Civic Intelligence

Prestonsburg Economic Development Foundation

990 • Fiscal year 2019 • EIN 61-1326954

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 06, 2020

Organization ProfileN/A
119 East Court Street No Ste 2APrestonsburg, KY 41653

(606) 886-6946

Siviq Scores

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

Liabilities / Assets

77th percentile

0.34x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

23.87x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

3rd percentile

-107%

Higher net margin than 3% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

29th percentile

-1.5%

Faster asset growth than 29% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

53rd percentile

3.6%

Faster revenue growth than 53% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$1,042,092

Down $15,731 (-1.5%) from 2018

Net Assets

Down

$692,092

Down $15,731 (-2.2%) from 2018

Liabilities

Flat

$350,000

Flat from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$14,663

Up $503 (+3.6%) from 2018

Expenses

Up

$30,394

Up $37 (+0.1%) from 2018

Net Income

Up

-$15,731

Up $466 (+2.9%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $758,645Liabilities 2011: $0Net Assets 2011: $758,6452011Assets 2012: $756,043Liabilities 2012: $0Net Assets 2012: $756,0432012Assets 2013: $758,885Liabilities 2013: $0Net Assets 2013: $758,8852013Assets 2014: $760,821Liabilities 2014: $0Net Assets 2014: $760,8212014Assets 2015: $1,109,212Liabilities 2015: $350,000Net Assets 2015: $759,2122015Assets 2016: $1,086,783Liabilities 2016: $350,000Net Assets 2016: $736,7832016Assets 2017: $1,074,020Liabilities 2017: $350,000Net Assets 2017: $724,0202017Assets 2018: $1,057,823Liabilities 2018: $350,000Net Assets 2018: $707,8232018Assets 2019: $1,042,092Liabilities 2019: $350,000Net Assets 2019: $692,0922019Assets 2020: $1,045,992Liabilities 2020: $350,000Net Assets 2020: $695,9922020Assets 2021: $1,035,295Liabilities 2021: $350,000Net Assets 2021: $685,2952021Assets 2022: $1,015,375Liabilities 2022: $338,843Net Assets 2022: $676,5322022Assets 2023: $999,496Liabilities 2023: $344,338Net Assets 2023: $655,1582023Assets 2024: $661,283Liabilities 2024: $0Net Assets 2024: $661,2832024Assets 2025: $653,218Liabilities 2025: $0Net Assets 2025: $653,2182025

Highlighted filing

2019

Assets$1,042,092
Liabilities$350,000
Net Assets$692,092
Open 2019 Filing

Operations Trend

Revenue Growth53rd percentile

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

$50K$0-$50K-$100KRevenue 2011: -$32,083Expenses 2011: $42,247Net Income 2011: -$74,3302011Revenue 2012: $16,272Expenses 2012: $18,874Net Income 2012: -$2,6022012Revenue 2013: $15,273Expenses 2013: $12,431Net Income 2013: $2,8422013Revenue 2014: $16,536Expenses 2014: $14,600Net Income 2014: $1,9362014Revenue 2015: $16,563Expenses 2015: $18,172Net Income 2015: -$1,6092015Revenue 2016: $13,722Expenses 2016: $36,151Net Income 2016: -$22,4292016Revenue 2017: $14,214Expenses 2017: $26,977Net Income 2017: -$12,7632017Revenue 2018: $14,160Expenses 2018: $30,357Net Income 2018: -$16,1972018Revenue 2019: $14,663Expenses 2019: $30,394Net Income 2019: -$15,7312019Revenue 2020: $24,602Expenses 2020: $20,701Net Income 2020: $3,9012020Revenue 2021: $15,543Expenses 2021: $26,240Net Income 2021: -$10,6972021Revenue 2022: $17,297Expenses 2022: $26,060Net Income 2022: -$8,7632022Revenue 2023: $17,288Expenses 2023: $38,662Net Income 2023: -$21,3742023Revenue 2024: $24,728Expenses 2024: $18,603Net Income 2024: $6,1252024Revenue 2025: $27,364Expenses 2025: $35,429Net Income 2025: -$8,0652025

Highlighted filing

2019

Revenue$14,663
Expenses$30,394
Net Income-$15,731
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 6, 2020
Return Version
2019v5.1
Gross Receipts
$14,663
Mission and Program Overview

Mission

The organizations primary mission is to perform industrial development that will improve the community.

