Lake Cumberland Housing Agency Inc
- Assets
- $3.0m
- Revenue
- $994.3k
- Investments
- $0.0
- Employees
- 28
- Location
- Jamestown, KY
- Founding
- 09/1979
- Data as of
- 01/2024
- EIN
- 61-0931236
Organization Overview
Lake Cumberland Housing Agency Inc is located in Jamestown, KY. The organization was established in 1979. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 01/2024, Lake Cumberland Housing Agency Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Cumberland Housing Agency 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 01/2024, Lake Cumberland Housing Agency Inc generated $994.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $976.4k during the year ending 01/2024. While expenses have increased by 11.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING TO LOWER INCOME AND ELDERLY PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AGENCY IS A NON-PROFIT CORPORATION THAT WORKS IN CONJUNCTION WITH PUBLIC POLICY FOR THE SPONSORSHIP, PRODUCTION, AND PROMOTION OF LOW AND MODERATE INCOME HOUSING IN KENTUCKY COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jimmie Greene Chairman | OfficerTrustee | 1 | $0 |
Marshall Todd Vice Chairman | OfficerTrustee | 1 | $0 |
Janice Meyers Secretary | OfficerTrustee | 1 | $0 |
Tony Kerr Treasurer | OfficerTrustee | 1 | $0 |
Larry Russell Bryant Board Member | Trustee | 1 | $0 |
Randy Dial Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cdi Flooring Inc Flooring | 1/30/22 | $134,358 |
Masterbuilt Cabinets Cabinetry | 1/30/22 | $123,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $503,096 |
| 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 | $503,096 |
| Total Program Service Revenue | $461,484 |
| Investment income | $721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $945 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $994,345 |
| 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 | $221,448 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $77,186 |
| Payroll taxes | $16,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,010 |
| Fees for services: Accounting | $19,768 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,599 |
| Office expenses | $6,353 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,457 |
| Insurance | $30,850 |
| All other expenses | $0 |
| Total functional expenses | $976,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,578 |
| Savings and temporary cash investments | $213,735 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,722 |
| 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 | $13,593 |
| Net Land, buildings, and equipment | $2,583,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,018,590 |
| Accounts payable and accrued expenses | $14,913 |
| Grants payable | $0 |
| Deferred revenue | $436 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,735 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,884,359 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,927,443 |
| Net assets without donor restrictions | $1,091,147 |
| 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 | $3,018,590 |