Minority Economic Development Initiative Of Western Kentucky Inc
- Assets
- $179.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Hopkinsville, KY
- Founding
- 12/2009
- Data as of
- 06/2022
- EIN
- 26-3734194
Organization Overview
Minority Economic Development Initiative Of Western Kentucky Inc is located in Hopkinsville, KY. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minority Economic Development Initiative Of Western Kentucky Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Minority Economic Development Initiative Of Western Kentucky Inc generated $53.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.5%) each year. All expenses for the organization totaled $51.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (13.3%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Cummings Treasurer | 0 | $0 | |
Kate Russell Chairperson | 0 | $0 | |
Wendel Lynch Director | 0 | $0 | |
Steve Tribble Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,182 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $431 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $53,613 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $3,782 |
| Professional fees and other payments to independent contractors | $41,015 |
| Occupancy, rent, utilities, and maintenance | $3,345 |
| Printing, publications, postage, and shipping | $908 |
| Other expenses | $2,620 |
| Total expenses | $51,670 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $167,385 |
| Other assets | $0 |
| Total assets | $179,373 |
| Total liabilities | $149,330 |
| Net assets or fund balances | $30,043 |