Industrial development to improve community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$974,649$974,649→ $0
Rtn Earn Endowment Incm Other Fnds$707,823$692,092▼ $15,731
Cash and Non-Interest-Bearing Accounts$83,174$67,443▼ $15,731
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,057,823$1,042,092▼ $15,731
Liabilities
Mortgage Notes Payable Secured by Investment Property$350,000$350,000→ $0
Total Liabilities$350,000$350,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$707,823$692,092▼ $15,731
Total Liabilities and Net Assets / Fund Balance$1,057,823$1,042,092▼ $15,731

Asset Categories

AssetBook ValueDepreciationBasis
Land$974,649-$974,649
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Edward R NairnChairman
Beau SpurlockDirector
Estill L CarterDirector
Greg WilsonDirector
Henry O HackworthDirector
John WilloughbyDirector
Paul P HughesDirector
Thomas NairnDirector
Burl W SpurlockSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$131
Other Revenue
$14,532
Change in Net Assets
$-15,731
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$30,394
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
Interest-$18,740-$18,740
Fees for Services Other-$1,703-$1,703
Other Expenses-$526-$526
Advertising-$500-$500
Office Expenses-$109-$109
Total Functional Expenses$0$30,394$0$30,394
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Greg WilsonDIRECTOR OF ORGANIZATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Director.No-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
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, Section A, Line 2

“Board members burl spurlock and beau spurlock are father and son, as are board members edward r. Nairn and thomas nairn. Greg wilson is the nephew of burl spurlock by marriage.”

Form 990, Part VI, Section B, Line 11B

“The tax return is prepared by a regional cpa firm on behalf of the board. Various board members review the return and any related schedules prior to its filing. Any inaccuracies found at that time are discussed with the cpa and corrections are made before the organization files the tax return.”

Form 990, Part VI, Section C, Line 19

“No documents, policies, etc. Are regularly published. Upon request, the organization provides copies of its governing documents and policies as well as any financial statements that have been prepared.”

Filing and Contact Details

Filer

Filer Name
Prestonsburg Economic Development
EIN
61-1326954
Phone
6068866946
Address
119 EAST COURT STREET NO STE 2A, PRESTONSBURG, KY 41653

