Organizations Filed Purposes:
TO ACQUIRE REAL ESTATE AND CONSTRUCT A PERFORMING ARTS AND ENTERTAINMENT FACILITY IN BOWLING GREEN KENTUCKY, WHICH WILL SERVE THE CHARITABLE AND EDUCATIONAL NEEDS OF THE PEOPLE OF SOUTH CENTRAL KENTUCKY.
THIS ENTITY, WHICH WAS DESIGNED TO SUPPORT SKYPAC INC (EIN 61-1381629) ALONGSIDE SKYPAC LENDER (EIN 45-3814566) HELD A CAPITALIZED LEASE FOR ASSETS AND THE RELATED DEBT. THESE NOTES WERE FORGIVEN AND THE OFFSETTING DIFFERENCE FOR THE NOTES AND THE BOOK VALUE OF THE ASSETS RESULTED IN BOOK INCOME OF $4,264,540. THERE WAS NOT ANY CASH RECEIVED BUT THIS ENTITY AND PREVIOUSLY MENTIONED SKYPAC LENDER WERE MERGED INTO THEIR SUPPORTING ORGANIZATION, SKYPAC INC. SKYPAC INC IS A GOVERNMENTAL AGENCY AND THE BUILDING ASSETS HAD ALWAYS BEEN TITLED IN THAT AGENCY'S NAME. THIS ENTITY WAS USED TO HOLD THE DEBT WHICH WAS FORGIVEN.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Rick Mccue | DIRECTOR | 5 | $0 |
| Douglas Gorman | SECRETARY/TREASURER | 1 | $0 |
| James Kaelin | CHAIR | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201940929349300229_public.xml