Lexington Center Corporation
- Assets
- $368.6m
- Revenue
- $33.9m
- Investments
- $50.6m
- Employees
- 362
- Location
- Lexington, KY
- Founding
- 10/2015
- Data as of
- 06/2022
- EIN
- 61-0734772
Organization Overview
Lexington Center Corporation is located in Lexington, KY. The organization was established in 2015. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Lexington Center Corporation employed 362 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Center 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 06/2022, Lexington Center Corporation generated $33.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $37.7m during the year ending 06/2022. While expenses have increased by 7.6% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE COMMUNITIES THROUGH INNOVATIVE SHARED EXPERIENCES.
Describe the Organization's Program Activity:
PROVIDE FACILITIES FOR PUBLIC USE. FACILITIES INCLUDE: ARENA, EXHIBITION HALL, HISTORIC THEATER AND PARKING LOTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ellistion Board Chair | Trustee | 1 | $0 |
Edward Holmes Finance Committee Chair | Trustee | 1 | $0 |
Porter Peeples Board Member | Trustee | 1 | $0 |
Fred Brown Board Member | Trustee | 1 | $0 |
Karen Hill Board Member | Trustee | 1 | $0 |
Thomas Gaines Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,284,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $258,725 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,543,085 |
| Total Program Service Revenue | $32,045,910 |
| Investment income | $333,351 |
| 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 | $33,922,346 |
| 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. | $1,564,544 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,500,882 |
| Pension plan accruals and contributions | $116,177 |
| Other employee benefits | $549,760 |
| Payroll taxes | $433,594 |
| Fees for services: Management | $2,091,752 |
| Fees for services: Legal | $103,259 |
| Fees for services: Accounting | $50,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,957,777 |
| Advertising and promotion | $231,040 |
| Office expenses | $857,197 |
| Information technology | $187,905 |
| Royalties | $0 |
| Occupancy | $2,426,725 |
| Travel | $81,581 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,639,771 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,748,966 |
| Insurance | $560,074 |
| All other expenses | $92,801 |
| Total functional expenses | $37,710,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,623,165 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $101,386 |
| Accounts receivable, net | $2,190,053 |
| 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 | $322,113 |
| Net Land, buildings, and equipment | $298,906,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,646,110 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,782,263 |
| Total assets | $368,571,113 |
| Accounts payable and accrued expenses | $8,984,014 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $239,532,449 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $212,964 |
| Total liabilities | $248,729,427 |
| Net assets without donor restrictions | -$23,510,920 |
| Net assets with donor restrictions | $143,352,606 |
| 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 | $368,571,113 |