Civic Intelligence

Russell Development Company Inc.

990 • Fiscal year 2019 • EIN 47-5221522

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

Organization ProfileN/A
1450 N BroadwayLexington, KY 40505

(502) 992-9436

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.42x

Higher debt load relative to assets than 97% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

20.76x

Higher debt load relative to revenue than 98% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

21st percentile

-3.5%

Faster asset growth than 21% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

69th percentile

12%

Faster revenue growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$5,719,566

Down $208,771 (-3.5%) from 2018

Net Assets

Down

-$2,415,882

Down $139,974 (-6.2%) from 2018

Liabilities

Down

$8,135,448

Down $68,797 (-0.8%) from 2018

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin8th percentile

Revenue

Up

$391,900

Up $43,203 (+12%) from 2018

Expenses

Down

$531,874

Down $59,661 (-10%) from 2018

Net Income

Up

-$139,974

Up $102,864 (+42%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0MAssets 2016: $6,527,117Liabilities 2016: $8,286,211Net Assets 2016: -$1,759,0942016Assets 2017: $6,186,087Liabilities 2017: $8,219,157Net Assets 2017: -$2,033,0702017Assets 2018: $5,928,337Liabilities 2018: $8,204,245Net Assets 2018: -$2,275,9082018Assets 2019: $5,719,566Liabilities 2019: $8,135,448Net Assets 2019: -$2,415,8822019Assets 2020: $5,574,806Liabilities 2020: $8,141,984Net Assets 2020: -$2,567,1782020Assets 2021: $5,412,164Liabilities 2021: $8,122,578Net Assets 2021: -$2,710,4142021Assets 2022: $5,277,601Liabilities 2022: $8,116,058Net Assets 2022: -$2,838,4572022Assets 2023: $7,476Liabilities 2023: $0Net Assets 2023: $7,4762023Assets 2024: $7,476Liabilities 2024: $0Net Assets 2024: $7,4762024

Highlighted filing

2019

Assets$5,719,566
Liabilities$8,135,448
Net Assets-$2,415,882
Open 2019 Filing

Operations Trend

Revenue Growth69th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2016: $792,472Expenses 2016: $1,609,180Net Income 2016: -$816,7082016Revenue 2017: $279,468Expenses 2017: $553,444Net Income 2017: -$273,9762017Revenue 2018: $348,697Expenses 2018: $591,535Net Income 2018: -$242,8382018Revenue 2019: $391,900Expenses 2019: $531,874Net Income 2019: -$139,9742019Revenue 2020: $369,639Expenses 2020: $520,935Net Income 2020: -$151,2962020Revenue 2021: $311,912Expenses 2021: $455,148Net Income 2021: -$143,2362021Revenue 2022: $312,086Expenses 2022: $440,128Net Income 2022: -$128,0422022Revenue 2023: $7,728,356Expenses 2023: $4,882,424Net Income 2023: $2,845,9322023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2019

Revenue$391,900
Expenses$531,874
Net Income-$139,974
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.0
Gross Receipts
$408,025
Mission and Program Overview

Mission

To revitalize the russell neighborhood of louisville, ky through new home construction and rehabilitation, and expanding local food options by providing food entrepreneurs a kitchen incubator.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,203,183$2,947,929▼ $255,254
Other Notes and Loans Receivable, Net$2,683,032$2,683,032→ $0
Cash and Non-Interest-Bearing Accounts$39,972$88,530▲ $48,558
Accounts Receivable$2,150$75▼ $2,075
Total Assets$5,928,337$5,719,566▼ $208,771
Liabilities
Unsecured Notes Loans Payable$7,866,140$7,861,023▼ $5,117
Accounts Payable and Accrued Expenses$328,655$274,425▼ $54,230
Other Liabilities$9,450--
Total Liabilities$8,204,245$8,135,448▼ $68,797
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,275,908$-2,415,882▼ $139,974
Total Net Assets Fund Balance$-2,275,908$-2,415,882▼ $139,974
Total Liabilities and Net Assets / Fund Balance$5,928,337$5,719,566▼ $208,771

