Civic Intelligence

Southeast Kentucky Economic Development Corporation Inc.

990 • Fiscal year 2024 • EIN 61-1097619

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 30, 2024

Organization ProfileSKEDCORP.COM
2292 South Highway 27Somerset, KY 42501

(606) 677-6100

Siviq Scores

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

Liabilities / Assets

46th percentile

0.18x

Higher debt load relative to assets than 46% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

87th percentile

2.13x

Higher debt load relative to revenue than 87% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

67th percentile

12%

Higher net margin than 67% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

38th percentile

$213,353

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

51st percentile

6.0%

Faster asset growth than 51% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

46th percentile

6.6%

Faster revenue growth than 46% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$30,344,227

Up $1,705,036 (+6.0%) from 2023

Net Assets

Up

$24,886,668

Up $313,861 (+1.3%) from 2023

Liabilities

Up

$5,457,559

Up $1,391,175 (+34%) from 2023

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin67th percentile

Revenue

Up

$2,561,251

Up $158,028 (+6.6%) from 2023

Expenses

Up

$2,247,390

Up $253,003 (+13%) from 2023

Net Income

Down

$313,861

Down $94,975 (-23%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$40M$30M$20M$10M$0Assets 2011: $25,289,014Liabilities 2011: $4,289,079Net Assets 2011: $20,999,9352011Assets 2012: $25,912,052Liabilities 2012: $4,510,445Net Assets 2012: $21,401,6072012Assets 2013: $26,186,740Liabilities 2013: $4,437,343Net Assets 2013: $21,749,3972013Assets 2014: $25,598,046Liabilities 2014: $4,263,708Net Assets 2014: $21,334,3382014Assets 2015: $24,619,937Liabilities 2015: $3,868,251Net Assets 2015: $20,751,6862015Assets 2016: $24,485,200Liabilities 2016: $3,496,060Net Assets 2016: $20,989,1402016Assets 2017: $24,402,501Liabilities 2017: $3,196,809Net Assets 2017: $21,205,6922017Assets 2018: $23,989,118Liabilities 2018: $2,704,293Net Assets 2018: $21,284,8252018Assets 2019: $23,300,793Liabilities 2019: $2,078,403Net Assets 2019: $21,222,3902019Assets 2020: $24,214,233Liabilities 2020: $2,761,766Net Assets 2020: $21,452,4672020Assets 2021: $25,814,472Liabilities 2021: $2,995,081Net Assets 2021: $22,819,3912021Assets 2022: $28,123,081Liabilities 2022: $3,959,110Net Assets 2022: $24,163,9712022Assets 2023: $28,639,191Liabilities 2023: $4,066,384Net Assets 2023: $24,572,8072023Assets 2024: $30,344,227Liabilities 2024: $5,457,559Net Assets 2024: $24,886,6682024Assets 2025: $32,616,890Liabilities 2025: $6,716,135Net Assets 2025: $25,900,7552025

Highlighted filing

2024

Assets$30,344,227
Liabilities$5,457,559
Net Assets$24,886,668
Open 2024 Filing

Operations Trend

Revenue Growth46th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,527,4722011Expenses 2012: $1,565,8562012Expenses 2013: $1,639,0332013Revenue 2014: $1,166,397Expenses 2014: $1,581,456Net Income 2014: -$415,0592014Revenue 2015: $1,060,200Expenses 2015: $1,642,852Net Income 2015: -$582,6522015Revenue 2016: $1,893,047Expenses 2016: $1,655,593Net Income 2016: $237,4542016Revenue 2017: $2,077,750Expenses 2017: $1,861,198Net Income 2017: $216,5522017Revenue 2018: $1,794,249Expenses 2018: $1,715,116Net Income 2018: $79,1332018Revenue 2019: $1,655,461Expenses 2019: $1,717,896Net Income 2019: -$62,4352019Revenue 2020: $2,793,965Expenses 2020: $2,563,888Net Income 2020: $230,0772020Revenue 2021: $3,649,042Expenses 2021: $2,282,118Net Income 2021: $1,366,9242021Revenue 2022: $3,726,346Expenses 2022: $2,381,766Net Income 2022: $1,344,5802022Revenue 2023: $2,403,223Expenses 2023: $1,994,387Net Income 2023: $408,8362023Revenue 2024: $2,561,251Expenses 2024: $2,247,390Net Income 2024: $313,8612024Revenue 2025: $3,440,740Expenses 2025: $2,426,653Net Income 2025: $1,014,0872025

