Lees College Inc
- Assets
- $8.1m
- Revenue
- $289.1k
- Investments
- $7.4m
- Employees
- 0
- Location
- Jackson, KY
- Founding
- 04/1950
- Data as of
- 06/2023
- EIN
- 61-0447250
Organization Overview
Lees College Inc is located in Jackson, KY. The organization was established in 1950. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lees College 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 06/2023, Lees College Inc generated $289.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $487.9k during the year ending 06/2023. While expenses have increased by 6.9% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO HAZARD COMMUNITY TECHNICAL COLLEGE IN ORDER TO FULFILL SCHOLARSHIPS, FLOOD RELIEF, AND GENERAL USE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles M Derrickson Director | 0 | $0 | |
Mr Harold Holbrook Secretary | 0 | $0 | |
Mr Charles Herald Chairman | 0 | $0 | |
Mr J Hagan Codell Trustee | 0 | $0 | |
Judge Sara Walter Combs Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $123,128 |
| Interest on Savings | $174,791 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$51,098 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $42,253 |
| Total Revenue | $289,074 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,527 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25,537 |
| Total operating and administrative expenses | $134,968 |
| Contributions, gifts, grants paid | $352,954 |
| Total expenses and disbursements | $487,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,421 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $5,555 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $203,176 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $721,641 |
| Total assets | $8,139,138 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1 |
| Total liabilities | $1 |
Grants Awarded
Over the last fiscal year, Lees College Inc has awarded $352,954 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HAZARD COMMUNITY AND TECHNICAL COLL PURPOSE: PROVIDE FUNDING FOR FLOOD RELIEF | $75,000 |
HAZARD COMMUNITY AND TECHNICAL COLL PURPOSE: FUNDING FOR GENERAL NEEDS OF HAZARD COMMUNITY AND TECHNICAL COLLEGE | $200,000 |
HAZARD COMMUNITY AND TECHNICAL COLL PURPOSE: PROVIDE FUNDING FOR SCHOLARSHIPS | $77,954 |