Louisville Association For Community Economics Inc
- Assets
- $698.8k
- Revenue
- $879.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 09/2018
- Data as of
- 12/2021
- EIN
- 82-1927610
Organization Overview
Louisville Association For Community Economics Inc is located in Louisville, KY. The organization was established in 2018. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, 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. Louisville Association For Community Economics 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 12/2021, Louisville Association For Community Economics Inc generated $879.2k in total revenue. All expenses for the organization totaled $294.2k during the year ending 12/2021. While expenses have increased by 182.7% per year over the past 2 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATE THE DEVELOPMENT OF COOPERATIVE BUSINESSES AMONG THE LOWER INCOME RESIDENTS OF THE LOUISVILLE KY IN SMSA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DELI-UP PROJECT WHICH PROVIDES COMMUNITY OUTREACH A TEST MARKET FOR PREPARED FOODS THAT THE COOPERATIVE GROCERY MIGHT SELL AND COLLABORATIVE OPPORTUNITIES WITH OTHER NPO'S THAT SERVE LOUISVILLE'S URBAN CORE NEIGHBORHOODS. PAYMENT REFLECTS A PASS-THROUGH TO CATHOLIC CHARITIES OF LOUISVILLE ANOTHER 501C3 THAT PARTNERED IN THIS ENDEAVOR.
INTERNAL OPERATING EXPENSES AS DESCRIBED IN PART IX TO FACILITATE THE ACQUISITION OF CAPITAL TO PROVIDE REAL ESTATE AND IMPROVEMENTS FOR THE EVENTUAL COMMUNITY GROCERY. THESE AMOUNTS INCLUDE STAFF INTERIM EXECUTIVE DIRECTOR OCCUPANCY AND RELATED EXPENSES. AS A NOTE TO SCHEDULE IX COLUMN D ALL LINES AS THE ORGANIZATION CONTRACTED WITH STAFF AND THE BOARD'S ROLE EVOLVED FROM WORK TO GOVERNANCE BOARD MEMBERS CONTINUED TO PERFORM THE FUNDRAISING WHICH INDICATES THAT THERE ARE NO FUNDRAISING EXPENSES THAT CAN BE DISTINGUISHED READILY FROM MANAGEMENT GENERAL EXPENSES COLUMN C.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Hernandez Treasurer | OfficerTrustee | 10 | $0 |
Clara Nunez Vice President | OfficerTrustee | 4 | $0 |
Lisa Markowitz Secretary | OfficerTrustee | 4 | $0 |
Randall Webber President Interim | OfficerTrustee | 10 | $0 |
Denita Wright Director Board Member | Trustee | 4 | $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 | $877,990 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $877,990 |
| Total Program Service Revenue | $0 |
| Investment income | $975 |
| 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 | $879,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,674 |
| 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. | $60 |
| Compensation of current officers, directors, key employees. | $60 |
| 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 | $72,574 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,340 |
| Advertising and promotion | $10,334 |
| Office expenses | $2,866 |
| Information technology | $1,762 |
| Royalties | $0 |
| Occupancy | $6,991 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,249 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,360 |
| All other expenses | $0 |
| Total functional expenses | $294,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $698,815 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $698,815 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $698,790 |
| Net assets with donor restrictions | $25 |
| 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 | $698,815 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Louisville Association For Community Economics Inc has recieved totaling $355,000.
| Awarding Organization | Amount |
|---|---|
Humana Foundation Inc Louisville, KY PURPOSE: COMMUNITY PARTNERS PROGRAM GRANT | $250,000 |
Gheens Foundation Inc Louisville, KY PURPOSE: GENERAL OPERATIONS | $75,000 |
Impactassets Inc Bethesda, MD PURPOSE: FUNDS FOR LOUISVILLE COMMUNITY GROCERY | $10,000 |
Humana Foundation Inc Louisville, KY PURPOSE: INTERN TO SUPPORT DEVELOPMENT OF LOUISVILLE COMMUNITY GROCERY | $10,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: LCG'S POPUP SHOP PROGRAM | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |