Civic Intelligence

Laurel Housing Inc DBA

EIN 61-6042733 • 501(c)3 • London, KY

Profile

Laurel housing, inc. Was developed for the purpose of providing housing and healthcare services for seniors in our community and surrounding counties.

PO Box 1800London, KY 40743

laurelhousing.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

79th percentile

0.60x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

50th percentile

0.28x

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

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

69th percentile

14%

Higher net margin than 69% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

34th percentile

$204,034

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

90th percentile

30%

Faster asset growth than 90% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

79th percentile

29%

Faster revenue growth than 79% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Assets

Up

$10,788,557

Up $619,217 (+6.1%) from 2023

Liabilities

Down

$9,525,926

Down $851,552 (-8.2%) from 2023

Net Assets

Up

$1,262,631

Up $1,470,769 (+707%) from 2023

Revenue

Up

$23,413,056

Up $2,866,691 (+14%) from 2023

Expenses

Up

$21,942,287

Up $1,461,534 (+7.1%) from 2023

Net Income

Up

$1,470,769

Up $1,405,157 (+2142%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2010: $15,427,978Liabilities 2010: $19,424,302Net Assets 2010: -$3,996,3242010Assets 2011: $14,809,397Liabilities 2011: $19,001,551Net Assets 2011: -$4,192,1542011Assets 2012: $20,612,110Liabilities 2012: $25,045,192Net Assets 2012: -$4,433,0822012Assets 2013: $18,304,970Liabilities 2013: $23,009,700Net Assets 2013: -$4,704,7302013Assets 2014: $18,089,589Liabilities 2014: $22,232,753Net Assets 2014: -$4,143,1642014Assets 2015: $14,802,536Liabilities 2015: $19,006,207Net Assets 2015: -$4,203,6712015Assets 2016: $12,387,678Liabilities 2016: $16,305,806Net Assets 2016: -$3,918,1282016Assets 2017: $11,915,702Liabilities 2017: $15,154,026Net Assets 2017: -$3,238,3242017Assets 2018: $11,714,105Liabilities 2018: $14,311,984Net Assets 2018: -$2,597,8792018Assets 2019: $11,344,898Liabilities 2019: $13,461,771Net Assets 2019: -$2,116,8732019Assets 2020: $13,130,053Liabilities 2020: $14,495,907Net Assets 2020: -$1,365,8542020Assets 2021: $12,389,193Liabilities 2021: $11,821,135Net Assets 2021: $568,0582021Assets 2022: $10,802,301Liabilities 2022: $11,076,051Net Assets 2022: -$273,7502022Assets 2023: $10,169,340Liabilities 2023: $10,377,478Net Assets 2023: -$208,1382023Assets 2024: $10,788,557Liabilities 2024: $9,525,926Net Assets 2024: $1,262,6312024

Highlighted filing

2024

Assets$10,788,557
Liabilities$9,525,926
Net Assets$1,262,631

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $14,985,9262010Expenses 2011: $14,749,7072011Expenses 2012: $14,751,8202012Revenue 2013: $14,888,406Expenses 2013: $15,160,054Net Income 2013: -$271,6482013Revenue 2014: $15,950,344Expenses 2014: $15,388,778Net Income 2014: $561,5662014Revenue 2015: $16,063,567Expenses 2015: $16,124,074Net Income 2015: -$60,5072015Revenue 2016: $16,109,452Expenses 2016: $15,823,909Net Income 2016: $285,5432016Revenue 2017: $16,255,952Expenses 2017: $15,576,148Net Income 2017: $679,8042017Revenue 2018: $16,524,669Expenses 2018: $15,884,224Net Income 2018: $640,4452018Revenue 2019: $16,812,973Expenses 2019: $16,331,967Net Income 2019: $481,0062019Revenue 2020: $17,555,613Expenses 2020: $16,804,594Net Income 2020: $751,0192020Revenue 2021: $18,787,244Expenses 2021: $16,853,332Net Income 2021: $1,933,9122021Revenue 2022: $18,495,610Expenses 2022: $19,337,418Net Income 2022: -$841,8082022Revenue 2023: $20,546,365Expenses 2023: $20,480,753Net Income 2023: $65,6122023Revenue 2024: $23,413,056Expenses 2024: $21,942,287Net Income 2024: $1,470,7692024

