One East Kentucky Corporation
- Assets
- $683.4k
- Revenue
- $778.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Paintsville, KY
- Founding
- 01/2016
- Data as of
- 12/2023
- EIN
- 47-4557366
Organization Overview
One East Kentucky Corporation is located in Paintsville, KY. The organization was established in 2016. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, One East Kentucky Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One East Kentucky 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, One East Kentucky Corporation generated $778.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $829.9k during the year ending 12/2023. While expenses have increased by 12.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EXCLUSIVE MISSION OF ONE EAST KENTUCKY IS TO RECRUIT INDUSTRY AND INVESTMENT JOBSTO EASTERN KENTUCKY THROUGH THE IMPLEMENTATION OF A 5-YEAR ECONOMIC DEVELOPMENT STRATEGY. ONE EAST KENTUCKY IS A 9-COUNTY REGIONAL ORGANIZATION COMPRISED OF PRIVATE BUSINESSES AND LOCAL CHAMBERS OF COMMERCE.ONE EAST KENTUCKY IS A 501(C)3 NON-PROFIT, PRIVATELY FUNDED REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION. THE NINE COUNTY AREA INCLUDES: FLOYD, KNOTT, JOHNSON, LAWRENCE, LETCHER, MAGOFFIN, MARTIN, PERRY AND PIKE. WE ARE GOVERNED BY A 13-MEMBER BOARD OF DIRECTORS ELECTED BY INVESTORS OF THE ORGANIZATION.ONE EAST KENTUCKY CHAMPIONS THE ECONOMY, MARKETS THE REGION FOR ATTRACTION OF NEW COMPANIES, AND ADVOCATES FOR ECONOMIC DEVELOPMENT ON A COLLECTIVE, REGIONAL LEVEL. THE ORGANIZATION BEGAN AS A PARTNERSHIP OF FIVE CHAMBERS OF COMMERCE HAZARD/PERRY COUNTY CHAMBER OF COMMERCE, FLOYD COUNTY CHAMBER OF COMMERCE, LETCHER COUNTY CHAMBER OF COMMERCE, PAINTSVILLE/JOHNSON COUNTY CHAMBER OF COMMERCE AND SOUTHEAST
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXCLUSIVE MISSION OF ONE EAST KENTUCKY IS TO RECRUIT INDUSTRY AND INVESTMENT JOBSTO EASTERN KENTUCKY THROUGH THE IMPLEMENTATION OF A 5-YEAR ECONOMIC DEVELOPMENT STRATEGY. ONE EAST KENTUCKY IS A 9-COUNTY REGIONAL ORGANIZATION COMPRISED OF PRIVATE BUSINESSES AND LOCAL CHAMBERS OF COMMERCE.ONE EAST KENTUCKY IS A 501(C)3 NON-PROFIT, PRIVATELY FUNDED REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION. THE NINE COUNTY AREA INCLUDES: FLOYD, KNOTT, JOHNSON, LAWRENCE, LETCHER, MAGOFFIN, MARTIN, PERRY AND PIKE. WE ARE GOVERNED BY A 13-MEMBER BOARD OF DIRECTORS ELECTED BY INVESTORS OF THE ORGANIZATION.ONE EAST KENTUCKY CHAMPIONS THE ECONOMY, MARKETS THE REGION FOR ATTRACTION OF NEW COMPANIES, AND ADVOCATES FOR ECONOMIC DEVELOPMENT ON A COLLECTIVE, REGIONAL LEVEL. THE ORGANIZATION BEGAN AS A PARTNERSHIP OF FIVE CHAMBERS OF COMMERCE HAZARD/PERRY COUNTY CHAMBER OF COMMERCE, FLOYD COUNTY CHAMBER OF COMMERCE, LETCHER COUNTY CHAMBER OF COMMERCE, PAINTSVILLE/JOHNSON COUNTY CHAMBER OF COMMERCE AND SOUTHEAST KENTUCKY CHAMBER OF COMMERCE. EVENTUALLY, THIS LEAD TO THE CREATION OF A PRIVATE ORGANIZATION FUNDED BY THE PRIVATE BUSINESSES AND PARTNERS IN THESE NINE COUNTIES.THESE PARTNERS RECOGNIZED THE OPPORTUNITY TO BETTER SERVE PROSPECTIVE BUSINESSES THROUGH REGIONAL SERVICE PROGRAMS AND MARKETING. THROUGH ONE EAST KENTUCKY, WE ARE PROUD TO COORDINATE EFFORTS FOR A GREATER IMPACT ON THE ECONOMIC GROWTH OF OUR REGION. ONE EAST KENTUCKY WORKS CLOSELY WITH THE KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT, SHAPING OUR APPALACHIAN REGION (SOAR), SOUTHEAST KENTUCKY ECONOMIC DEVELOPMENT, AEP KENTUCKY POWER AND MANY OTHER ORGANIZATIONS TO SECURE NEW PROJECTS FOR OUR COMMUNITIES. SOAR'S INDUSTRIAL DEVELOPMENT STRATEGY IS ANSWERED THROUGH THE IMPLEMENTATION OF PROGRAMS AT ONE EAST KENTUCKY FOR OUR NINE COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colby Kirk President & CEO | Officer | 40 | $138,354 |
W Allen Gillum Director | Trustee | 0 | $0 |
Paul Patton Director | Trustee | 0 | $0 |
Mark Gooch Secretary/treas | Trustee | 0 | $0 |
Bill Grigsby Director | Trustee | 0 | $0 |
Joseph Grossman Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $475,302 |
| Government grants | $302,755 |
| 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 | $778,057 |
| 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 | $778,057 |
| 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. | $138,354 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $223,655 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,115 |
| Payroll taxes | $22,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $297,448 |
| Advertising and promotion | $22,420 |
| Office expenses | $18,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $36,772 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,793 |
| Insurance | $5,544 |
| All other expenses | $1,193 |
| Total functional expenses | $829,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,836 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $342,600 |
| Accounts receivable, net | $70,700 |
| 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 | $3,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $683,400 |
| Accounts payable and accrued expenses | $4,031 |
| 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 | $4,082 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,113 |
| Net assets without donor restrictions | $591,926 |
| Net assets with donor restrictions | $83,361 |
| 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 | $683,400 |