Lexington, KY   |
GuideStar Charity Check


EIN: 45-3567607


Our mission is to help family members to create a safe, secure future for loved ones with a disability.  Putting together the financial, legal and personal aspects of a plan is challenging.  We operate a not-for-profit pooled special needs trust fund for the benefit of any Kentuckians with disabilities, using the person's own funds or funds of a family member.  We provide information about special needs or supplemental needs trusts, and qualifying income trusts, to Kentuckians with disabilities and their families, facilitate establishment of a loving and caring personal network in the life of the loved one, provide referrals to professionals for services, as appropriate, and work to create greater community awareness of the contributions people with disabilities make to our society.

Ruling year info


Executive Director


Main address


Lexington, KY 40503 USA

Show more contact info



Subject area info

Health care management

Financial services

Developmental disability services

Unknown or not classified

Population served info

Older adults

People with disabilities

NTEE code info

Financial Institutions/Services (Non-Government Related) (W60)

Developmentally Disabled Services/Centers (P82)

Management & Technical Assistance (E02)

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Life Plan of Kentucky, Inc aims to protect eligibility for disability related benefits by providing a protected place for inheritances, personal injury settlements and other sources of funds. We also work to connect our clientele with services and the resources they need to live in the community.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Trustee of Special Needs Trust Accounts

Staff time is devoted to explaining and advising potential account holders of the role of a special needs trust in maintaining a person's eligibility for government services as well as the actual establishment of individual sub-accounts within the Trust.    Requests for sub-account distributions have to be reviewed and approved to ensure compliance with the terms and provisions of Federal and State law as well as accounting for all funds received and disbursed on behalf of a specific beneficiary.,  Quarterly reports have to be sent to account holders documenting income and dispursements as well as documentation for the filing of tax returns.

Population(s) Served
People with disabilities

People seeking assistance from Life Plan are often in need of education, guidance and consultation regarding life planning issues for their family member with a disability in the context of their entire family structure.

Population(s) Served
People with disabilities

Where we work

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Life Plan of Kentucky, Inc. is a non-profit organization devoted to creating Special Needs Trusts for people with disabilities and their families.  We are creating a legacy of dignity and love.

Under current Federal and State Law, a person with disabilities havinag more that $2,000 in countable assets may not be eligible for Medicaid assistance.  With a Special Needs Trust, you (or your loved one) can receive the benefit of assets placed into a sub-account with Life Plan of Kentucky and still receive Medicaid or Supplemental Security Income (SSI).

As a non-profit organization, (501 (c)(3)), Life Plan can serve as a Trustee for: First Party Trusts - A person with the disability funds with his/her money.Third Party Trusts - A family member or other funds the trust. Trusts can be funded with money from:Inheritance                                    Personal Injury SettlementsLife Insurance                               Wages EarnedFinancial Gifts                              Restitution PaymentsSocial Security Back Payments

Life Plan of Kentucky serves many families with special needs throughout the bluegrass region.  We help safeguarding a person's eligibility for benefits and offer peace of mind to family and loved ones.  Please visit our Website at to see more information and download documents.


Fiscal year: Jan 01 - Dec 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021 info

