Civic Intelligence

Kentucky Valley Educational Cooperative

990 • Fiscal year 2018 • EIN 61-0729917

Jul 01, 2017 to Jun 30, 2018 • Filed on May 13, 2019

Organization Profile
412 Roy Campbell DriveHazard, KY 41701

(606) 436-3161

Siviq Scores

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

Liabilities / Assets

50th percentile

0.21x

Higher debt load relative to assets than 50% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.09x

Higher debt load relative to revenue than 27% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

77th percentile

19%

Higher net margin than 77% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$181,725

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

97th percentile

103%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

83rd percentile

29%

Faster revenue growth than 83% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$5,023,135

Up $2,548,993 (+103%) from 2017

Net Assets

Up

$3,946,085

Up $2,373,468 (+151%) from 2017

Liabilities

Up

$1,077,050

Up $175,525 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin77th percentile

Revenue

Up

$12,131,174

Up $2,704,524 (+29%) from 2017

Expenses

Up

$9,766,022

Up $468,488 (+5.0%) from 2017

Net Income

Up

$2,365,152

Up $2,236,036 (+1732%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,080,134Liabilities 2011: $118,064Net Assets 2011: $962,0702011Assets 2012: $1,501,248Liabilities 2012: $289,945Net Assets 2012: $1,211,3032012Assets 2013: $1,980,913Liabilities 2013: $240,468Net Assets 2013: $1,740,4452013Assets 2014: $2,759,940Liabilities 2014: $1,210,740Net Assets 2014: $1,549,2002014Assets 2015: $2,761,106Liabilities 2015: $1,062,664Net Assets 2015: $1,698,4422015Assets 2016: $2,366,061Liabilities 2016: $922,560Net Assets 2016: $1,443,5012016Assets 2017: $2,474,142Liabilities 2017: $901,525Net Assets 2017: $1,572,6172017Assets 2018: $5,023,135Liabilities 2018: $1,077,050Net Assets 2018: $3,946,0852018Assets 2019: $6,630,396Liabilities 2019: $502,166Net Assets 2019: $6,128,2302019Assets 2020: $6,630,396Liabilities 2020: $502,166Net Assets 2020: $6,128,2302020

Highlighted filing

2018

Assets$5,023,135
Liabilities$1,077,050
Net Assets$3,946,085
Open 2018 Filing

Operations Trend

Revenue Growth83rd percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $4,296,315Expenses 2011: $4,271,511Net Income 2011: $24,8042011Revenue 2012: $5,962,996Expenses 2012: $5,759,015Net Income 2012: $203,9812012Revenue 2013: $4,701,463Expenses 2013: $4,180,418Net Income 2013: $521,0452013Revenue 2014: $6,099,222Expenses 2014: $6,293,351Net Income 2014: -$194,1292014Revenue 2015: $9,943,836Expenses 2015: $9,801,600Net Income 2015: $142,2362015Revenue 2016: $8,512,769Expenses 2016: $8,767,710Net Income 2016: -$254,9412016Revenue 2017: $9,426,650Expenses 2017: $9,297,534Net Income 2017: $129,1162017Revenue 2018: $12,131,174Expenses 2018: $9,766,022Net Income 2018: $2,365,1522018Revenue 2019: $12,855,041Expenses 2019: $10,672,896Net Income 2019: $2,182,1452019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020

Highlighted filing

2018

Revenue$12,131,174
Expenses$9,766,022
Net Income$2,365,152
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 13, 2019
Return Version
2017v2.2
Gross Receipts
$12,131,174
Mission and Program Overview

Mission

Kvec serves 19 local boards of education by providing payroll and professional development services, technology support, and adminstration of federal/state grants

Kvec serves local boards of education by providing payroll and professional development service technology support and adminstration of federal and state grants

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,873,793$3,929,177▲ $2,055,384
Accounts Receivable$600,228$1,093,837▲ $493,609
Other Notes and Loans Receivable, Net$121$121→ $0
Total Assets$2,474,142$5,023,135▲ $2,548,993
Liabilities
Accounts Payable and Accrued Expenses$901,525$1,077,050▲ $175,525
Total Liabilities$901,525$1,077,050▲ $175,525
Net Assets / Fund Balance
Unrestricted Net Assets$1,572,617$2,763,434▲ $1,190,817
Temporarily Rstr Net Assets-$1,182,651-
Total Net Assets Fund Balance$1,572,617$3,946,085▲ $2,373,468
Total Liabilities and Net Assets / Fund Balance$2,474,142$5,023,135▲ $2,548,993
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff HawkinsExec DirectorFT$156,772$24,953$181,725
Dessie BowlingAssistant DirectorFT$144,309$30,551$174,860

