Kentucky Educational Development Corporation
- Assets
- $9.4m
- Revenue
- $18.7m
- Investments
- $0.0
- Employees
- 99
- Location
- Ashland, KY
- Founding
- 04/1969
- Data as of
- 06/2023
- EIN
- 61-0659010
Organization Overview
Kentucky Educational Development Corporation is located in Ashland, KY. The organization was established in 1969. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2023, Kentucky Educational Development Corporation employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Educational 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 06/2023, Kentucky Educational Development Corporation generated $18.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $17.6m during the year ending 06/2023. While expenses have increased by 9.7% per year over the past 7 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
PROVIDING GRANT AND CONTRACT WRITING, TECHNOLOGY SUPPORT, PAYROLL AND PROFESSIONAL DEVELOPMENT SERVICES FOR MEMBER SCHOOL DISTRICTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
KEDC ADMINISTRATED ADULT BASIC EDUCATION IN KY COUNTIES,PROVIDED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Baker Board Member | Trustee | 2 | $0 |
S Mccauley Board Member | Trustee | 2 | $0 |
Michael Rowe Board Member | Trustee | 2 | $0 |
John Maxey Board Member | OfficerTrustee | 2 | $0 |
Eugene Cope Khsaa Assoc Co | Officer | 40 | $103,525 |
Kirby Smith Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $319,412 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,915,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,308,150 |
| Total Program Service Revenue | $9,244,150 |
| Investment income | $103,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,717 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,651,211 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,786,614 |
| Pension plan accruals and contributions | $746,252 |
| Other employee benefits | $305,322 |
| Payroll taxes | $151,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,073 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $97,567 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,458 |
| Travel | $527,405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,924 |
| Interest | $13,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,751 |
| Insurance | $89,430 |
| All other expenses | $7,777,837 |
| Total functional expenses | $17,579,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,480,145 |
| Pledges and grants receivable | $1,546,110 |
| Accounts receivable, net | $726,865 |
| 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 | $1,591,768 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,318 |
| Total assets | $9,392,206 |
| Accounts payable and accrued expenses | $1,247,193 |
| Grants payable | $0 |
| Deferred revenue | $1,005,174 |
| 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 | $261,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $450,111 |
| Total liabilities | $2,963,978 |
| Net assets without donor restrictions | $6,428,228 |
| 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 | $9,392,206 |