Blue North Ky Inc
- Assets
- $134.7k
- Revenue
- $595.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Covington, KY
- Founding
- Data as of
- 06/2023
- EIN
- 87-0822775
Organization Overview
Blue North Ky Inc is located in Covington, KY. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Blue North KY Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blue North KY 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 06/2023, Blue North KY Inc generated $595.9k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $537.3k during the year ending 06/2023. While expenses have increased by 6.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE OPERATE UNDER GRANTS WITH THE COMMONWEALTH OF KENTUCKY TO PROVIDE CHARITABLE AND EDUCATIONAL ASSISTANCE TO ENTREPRENEURS, START UPS, AND SMALL BUSINESSES TO CREATE A SCALABLE BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE CHARITABLE AND EDUCATIONAL ASSISTANCE TO STARTUPS, SMALL BUSINESSES, AND ENTREPRENUERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kris Knochelmann Judge Executive | Trustee | 1 | $0 |
Christine Russel Treasurer | Trustee | 1 | $0 |
Matt Hollenkamp Secretary | Trustee | 1 | $0 |
Jesse Simmon Director | Trustee | 1 | $0 |
Stephen Saunders Vice Chair | Trustee | 1 | $0 |
David Knox Director | Trustee | 40 | $78,753 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $529,414 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $586,414 |
| Total Program Service Revenue | $0 |
| Investment income | $902 |
| 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 | $595,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $155,000 |
| 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 | $200,902 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,995 |
| Fees for services: Accounting | $19,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,500 |
| Office expenses | $10,434 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $4,132 |
| Total functional expenses | $537,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,871 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115,784 |
| 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 | $134,655 |
| Accounts payable and accrued expenses | $15,931 |
| 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 | $25,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,792 |
| Total liabilities | $42,723 |
| 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 | $91,932 |
| Total liabilities and net assets/fund balances | $134,655 |
Grants Awarded
Over the last fiscal year, Blue North Ky Inc has awarded $155,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NKU CENTER FOR INNOVATION AND ENTREPRENUERSHIP PURPOSE: BUSINESS DEVELOPMENT | $70,000 |
AVIATRA ACCELERATORS PURPOSE: BUSINESS DEVELOPMENT | $45,000 |
INCUBATOR KITCHEN PURPOSE: BUSINESS DEVELOPMENT | $40,000 |