Highlighted filing

2024

Revenue$23,413,056
Expenses$21,942,287
Net Income$1,470,769

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$9.53$1.26$23.4$21.9$1.47
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$10.4$0.21$20.5$20.5$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$11.1$0.27$18.5$19.3$0.84
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$11.8$0.57$18.8$16.9$1.93
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.1$14.5$1.37$17.6$16.8$0.75
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.3$13.5$2.12$16.8$16.3$0.48
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.7$14.3$2.60$16.5$15.9$0.64
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$15.2$3.24$16.3$15.6$0.68
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$16.3$3.92$16.1$15.8$0.29
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$19.0$4.20$16.1$16.1$0.06
2014Detailed filing. Detailed filing data is available for this year.$18.1$22.2$4.14$16.0$15.4$0.56
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.3$23.0$4.70$14.9$15.2$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.6$25.0$4.43$14.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$19.0$4.19$14.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.4$19.4$4.00$15.0
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 2, 2023
Return Version
2022v5.0
Gross Receipts
$18,495,610
Mission and Program Overview

Mission

Laurel housing, inc. Was developed for the purpose of providing housing and healthcare services for seniors in our community and surrounding counties.

The exempt purpose of the organization is to provide housing and healthcare services for seniors in our community and surrounding counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,043,518$7,529,871▼ $513,647
Accounts Receivable$1,376,227$1,758,833▲ $382,606
Cash and Non-Interest-Bearing Accounts$2,723,415$1,218,056▼ $1,505,359
Inventories for Sale or Use$133,354$132,432▼ $922
Prepaid Expenses and Deferred Charges$107,007$101,508▼ $5,499
Loans From Officers Directors$50,000$50,000→ $0
Savings and Temporary Cash Investments$5,672$3,160▼ $2,512
Total Assets$12,389,193$10,802,301▼ $1,586,892
Other Assets Total$0$58,441▲ $58,441
Liabilities
Tax Exempt Bond Liabilities$9,845,322$8,820,336▼ $1,024,986
Accounts Payable and Accrued Expenses$1,648,319$1,824,389▲ $176,070
Unsecured Notes Loans Payable$200,000$200,000→ $0
Deferred Revenue$121,980$104,000▼ $17,980
Other Liabilities$-44,486$77,326▲ $121,812
Total Liabilities$11,821,135$11,076,051▼ $745,084
Net Assets / Fund Balance
Net Assets With Donor Restrictions$27,050$18,508▼ $8,542
Net Assets Without Donor Restrictions$541,008$-292,258▼ $833,266
Total Net Assets Fund Balance$568,058$-273,750▼ $841,808
Total Liabilities and Net Assets / Fund Balance$12,389,193$10,802,301▼ $1,586,892

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,628,028$10,221,913$16,849,941
Equipment$471,721$3,340,863$3,812,584
Land$430,122-$430,122
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathey YoungCEOFT$163,684$4,671$168,355
Leandra DavisRnFT$144,702$4,659$149,361
Kimberly CroleyPharmacistFT$139,886$4,664$144,550
Sonya GregoryRai - RnFT$140,434$3$140,437
Kyle HarrisPharmacistFT$135,459$4,664$140,123
Jonathan MillerAssistant AdministratorFT$129,418$4,664$134,082

Board Members and Trustees

NameTitle
Elmer Cunnagin JrPresident
Tom HouchensVice President
Carrie Ann MccowanDirector
David WesterfieldDirector
George Robert KingDirector
Lawrence KuhlDirector
Sharon GarlandDirector
Steve HowardDirector
Roy BowlingSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$14,274
Program Service Revenue
$18,368,970
Investment Income
$7,062
Other Revenue
$105,304
All Other Contributions
$14,274
Change in Net Assets
$-841,808

