Civic Intelligence

Lees College Inc.

990 • Fiscal year 2017 • EIN 61-0447250

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 05, 2018

Organization ProfileN/A
P O Box 640Jackson, KY 41339

(606) 487-3072

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

90th percentile

46%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

53rd percentile

4.9%

Faster asset growth than 53% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

692%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$6,887,612

Up $321,826 (+4.9%) from 2016

Net Assets

Up

$6,887,612

Up $321,936 (+4.9%) from 2016

Liabilities

Down

$0

Down $110 (-100%) from 2016

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin90th percentile

Revenue

Up

$910,485

Up $795,537 (+692%) from 2016

Expenses

Up

$490,537

Up $204,801 (+72%) from 2016

Net Income

Up

$419,948

Up $590,736 (+346%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$10M$5.0M$0Assets 2011: $5,773,722Liabilities 2011: $2,744Net Assets 2011: $5,770,9782011Assets 2012: $5,636,355Liabilities 2012: $0Net Assets 2012: $5,636,3552012Assets 2013: $6,258,306Liabilities 2013: $110Net Assets 2013: $6,258,1962013Assets 2014: $7,175,933Liabilities 2014: $110Net Assets 2014: $7,175,8232014Assets 2015: $6,959,717Liabilities 2015: $110Net Assets 2015: $6,959,6072015Assets 2016: $6,565,786Liabilities 2016: $110Net Assets 2016: $6,565,6762016Assets 2017: $6,887,612Liabilities 2017: $0Net Assets 2017: $6,887,6122017Assets 2018: $7,310,257Liabilities 2018: $0Net Assets 2018: $7,310,2572018Assets 2019: $7,493,003Liabilities 2019: $0Net Assets 2019: $7,493,0032019Assets 2020: $7,705,370Liabilities 2020: $0Net Assets 2020: $7,705,3702020Assets 2021: $9,305,745Liabilities 2021: $0Net Assets 2021: $9,305,7452021Assets 2022: $7,845,464Liabilities 2022: $0Net Assets 2022: $7,845,4642022Assets 2024: $8,510,146Liabilities 2024: $0Net Assets 2024: $8,510,1462024

Highlighted filing

2017

Assets$6,887,612
Liabilities$0
Net Assets$6,887,612
Open 2017 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $392,358Expenses 2011: $197,727Net Income 2011: $194,6312011Expenses 2012: $182,7702012Expenses 2013: $175,9842013Revenue 2014: $440,761Expenses 2014: $197,222Net Income 2014: $243,5392014Revenue 2015: $340,798Expenses 2015: $200,657Net Income 2015: $140,1412015Revenue 2016: $114,948Expenses 2016: $285,736Net Income 2016: -$170,7882016Revenue 2017: $910,485Expenses 2017: $490,537Net Income 2017: $419,9482017Revenue 2018: $556,529Expenses 2018: $203,314Net Income 2018: $353,2152018Revenue 2019: $390,780Expenses 2019: $280,112Net Income 2019: $110,6682019Revenue 2020: $769,647Expenses 2020: $311,720Net Income 2020: $457,9272020Revenue 2021: $453,498Expenses 2021: $278,066Net Income 2021: $175,4322021Revenue 2022: $311,917Expenses 2022: $207,861Net Income 2022: $104,0562022Revenue 2024: $439,756Expenses 2024: $465,753Net Income 2024: -$25,9972024

Highlighted filing

2017

Revenue$910,485
Expenses$490,537
Net Income$419,948
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 5, 2018
Return Version
2016v3.0
Gross Receipts
$1,271,879
Mission and Program Overview

Mission

EDUCATION ASSISTANCE

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,896,430$6,177,926▲ $281,496
Cash and Non-Interest-Bearing Accounts$43,625$18,763▼ $24,862
Accounts Receivable$2,465$8,231▲ $5,766
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,565,786$6,887,612▲ $321,826
Other Assets Total$623,266$682,692▲ $59,426
Liabilities
Accounts Payable and Accrued Expenses$110--
Total Liabilities$110$0▼ $110
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,470,794$3,759,339▲ $288,545
Unrestricted Net Assets$2,238,078$2,445,581▲ $207,503
Permanently Rstr Net Assets$856,804$682,692▼ $174,112
Total Net Assets Fund Balance$6,565,676$6,887,612▲ $321,936
Total Liabilities and Net Assets / Fund Balance$6,565,786$6,887,612▲ $321,826