SOURCE: IRS Form 990


Average of 0.63 over 8 years

Months of cash in 2021 info

SOURCE: IRS Form 990


Average of 4.6 over 8 years

Fringe rate in 2021 info

SOURCE: IRS Form 990


Average of 4% over 8 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990


Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data


Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data


Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of LIFE PLAN OF KENTUCKY INC’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021
Unrestricted surplus (deficit) before depreciation $29,910 $151,341 $85,673 $200,997
As % of expenses 15.3% 55.9% 29.5% 60.9%
Unrestricted surplus (deficit) after depreciation $29,910 $150,780 $84,021 $199,345
As % of expenses 15.3% 55.6% 28.8% 60.1%
Revenue composition info
Total revenue (unrestricted & restricted) $225,168 $422,134 $373,982 $526,567
Total revenue, % change over prior year 0.0% 87.5% -11.4% 40.8%
Program services revenue 95.4% 98.7% 88.7% 98.3%
Membership dues 0.0% 0.0% 0.0% 0.0%
Investment income 0.0% 0.0% 0.2% 0.3%
Government grants 0.0% 0.0% 8.8% 0.0%
All other grants and contributions 4.6% 1.3% 2.3% 1.4%
Other revenue 0.0% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $195,258 $270,793 $290,241 $329,778
Total expenses, % change over prior year 0.0% 38.7% 7.2% 13.6%
Personnel 72.5% 67.9% 73.5% 71.4%
Professional fees 0.9% 0.7% 1.6% 1.4%
Occupancy 7.6% 8.7% 8.4% 7.6%
Interest 0.3% 0.1% 0.0% 0.0%
Pass-through 0.0% 0.0% 3.4% 8.4%
All other expenses 18.6% 22.6% 13.2% 11.2%
Full cost components (estimated) info 2018 2019 2020 2021
Total expenses (after depreciation) $195,258 $271,354 $291,893 $331,430
One month of savings $16,272 $22,566 $24,187 $27,482
Debt principal payment $5,000 $10,000 $0 $0
Fixed asset additions $0 $11,120 $0 $0
Total full costs (estimated) $216,530 $315,040 $316,080 $358,912

Capital structure indicators

Liquidity info 2018 2019 2020 2021
Months of cash 3.1 7.9 9.8 15.7
Months of cash and investments 3.1 7.9 10.9 16.9
Months of estimated liquid unrestricted net assets 2.5 8.0 11.0 17.0
Balance sheet composition info 2018 2019 2020 2021
Cash $50,315 $178,283 $236,622 $431,811
Investments $0 $0 $27,333 $33,141
Receivables $0 $0 $0 $0
Gross land, buildings, equipment (LBE) $12,325 $23,446 $23,446 $23,446
Accumulated depreciation (as a % of LBE) 100.0% 55.0% 62.0% 69.1%
Liabilities (as a % of assets) 19.8% 0.0% 0.0% 0.0%
Unrestricted net assets $40,545 $191,325 $275,346 $474,691
Temporarily restricted net assets $0 N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A
Total restricted net assets $0 $0 $0 $0
Total net assets $40,545 $191,325 $275,346 $474,691

Key data checks

Key data checks info 2018 2019 2020 2021
Material data errors No No No No


The people, governance practices, and partners that make the organization tick.

Form 1023/1024 is not available for this organization

Executive Director


Karen L. Perch, has her PhD from Kansas State University and her law degree from the University of Kentucky.  For many years, Ms. Perch has worked with individuals and families who have members with special needs, helping them to improve the quality of their lives.  The Executive Director works with parents who want to do everything they can to protect their loved ones with special needs when the parents are dancing with the angels. For many families, finding qualified people to manage funds for their child is not always easy.  For that reason, Ms. Perch assisted the Board of Directors of Life Plan to establish itself as a non-profit agency able to tackle the task of serving as trustee for those in need.  She now serves as Executive Director, working with individual families, speaking to groups of parents, care managers, and others, and dealing with the day to day management of the organization.

Number of employees

Source: IRS Form 990


Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.


Board of directors
as of 06/29/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Nick Woods

Fifth Third Bank

Term: 2018 - 2021

Nicholas Woods

Community Trust Wealth & Trust Management

Amy Dougherty

Bluegrass Elderlaw, PLLC

Karen L. Perch

Executive Director

Jennifer Garland


Kevin Johns

Wyatt, Tarrant & Combs

Elise Kalika

community volunteer

Stefan Hendrickson

financial adviser

Jennifer Gilmore

financial adviser

Tina Scott

A-1 Case Management

Traci Brewer


Cameron Hamilton


Rachael Jones

Social Work

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Not applicable
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 6/29/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.


The organization's leader identifies as:

Gender identity

Race & ethnicity

No data

Gender identity

No data


No data

Sexual orientation

No data


No data

Equity strategies

Last updated: 06/29/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Policies and processes
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.