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,495,610
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$18,495,610
Total Revenue per Form 990
$18,495,610
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,144,580
Other Expenses$6,192,838
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,443,939$959,464-$11,403,403
Payroll Taxes$787,389$84,676-$872,065
Occupancy$734,072$14,982-$749,054
Other Employee Benefits$636,932$63,825-$700,757
Depreciation Depletion$646,189$13,517-$659,706
All Other Expenses$480,742$116,170-$596,912
Insurance$409,021$8,347-$417,368
Other Expenses$342,407$18,167-$360,574
Office Expenses$96,104$149,864-$245,968
Current Officers, Directors, Trustees, and Key Employees-$168,355-$168,355
Fees for Services Accounting-$61,500-$61,500
Travel$14,527$13,944-$28,471
Conferences and Meetings$22,554$1,250-$23,804
Advertising-$23,447-$23,447
Fees for Services Legal-$900-$900
Total Functional Expenses$17,639,010$1,698,408$0$19,337,418

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,337,418
Total Expenses per Audited Statements$19,337,418
Total Expenses per Form 990$19,337,418
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Blair Young GaskinThe Interested Person Is Related to an Officer of the OrganizationThe Interested Person Is an Employee of the Organization.No$86,329
April DavidsonThe Interested Person Is Related to an Officer of the OrganizationThe Interested Person Is an Employee of the Organization.No$69,792
Jan HouchensThe Interested Person Is Related to an Officer of the OrganizationThe Interested Person Is an Employee of the Organization.No$59,829
Wesley DavidsonThe Interested Person Is Related to an Officer of the OrganizationThe Interested Person Is an Employee of the Organization.No$54,566
Travis GaskinThe Interested Person Is Related to an Officer of the OrganizationThe Interested Person Is an Employee of the Organization.No$27,288

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$50,000$50,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$166,874
Operating Lease Liability$58,441
Bond Issuance Costs$-147,989

Bond Issues

BondIssuerIssuedIssue PricePurpose
ALaurel County Government2013-04-03$4,914,187Refinancing of 2004 and 2006 bonds
CLaurel County Government2021-12-09$3,986,624Refinancing of 2012a bonds
BLaurel County Government2019-09-26$2,840,080Refinancing of 2010 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,910,000$4,910,000$1,415,000$94,008
C$3,986,624$3,986,624$448,546$44,932
B$2,840,080$2,840,080$1,052,822$40,201

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
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
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Roy bowling, board member is the father of carrie mccowan, board member.

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

The ceo and controller will review the form 990 in detail. The board will meet to review the form 990 before it is filed.

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

Annual statement signed by each director affirming that 1) director has received a copy of the conflict of interest policy; 2) director has read and understands the policy;3)agrees to comply with the policy and 4) understands that the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Section B, Line 15

1. The compensation of the person is reviewed and approved by the board of directors of the organization provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in the review and approval. 2. The compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 3. There is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.

Form 990, Part VI, Section C, Line 19

All information is available for viewing upon request.

Filing and Contact Details

Filer

Filer Name
Laurel Housing Inc Dba
EIN
61-6042733
Phone
6068644155
Address
PO BOX 1800, LONDON, KY 40743

Signing Officer

Name
Kathey Young
Title
CEO
Phone
6068644155
Signed
2023-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathey Young
Formed
1962
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
9
Employees
361
Volunteers
30

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 board of directors are involved with the decision of selecting the independent auditors. The board of directors also meets with the auditors after the audit has been completed to review the audit in detail and approve the audit.

Financial Statement Notes

PART X, LINE 2:

Laurel housing, inc. Is exempt from federal, state and local income taxes as a not-for-profit corporation as described under internal revenue code section 501(c)(3). Laurel housing, inc. Files an informational 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 laurel housing, inc.'s tax-exempt purpose may be subject to taxation as unrelated business income. Management does not believe that laurel housing, inc. Has unrelated business income for the years ended december 31, 2022 and 2021. As of december 31, 2022 and 2021, 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 years then ended.

Raw XML AppendixShowing 400 of 760 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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