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$682,692--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$6,524,103-▲ $779,950-$6,860,618
2015$6,842,293-▼ $174,712-$6,524,103
2014$7,128,793-▼ $56,943-$6,842,293
2013$6,190,125-▲ $1,075,526-$7,128,793
2012$5,609,488$500▲ $746,413-$6,190,125
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Hilliard H Smith IiiChairman
Dr Charles M DerricksonTrustee
Judge Sara Walter CombsTrustee
Mr Charles HeraldTrustee
Mr Darrell a HeraldTrustee
Mr Harold MullisTrustee
Mr J Hagan CodellTrustee
Mr Martin DouthittTrustee
Mr Pj SheffellTrustee
Mr Harold HolbrookSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$11,375
Program Service Revenue
$0
Investment Income
$899,110
Other Revenue
$0
All Other Contributions
$11,375
Change in Net Assets
$419,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$293,583
Other Expenses$196,954
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$293,583--$293,583
Other Expenses$67,600$17,500-$17,500
All Other Expenses-$9,653-$9,653
Total Functional Expenses$361,183$129,354$0$490,537
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Master Commissioner of WoodfoVersailles, KY-Funds for Educational Institutions$293,583
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Hilliard h. Smith iii & hagan codell - family relationshiphilliard h. Smith iii & pj sheffel - family relationshiphilliard h. Smith iii, harold holbrook, j hagan codell, charles m derrickson, pj sheffel & charles herald - business relationship”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The board president will review and approve form 990.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to public”

Filing and Contact Details

Filer

Filer Name
Lees College Inc
EIN
61-0447250
Phone
6064873072
Address
P O BOX 640, JACKSON, KY 41339

Signing Officer

Name
Hilliard H Smith Iii
Title
Chairman
Signed
2018-03-05
Discuss with paid preparer
Yes

Organization Details

Formed
1883
Legal Domicile
Ky
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Summers McCrary & Sparks PSC
Address
110 East Lowry Lane, Lexington, KY 40503
Preparer
Ryan R Laski CPA
Phone
8592648785
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - LEES COLLEGE, INC. WAS PREVIOUSLY THE BENEFICIARY OF THE ESTATE OF GEORGE L. BAGBY. THESE FUNDS HAVE BEEN, AND STILL ARE, ADMINISTERED BY THE MASTER COMMISSIONER OF THE WOODFORD CIRCUIT COURT, WOODFORD COUNTY, KY. THE FUNDS WERE FOR THE PURPOSE OF PROVIDING STUDENT LOANS AS THE COLLEGE. IT WAS DETERMINED THAT LEES COLLEGE, INC. NO LONGER FIT THE USE OF THE FUNDS UNDER THE TRUST AGREEMENT. ON SEPTEMBER 16, 2016 THE WOODFORD CIRCUIT COURT ORDERED LEES COLLEGE, INC. TO REMIT ALL BAGBY LOAN FUNDS BACK TO THE MASTER COMMISSION OF THE WOODFORD CIRCUIT COURT AT THE EARLIEST PRACTIBLE TIME. THE GRANT EXPENSE REPORTED ON THIS TAX RETURN IN THE AMOUNT OF $293,583 REPRESENTS THE REMITTANCE OF THESE FUNDS.”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Unrealized loss on investments = -$98012”

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“The objectives for the endowment funds are to provide for a reasonable total investment return, consistent with the needs to safegaurd the college's assets, while maximizing the total investment return on those assets. The college may spend only the income from the investments to support educational purposes.”

