Kentucky Highlands Community Development Corporation
- Assets
- $5.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- London, KY
- Founding
- 05/1994
- Data as of
- 03/2023
- EIN
- 61-1253192
Organization Overview
Kentucky Highlands Community Development Corporation is located in London, KY. The organization was established in 1994. 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. This organization is the central organization for a national or regional group of organizations. Kentucky Highlands Community Development 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 03/2023, Kentucky Highlands Community Development Corporation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $1.5m during the year ending 03/2023. While expenses have increased by 10.6% 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
KHCDC WAS FORMED TO PROMOTE THE TAX-EXEMPT MISSION OF KENTUCKY HIGHLANDS INVESTMENT CORPORATION, A SECTION 501(C)(4) ORGANIZATION. THEIR MISSION IS JOB CREATION AND RETENTION IN A TWENTY-TWO COUNTY ECONOMICALLY DISADVANTAGED AREA OF SOUTHEASTERN KENTUCKY. THIS MISSION IS ACCOMPLISHED THROUGH NON-TRADITIONAL INVESTMENT IN COMPANIES WHICH WILL PROVIDE THESE JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KHCDC PROMOTES DEVELOPMENT OF AND ASSISTANCE TO LOCAL BUSINESS ENTERPRISES WHICH HAVE THE PROSPECT OF INCREASING THE INCOME OF THE AREA'S RESIDENTS AND EXPANDING THEIR EMPLOYMENT OPPORTUNITIES. AS A SUPPORTING ORGANIZATION, KHCDC ALSO SUPPORTS THE AFFORDABLE HOUSING DEVELOPMENT EFFORTS OF ITS SUPPORTED ORGANIZATION, KENTUCKY HIGHLANDS INVESTMENT CORP INCLUDING PROVIDING AFFORDABLE HOUSING SOLUTIONS WITH PROGRAMS THAT SPECIALIZE IN TURN-KEY HOMES, LOWER-INCOME HOUSING PROGRAMS, MUTUAL SELF-HELP HOUSING PROGRAMS, ELDERLY HOUSING AND SEVERAL ENERGY EFFICIENT AND/OR COMMUNITY DEVELOPMENT PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Bertram Director | Trustee | 1 | $0 |
Samuel Brown Director | Trustee | 1 | $0 |
Jane Carter Director | Trustee | 1 | $0 |
Richard Foley Director | Trustee | 1 | $0 |
Clarence Bo Green Director | Trustee | 1 | $0 |
Jennifer Jones Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,264,143 |
| All other contributions, gifts, grants, and similar amounts not included above | $120,634 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,384,777 |
| Total Program Service Revenue | $100,278 |
| Investment income | $0 |
| 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 | $1,485,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $863,879 |
| 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 | $512,581 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,958 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,143 |
| Advertising and promotion | $276 |
| Office expenses | $278 |
| Information technology | $4,900 |
| Royalties | $0 |
| Occupancy | $2,420 |
| Travel | $14,610 |
| 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 | $14,078 |
| Insurance | $403 |
| All other expenses | $0 |
| Total functional expenses | $1,511,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,422 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $194,713 |
| 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 | $72,894 |
| Net Land, buildings, and equipment | $294,307 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,198,560 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,992,896 |
| 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 | $3,334,145 |
| Total liabilities | $3,334,145 |
| Net assets without donor restrictions | $0 |
| 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 | $1,658,751 |
| Total liabilities and net assets/fund balances | $4,992,896 |