teaching an advanced placement computer Science principles course to high school students.code.org is funded by a private, non-profit organization also named code.org. In 2016, kstc became one of code.org's regional partners and received a three-year grant to help ensure all Kentucky's k-12 students have the opportunity to learn computer Science. This grant helps offset the costs of recruiting and training instructors on teaching a computer Science fundamentals course to elementary students and a computer Science discoveries course to middle school students. Veteran's accelerated learning for licensed occupations (vallo) is funded by the u.s department of labor employment and training administration office. This program works with statewide licensing boards and post-secondary training institutions to identify opportunities to streamline the occupational licensing process and develop new accelerated learning programs for the purpose of helping veterans transition into civilian occupations quicker and with less obstruction.
Research and development programskentucky sbir/sttr matching funds program is funded by the Kentucky cabinet for economic development department (ced) for commercialization and innovation and awards matching funds to kentucky-based firms that receive federal small business innovation research (sbir) and small business Technology transfer research (sttr) program awards. The program encourages growth of high-quality, advanced Technology companies by increasing r & d intensity under phase i to make Kentucky small businesses more competitive for phase ii funds, allowing continued Technology and business development during phase i and phase ii gap period, and advancing the prototype development and testing for early entry into the market place. In september 2017, kstc was notified by ced of its intent to transfer the management and oversight of the Kentucky sbir/sttr matching funds program to ced's office of entrepreneurship. A contract between ced and kstc was executed in february 2018 for kstc to manage the transition of the program through june 30, 2018. In june 2018, a contract between ced and kstc was executed calling for kstc to manage all previously issued awards through june 2022.the established program to stimulate competitive research (epscor) administration from the council on postsecondary education (cpe) represents state funds under the Kentucky innovation act (kia) for the coordination and development of epscor. In april of 2018 Kentucky's legislature transferred the epscor's funding and administration to the cabinet for economic development (ced). Kstc continued to administer the epscor program through june 30, 2018. On july 1, 2019, administration of the epscor program was transferred by kstc to ced. The Kentucky Science and engineering foundation (ksef) mission is to build Science and engineering capacity and excellence by investing in basic and pre-commercial emerging research and development, technological innovation and transfer, and human resource development in Kentucky. This project is administered by kstc and funded by the commonwealth of Kentucky through a contract with the council on postsecondary education (cpe). A major component of the foundation is the r & d excellence program. In april of 2018 funding for ksef's administration was transferred from the council of postsecondary education (cpe) to the cabinet for economic development (ced) for the biennium beginning july 1, 2018. In june of 2018, ced informed kstc of its intent to transfer administration of these programs to ce d's office of entrepreneurship. In july of 2018, kstc entered a letter of intent with ced to continue to support existing program participants and executed a contract in january 2019 to assist ced with transitioning future program administration from kstc to ced.
Economic development programsthe knowledge-based economy (kbe) funds are a series of investment funds aimed at promoting and capitalizing early stage Technology commercialization in the commonwealth of Kentucky. Kbe is administered by kstc and funded by the state through a contract with the council on postsecondary education. The funds are dedicated to increasing the number of high Technology companies and products in Kentucky. Components of this program include the Kentucky enterprise fund program, the rural innovation program, and the Kentucky commercialization program. In april of 2018 Kentucky's legislature transferred the funding and administration of these programs from the council of postsecondary education (cpe) to the cabinet for economic development (ced) for the biennium beginning july 1, 2018. In june of 2018, ced informed kstc of its intent to transfer administration of these programs to ced's office of entrepreneurship. In july of 2018, kstc entered a letter of intent with ced to continue to support existing program participants and executed a contract with ced in january 2019 to assist with transitioning future program administration from kstc to ced. In march, 2019, ksct ceased making any new kbe program investments and in april, 2019, returned approximately $14,766,471 in funds held under trust on behalf of the kef programs to the commonwealth of Kentucky, in may, 2020, ced and kstc entered a contract returning administration of the kbe programs to kstc and in june of 2020, ced transferred approximately $13,874,707 to kstc to be held in trust on behalf of the kef program. As a result of this action by ced, kstc has resumed making investments in early-stage Kentucky companies under the kbe program.the procurement and technical assistance (ptac) program is funded by the defense logistics agency (dla) office of small business. Pt a c's objective is to work in cooperation with states, local governments and both profit and nonprofit organizations to expand the number of businesses capable of participating in government contracts.kentucky aerospace industry consortium (kaic) is funded by the Kentucky council of military affairs (kcma) through a federal grant from the u.s. department of defense's office of economic adjustment. Its mission is to create and administer a consortium of aerospace industry participants while also assisting participants in meeting quality and cyber security standards mandated by the department of defense (dod). The consortium was discontinued at kstc during the fall of 2019.kentucky alternative fuel & renewable energy fund program (afre) is funded by the Kentucky cabinet for economic development department for commercialization and innovation for kstc to administer the Kentucky alternative fuel & renewable energy fund program. The purpose of the program is to accelerate knowledge transfer and technological innovation, improve economic competitiveness and economic growth of kentucky-based companies, and to support r & d activities that have a clear potential to lead to commercially successful products, processes, or services specifically in the area of alternative fuels or renewable energy. The program also encourages partnerships and collaborative projects between private enterprises, Kentucky's universities, and research organizations in alternative fuels and renewable energy.lt. Governor's entrepreneurial challenge (lgec) is funded through a combination of state government grants and private sector donations. It is a tiered business pitch competition for all Kentucky high school students grades 9-12. It is intended to introduce students to a realistic competitive business environment, as well as promote business ownership and lifelong learning. In august 2019, kstc entered into an agreement with the lieutenant governor's office to administer all remaining awards for 2017, 2018 and 2019 lgec programs and transfer all responsibility for future lgec programs to the lieutenant governor's office. Idea state university (isu) is a business plan competition funded by the Kentucky cabinet for economic development to conduct a professional, high-quality event for student teams and advisors from Kentucky's public universities. Competition awards and prizes are made to students and ventures on a competitive basis based on evaluations and decisions of expert judges. In july of 2018, kstc entered into an agreement to administer the remaining isu awards from the 2017 and 2018 program and transfer all responsibility for future isu programs to the cabinet for economic development's office of entrepreneurship