Highlighted filing

2024

Revenue$2,561,251
Expenses$2,247,390
Net Income$313,861
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 30, 2024
Return Version
2023v5.0
Gross Receipts
$2,561,251
Mission and Program Overview

Mission

To facilitate the economic growth and development of the southern kentucky region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$13,561,246$13,708,574▲ $147,328
Cash and Non-Interest-Bearing Accounts$8,968,882$11,591,709▲ $2,622,827
Land, Buildings, and Equipment, Net$4,897,365$4,530,867▼ $366,498
Investments in Publicly Traded Securities$500,008--
Pledges and Grants Receivable$498,329$275,809▼ $222,520
Accounts Receivable$72,398$96,305▲ $23,907
Total Assets$28,639,191$30,344,227▲ $1,705,036
Other Assets Total$140,963$140,963→ $0
Liabilities
Other Liabilities$4,034,680$5,442,415▲ $1,407,735
Accounts Payable and Accrued Expenses$17,398$15,144▼ $2,254
Deferred Revenue$14,306--
Total Liabilities$4,066,384$5,457,559▲ $1,391,175
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,572,807$24,886,668▲ $313,861
Total Net Assets Fund Balance$24,572,807$24,886,668▲ $313,861
Total Liabilities and Net Assets / Fund Balance$28,639,191$30,344,227▲ $1,705,036

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,407,293$6,246,788$10,654,081
Land$120,147-$120,147
Other Land Buildings$280$33,314$33,594
Equipment$3,147$20,666$23,813
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brett TraverExecutive DiFT$180,653$32,700$213,353
Brett TraverExecutive Director-$180,653$32,700$213,353
Bob BurgessDirector ofFT$133,900$23,052$156,952
Bob BurgessDirector of Lending-$133,900$23,052$156,952

Board Members and Trustees

NameTitle
Carol WrightPresident
Amanda ClarkDirector
Charlene HarrisDirector
Corey CraigDirector
Darryl McgahaDirector
Daryl SmithDirector
Jennifer LindonDirector
Steve AllenDirector
Virginia FlanaganDirector
David BlakemanSecretary
Bruce CarpenterTreasurer
Tim BarnesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$987,376
Program Service Revenue
$1,103,906
Investment Income
$429,011
Other Revenue
$40,958
All Other Contributions
$50,801
Change in Net Assets
$313,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,561,251
Total Revenue per Audited Statements
$2,561,251
Total Revenue per Form 990
$2,561,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,208,886
Salaries, Compensation, and Employee Benefits$1,038,504
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$528,300$280,817-$809,117
Depreciation Depletion$366,496--$366,496
Other Employee Benefits$114,080$57,501-$171,581
All Other Expenses$49,707$16,123-$65,830
Payroll Taxes$38,091$19,715-$57,806
Other Expenses$15,616$30,410-$46,026
Office Expenses$40,508$73-$40,581
Conferences and Meetings$13,275$14,908-$28,183
Occupancy$14,681$12,562-$27,243
Insurance$6,305$19,686-$25,991
Interest$24,366--$24,366
Total Functional Expenses$1,722,553$524,837$0$2,247,390

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,247,390
Total Expenses per Audited Statements$2,247,390
Total Expenses per Form 990$2,247,390
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable$4,239,961
Unearned Grant Funds$1,009,809
Operating Lease Liabilities$100,959
Accrued Vacation Pay$79,599
Interest Payable$12,087
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Southeast Kentucky Economic
EIN
61-1097619
Phone
6066776100
Address
2292 SOUTH HIGHWAY 27, SOMERSET, KY 42501

Signing Officer

Name
Brett Traver
Title
Executive Director
Phone
6066776100
Signed
2024-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Traver
Formed
1986
Legal Domicile
Ky
Voting Board Members
12
Independent Board Members
12
Employees
10

Preparer

Firm
Evans Harville Atwell & Co Cpas Pllc
Address
PO BOX 1309, SOMERSET, KY 42502-1309
Preparer
Jon R Harville CPA
Phone
6066795090
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Administers loan programs to qualified businesses for new and expanding”

