Civic Intelligence

Lexington Home Ownership Comm II

EIN 76-0722550 • 501(c)3 • Lexington, KY

Profile

Provide home ownership opportunities to low to moderate income families

300 New Circle Road NWLexington, KY 40505

n/A

Siviq Scores

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

Liabilities / Assets

30th percentile

0.03x

Higher debt load relative to assets than 30% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.55x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

8th percentile

-38%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

88th percentile

$300,852

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 57.2% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

27th percentile

-2.4%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

74th percentile

27%

Faster revenue growth than 74% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$9,441,585

Down $230,584 (-2.4%) from 2023

Liabilities

Down

$290,008

Down $33,150 (-10%) from 2023

Net Assets

Down

$9,151,577

Down $197,434 (-2.1%) from 2023

Revenue

Up

$525,846

Up $110,570 (+27%) from 2023

Expenses

Up

$723,280

Up $141,806 (+24%) from 2023

Net Income

Down

-$197,434

Down $31,236 (-19%) from 2023

Trend Graphs

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $15,148,648Liabilities 2011: $541,592Net Assets 2011: $14,607,0562011Assets 2012: $14,892,140Liabilities 2012: $759,550Net Assets 2012: $14,132,5902012Assets 2013: $11,612,862Liabilities 2013: $611,224Net Assets 2013: $11,001,6382013Assets 2014: $10,267,270Liabilities 2014: $550,492Net Assets 2014: $9,716,7782014Assets 2015: $8,570,025Liabilities 2015: $591,794Net Assets 2015: $7,978,2312015Assets 2016: $8,179,284Liabilities 2016: $580,641Net Assets 2016: $7,598,6432016Assets 2017: $8,112,953Liabilities 2017: $396,220Net Assets 2017: $7,716,7332017Assets 2018: $11,619,645Liabilities 2018: $380,916Net Assets 2018: $11,238,7292018Assets 2019: $11,674,120Liabilities 2019: $435,081Net Assets 2019: $11,239,0392019Assets 2020: $11,623,891Liabilities 2020: $337,733Net Assets 2020: $11,286,1582020Assets 2021: $11,558,626Liabilities 2021: $304,138Net Assets 2021: $11,254,4882021Assets 2022: $9,727,944Liabilities 2022: $212,735Net Assets 2022: $9,515,2092022Assets 2023: $9,672,169Liabilities 2023: $323,158Net Assets 2023: $9,349,0112023Assets 2024: $9,441,585Liabilities 2024: $290,008Net Assets 2024: $9,151,5772024

Highlighted filing

2024

Assets$9,441,585
Liabilities$290,008
Net Assets$9,151,577

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $14,915,975Expenses 2011: $308,919Net Income 2011: $14,607,0562011Expenses 2012: $249,9362012Expenses 2013: $249,9602013Revenue 2014: $206,146Expenses 2014: $1,491,006Net Income 2014: -$1,284,8602014Revenue 2015: $183,770Expenses 2015: $1,922,317Net Income 2015: -$1,738,5472015Revenue 2016: $284,310Expenses 2016: $663,900Net Income 2016: -$379,5902016Revenue 2017: $1,687,977Expenses 2017: $299,341Net Income 2017: $1,388,6362017Revenue 2018: $3,824,652Expenses 2018: $1,121,989Net Income 2018: $2,702,6632018Revenue 2019: $391,929Expenses 2019: $391,528Net Income 2019: $4012019Revenue 2020: $513,006Expenses 2020: $384,357Net Income 2020: $128,6492020Revenue 2021: $433,292Expenses 2021: $413,811Net Income 2021: $19,4812021Revenue 2022: $322,474Expenses 2022: $2,034,478Net Income 2022: -$1,712,0042022Revenue 2023: $415,276Expenses 2023: $581,474Net Income 2023: -$166,1982023Revenue 2024: $525,846Expenses 2024: $723,280Net Income 2024: -$197,4342024

