Head Corporation
- Assets
- $2.2m
- Revenue
- $77.4k
- Investments
- $0.0
- Employees
- 0
- Location
- London, KY
- Founding
- 11/1974
- Data as of
- 12/2021
- EIN
- 61-0865310
Organization Overview
Head Corporation is located in London, KY. The organization was established in 1974. 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. Head 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 12/2021, Head Corporation generated $77.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $102.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT COMMUNITY AND ECONOMIC DEVELOPMENT EFFORTS IN CENTRAL APPALACHIA. THE ORGANIZATION'S ACTIVITIES INCLUDE PROVIDING ADMINISTRATIVE SERVICES TO THE APPALACHIAN FEDERAL CREDIT UNION AND PROVIDING LOANS FOR ECONOMIC DEVELOPMENT PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES LOAN CAPITAL & TECHNICAL ASSISTANCE TO INDIVIDUALS & GROUPS WISHING TO START-UP OR EXPAND SMALL BUSINESSES IN CENTRAL APPALACHIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Hale Executive Di | Officer | 40 | $34,551 |
Cheryl Meadows Secretary/tr | Officer | $0 | |
Lon Oliver Vice Preside | Officer | $0 | |
David Shadburne Director | Trustee | $0 | |
Sherry Trent Director | Trustee | $0 | |
Greg Dawson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $71,933 |
| Investment income | $5,300 |
| 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 | $77,415 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $40,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $154 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,656 |
| All other expenses | $0 |
| Total functional expenses | $102,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $560,865 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,601,403 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,162,268 |
| Accounts payable and accrued expenses | $6,094 |
| 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 | $779,913 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $786,007 |
| Net assets without donor restrictions | $1,376,261 |
| 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 | $2,162,268 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Head Corporation has recieved totaling $354,620.
| Awarding Organization | Amount |
|---|---|
Appalachian Development Alliance Inc London, KY PURPOSE: COMMUNITY DEVELOPMEN | $354,620 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northern Kentucky Area Developement District Florence, KY | $12,601,851 | $23,919,138 |
Hoosier Uplands Economic Development Corporation Mitchell, IN | $50,608,889 | $20,253,454 |
Mid-Atlantic Broadband Communities Corporation South Boston, VA | $87,739,365 | $16,699,414 |
Adams And Brown Counties Economic Opportunities Inc Georgetown, OH | $10,344,175 | $16,374,406 |
Pride Community Services Inc Logan, WV | $3,436,459 | $7,199,401 |
Kentucky River Area Development District Inc Hazard, KY | $5,857,667 | $4,838,342 |
Missouri Incutech Foundation Rolla, MO | $1,463,624 | $4,973,546 |
Rural Action Inc The Plains, OH | $1,800,530 | $4,307,921 |
Mountain Association For Community Economic Development Inc Berea, KY | $33,227,736 | $8,576,709 |
West Virginia Community Action Partnerships Inc Charleston, WV | $514,969 | $3,682,058 |
Southeast Kentucky Economic Development Corporation Inc Somerset, KY | $28,123,081 | $3,726,346 |
Virginia Coalfield Coalition Inc Lebanon, VA | $15,855,826 | $1,388,700 |