Reach Inc
- Assets
- $414.1k
- Revenue
- $289.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Lexington, KY
- Founding
- 04/1996
- Data as of
- 03/2023
- EIN
- 61-1274340
Organization Overview
Reach Inc is located in Lexington, KY. The organization was established in 1996. 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 03/2023, Reach Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reach 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 03/2023, Reach Inc generated $289.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $263.1k during the year ending 03/2023. 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 PROVIDE AFFORDABLE HOUSING TO FIRST-TIME HOMEOWNERS IN CENTRAL KENTUCKY
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOME BUYER SUBSIDIES AND COUNSELING IS A PROGRAM THAT PREPARE FIRST-TIME HOMEBUYER TO FINANCIALLY QUALIFIY FOR MORTGAGE FINANCING.
LOAN PROGRAM PROVIDES DIRECT FINANCIAL ASSISTANCE FOR HOUSE WHICH MEET HUD'S DEFINITION FOR LOW-TO-MODERATE INCOME. THE FINANCIAL ASSISTANCE PROVIDES THE HOMEBUYER WITH FUNDS NEEDED FOR DOWN PAYMENT AND CLOSING COSTS OF THE HOME PURCHASE.
HOUSING DEVELOPMENT PROGRAM USES HUD HOME FUNDS TO DEVELOP & REHAB EXISTING HOUSING UNITS.
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 |
|---|---|---|---|
Tina Burns Former Exec | Trustee | 40 | $73,000 |
Elisa Cooley Executive Di | Trustee | 40 | $48,000 |
Bill Allen President | OfficerTrustee | 1 | $0 |
Braeden Finch Director | Trustee | 1 | $0 |
Charles Beach III Director | Trustee | 1 | $0 |
David Daniel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $250,587 |
| All other contributions, gifts, grants, and similar amounts not included above | $78,898 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $329,485 |
| Total Program Service Revenue | $12,073 |
| Investment income | $178 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$65,779 |
| Net Income from Fundraising Events | $13,489 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $289,446 |
| 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. | $121,000 |
| Compensation of current officers, directors, key employees. | $14,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,297 |
| Pension plan accruals and contributions | $5,109 |
| Other employee benefits | $2,403 |
| Payroll taxes | $12,883 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $93 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,940 |
| Insurance | $4,812 |
| All other expenses | $16,479 |
| Total functional expenses | $263,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $182,626 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,306 |
| 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 | $139,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,888 |
| Other assets | $0 |
| Total assets | $414,089 |
| Accounts payable and accrued expenses | $12,212 |
| Grants payable | $0 |
| Deferred revenue | $8,115 |
| 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 | $240,625 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $260,952 |
| Net assets without donor restrictions | $153,137 |
| 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 | $414,089 |