Reach Inc
- Assets
- $315.9k
- Revenue
- $332.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Lexington, KY
- Founding
- 04/1996
- Data as of
- 03/2022
- 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 03/2022, 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 03/2022, Reach Inc generated $332.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $260.8k during the year ending 03/2022. While expenses have increased by 1.1% 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
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Burns Executive Director | Trustee | 40 | $70,600 |
Derek Shaffer Treasurer | OfficerTrustee | 1 | $0 |
Mike Dunn Secretary | OfficerTrustee | 1 | $0 |
Tyler Hamilton Vice Chair | OfficerTrustee | 1 | $0 |
Lance Lawrence Chair | OfficerTrustee | 1 | $0 |
Jeff Ricketts Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $266,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $87,802 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $354,490 |
| Total Program Service Revenue | $18,160 |
| Investment income | $127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$55,778 |
| Net Income from Fundraising Events | $13,292 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $332,730 |
| 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. | $70,600 |
| Compensation of current officers, directors, key employees. | $14,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,447 |
| Pension plan accruals and contributions | $4,981 |
| Other employee benefits | $11,115 |
| Payroll taxes | $13,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $92 |
| 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 | $55 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,192 |
| Insurance | $0 |
| All other expenses | $40,534 |
| Total functional expenses | $260,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $155,885 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,790 |
| 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 | $139,211 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $315,886 |
| Accounts payable and accrued expenses | $1,383 |
| Grants payable | $0 |
| Deferred revenue | $9,515 |
| 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 | $248,125 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $259,023 |
| Net assets without donor restrictions | $56,863 |
| 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 | $315,886 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Reach Inc has recieved totaling $203,055.
| Awarding Organization | Amount |
|---|---|
Calipari Foundation Inc Lexington, KY PURPOSE: NON PROFT ACTIVITY SUPPORT | $203,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $55 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Church Residences Columbus, OH | $160,821,916 | $104,850,885 |
Christian Relief Services Charities Inc Alexandria, VA | $142,752,068 | $55,470,301 |
Center For The Developmentally Disabled Kansas City, MO | $14,632,501 | $18,017,450 |
Lester And Rosalie Anixter Center Chicago, IL | $16,517,406 | $29,142,038 |
Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Over The Rhine Community Housing Cincinnati, OH | $24,358,276 | $7,722,304 |
Society Of St Vincent Depaul Council Of Louisville Louisville, KY | $10,950,346 | $7,888,364 |
Socayr Inc Louisville, KY | $34,945,508 | $6,749,829 |
Lacasa Of Goshen Inc Goshen, IN | $26,643,418 | $6,732,087 |
Creative Housing Inc Columbus, OH | $43,851,773 | $5,323,506 |
Family Scholar House Inc Louisville, KY | $18,614,591 | $4,995,688 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |