Purchase Area Development District Inc
- Assets
- $0.0
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 78
- Location
- Mayfield, KY
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 61-0703486
Organization Overview
Purchase Area Development District Inc is located in Mayfield, KY. The organization was established in 1981. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Purchase Area Development District Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Purchase 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 06/2022, Purchase Area Development District Inc generated $14.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $13.6m during the year ending 06/2022. While expenses have increased by 4.7% 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.
Since 2015, Purchase Area Development District Inc has awarded 105 individual grants totaling $15,517,013. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURCHASE AREA DEVELOPMENT DISTRICT (PADD) OFFERS A DIVERSE COLLECTION OF SERVICES, TOUCHING EVERY ASPECT OF LIFE IN THE PURCHASE REGION. LOCATED IN THE FAR-WEST KENTUCKY, PADD SERVICES INCLUDE PROGRAMS FOR HUMAN SUPPORT, COMMUNITY INFRASTRUCTURE PLANNING, ECONOMIC DEVELOPMENT, AND SPECIAL PROJECTS THE BLENDING OF THESE OFFERINGS PROVIDES A WELL-ROUNDED APPROACH TO MEETING THE CURRENT AND FUTURE NEEDS OF OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURCHASE AREA DEVELOPMENT DISTRICT (THE "DISTRICT") SUPPORTS ECONOMIC DEVELOPMENT, GIVES TECHNICAL ASSISTANCE AND HELPS IN ADMINISTERING SERVICES AND PROGRAMS IN THE DESIGNATED EIGHT COUNTY JACKSON PURCHASE AREA OF KENTUCKY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Cooper Secretary | OfficerTrustee | 1 | $0 |
Kenny Wilson Chairman | OfficerTrustee | 1 | $0 |
Arthur Boykin Treasurer | OfficerTrustee | 1 | $0 |
Rita Dotson Vice Chair | OfficerTrustee | 1 | $0 |
Cathy Pigg Director | Trustee | 1 | $0 |
Justin Puckett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,109,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $2,099,771 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,109,252 |
| Total Program Service Revenue | $42,888 |
| Investment income | $117,062 |
| 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 | $14,269,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,323,237 |
| 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 | $2,105,374 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $136,211 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,070 |
| Fees for services: Accounting | $45,242 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,519 |
| Office expenses | $161,787 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,568 |
| Travel | $57,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,223 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,009 |
| All other expenses | $330,615 |
| Total functional expenses | $13,614,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,851 |
| Savings and temporary cash investments | $8,793,160 |
| Pledges and grants receivable | $1,542,605 |
| Accounts receivable, net | $52,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,101,463 |
| Inventories for sale or use | $126,516 |
| Prepaid expenses and deferred charges | $2,746 |
| Net Land, buildings, and equipment | $57,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$15,063,958 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $1,562,296 |
| Grants payable | $0 |
| Deferred revenue | $1,842,459 |
| 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 | $1,072,513 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$4,477,268 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Purchase Area Development District Inc has awarded $1,960,173 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Paducah, KY PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $461,921 |
Murray, KY PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $332,681 |
Mayfield, KY PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $302,421 |
Mayfield, KY PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $188,644 |
Hickman, KY PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $162,489 |
HELP AT HOME PURPOSE: TO ASSIST IN PROVIDING A VARIETY OF SERVICES AND PROGRAMS FOR THE ELDERLY. | $152,956 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Purchase Area Development District Inc has recieved totaling $299,574.
| Awarding Organization | Amount |
|---|---|
Feeding Kentucky Inc Frankfort, KY PURPOSE: ASSISTANCE FOR MEMBER FOOD BANKS US | $229,574 |
Aarp Foundation Washington, DC PURPOSE: DONATION TO SUPPORT DISASTER RELIEF | $50,000 |
Cahec Foundation Raleigh, NC PURPOSE: DISASTER RELIEF ASSISTANCE | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |