Kokomo Community Development Corporation
- Assets
- $16.6m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Kokomo, IN
- Founding
- 08/2015
- Data as of
- 12/2023
- EIN
- 46-4036202
Organization Overview
Kokomo Community Development Corporation is located in Kokomo, IN. The organization was established in 2015. 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. Kokomo Community Development Corporation 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 12/2023, Kokomo Community Development Corporation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $982.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kokomo Community Development Corporation has awarded 20 individual grants totaling $12,089,674. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY BASED ECONOMIC DEVELOPMENT PROJECTS:BASEBALL STADIUM FOR SEMI PROFESSIONAL AND OTHER COMMUNITY TEAMS; CITY INFILL RESIDENTIAL PROJECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CITY INFILL RESIDENTIAL HOUSING PROJECT
COMMUNITY ATHLETIC FIELD
CITY REVITALIZATION. REDEVELOP COMMERCIAL AND RESIDENTIAL PROPERTY IN CITY.
PARTICIPATION IN ACQUISITION OF INDUSTRIAL PARK FOR KOKOMO, INDIANA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blake Brutus Treasurer | OfficerTrustee | 2 | $0 |
Andrew Hardie President | OfficerTrustee | 2 | $0 |
Tracy Brown Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,228,529 |
| 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 | $1,228,529 |
| Total Program Service Revenue | $6,000 |
| Investment income | $12,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $343,815 |
| 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 | $1,590,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $887,969 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,285 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $982,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,841,352 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $677 |
| 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 | $13,743,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,585,482 |
| 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 | $5,808,994 |
| Total liabilities | $5,808,994 |
| 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 | $10,776,488 |
| Total liabilities and net assets/fund balances | $16,585,482 |
Grants Awarded
Over the last fiscal year, Kokomo Community Development Corporation has awarded $1,164,744 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
GREATER KOKOMO ECONOMIC DEVELOPMENT ALLIANCE PURPOSE: PURCHASE LAND FOR INDUSTRIAL PARK FOR KOKOMO, INDIANA | $365,469 |
DEMOND INVESTMENTS PURPOSE: COMMUNITY REVITALIZATION | $5,656 |
BRIDGES OUTREACH INC PURPOSE: COMMUNITY REVITALIZATION | $85,000 |
BC INVESTMENT PROPERTIES LLC PURPOSE: COMMUNITY REVITALIZATION | $75,000 |
FLF PROPERTY LLC PURPOSE: COMMUNITY REVITALIZATION | $31,966 |
KOKOMO WHITE BARN LLC PURPOSE: COMMUNITY REVITALIZATION | $200,000 |