Grants made by KSTC

GranteeGrant descriptionAmount
Western Kentucky University Research FoundationEconomic Development / R&D$73,442
University of Pikeville (UPIKE)Economic Development / R&D$3,040
Asbury UniversityEducation$1,500

Who funds Kentucky Science and Technology Corporation (KSTC)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
National Math and Science Initiative (NMSI)College Readiness Program$248,690
Code OrgGrantee To Provide Professional Development and Community Building for K-12 Teachers Using the Code.orcodeorgrg Curriculum and Professional Development Model. Funding 2020-2021 Code.orcodeorgrg Computer Science Discoveries (CSD), Computer Science Principles (CSP) and Admin/counselor Workshops.$32,800
Community Foundation of LouisvilleU02 Management & Technical Assistance$10,000
Federal funding details
Federal agencyProgram nameAmount
Department of DefensePROCUREMENT TECHNICAL ASSISTANCE FOR BUSINESS FIRMS$676,771
Department of LaborEMPLOYMENT SERVICE/WAGNER-PEYSER FUNDED ACTIVITIES$590,259
Department of DefenseINVITATIONAL GRANTS FOR MILITARY-CONNECTED SCHOOLS$262,148
...and 1 more federal grant or contract

Personnel at KSTC

NameTitleCompensation
Steve PelphreyChief Financial Officer / Controller$113,530
Christopher BakerChief Information Officer$95,394
John B. WehrleVice President of Finance and Human Resources$196,098
Anthony MiresExecutive Director, Advancekentucky and LTF State Director$119,967
Kelby PriceExecutive Director, Venture Finance$122,371
...and 10 more key personnel

Financials for KSTC

RevenuesFYE 09/2020
Total grants, contributions, etc.$5,868,726
Program services$313,593
Investment income and dividends$4,946
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$18,956
Total revenues$6,206,221

Form 990s for KSTC

Fiscal year endingDate received by IRSFormPDF link
2020-092021-09-03990View PDF
2019-092020-10-08990View PDF
2018-092019-10-18990View PDF
2017-092018-11-15990View PDF
2016-092017-10-18990View PDF
...and 7 more Form 990s
Data update history
July 22, 2022
Received grants
Identified 2 new grant, including a grant for $248,690 from National Math and Science Initiative (NMSI)
March 30, 2022
Posted financials
Added Form 990 for fiscal year 2020
January 8, 2022
Updated personnel
Identified 3 new personnel
August 22, 2021
Posted financials
Added Form 990 for fiscal year 2019
June 20, 2021
Received grants
Identified 1 new grant, including a grant for $10,000 from Community Foundation of Louisville
Nonprofit Types
Social advocacy organizationsResearch centersHeadquarter / parent organizationsCharities
Issues
Science and technologyCommunity improvementEconomic developmentBusiness and industry
Characteristics
Political advocacyConducts researchLobbyingState / local levelReceives government fundingManagement and technical assistanceTax deductible donations
General information
Address
PO Box 1049
Lexington, KY 40588
Metro area
Lexington-Fayette, KY
County
Fayette County, KY
Website URL
kstc.org/ 
Phone
(859) 233-3502
IRS details
EIN
61-1135362
Fiscal year end
September
Taxreturn type
Form 990
Year formed
1987
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
U30: Physical Sciences, Earth Sciences Research, Services
NAICS code, primary
813319: Social Advocacy Organizations
Parent/child status
Central organization
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