Bardstown Industrial Development Corporation
- Assets
- $1.1m
- Revenue
- $95.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Bardstown, KY
- Founding
- 07/1986
- Data as of
- 06/2023
- EIN
- 61-1008712
Organization Overview
Bardstown Industrial Development Corporation is located in Bardstown, KY. The organization was established in 1986. 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 06/2023, Bardstown Industrial Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bardstown Industrial Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Bardstown Industrial Development Corporation generated $95.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (30.4%) each year. All expenses for the organization totaled $103.2k during the year ending 06/2023. 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
TO PROMOTE INDUSTRIAL DEVELOPMENT AND ATTRACT AND RETAIN INDUSTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WORKS TO RECRUIT NEW INDUSTRIES TO THE AREA AND TO RETAIN EXISTING INDUSTRIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Watts Director | Trustee | 1 | $0 |
Dick Heaton Director | Trustee | 1 | $0 |
Rex Houck Director | Trustee | 1 | $0 |
Nika Mathis Director | Trustee | 1 | $0 |
Kevin Smith Director | Trustee | 1 | $0 |
Jeff Lear Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $87,901 |
| 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 | $87,901 |
| Total Program Service Revenue | $0 |
| Investment income | $7,114 |
| 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 | $95,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,784 |
| 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 | $48,820 |
| Pension plan accruals and contributions | $1,525 |
| Other employee benefits | $0 |
| Payroll taxes | $3,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,368 |
| Office expenses | $35 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,334 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,086 |
| All other expenses | $7,452 |
| Total functional expenses | $103,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,072,770 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $1,072,770 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $396 |
| Total liabilities | $396 |
| Net assets without donor restrictions | $1,072,374 |
| 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 | $1,072,770 |
Grants Awarded
Over the last fiscal year, Bardstown Industrial Development Corporation has awarded $37,458 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NELSON COUNTY ECONOMIC DEVELOPMENT CORPORATION PURPOSE: TO PROMOTE INDUSTRIAL DEVELOPMENT AND ATTRACT AND RETAIN INDUSTRIES. | $12,458 |
STEPHEN FOSTER DRAMA ASSOCIATION PURPOSE: TO PROMOTE INDUSTRIAL DEVELOPMENT AND ATTRACT AND RETAIN INDUSTRIES | $25,000 |