Civic Intelligence

Shelby County Industrial and Development

990 • Fiscal year 2023 • EIN 61-6035011

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 17, 2024

Organization ProfileWWW.SHELBYCOUNTYINDUSTRIALFOUNDATION.COM
316 Main StShelbyville, KY 40065

(502) 633-5068

Siviq Scores

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

Liabilities / Assets

77th percentile

0.39x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

2.00x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

56th percentile

5.9%

Higher net margin than 56% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

33rd percentile

$77,688

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

23rd percentile

-3.2%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

16%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$4,692,480

Down $154,494 (-3.2%) from 2022

Net Assets

Down

$2,859,837

Down $25,006 (-0.9%) from 2022

Liabilities

Down

$1,832,643

Down $129,488 (-6.6%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin56th percentile

Revenue

Up

$916,276

Up $125,900 (+16%) from 2022

Expenses

Down

$861,960

Down $63,845 (-6.9%) from 2022

Net Income

Up

$54,316

Up $189,745 (+140%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $5,195,569Liabilities 2011: $1,431,876Net Assets 2011: $3,763,6932011Assets 2012: $5,155,641Liabilities 2012: $1,433,214Net Assets 2012: $3,722,4272012Assets 2013: $5,281,370Liabilities 2013: $1,587,307Net Assets 2013: $3,694,0632013Assets 2014: $4,644,073Liabilities 2014: $1,565,213Net Assets 2014: $3,078,8602014Assets 2015: $3,489,920Liabilities 2015: $478,062Net Assets 2015: $3,011,8582015Assets 2016: $4,318,180Liabilities 2016: $397,847Net Assets 2016: $3,920,3332016Assets 2017: $4,223,846Liabilities 2017: $392,887Net Assets 2017: $3,830,9592017Assets 2018: $4,037,989Liabilities 2018: $411,985Net Assets 2018: $3,626,0042018Assets 2019: $3,887,026Liabilities 2019: $433,385Net Assets 2019: $3,453,6412019Assets 2020: $3,807,332Liabilities 2020: $581,583Net Assets 2020: $3,225,7492020Assets 2021: $4,723,839Liabilities 2021: $1,629,004Net Assets 2021: $3,094,8352021Assets 2022: $4,846,974Liabilities 2022: $1,962,131Net Assets 2022: $2,884,8432022Assets 2023: $4,692,480Liabilities 2023: $1,832,643Net Assets 2023: $2,859,8372023Assets 2024: $4,955,546Liabilities 2024: $2,051,859Net Assets 2024: $2,903,6872024

Highlighted filing

2023

Assets$4,692,480
Liabilities$1,832,643
Net Assets$2,859,837
Open 2023 Filing

Operations Trend

Revenue Growth67th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $700,1112011Expenses 2012: $719,7832012Expenses 2013: $677,5952013Revenue 2014: $97,283Expenses 2014: $712,486Net Income 2014: -$615,2032014Revenue 2015: $902,955Expenses 2015: $969,957Net Income 2015: -$67,0022015Revenue 2016: $1,616,168Expenses 2016: $707,693Net Income 2016: $908,4752016Revenue 2017: $500,092Expenses 2017: $589,466Net Income 2017: -$89,3742017Revenue 2018: $423,054Expenses 2018: $628,009Net Income 2018: -$204,9552018Revenue 2019: $459,466Expenses 2019: $631,829Net Income 2019: -$172,3632019Revenue 2020: $459,203Expenses 2020: $687,095Net Income 2020: -$227,8922020Revenue 2021: $543,985Expenses 2021: $674,899Net Income 2021: -$130,9142021Revenue 2022: $790,376Expenses 2022: $925,805Net Income 2022: -$135,4292022Revenue 2023: $916,276Expenses 2023: $861,960Net Income 2023: $54,3162023Revenue 2024: $842,115Expenses 2024: $798,537Net Income 2024: $43,5782024

