Kentucky Highlands Community Development Corporation
- Assets
- $4.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- London, KY
- Founding
- 05/1994
- Data as of
- 03/2022
- 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 03/2022, Kentucky Highlands Community Development Corporation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $1.3m during the year ending 03/2022. While expenses have increased by 9.4% 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
2022
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 |
|---|---|---|---|
Jerry Rickett President | Officer | 5 | $0 |
Brenda Mcdaniel Exec. Vice President/cfo | Officer | 5 | $0 |
Ruby Adams Secretary | Officer | 5 | $0 |
Mark Bolinger Vice President, Business L | Officer | 5 | $0 |
Bill Bertram Director | Trustee | 1 | $0 |
Samuel Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,154,579 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,198,429 |
| Total Program Service Revenue | $91,324 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,904 |
| Net Gain/Loss on Asset Sales | -$98,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,209,567 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $842,927 |
| 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 | $339,227 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,746 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,075 |
| Advertising and promotion | $0 |
| Office expenses | $2,693 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,629 |
| Travel | $2,556 |
| 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 | $2,981 |
| All other expenses | $0 |
| Total functional expenses | $1,263,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,477 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $168,482 |
| 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 | $81,787 |
| Net Land, buildings, and equipment | $320,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,982,225 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,648,028 |
| Accounts payable and accrued expenses | $250 |
| 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 | $2,962,111 |
| Total liabilities | $2,962,361 |
| 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 | $1,685,667 |
| Total liabilities and net assets/fund balances | $4,648,028 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kentucky Highlands Community Development Corporation has recieved totaling $49,005.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $49,005 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
Inner-City Muslim Action Network Chicago, IL | $22,441,569 | $25,574,850 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Will County Center For Community Concerns Inc Joliet, IL | $2,259,108 | $13,384,526 |