Kentucky River Area Development District Inc
- Assets
- $5.9m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Hazard, KY
- Founding
- 10/1989
- Data as of
- 06/2023
- EIN
- 61-0675786
Organization Overview
Kentucky River Area Development District Inc is located in Hazard, KY. The organization was established in 1989. According to its NTEE Classification (S32) the organization is classified as: Rural 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. Kentucky River Area Development District 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, Kentucky River Area Development District Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $6.3m during the year ending 06/2023. While expenses have increased by 1.6% 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.
Since 2015, Kentucky River Area Development District Inc has awarded 59 individual grants totaling $4,594,324. 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
KRADD SERVES AS A REGIONAL FORUM, NETWORKING WITH APPROPRIATE GROUPS TO IMPROVE THE QUALITY OF LIFE FOR THE CITIZENS OF THE REGION. THE AGENCY PROVIDES PROFESSIONAL ASSISTANCE, LEADERSHIP, AND PLANNING TO REGIONAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR AGING PROGRAMS PROVIDE MANY TYPES OF ACTIVITIES AND SERVICES TO THE ELDERLY POPULATION OF THE KENTUCKY RIVER REGION. SOME OF THE SERVICES PROVIDED ARE HOMECARE SERVICES, INCLUDING HOME DELIVERED MEALS, SENIOR CENTER ACTIVITIES, INCLUDING CONGREGATE MEALS, NUTRITION, HEALTH EDUCATION, ADULT DAY CARE, HEALTH INSURANCE ASSISTANCE, AND OMBUDSMAN.
OTHER PROGRAMS
PARTICIPANT DIRECTED SERVICES (PDS) IS A PROGRAM THAT ALLOWS MEDICAID CLIENTS TO HAVE MORE CONTROL OVER THEIR IN-HOME SERVICES. PDS MEDICAID RECIPIENTS CAN CHOOSE THEIR OWN EMPLOYEES, HOME MAKING, AND PERSONAL CARE. IT IS KRADD'S DUTY TO DESIGN A PLAN OF CARE, MAKE SURE SERVICES ARE BEING PROVIDED, AND PAY MEDICAID RECIPIENT'S EMPLOYEES.
JOINT FUNDING ADMINISTRATION (JFA) IS A PROGRAM THAT FUNDS ECONOMIC DEVELOPMENT. KRADD ADMINISTERS VARIOUS PROJECTS/GRANTS THROUGHOUT THE REGION TO FUND INFRASTRUCTURE, CONSTRUCTION, AND MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Hall Chairman | OfficerTrustee | 0.01 | $0 |
Judge Jeff Dobson Vice-Chairman | OfficerTrustee | 0.01 | $0 |
Mayor Carol Joseph Treasurer | OfficerTrustee | 0.01 | $0 |
Craig Lindon Secretary | OfficerTrustee | 0.01 | $0 |
Judge Jeff Noble Parliamentarian | OfficerTrustee | 0.01 | $0 |
Judge Raymond Banks Director | Trustee | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,692,494 |
| 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 | $3,692,494 |
| Total Program Service Revenue | $2,312,641 |
| Investment income | $2,141 |
| 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 | $6,007,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,159,905 |
| 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. | $117,111 |
| Compensation of current officers, directors, key employees. | $15,168 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,860,070 |
| Pension plan accruals and contributions | $387,670 |
| Other employee benefits | $695,876 |
| Payroll taxes | $160,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $81,066 |
| Advertising and promotion | $0 |
| Office expenses | $244,009 |
| Information technology | $51,388 |
| Royalties | $0 |
| Occupancy | $77,657 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112,247 |
| Insurance | $43,567 |
| All other expenses | $126,490 |
| Total functional expenses | $6,295,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,898,003 |
| Savings and temporary cash investments | $419,529 |
| Pledges and grants receivable | $640,488 |
| Accounts receivable, net | $0 |
| 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 | $1,158,960 |
| Net Land, buildings, and equipment | $1,708,568 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,997 |
| Total assets | $5,945,545 |
| Accounts payable and accrued expenses | $316,322 |
| Grants payable | $0 |
| Deferred revenue | $418,353 |
| 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 | $1,374,625 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,884,740 |
| Total liabilities | $7,994,040 |
| 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 | -$2,048,495 |
| Total liabilities and net assets/fund balances | $5,945,545 |
Grants Awarded
Over the last fiscal year, Kentucky River Area Development District Inc has awarded $428,884 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BREATHITT CO SENIOR CITIZENS CENTER PURPOSE: AGING PROGRAM | $36,702 |
APPALACHIAN RESEARCH & DEFENSE PURPOSE: AGING PROGRAM | $5,025 |
PERRY COUNTY FISCAL COURT PURPOSE: AGING PROGRAM | $173,354 |
LESLIE COUNTY FISCAL COURT PURPOSE: AGING PROGRAM | $120,102 |
KNOTT COUNTY FISCAL COURT PURPOSE: AGING PROGRAM | $93,701 |