Kentucky Cobras Inc
- Assets
- $27.9k
- Revenue
- $450.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Florence, KY
- Founding
- 03/2019
- Data as of
- 12/2021
- EIN
- 30-1032352
Organization Overview
Kentucky Cobras Inc is located in Florence, KY. The organization was established in 2019. According to its NTEE Classification (N62) the organization is classified as: Basketball, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Cobras 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 12/2021, Kentucky Cobras Inc generated $450.7k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 62.1% each year . All expenses for the organization totaled $449.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION RAISES FUNDS TO SUPPORT COMMUNITY IMPACT PROGRAMS THAT FURTHER ITS MISSION TO EDUCATE, INSPIRE AND ENCOURAGE CHILDREN AND YOUNG ADULTS THROUGHOUT THE COMMONWEALTH OF KENTUCKY PRIMARILY THROUGH TRAINING AND TEAM COMPETITION IN THE SPORT OF BASKETBALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUSTLE BASKETBALL FEATURES PROGRAMS OF ALL LEVELS FROM DEVELOPMENTAL LEAGUES, TO INDIVIDUAL TRAININGS, TO AAU. THE HUSTLE BASKETBALL EXPERIENCE INCLUDES A STAFF OF PROFESSIONAL TRAINERS AND COACHES WHO ARE PASSIONATE ABOUT SEEING KIDS GROW AS PLAYERS AND PEOPLE. THE FOUNDATION PROVIDES A FUN, SAFE, AND MEMORABLE EXPERIENCE FOR ALL PARTIES INVOLVED. THE FOUNDATION BRINGS HIGH QUALITY PLAYERS AND TEAMS TOGETHER TO PLAY BASKETBALL, OFFERING AN ATMOSPHERE UNLIKE ANYTHING IN NKY. THE FOUNDATION IMPACT OVER 1,000 FAMILIES IN THE NKY AND CINCINNATI AREA EVERY YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ty Simpson President | OfficerTrustee | 4 | $0 |
Chris Clemons Board Member | Trustee | $0 | |
Chuck Kinney Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $450,657 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $450,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,586 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,646 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,000 |
| Advertising and promotion | $6,796 |
| Office expenses | $527 |
| Information technology | $546 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $551 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,599 |
| All other expenses | $31,789 |
| Total functional expenses | $449,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,297 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $599 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,896 |
| Accounts payable and accrued expenses | $10,463 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,966 |
| Total liabilities | $12,429 |
| Net assets without donor restrictions | $15,467 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,896 |
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|---|---|---|
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The Empowered Workforce Association Hamilton, VA | $281,260 | $8,487,514 |
Kenneth A Hall And Patricia A Hall Charitable Foundation Norfolk, VA | $61,687,213 | $53,085,247 |
National Association Of Basketball Coaches Kansas City, MO | $7,492,975 | $6,879,648 |
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Lake Of The Ozarks Shootout Sunrise Beach, MO | $47,312 | $973,884 |
Knights Basketball Academy Midwest St Charles, MO | $215,472 | $572,008 |
Kentucky Cobras Inc Florence, KY | $27,896 | $450,667 |
Nova 94 Feet Inc Herndon, VA | $62,716 | $473,698 |
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Va Hokies Sports Organization Inc Manassas, VA | $860 | $379,968 |
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