Highlighted filing

2023

Revenue$916,276
Expenses$861,960
Net Income$54,316
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 17, 2024
Return Version
2023v5.1
Gross Receipts
$1,001,300
Mission and Program Overview

Mission

To promote industrial and commercial development in shelby county, kentucky.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,377,342$2,222,200▼ $155,142
Savings and Temporary Cash Investments$153,758$1,371,619▲ $1,217,861
Cash and Non-Interest-Bearing Accounts$960,030--
Land, Buildings, and Equipment, Net$597,477$550,520▼ $46,957
Investments in Publicly Traded Securities$432,546$464,938▲ $32,392
Accounts Receivable$157,499$38,358▼ $119,141
Inventories for Sale or Use$16,286$24,687▲ $8,401
Prepaid Expenses and Deferred Charges$15,783$20,158▲ $4,375
Total Assets$4,710,721$4,692,480▼ $18,241
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,024,985$977,032▼ $47,953
Other Liabilities$773,604$773,604→ $0
Accounts Payable and Accrued Expenses$81,185$45,194▼ $35,991
Deferred Revenue$28,593$36,813▲ $8,220
Total Liabilities$1,908,367$1,832,643▼ $75,724
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,802,354$2,859,837▲ $57,483
Total Net Assets Fund Balance$2,802,354$2,859,837▲ $57,483
Total Liabilities and Net Assets / Fund Balance$4,710,721$4,692,480▼ $18,241

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$418,036$556,065$974,101
Equipment$78,460$108,480$186,940
Land$37,376-$37,376
Leasehold Improvements$16,648$3,065$19,713
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ray LeathersPresident/CEOFT$77,688$77,688

Board Members and Trustees

NameTitle
Pat HargadonChairman
Steve MeadorVice-chairman
Aaron GarofolaDirector
Ashley CoulterDirector
Bobby G HudsonDirector
Brian WebbDirector
Dan IsonDirector
Derrick ThompsonDirector
Doug LangleyDirector
Dr Sally SuggDirector
Jerry KaremDirector
Ronald SowderDirector
Roxann FryDirector
Steve CollinsDirector
Tom HardestyDirector
Troy EthingtonDirector
Wayne KaremDirector
Jack BraggTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$246,593
Program Service Revenue
$427,954
Investment Income
$196,244
Other Revenue
$45,485
Change in Net Assets
$54,316

Audited Revenue Reconciliation

Revenue per Audited Statements
$916,276
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$88,191
Total Revenue per Audited Statements
$1,004,467
Total Revenue per Form 990
$916,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$471,463
Salaries, Compensation, and Employee Benefits$390,497
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$280,806
Occupancy---$88,211
Current Officers, Directors, Trustees, and Key Employees---$77,688
Depreciation Depletion---$65,518
Fees for Services Accounting---$53,891
Interest---$34,775
Payroll Taxes---$32,003
Insurance---$28,917
Office Expenses---$12,437
Advertising---$6,812
All Other Expenses---$5,854
Other Expenses---$5,809
Fees for Services Legal---$4,980
Conferences and Meetings---$4,629
Travel---$921
Total Functional Expenses$0$0$0$861,960

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$946,984
Expenses per Audited Statements$861,960
Total Expenses per Form 990$861,960
Expenses Not Reported on Form 990$85,024
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Gain$773,604
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
Yes
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

Form 990, Part VI, Section A, Line 2

“Board members jerry karem and wayne karem have a family relationship, as they are cousins.”

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

“President and board members review the form 990 before filing.”

Form 990, Part VI, Section B, Line 12C

“All directors sign a conflict of interest form. If there is ever a conflict with items being contemplated or projects discussed any director with a conflict abstains from any vote and it is recorded in the minutes.”

Form 990, Part VI, Section B, Line 15A

“Vote by non-compensated officers and directors.”