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.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt017398
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt015144
IRS990/AccountsReceivableGrp/BOYAmt072398
IRS990/AccountsReceivableGrp/EOYAmt096305
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0TO FACILITATE THE ECONOMIC GROWTH AND DEVELOPMENT OF THE SOUTHERN KENTUCKY REGION.
IRS990/AllOtherContributionsAmt050801
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt016123
IRS990/AllOtherExpensesGrp/ProgramServicesAmt049707
IRS990/AllOtherExpensesGrp/TotalAmt065830
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0SOUTHEAST KENTUCKY ECONOMIC
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION INC
IRS990/BooksInCareOfDetail/PhoneNum06066776100
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt02292 S HWY 27
IRS990/BooksInCareOfDetail/USAddress/CityNm0SOMERSET
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0KY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd042501
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt08968882
IRS990/CashNonInterestBearingGrp/EOYAmt011591709
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt014908
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt013275
IRS990/ConferencesMeetingsGrp/TotalAmt028183
IRS990/ConflictOfInterestPolicyInd0false
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0987376
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0429011
IRS990/CYOtherExpensesAmt01208886
IRS990/CYOtherRevenueAmt040958
IRS990/CYProgramServiceRevenueAmt01103906
IRS990/CYRevenuesLessExpensesAmt0313861
IRS990/CYSalariesCompEmpBnftPaidAmt01038504
IRS990/CYTotalExpensesAmt02247390
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt02561251
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt014306
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0366496
IRS990/DepreciationDepletionGrp/TotalAmt0366496
IRS990/Desc0ADMINISTERS LOAN PROGRAMS TO QUALIFIED BUSINESSES FOR NEW AND EXPANDING INDUSTRY IN THE SERVICE AREA.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt010
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt01356057
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditPerformedInd0true
IRS990/FederalGrantAuditRequiredInd0true
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt92.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt102.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt112.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1240.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1340.00
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1232700
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1323052
IRS990/Form990PartVIISectionAGrp/PersonNm0CAROL WRIGHT
IRS990/Form990PartVIISectionAGrp/PersonNm1TIM BARNES
IRS990/Form990PartVIISectionAGrp/PersonNm2DAVID BLAKEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm3BRUCE CARPENTER
IRS990/Form990PartVIISectionAGrp/PersonNm4COREY CRAIG
IRS990/Form990PartVIISectionAGrp/PersonNm5CHARLENE HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm6JENNIFER LINDON
IRS990/Form990PartVIISectionAGrp/PersonNm7DARRYL MCGAHA
IRS990/Form990PartVIISectionAGrp/PersonNm8VIRGINIA FLANAGAN
IRS990/Form990PartVIISectionAGrp/PersonNm9STEVE ALLEN
IRS990/Form990PartVIISectionAGrp/PersonNm10DARYL SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm11AMANDA CLARK
IRS990/Form990PartVIISectionAGrp/PersonNm12BRETT TRAVER
IRS990/Form990PartVIISectionAGrp/PersonNm13BOB BURGESS
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12180653
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13133900
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR OF
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt0936575
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt02561251
IRS990/GrossRentsGrp/RealAmt036782
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt019686
IRS990/InsuranceGrp/ProgramServicesAmt06305
IRS990/InsuranceGrp/TotalAmt025991
IRS990/InterestGrp/ProgramServicesAmt024366
IRS990/InterestGrp/TotalAmt024366
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0429011
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0429011
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0500008
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt06300768
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04897365
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04530867
IRS990/LandBldgEquipCostOrOtherBssAmt010831635
IRS990/LegalDomicileStateCd0KY
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO FACILITATE THE ECONOMIC GROWTH AND DEVELOPMENT OF THE SOUTHERN KENTUCKY REGION.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt024572807
IRS990/NetAssetsOrFundBalancesEOYAmt024886668
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt036782
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt036782
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt024572807
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt024886668
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt012562
IRS990/OccupancyGrp/ProgramServicesAmt014681
IRS990/OccupancyGrp/TotalAmt027243
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt073
IRS990/OfficeExpensesGrp/ProgramServicesAmt040508
IRS990/OfficeExpensesGrp/TotalAmt040581
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0140963
IRS990/OtherAssetsTotalGrp/EOYAmt0140963
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt057501
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0114080
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0171581
IRS990/OtherExpensesGrp/Desc0CONTRACTUAL
IRS990/OtherExpensesGrp/Desc1ENTERPRISE CENTER
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL FEES
IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt036987
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt136055
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt230410
IRS990/OtherExpensesGrp/ProgramServicesAmt0423709
IRS990/OtherExpensesGrp/ProgramServicesAmt164259
IRS990/OtherExpensesGrp/ProgramServicesAmt223160
IRS990/OtherExpensesGrp/ProgramServicesAmt315616
IRS990/OtherExpensesGrp/TotalAmt0460696
IRS990/OtherExpensesGrp/TotalAmt164259
IRS990/OtherExpensesGrp/TotalAmt259215
IRS990/OtherExpensesGrp/TotalAmt346026
IRS990/OtherLiabilitiesGrp/BOYAmt04034680
IRS990/OtherLiabilitiesGrp/EOYAmt05442415
IRS990/OtherRevenueMiscGrp/Desc0LATE FEE
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03448
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1728
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03448
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1728
IRS990/OtherRevenueTotalAmt04176
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0280817
