The Fund For Covington Inc
- Assets
- $63.8k
- Revenue
- $39.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Covington, KY
- Founding
- 06/2014
- Data as of
- 12/2022
- EIN
- 46-1870633
Organization Overview
The Fund For Covington Inc is located in Covington, KY. The organization was established in 2014. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, 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. Fund For Covington 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 12/2022, Fund For Covington Inc generated $39.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (45.0%) each year. All expenses for the organization totaled $83.5k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND FOR COVINGTON, INC. STRIVES TO EXPAND THE ABILITY OF THE CITY OF COVINGTON TO SERVE ITS RESIDENTS BY EXPANDING ACCESS TO RESOURCES. THE ORGANIZATION ACTS AS A FISCAL AGENT AND PARTNER TO LEVERAGE RESOURCES FOR THE CITIZENRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS TO THE COMMUNITY AND THE CITY OF COVINGTON INCLUDING THE LATINO CENTER OF NKY, SPONSORSHIP OF THE GROUNDWELL SUMMIT, THE ELECTRIC ALLEY PROJECT, PARK BENCHES AND THE PRIDE PARADE.
READ READY COVINGTON PROGRAM (RRC) THE RRC BILINGUAL APPS IS PROVIDED FREE FOR COVINGTON PARENTS THAT PROVIDE ACTIVITIES AND READING EXERCISES FOR KIDS AND HELP PARENTS INTRODUCE READING SKILLS TO THEIR YOUNG CHILDREN. RRC ALSO ORGANIZES LITERACY EVENTS IN HOUSING COMMUNITIES, SOLICITS DONATIONS OF BOOKS TO GIVE OUT, AND HAS INSTALLED SEVERAL SETS OF METAL SIGNS AROUND COVINGTON DISPLAYING LETTERS OF THE ALPHABET THAT ARE COLLECTED BY YOUNG CHILDREN AS PART OF A LITERACY SCAVENGER HUNT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Smith Chairman | OfficerTrustee | 2 | $0 |
Steve Webb Director | Trustee | 2 | $0 |
Ben Oldiges Secretary | OfficerTrustee | 2 | $0 |
Brandon Holmes Treasurer | OfficerTrustee | 2 | $0 |
Tom West Director | Trustee | 2 | $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 | $39,507 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,507 |
| Total Program Service Revenue | $0 |
| 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 | $39,507 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,775 |
| Grants and other assistance to domestic individuals. | $2,028 |
| 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 | $0 |
| 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 | $2,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $180 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,000 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $83,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,733 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $7,458 |
| Net Land, buildings, and equipment | $6,600 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,791 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $63,791 |
| Total liabilities and net assets/fund balances | $63,791 |