Form 990, Part VI, Section C, Line 19

“Documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Shelby County Industrial and Development
EIN
61-6035011
Phone
5026335068
Address
316 MAIN ST, SHELBYVILLE, KY 40065

Signing Officer

Name
Ray Leathers
Title
CEO
Phone
5026335068
Signed
2024-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Leathers
Formed
1957
Legal Domicile
Ky
Voting Board Members
16
Independent Board Members
15
Employees
19
Volunteers
20

Preparer

Firm
Deming Malone Livesay & Ostroff Psc
Address
9300 SHELBYVILLE ROAD SUITE 1100, LOUISVILLE, KY 40222-5187
Preparer
Sarah K Antle
Phone
5024269660
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The audit committee assumes respnsibility for oversight.”

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from federal, state and local income taxes as a nonprofit corporation as described under internal revenue code section 501(c)(6). The organization files an information tax return in the u.s. Federal jurisdiction and with the kentucky office of the attorney general. However, income from certain activities not directly related to the organization's tax-exempt purposes may be subject to taxation as unrelated business income. Management does not believe that the organization has unrelated business income for the year ended december 31, 2023. As of december 31, 2023, the organization did not have any accrued interest or penalties related to income tax liabilities, and no interest or penalties have been charged to operations for the year then ended.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Cost of goods sold of inventory 85,024.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Cost of goods sold of inventory 85,024.”

