Southeastern Kentucky Rehabilitation Industries Inc
- Assets
- $30.0m
- Revenue
- $39.5m
- Investments
- $0.0
- Employees
- 942
- Location
- Corbin, KY
- Founding
- 02/1972
- Data as of
- 09/2023
- EIN
- 61-0725475
Organization Overview
Southeastern Kentucky Rehabilitation Industries Inc is located in Corbin, KY. The organization was established in 1972. According to its NTEE Classification (E50) the organization is classified as: Rehabilitative Care, under the broad grouping of Health Care and related organizations. As of 09/2023, Southeastern Kentucky Rehabilitation Industries Inc employed 942 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Kentucky Rehabilitation Industries 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 09/2023, Southeastern Kentucky Rehabilitation Industries Inc generated $39.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $38.7m during the year ending 09/2023. While expenses have increased by 1.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EMPLOYMENT OPPORTUNITIES FOR SIGNIFICANTLY DISABLED INDIVIDUALS IN THE APPALACHIAN REGION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEKRI HAS EXPERIENCED CONSIDERABLE SUCCESS IN SUPPLYING EMPLOYMENT OPPORTUNITIES FOR SIGNIFICANTLY DISABLED INDIVIDUALS THROUGHOUT THE APPALACHIAN REGION. WITH FOUR FACILITIES LOCATED IN SOUTHEASTERN KENTUCKY AND ONE LOCATED IN NORTHEASTERN TENNESSEE, SEKRI HAS BEEN ABLE TO PROVIDE EMPLOYMENT TO INDIVIDUALS IN ONE OF THE POOREST AREAS OF THE NATION. CHOOSING TO LOCATE IN AN AREA NEGLECTED BY MANY OTHER BUSINESSES, SEKRI HAS PROVIDED MUCH NEEDED ECONOMIC SUPPORT TO THE APPALACHIAN REGION. OPERATING UNDER THE JAVITS-WAGNER-O'DAY ACT AND THE ABILITY ONE PROGRAM, SEKRI ASSURES THAT A MINIMUM OF 75% OF ALL DIRECT LABOR PERFORMED IN ITS FACTORIES IS DONE BY PERSONS WHO ARE CONSIDERED SIGNIFICANTLY DISABLED BY GOVERNMENT STANDARDS. AS A RESULT, SEKRI NOT ONLY PROVIDES GREAT ECONOMIC SUPPORT TO A SEVERELY DEPRESSED AREA, BUT IT TARGETS THOSE MOST IN NEED.THE DEDICATION TO FOCUS ON THE NEEDS OF INDIVIDUALS IN APPALACHIA HAS NOT BEEN THE EASIEST PATH TO FOLLOW. OFTEN, EDUCATION OR CULTURAL DEFICIENCIES HAVE CAUSED THE ORGANIZATION TO RE-ENGINEER, AUTOMATE, OR OTHERWISE MODIFY THE WORK ENVIRONMENT TO ALLOW EMPLOYEES THE OPTIMUM OPPORTUNITY FOR SUCCESS. THESE MODIFICATIONS ARE GENERALLY VERY COSTLY TO IMPLEMENT. HOWEVER, SEKRI'S COMMITMENT TO THE PEOPLE OF THIS REGION HAS RESULTED IN BENEFITS TO THE INDIVIDUALS WHO LIVE IN THE AREA AS WELL AS TO THE REGION AS A WHOLE.SEKRI IS VERY PROUD TO BE ABLE TO REPORT SO MUCH SUCCESS IN ACHIEVING OUR MISSION OF HELPING PEOPLE HELP THEMSELVES. WE ARE EXCITED THAT SO MANY OF OUR EMPLOYEES HAVE THE OPPORTUNITY TO GAIN SELF-RESPECT, DIGNITY, AND JOB SKILLS THROUGH THEIR INVOLVEMENT WITH THE COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Harris Chairman | Trustee | 2.5 | $0 |
James Norvell Vice Chairman | Trustee | 2.5 | $0 |
Ralph Souleyret Director | Trustee | 2.5 | $0 |
Terry Centers Director | Trustee | 2.5 | $0 |
Albey Brock Director | Trustee | 2.5 | $0 |
Debbie Cook Director | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $41,041 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,628 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,669 |
| Total Program Service Revenue | $39,232,777 |
| Investment income | $77,230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,078 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$30,814 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,481,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,300 |
| 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. | $875,566 |
| Compensation of current officers, directors, key employees. | $875,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,677,489 |
| Pension plan accruals and contributions | $254,497 |
| Other employee benefits | $2,175,025 |
| Payroll taxes | $1,111,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $247,850 |
| Advertising and promotion | $19,038 |
| Office expenses | $343,409 |
| Information technology | $247,801 |
| Royalties | $0 |
| Occupancy | $548,240 |
| Travel | $239,441 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,739 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $727,114 |
| Insurance | $346,749 |
| All other expenses | $262,354 |
| Total functional expenses | $38,734,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,375,202 |
| Savings and temporary cash investments | $916,343 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,313,688 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,617,503 |
| Prepaid expenses and deferred charges | $252,444 |
| Net Land, buildings, and equipment | $6,244,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $314,168 |
| Total assets | $30,034,065 |
| Accounts payable and accrued expenses | $3,794,349 |
| 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 | $0 |
| Secured mortgages and notes payable | $352,154 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,282 |
| Total liabilities | $4,167,785 |
| Net assets without donor restrictions | $25,866,280 |
| 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 | $30,034,065 |
Grants Awarded
Over the last fiscal year, Southeastern Kentucky Rehabilitation Industries Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSING DEVELOPMENT ALLIANCE INC PURPOSE: FLOOD RELIEF FOR PERRY COUNTY | $10,000 |
VOLUNTEERS OF AMERICA MID-STATES PURPOSE: FLOOD RELIEF FOR CLAY COUNTY | $10,000 |