Signing Officer

Name
Burl W Spurlock
Title
Secretary
Phone
6068862321
Signed
2020-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Burl W Spurlock
Formed
2004
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Griffith Delaney Hillman & Lett
Address
PO BOX 1360, ASHLAND, KY 41105-1360
Preparer
Tracy Neal Hillman
Phone
6063291656
Raw XML Appendix322 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/AccountantCompileOrReviewInd00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0INDUSTRIAL DEVELOPMENT TO IMPROVE COMMUNITY
IRS990/AdvertisingGrp/ManagementAndGeneralAmt0500
IRS990/AdvertisingGrp/TotalAmt0500
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0BURL SPURLOCK
IRS990/BooksInCareOfDetail/PhoneNum06068862321
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0119 EAST COURT STREET STE 2A
IRS990/BooksInCareOfDetail/USAddress/CityNm0PRESTONSBURG
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0KY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd041653
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd01
IRS990/BusinessRlnWithOrgMemInd01
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt083174
IRS990/CashNonInterestBearingGrp/EOYAmt067443
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0131
IRS990/CYOtherExpensesAmt030394
IRS990/CYOtherRevenueAmt014532
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-15731
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt030394
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt014663
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0LAND DEVELOPMENT COSTS OF $0.00 WERE CAPITALIZED THIS YEAR TO IMPROVE THE INDUSTRIAL SITE
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/FamilyOrBusinessRlnInd01
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt01703
IRS990/FeesForServicesOtherGrp/TotalAmt01703
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.00
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/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
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/PersonNm0EDWARD R NAIRN
IRS990/Form990PartVIISectionAGrp/PersonNm1BURL W SPURLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm2PAUL P HUGHES
IRS990/Form990PartVIISectionAGrp/PersonNm3HENRY O HACKWORTH
IRS990/Form990PartVIISectionAGrp/PersonNm4THOMAS NAIRN
IRS990/Form990PartVIISectionAGrp/PersonNm5BEAU SPURLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm6JOHN WILLOUGHBY
IRS990/Form990PartVIISectionAGrp/PersonNm7ESTILL L CARTER
IRS990/Form990PartVIISectionAGrp/PersonNm8GREG WILSON
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/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/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02004
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt014663
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt018740
IRS990/InterestGrp/TotalAmt018740
IRS990/InvestmentIncomeGrp/ExclusionAmt0131
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0131
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0974649
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0974649
IRS990/LandBldgEquipCostOrOtherBssAmt0974649
IRS990/LegalDomicileStateCd0KY
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION'S PRIMARY MISSION IS TO PERFORM INDUSTRIAL DEVELOPMENT THAT WILL IMPROVE THE COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0350000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0350000
IRS990/NetAssetsOrFundBalancesBOYAmt0707823
IRS990/NetAssetsOrFundBalancesEOYAmt0692092
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0109
IRS990/OfficeExpensesGrp/TotalAmt0109
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TAXES AND LICENSES
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE O
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08816
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1526
IRS990/OtherExpensesGrp/TotalAmt08816
IRS990/OtherExpensesGrp/TotalAmt1526
IRS990/OtherRevenueMiscGrp/BusinessCd0900001
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt0440
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0440
IRS990/OtherRevenueTotalAmt0440
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0BURL W SPURLOCK
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt030
IRS990/PYOtherExpensesAmt030357
IRS990/PYOtherRevenueAmt014130
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-16197
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt030357
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt014160
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-15731
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt014092
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt014092
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0707823
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0692092
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/LandGrp/BookValueAmt0974649
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0974649
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0974649
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GREG WILSON
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR OF ORGANIZATION'S BANK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND DIRECTOR.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS BURL SPURLOCK AND BEAU SPURLOCK ARE FATHER AND SON, AS ARE BOARD MEMBERS EDWARD R. NAIRN AND THOMAS NAIRN. GREG WILSON IS THE NEPHEW OF BURL SPURLOCK BY MARRIAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN IS PREPARED BY A REGIONAL CPA FIRM ON BEHALF OF THE BOARD. VARIOUS BOARD MEMBERS REVIEW THE RETURN AND ANY RELATED SCHEDULES PRIOR TO ITS FILING. ANY INACCURACIES FOUND AT THAT TIME ARE DISCUSSED WITH THE CPA AND CORRECTIONS ARE MADE BEFORE THE ORGANIZATION FILES THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS, POLICIES, ETC. ARE REGULARLY PUBLISHED. UPON REQUEST, THE ORGANIZATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS AND POLICIES AS WELL AS ANY FINANCIAL STATEMENTS THAT HAVE BEEN PREPARED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01057823
IRS990/TotalAssetsEOYAmt01042092
IRS990/TotalAssetsGrp/BOYAmt01057823
IRS990/TotalAssetsGrp/EOYAmt01042092
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030394
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt030394
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0350000
IRS990/TotalLiabilitiesEOYAmt0350000
IRS990/TotalLiabilitiesGrp/BOYAmt0350000
IRS990/TotalLiabilitiesGrp/EOYAmt0350000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0707823
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0692092
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt014663
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014663
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01057823
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01042092
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0119 EAST COURT STREET STE 21
IRS990/USAddress/CityNm0PRESTONSBURG
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd041653
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BURL W SPURLOCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06068862321
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRESTONSBURG ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0PRES
ReturnHeader/Filer/EIN0611326954
ReturnHeader/Filer/PhoneNum06068866946
ReturnHeader/Filer/USAddress/AddressLine1Txt0119 EAST COURT STREET NO STE 2A
ReturnHeader/Filer/USAddress/CityNm0PRESTONSBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd041653
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A5A5E5EEFDC5FA1BD81C3C82C6EB41B1C31EB283
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A5A5E5EEFDC5FA1BD81C3C82C6EB41B1C31EB283
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0162.155.168.4
ReturnHeader/FilingSecurityInformation/IPDt02020-04-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:34:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611223180
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRIFFITH DELANEY HILLMAN & LETT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1360
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0411051360
ReturnHeader/PreparerPersonGrp/PhoneNum06063291656
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY NEAL HILLMAN
ReturnHeader/ReturnTs02020-04-23T12:26:00-05:00
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
$1,042,092
Liabilities
$350,000
Net assets
$692,092
Revenue
$14,663
Expenses
$30,394
Net income
-$15,731
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$0.03$0.04$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$0.02$0.02$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.34$0.66$0.02$0.04$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.34$0.68$0.02$0.03$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.35$0.69$0.02$0.03$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.35$0.70$0.02$0.02$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.04$0.35$0.69$0.01$0.03$0.02
2018Summary only. Only limited summary data is available for this year.$1.06$0.35$0.71$0.01$0.03$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.35$0.72$0.01$0.03$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.09$0.35$0.74$0.01$0.04$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.35$0.76$0.02$0.02$0.00
2014Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.01$0.00
2013Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.01$0.00
2012Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.02$0.00
2011Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.03$0.04$0.07