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0528300
IRS990/OtherSalariesAndWagesGrp/TotalAmt0809117
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt013561246
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt013708574
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt019715
IRS990/PayrollTaxesGrp/ProgramServicesAmt038091
IRS990/PayrollTaxesGrp/TotalAmt057806
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0498329
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0275809
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0BRETT TRAVER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM INCOME
IRS990/ProgramServiceRevenueGrp/Desc1SOMERSET RAIL PARK INCOME
IRS990/ProgramServiceRevenueGrp/Desc2LOAN CLOSING FEES
IRS990/ProgramServiceRevenueGrp/Desc3BAD DEBT RECOVERY
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0882100
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1205559
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt211097
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35150
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0882100
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1205559
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt211097
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35150
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ADMINISTERS LOAN PROGRAMS TO QUALIFIED BUSINESSES FOR NEW AND EXPANDING
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0366496
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01363614
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-94023
IRS990/PYOtherExpensesAmt01029400
IRS990/PYOtherRevenueAmt061406
IRS990/PYProgramServiceRevenueAmt01072226
IRS990/PYRevenuesLessExpensesAmt0408836
IRS990/PYSalariesCompEmpBnftPaidAmt0964987
IRS990/PYTotalExpensesAmt01994387
IRS990/PYTotalRevenueAmt02403223
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0313861
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt036782
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0987376
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01363614
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02569257
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01903431
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01406288
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt08229966
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt07233317
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt08229966
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0987376
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01363614
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02569257
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01903431
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01406288
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08229966
IRS990ScheduleA/TotalSupportAmt08229966
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt04407293
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06246788
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010654081
IRS990ScheduleD/EquipmentGrp/BookValueAmt03147
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020666
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023813
IRS990ScheduleD/ExpensesSubtotalAmt02247390
IRS990ScheduleD/LandGrp/BookValueAmt0120147
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0120147
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0280
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033314
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt033594
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04239961
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11009809
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2100959
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt379599
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt412087
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1UNEARNED GRANT FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OPERATING LEASE LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED VACATION PAY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4INTEREST PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt02561251
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04530867
IRS990ScheduleD/TotalExpensesPerForm990Amt02247390
IRS990ScheduleD/TotalLiabilityAmt05442415
IRS990ScheduleD/TotalRevenuePerForm990Amt02561251
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02561251
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02247390
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0180653
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1133900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt032700
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt123052
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRETT TRAVER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BOB BURGESS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR OF LENDING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0213353
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1156952
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADMINISTERS LOAN PROGRAMS TO QUALIFIED BUSINESSES FOR NEW AND EXPANDING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,344,227
Liabilities
$5,457,559
Net assets
$24,886,668
Revenue
$2,561,251
Expenses
$2,247,390
Net income
$313,861
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.6$6.72$25.9$3.44$2.43$1.01
2024Detailed filing. Detailed filing data is available for this year.$30.3$5.46$24.9$2.56$2.25$0.31
2023Detailed filing. Detailed filing data is available for this year.$28.6$4.07$24.6$2.40$1.99$0.41
2022Detailed filing. Detailed filing data is available for this year.$28.1$3.96$24.2$3.73$2.38$1.34
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$3.00$22.8$3.65$2.28$1.37
2020Detailed filing. Detailed filing data is available for this year.$24.2$2.76$21.5$2.79$2.56$0.23
2019Detailed filing. Detailed filing data is available for this year.$23.3$2.08$21.2$1.66$1.72$0.06
2018Detailed filing. Detailed filing data is available for this year.$24.0$2.70$21.3$1.79$1.72$0.08
2017Detailed filing. Detailed filing data is available for this year.$24.4$3.20$21.2$2.08$1.86$0.22
2016Detailed filing. Detailed filing data is available for this year.$24.5$3.50$21.0$1.89$1.66$0.24
2015Detailed filing. Detailed filing data is available for this year.$24.6$3.87$20.8$1.06$1.64$0.58
2014Detailed filing. Detailed filing data is available for this year.$25.6$4.26$21.3$1.17$1.58$0.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.2$4.44$21.7$1.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$4.51$21.4$1.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.3$4.29$21.0$1.53