Board Members and Trustees

NameTitle
Scott HeltonBoard Chair
Steve MartinBoard Chair
David GibsonVice Chair
Brent RoarkBoard Member
James EvansBoard Member
Jerry GreenBoard Member
Jim YountBoard Member
Jonathan JettBoard Member
Kenny BellBoard Member
Kim KingBoard Member
Larry JamesBoard Member
Linda RainsBoard Member
Mike GentonBoard Member
Phillip WattsBoard Member
Reed AdkinsBoard Member
Sandy JohnsonBoard Member
Sean HowardBoard Member
Steven TrimbleBoard Member
Thom CochranBoard Member
Tim BobrowskiBoard Member
Tony SergentBoard Member
R FletcherBoard Memeber
Revenue and Support

Revenue Composition

Contributions and Grants
$10,901,786
Program Service Revenue
$1,227,147
Investment Income
$2,241
Other Revenue
$0
Change in Net Assets
$2,365,152

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,948,523
Total Revenue per Audited Statements
$10,948,523
Total Revenue per Form 990
$10,948,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,102,195
Salaries, Compensation, and Employee Benefits$2,663,827
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$4,928,119$71,868-$4,999,987
Other Salaries and Wages$2,509,895--$2,509,895
Other Expenses---$753,539
Travel$258,091$123-$258,214
Current Officers, Directors, Trustees, and Key Employees$32,769$121,163-$153,932
Office Expenses-$41,572-$41,572
Payment Travel Entrtnmnt Publicly Ofcl$3,156--$3,156
Total Functional Expenses$8,798,857$967,165$0$9,766,022

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,766,022
Total Expenses per Audited Statements$9,766,022
Total Expenses per Form 990$9,766,022
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Section B Line 11B

“The business manager and executive director review the tax return and approve prior to submission to the irs”

Part VI Section B Line 12C

“Vendors are pre-approved by the board of directors employees monitor the vendor list to ensure compliance the board deals with conflict of interest issues at meetings”

Part VI Section C Line 19

“Kvec make its governing documents, policies and financial information available to the public upon request to the business office”

Filing and Contact Details

Filer

Filer Name
Kentucky Valley Educational
EIN
61-0729917
Phone
6064363161
Address
412 ROY CAMPBELL DRIVE, Hazard, KY 41701

Signing Officer

Name
Jeff Hawkins
Title
Executive Director
Signed
2019-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Hawkins
Legal Domicile
Ky
Voting Board Members
22
Independent Board Members
22
Employees
48

Preparer

Firm
Morgan and Associates LLC
Address
749 BROADWAY STREET, WEST LIBERTY, KY 41472
Preparer
Brenda K Morgan CPA
Phone
6067431884
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BUSINESS MANAGER AND EXECUTIVE DIRECTOR REVIEW THE TAX RETURN AND APPROVE PRIOR TO SUBMISSION TO THE IRS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VENDORS ARE PRE-APPROVED BY THE BOARD OF DIRECTORS EMPLOYEES MONITOR THE VENDOR LIST TO ENSURE COMPLIANCE THE BOARD DEALS WITH CONFLICT OF INTEREST ISSUES AT MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2KVEC MAKE ITS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC UPON REQUEST TO THE BUSINESS OFFICE
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI SECTION B LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI SECTION C LINE 19
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,023,135
Liabilities
$1,077,050
Net assets
$3,946,085
Revenue
$12,131,174
Expenses
$9,766,022
Net income
$2,365,152
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$6.63$0.50$6.13$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$6.63$0.50$6.13$12.9$10.7$2.18
2018Detailed filing. Detailed filing data is available for this year.$5.02$1.08$3.95$12.1$9.77$2.37
2017Detailed filing. Detailed filing data is available for this year.$2.47$0.90$1.57$9.43$9.30$0.13
2016Detailed filing. Detailed filing data is available for this year.$2.37$0.92$1.44$8.51$8.77$0.25
2015Detailed filing. Detailed filing data is available for this year.$2.76$1.06$1.70$9.94$9.80$0.14
2014Detailed filing. Detailed filing data is available for this year.$2.76$1.21$1.55$6.10$6.29$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.98$0.24$1.74$4.70$4.18$0.52
2012Summary only. Only limited summary data is available for this year.$1.50$0.29$1.21$5.96$5.76$0.20
2011Summary only. Only limited summary data is available for this year.$1.08$0.12$0.96$4.30$4.27$0.02