Civic Intelligence

Kentucky Valley Educational Cooperative

990 • Fiscal year 2020 • EIN 61-0729917

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 15, 2021

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

37th percentile

0.08x

Higher debt load relative to assets than 37% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2020

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

95th percentile

101%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$5,273,884

Down $1,356,512 (-20%) from 2019

Net Assets

Down

$5,151,334

Down $976,896 (-16%) from 2019

Liabilities

Down

$122,550

Down $379,616 (-76%) from 2019

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$3,860,402

Down $8,994,639 (-70%) from 2019

Expenses

Down

$4,917,297

Down $5,755,599 (-54%) from 2019

Net Income

Down

-$1,056,895

Down $3,239,040 (-148%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth95th 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: $6,128,2302020Assets 2020: $5,273,884Liabilities 2020: $122,550Net Assets 2020: $5,151,3342020

Highlighted filing

2020

Assets$5,273,884
Liabilities$122,550
Net Assets$5,151,334
Open 2020 Filing

Operations Trend

Revenue Growth1st 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: $02020Revenue 2020: $3,860,402Expenses 2020: $4,917,297Net Income 2020: -$1,056,8952020

Highlighted filing

2020

Revenue$3,860,402
Expenses$4,917,297
Net Income-$1,056,895
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 15, 2021
Return Version
2019v5.1
Gross Receipts
$3,860,402
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 22 local boards of education by providing payroll and professional development services, technology support, and administration of federal state grants

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,623,190$4,805,101▼ $818,089
Accounts Receivable$1,007,085$468,783▼ $538,302
Inventories for Sale or Use$121--
Total Assets$6,630,396$5,273,884▼ $1,356,512
Liabilities
Deferred Revenue-$88,649-
Accounts Payable and Accrued Expenses$502,166$33,901▼ $468,265
Total Liabilities$502,166$122,550▼ $379,616
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,488,868$5,119,704▼ $369,164
Net Assets With Donor Restrictions$639,362$31,630▼ $607,732
Total Net Assets Fund Balance$6,128,230$5,151,334▼ $976,896
Total Liabilities and Net Assets / Fund Balance$6,630,396$5,273,884▼ $1,356,512
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Dessie BowlingAssistant Director
Brent RoarkBoard Member
Brett WilsonBoard Member
Charles MortonBoard Member
Damian JohnsonBoard Member
Danny AdkinsBoard Member
David GibsonBoard Member
David TrimbleBoard Member
Denise YontsBoard Member
Jonathan JettBoard Member
Kenny BellBoard Member
Kim KingBoard Member
Larry JamesBoard Member
Paul GreenBoard Member
Phillip WattsBoard Member
Reed AdkinsBoard Member
Robbie FletcherBoard Member
Sarah WassonBoard Member
Scott HeltonBoard Member
Sean HowardBoard Member
Sondra CombsBoard Member
Thom CochranBoard Member
Tim BobrowskiBoard Member
Waylon AllenBoard Member
Jerry GreenExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$3,847,843
Program Service Revenue
$0
Investment Income
$12,559
Other Revenue
$0
Change in Net Assets
$-1,056,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,750,420
Other Expenses$2,166,877
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,442,569--$2,442,569
All Other Expenses$1,260,458--$1,260,458
Other Employee Benefits$307,851--$307,851
Travel$145,648--$145,648
Office Expenses$27,389--$27,389
Other Expenses$4,553--$4,553
Conferences and Meetings$-865--$-865
Total Functional Expenses$4,917,297$0$0$4,917,297
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“...”

Form 990 governing body review Part VI line 11

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

Conflict of interest policy compliance Part VI line 12C

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

Governing documents etc available to public Part VI line 19

“Kvec makes 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
Address
412 ROY CAMPBELL DRIVE, HAZARD, KY 41701
Doing Business As
Cooperative

Signing Officer

Name
Jerry Green
Title
Incorporator
Phone
6064363161
Signed
2021-02-15
Discuss with paid preparer
No

Organization Details

Formed
2017
Legal Domicile
Ky
Voting Board Members
22
Independent Board Members
22
Employees
48

Preparer

Firm
White & Associates PSC
Address
1407 Lexington Road, Richmond, KY 40475
Preparer
Rupert E White
Phone
8596243926
Supplemental Narrative

Additional Explanations

Amended return information

“Final audit completed amended tax return”

List of other expenses Part IX line 24E

“Contractual 2316247contractual 67564 contractual services for programs”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FINAL AUDIT COMPLETED AMENDED TAX RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1...
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BUSINESS MANAGER AND EXECUTIVE DIRECTOR REVIEW THE TAX RETURN AND APPROVE PRIOR TO SUBMISSION TO THE IRS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3VENDORS ARE PRE-APPROVED BY THE BOARD OF DIRECTORS EMPLOYEES MONIRTOR THE VENDOR LIST TO ENSURE COMPLIANCE THE BOARD DEALS WITH CONFLICT OF INTEREST ISSUES AT MEETINGS

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,273,884
Liabilities
$122,550
Net assets
$5,151,334
Revenue
$3,860,402
Expenses
$4,917,297
Net income
-$1,056,895
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
2020Detailed filing. Detailed filing data is available for this year.$5.27$0.12$5.15$3.86$4.92$1.06
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