Rural Educational Association Of Kentucky
- Assets
- $6.4m
- Revenue
- $260.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Springboro, OH
- Founding
- 05/1938
- Data as of
- 09/2023
- EIN
- 61-0447252
Organization Overview
Rural Educational Association Of Kentucky is located in Springboro, OH. The organization was established in 1938. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Educational Association Of Kentucky 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 09/2023, Rural Educational Association Of Kentucky generated $260.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (29.8%) each year. All expenses for the organization totaled $116.9k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (33.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Rural Educational Association Of Kentucky has awarded 11 individual grants totaling $148,800. 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
THE ASSOCIATION IS PLANNING TO SUPPORT THE DEVELOPMENT AND OPERATION OF A LIFE PLAN COMMUNITY TO INCLUDE INDEPENDENT LIVING, PERSONAL CARE, AND RELATED PROGRAMS TO SERVE SENIOR CITIZENS. THE ASSOCIATION ALSO PROVIDES SCHOLARSHIP FUNDS TO WORTHY STUDENTS AT VARIOUS NON-PROFIT EDUCATIONAL ACADEMIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RURAL EDUCATIONAL ASSOCIATION OF KENTUCKY IS A PHILANTHROPIC ORGANIZATION SHARING CHRIST TO PEOPLE BY MAXIMIZING THE STEWARDSHIP AND ALLOCATION OF OUR RESOURCES TO FUND EDUCATION AND MINISTRY PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Rabuka President | OfficerTrustee | 1 | $82,441 |
Tom Clark Vice President | OfficerTrustee | 1 | $0 |
Danny Dubosque Secretary | OfficerTrustee | 1 | $0 |
Paul Adeogun Director | Trustee | 1 | $0 |
Lee Hall Director | Trustee | 1 | $0 |
Liz B Muhlenbeck Director | Trustee | 1 | $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 | $0 |
| Investment income | $260,251 |
| 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 | $260,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,300 |
| 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 | $4,122 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $850 |
| Fees for services: Accounting | $3,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,512 |
| Fees for services: Other | $463 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,446 |
| 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 | $18,148 |
| Insurance | $3,645 |
| All other expenses | $191 |
| Total functional expenses | $116,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,253 |
| 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 | $2,571,649 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,684 |
| Net Land, buildings, and equipment | $326,792 |
| Investments—publicly traded securities | $3,282,351 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,598 |
| Total assets | $6,418,327 |
| Accounts payable and accrued expenses | $10,645 |
| 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 | $5,136 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,781 |
| Net assets without donor restrictions | $6,402,546 |
| 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 | $6,418,327 |
Grants Awarded
Over the last fiscal year, Rural Educational Association Of Kentucky has awarded $36,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOUISVILLE ADVENTIST ACADEMY PURPOSE: WORTHY STUDENT FUND | $20,000 |
PEWEE VALLEY SDA CHURCH PURPOSE: WORTHY STUDENT ASSISTANCE FUND | $16,300 |