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,444,498$522,311$2,966,809
Land$479,376-$479,376
Equipment$24,055$444,342$468,397
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Kevin SmithPresident
Johnetta RobertsDirector
Julie DentonDirector
William MoodyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$554
Program Service Revenue
$300,150
Investment Income
$91,196
Other Revenue
$0
All Other Contributions
$554
Change in Net Assets
$-139,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$531,874
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$239,130--$239,130
Interest$102,850--$102,850
Occupancy$86,343--$86,343
Insurance$26,212--$26,212
Other Expenses$5,630--$5,630
All Other Expenses$4,585--$4,585
Advertising$3,450--$3,450
Fees for Services Other$884--$884
Fees for Services Accounting$800--$800
Travel$270--$270
Total Functional Expenses$531,874$0$0$531,874
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Day to day management duties of the organization are performed by community ventures corporation.”

Form 990, Page 6, Part VI, Line 11B

“Members of the organization's board review the form 990 before filing the form with appropriate authorities.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are made available upon request to the organization.”

Filing and Contact Details

Filer

Filer Name
Russell Development Company Inc
EIN
47-5221522
Phone
5029929436
Address
1450 N BROADWAY, LEXINGTON, KY 40505

Signing Officer

Name
Kevin Smith
Title
President
Phone
5029929436
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Smith
Formed
2015
Legal Domicile
Ky
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Breeding Henderson & Hord Pllc
Address
1050 MONARCH ST STE 300, LEXINGTON, KY 40513-1877
Preparer
Derrick Rogers
Phone
8592780112
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/TotalLiabilitiesEOYAmt08135448
IRS990/TotalLiabilitiesGrp/BOYAmt08204245
IRS990/TotalLiabilitiesGrp/EOYAmt08135448
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2275908
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2415882
IRS990/TotalProgramServiceExpensesAmt0531874
IRS990/TotalProgramServiceRevenueAmt0300150
IRS990/TotalRevenueGrp/ExclusionAmt0107321
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0284025
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0391900
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05928337
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05719566
IRS990/TravelGrp/ProgramServicesAmt0270
IRS990/TravelGrp/TotalAmt0270
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt07866140
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt07861023
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01450 N BROADWAY
IRS990/USAddress/CityNm0LEXINGTON
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040505
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05029929436
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RUSSELL DEVELOPMENT COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0RUSS
ReturnHeader/Filer/EIN0475221522
ReturnHeader/Filer/PhoneNum05029929436
ReturnHeader/Filer/USAddress/AddressLine1Txt01450 N BROADWAY
ReturnHeader/Filer/USAddress/CityNm0LEXINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040505
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0508A680F0A22F0C4B65B93C61535F04E9E3DFAAC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0508A680F0A22F0C4B65B93C61535F04E9E3DFAAC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0162.221.223.241
ReturnHeader/FilingSecurityInformation/IPDt02020-11-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:34:45
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0800874573
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BREEDING HENDERSON & HORD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01050 MONARCH ST STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0405131877
ReturnHeader/PreparerPersonGrp/PhoneNum08592780112
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DERRICK ROGERS
ReturnHeader/ReturnTs02020-11-16T13:34:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,719,566
Liabilities
$8,135,448
Net assets
-$2,415,882
Revenue
$391,900
Expenses
$531,874
Net income
-$139,974
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.00$0.00$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.01$0.00$0.01$7.73$4.88$2.85
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$8.12$2.84$0.31$0.44$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.41$8.12$2.71$0.31$0.46$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.57$8.14$2.57$0.37$0.52$0.15
2019Detailed filing. Detailed filing data is available for this year.$5.72$8.14$2.42$0.39$0.53$0.14
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.93$8.20$2.28$0.35$0.59$0.24
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.19$8.22$2.03$0.28$0.55$0.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.53$8.29$1.76$0.79$1.61$0.82