Purchase Area Regional Industrial Park Authority Inc
- Assets
- $13.1m
- Revenue
- $252.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Mayfield, KY
- Founding
- 08/2001
- Data as of
- 06/2022
- EIN
- 61-1393236
Organization Overview
Purchase Area Regional Industrial Park Authority Inc is located in Mayfield, KY. The organization was established in 2001. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Purchase Area Regional Industrial Park Authority 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 06/2022, Purchase Area Regional Industrial Park Authority Inc generated $252.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $30.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (18.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Purchase Area Regional Industrial Park Authority Inc has awarded 17 individual grants totaling $892,473. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ORGANIZE, PROMOTE, AND DEVELOP INDUSTRIAL GROWTH IN THE PURCHASE AREA OF WESTERN KENTUCKY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP A REGIONAL INDUSTRIAL PARK IN THE PURCHASE AREA OF WESTERN KENTUCKY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Manning Chairman | OfficerTrustee | 2 | $0 |
Martie Wiles Director | Trustee | 2 | $0 |
Jerod Webb Director | Trustee | 2 | $0 |
John Summers Director | Trustee | 2 | $0 |
Brent Shultz Director | Trustee | 2 | $0 |
Jim Martin Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $251,415 |
| 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 | $252,241 |
| 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. | $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 | $0 |
| Fees for services: Legal | $12,749 |
| Fees for services: Accounting | $325 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,637 |
| Insurance | $1,665 |
| All other expenses | $0 |
| Total functional expenses | $30,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,758,205 |
| 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 | $11,304,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $13,063,133 |
| Accounts payable and accrued expenses | $1,225 |
| 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 | $0 |
| Total liabilities | $1,225 |
| Net assets without donor restrictions | $13,061,908 |
| 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 | $13,063,133 |
Grants Awarded
Over the last fiscal year, Purchase Area Regional Industrial Park Authority Inc has awarded $243,085 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
MARSHALL CO FISCAL COURT PURPOSE: ACQUIRE OPTION FOR LAND | $104,061 |
BALLARD CO FISCAL COURT PURPOSE: SEVERAL SMALL REPAIRS | $45,400 |
CALLOWAY CO FISCAL COURT PURPOSE: SPEC BUILDING FUNDING | $34,312 |
HICKMAN CO FISCAL COURT PURPOSE: IMPROVEMENTS TO PARK | $34,312 |
CARLISLE CO FISCAL COURT PURPOSE: BRANDING AND MARKETING | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pride Community Services Inc Logan, WV | $3,436,459 | $7,199,401 |
Kentucky River Area Development District Inc Hazard, KY | $5,857,667 | $4,838,342 |
Missouri Incutech Foundation Rolla, MO | $1,463,624 | $4,973,546 |
Rural Action Inc The Plains, OH | $1,800,530 | $4,307,921 |
Mountain Association For Community Economic Development Inc Berea, KY | $33,227,736 | $8,576,709 |
West Virginia Community Action Partnerships Inc Charleston, WV | $514,969 | $3,682,058 |
Southeast Kentucky Economic Development Corporation Inc Somerset, KY | $28,123,081 | $3,726,346 |
Virginia Coalfield Coalition Inc Lebanon, VA | $15,855,826 | $1,388,700 |
Appalachian Community Action & Development Agency Inc Gate City, VA | $1,460,417 | $1,629,556 |
Pulaski County Growth Alliance Saint Robert, MO | $34,130 | $1,396,256 |
Kentucky Mountain Housing Development Corporation Inc Manchester, KY | $13,287,100 | $769,226 |
Stark Economic Development Board Inc Canton, OH | $4,016,090 | $2,811,607 |