Raw XML AppendixShowing 400 of 473 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/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01957
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt016
IRS990/GovernmentGrantsAmt0246593
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01001300
IRS990/GrossRentsGrp/RealAmt016200
IRS990/GrossSalesOfInventoryAmt0112258
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt015
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/TotalAmt028917
IRS990/InterestGrp/TotalAmt034775
IRS990/InventoriesForSaleOrUseGrp/BOYAmt016286
IRS990/InventoriesForSaleOrUseGrp/EOYAmt024687
IRS990/InvestmentIncomeGrp/ExclusionAmt0196244
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0196244
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0432546
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0464938
IRS990/IRPDocumentCnt011
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0667610
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0597477
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0550520
IRS990/LandBldgEquipCostOrOtherBssAmt01218130
IRS990/LegalDomicileStateCd0KY
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE INDUSTRIAL AND COMMERCIAL DEVELOPMENT IN SHELBY COUNTY, KENTUCKY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01024985
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0977032
IRS990/NetAssetsOrFundBalancesBOYAmt02802354
IRS990/NetAssetsOrFundBalancesEOYAmt02859837
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt027234
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt027234
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt016200
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt016200
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt03167
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02802354
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02859837
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt088211
IRS990/OfficeExpensesGrp/TotalAmt012437
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0BAD DEBT
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2TAXES AND LICENSES
IRS990/OtherExpensesGrp/Desc3RECRUITING
IRS990/OtherExpensesGrp/TotalAmt0129056
IRS990/OtherExpensesGrp/TotalAmt123623
IRS990/OtherExpensesGrp/TotalAmt26030
IRS990/OtherExpensesGrp/TotalAmt35809
IRS990/OtherLiabilitiesGrp/BOYAmt0773604
IRS990/OtherLiabilitiesGrp/EOYAmt0773604
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02051
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02051
IRS990/OtherRevenueTotalAmt02051
IRS990/OtherSalariesAndWagesGrp/TotalAmt0280806
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt02377342
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02222200
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt032003
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015783
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020158
IRS990/PrincipalOfficerNm0RAY LEATHERS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/Desc0MARINA
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0427954
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0427954
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt070052
IRS990/PYOtherExpensesAmt0202451
IRS990/PYOtherRevenueAmt069943
IRS990/PYProgramServiceRevenueAmt0207502
IRS990/PYRevenuesLessExpensesAmt0-77512
IRS990/PYSalariesCompEmpBnftPaidAmt0222558
IRS990/PYTotalExpensesAmt0425009
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0347497
IRS990/ReconcilationRevenueExpnssAmt054316
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt016200
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0153758
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01371619
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0418036
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0556065
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0974101
IRS990ScheduleD/EquipmentGrp/BookValueAmt078460
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0108480
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0186940
IRS990ScheduleD/ExpensesNotReportedAmt085024
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0861960
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt037376
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt037376
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt016648
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03065
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt019713
IRS990ScheduleD/NetUnrealizedGainsInvstAmt03167
IRS990ScheduleD/OtherExpensesIncludedAmt085024
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0773604
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED GAIN
IRS990ScheduleD/OtherRevenueAmt085024
IRS990ScheduleD/RevenueNotReportedAmt088191
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0916276
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL, STATE AND LOCAL INCOME TAXES AS A NONPROFIT CORPORATION AS DESCRIBED UNDER INTERNAL REVENUE CODE SECTION 501(C)(6). THE ORGANIZATION FILES AN INFORMATION TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE KENTUCKY OFFICE OF THE ATTORNEY GENERAL. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSES MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. MANAGEMENT DOES NOT BELIEVE THAT THE ORGANIZATION HAS UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023. AS OF DECEMBER 31, 2023, THE ORGANIZATION DID NOT HAVE ANY ACCRUED INTEREST OR PENALTIES RELATED TO INCOME TAX LIABILITIES, AND NO INTEREST OR PENALTIES HAVE BEEN CHARGED TO OPERATIONS FOR THE YEAR THEN ENDED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD OF INVENTORY 85,024.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2COST OF GOODS SOLD OF INVENTORY 85,024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0550520
IRS990ScheduleD/TotalExpensesPerForm990Amt0861960
IRS990ScheduleD/TotalLiabilityAmt0773604
IRS990ScheduleD/TotalRevenuePerForm990Amt0916276
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01004467
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0946984
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS JERRY KAREM AND WAYNE KAREM HAVE A FAMILY RELATIONSHIP, AS THEY ARE COUSINS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESIDENT AND BOARD MEMBERS REVIEW THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DIRECTORS SIGN A CONFLICT OF INTEREST FORM. IF THERE IS EVER A CONFLICT WITH ITEMS BEING CONTEMPLATED OR PROJECTS DISCUSSED ANY DIRECTOR WITH A CONFLICT ABSTAINS FROM ANY VOTE AND IT IS RECORDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3VOTE BY NON-COMPENSATED OFFICERS AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE AUDIT COMMITTEE ASSUMES RESPNSIBILITY FOR OVERSIGHT.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,692,480
Liabilities
$1,832,643
Net assets
$2,859,837
Revenue
$916,276
Expenses
$861,960
Net income
$54,316
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.96$2.05$2.90$0.84$0.80$0.04
2023Detailed filing. Detailed filing data is available for this year.$4.69$1.83$2.86$0.92$0.86$0.05
2022Detailed filing. Detailed filing data is available for this year.$4.85$1.96$2.88$0.79$0.93$0.14
2021Detailed filing. Detailed filing data is available for this year.$4.72$1.63$3.09$0.54$0.67$0.13
2020Summary only. Only limited summary data is available for this year.$3.81$0.58$3.23$0.46$0.69$0.23
2019Summary only. Only limited summary data is available for this year.$3.89$0.43$3.45$0.46$0.63$0.17
2018Summary only. Only limited summary data is available for this year.$4.04$0.41$3.63$0.42$0.63$0.20
2017Summary only. Only limited summary data is available for this year.$4.22$0.39$3.83$0.50$0.59$0.09
2016Summary only. Only limited summary data is available for this year.$4.32$0.40$3.92$1.62$0.71$0.91
2015Summary only. Only limited summary data is available for this year.$3.49$0.48$3.01$0.90$0.97$0.07
2014Summary only. Only limited summary data is available for this year.$4.64$1.57$3.08$0.10$0.71$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$1.59$3.69$0.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.16$1.43$3.72$0.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.20$1.43$3.76$0.70