Raw XML AppendixShowing 400 of 475 raw XML fields

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/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0623266
IRS990/OtherAssetsTotalGrp/EOYAmt0682692
IRS990/OtherChangesInNetAssetsAmt0-98012
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0INVESTMENT FEES
IRS990/OtherExpensesGrp/Desc1ASSISTANCE
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL SERVICES
IRS990/OtherExpensesGrp/Desc3ADMINISTRATION
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt082295
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt119906
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt217500
IRS990/OtherExpensesGrp/ProgramServicesAmt067600
IRS990/OtherExpensesGrp/TotalAmt082295
IRS990/OtherExpensesGrp/TotalAmt167600
IRS990/OtherExpensesGrp/TotalAmt219906
IRS990/OtherExpensesGrp/TotalAmt317500
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0856804
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0682692
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt026775
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0100000
IRS990/PYInvestmentIncomeAmt088173
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0185736
IRS990/PYRevenuesLessExpensesAmt0-170788
IRS990/PYTotalExpensesAmt0285736
IRS990/PYTotalRevenueAmt0114948
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0419948
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION MAINTAINS A CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITATION OF FUNDS FROM THE GENERAL PUBLIC.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Support Schedule: Additional Supplemental Information
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt011375
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt026775
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt016000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt023500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt031416
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0109066
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt06875
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt06875
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt06875
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt07355
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt06875
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt034855
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0161570
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0160806
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0173925
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0215594
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0180249
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0892144
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.11770
IRS990ScheduleA/PublicSupportPY170Pct00.11520
IRS990ScheduleA/PublicSupportTotal170Amt0121963
IRS990ScheduleA/SubstantialContributorsTotAmt021958
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt018250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt033650
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt022875
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt030855
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt038291
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0143921
IRS990ScheduleA/TotalSupportAmt01036065
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0-149852
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt06524103
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt06860618
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0-293583
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0779950
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0-143478
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt06842293
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt06524103
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-174712
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0-229557
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt07128793
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt06842293
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-56943
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0136858
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt06190125
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt07128793
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01075526
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0166285
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt05609488
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt06190125
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0746413
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0682692
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INTEREST IN PERPETUAL TRUST
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE OBJECTIVES FOR THE ENDOWMENT FUNDS ARE TO PROVIDE FOR A REASONABLE TOTAL INVESTMENT RETURN, CONSISTENT WITH THE NEEDS TO SAFEGAURD THE COLLEGE'S ASSETS, WHILE MAXIMIZING THE TOTAL INVESTMENT RETURN ON THOSE ASSETS. THE COLLEGE MAY SPEND ONLY THE INCOME FROM THE INVESTMENTS TO SUPPORT EDUCATIONAL PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0682692
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0293583
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FUNDS FOR EDUCATIONAL INSTITUTIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MASTER COMMISSIONER OF WOODFO
IRS990ScheduleI/RecipientTable/RecipientEIN0611320380
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0193 S MAIN ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0VERSAILLES
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0KY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd040383
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0TAXPAYER IS LOCATED ON CAMPUS OF GRANTEE. TAXPAYER WILL BE ABLE TO MONITOR CONSTRUTION OF BUILDING FIRST HAND.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - LEES COLLEGE, INC. WAS PREVIOUSLY THE BENEFICIARY OF THE ESTATE OF GEORGE L. BAGBY. THESE FUNDS HAVE BEEN, AND STILL ARE, ADMINISTERED BY THE MASTER COMMISSIONER OF THE WOODFORD CIRCUIT COURT, WOODFORD COUNTY, KY. THE FUNDS WERE FOR THE PURPOSE OF PROVIDING STUDENT LOANS AS THE COLLEGE. IT WAS DETERMINED THAT LEES COLLEGE, INC. NO LONGER FIT THE USE OF THE FUNDS UNDER THE TRUST AGREEMENT. ON SEPTEMBER 16, 2016 THE WOODFORD CIRCUIT COURT ORDERED LEES COLLEGE, INC. TO REMIT ALL BAGBY LOAN FUNDS BACK TO THE MASTER COMMISSION OF THE WOODFORD CIRCUIT COURT AT THE EARLIEST PRACTIBLE TIME. THE GRANT EXPENSE REPORTED ON THIS TAX RETURN IN THE AMOUNT OF $293,583 REPRESENTS THE REMITTANCE OF THESE FUNDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1HILLIARD H. SMITH III & HAGAN CODELL - FAMILY RELATIONSHIPHILLIARD H. SMITH III & PJ SHEFFEL - FAMILY RELATIONSHIPHILLIARD H. SMITH III, HAROLD HOLBROOK, J HAGAN CODELL, CHARLES M DERRICKSON, PJ SHEFFEL & CHARLES HERALD - BUSINESS RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD PRESIDENT WILL REVIEW AND APPROVE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UNREALIZED LOSS ON INVESTMENTS = -$98012
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,887,612
Liabilities
$0
Net assets
$6,887,612
Revenue
$910,485
Expenses
$490,537
Net income
$419,948
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.51$0.00$8.51$0.44$0.47$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.85$0.00$7.85$0.31$0.21$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.31$0.00$9.31$0.45$0.28$0.18
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.71$0.00$7.71$0.77$0.31$0.46
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.49$0.00$7.49$0.39$0.28$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.31$0.00$7.31$0.56$0.20$0.35
2017Detailed filing. Detailed filing data is available for this year.$6.89$0.00$6.89$0.91$0.49$0.42
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.57$0.00$6.57$0.11$0.29$0.17
2015Detailed filing. Detailed filing data is available for this year.$6.96$0.00$6.96$0.34$0.20$0.14
2014Detailed filing. Detailed filing data is available for this year.$7.18$0.00$7.18$0.44$0.20$0.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.26$0.00$6.26$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.64$0.00$5.64$0.18
2011Summary only. Only limited summary data is available for this year.$5.77$0.00$5.77$0.39$0.20$0.19