Highlighted filing

2024

Revenue$525,846
Expenses$723,280
Net Income-$197,434

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.44$0.29$9.15$0.53$0.72$0.20
2023Detailed filing. Detailed filing data is available for this year.$9.67$0.32$9.35$0.42$0.58$0.17
2022Detailed filing. Detailed filing data is available for this year.$9.73$0.21$9.52$0.32$2.03$1.71
2021Detailed filing. Detailed filing data is available for this year.$11.6$0.30$11.3$0.43$0.41$0.02
2020Detailed filing. Detailed filing data is available for this year.$11.6$0.34$11.3$0.51$0.38$0.13
2019Detailed filing. Detailed filing data is available for this year.$11.7$0.44$11.2$0.39$0.39$0.00
2018Detailed filing. Detailed filing data is available for this year.$11.6$0.38$11.2$3.82$1.12$2.70
2017Detailed filing. Detailed filing data is available for this year.$8.11$0.40$7.72$1.69$0.30$1.39
2016Detailed filing. Detailed filing data is available for this year.$8.18$0.58$7.60$0.28$0.66$0.38
2015Detailed filing. Detailed filing data is available for this year.$8.57$0.59$7.98$0.18$1.92$1.74
2014Detailed filing. Detailed filing data is available for this year.$10.3$0.55$9.72$0.21$1.49$1.28
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$0.61$11.0$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.9$0.76$14.1$0.25
2011Summary only. Only limited summary data is available for this year.$15.1$0.54$14.6$14.9$0.31$14.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$525,846
Mission and Program Overview

Mission

Provide home ownership opportunities to low to moderate income families.

Provide home ownership opportunities to low to moderate income families

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,828,795$5,682,633▼ $146,162
Investments in Publicly Traded Securities$2,510,654$2,245,543▼ $265,111
Cash and Non-Interest-Bearing Accounts$538,380$756,310▲ $217,930
Other Notes and Loans Receivable, Net$779,023$720,637▼ $58,386
Accounts Receivable$8,743$10,422▲ $1,679
Prepaid Expenses and Deferred Charges$19--
Total Assets$9,672,169$9,441,585▼ $230,584
Other Assets Total$6,555$26,040▲ $19,485
Liabilities
Other Liabilities$168,816$136,092▼ $32,724
Mortgage Notes Payable Secured by Investment Property$144,936$111,861▼ $33,075
Deferred Revenue$5,329$33,757▲ $28,428
Accounts Payable and Accrued Expenses$4,077$8,298▲ $4,221
Total Liabilities$323,158$290,008▼ $33,150
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,828,795$5,570,772▼ $258,023
Net Assets Without Donor Restrictions$3,520,216$3,580,805▲ $60,589
Total Net Assets Fund Balance$9,349,011$9,151,577▼ $197,434
Total Liabilities and Net Assets / Fund Balance$9,672,169$9,441,585▼ $230,584

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,191,365$1,711,105$6,902,470
Land$491,268-$491,268
Equipment-$11,400$11,400
Compensation and Service Providers

Employees

NameTitleOtherTotal
Sean CooperSecretary/tr$192,815$192,815

Board Members and Trustees

NameTitle
Austin SimmsPresident
Anthony WrightBoard Member
Daryl SmithBoard Member
Joan WhitmanBoard Member
Ken KernsBoard Member
Sean CooperSecretary/treasurer
Shirley CookVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$349,215
Investment Income
$148,332
Other Revenue
$28,299
Change in Net Assets
$-197,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$723,280
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
Depreciation Depletion$268,437--$268,437
Fees for Services Management$151,699$16,855-$168,554
Fees for Services Legal$47,005$5,223-$52,228
Office Expenses$21,657$2,406-$24,063
Occupancy$15,188$1,688-$16,876
Insurance$11,445$1,272-$12,717
Fees for Services Accounting$5,881$654-$6,535
Other Expenses$2,826$314-$3,140
Interest$2,045$227-$2,272
Travel$1,323$147-$1,470
Advertising$131--$131
Total Functional Expenses$677,808$45,472$0$723,280
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
Due to Other Organizations$104,377
Tenant Security Deposits$31,715
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

The tax return is reviewed and approved for filing by the president of the organization

Form 990, Page 6, Part VI, Line 15A

A salary comparability was complete in fall 2024. The board of commissioners reviews and approves the entire study which includes all persons listed

Form 990, Page 6, Part VI, Line 15B

A salary comparability was complete in fall 2024. The board of commissioners reviews and approves the entire study which includes all persons listed

Form 990, Page 6, Part VI, Line 19

Annually the lexington housing authority, a related organization, has public hearings which prior to those meetings a notification is sent out in the newspaper advising the public of access to our policies. In addition financial information is disclosed on our calendar. The freedom of information act always gives access to information upon request

Filing and Contact Details

Filer

Filer Name
Lexington Home Ownership Comm Ii
EIN
76-0722550
Phone
8562815060
Address
300 NEW CIRCLE ROAD NW, LEXINGTON, KY 40505

Signing Officer

Name
Sean Cooper
Title
Secretary/treasurer
Phone
8592815060
Signed
2025-05-12

Organization Details

Principal Officer
Sean Cooper
Formed
2000
Legal Domicile
Ky
Voting Board Members
6
Independent Board Members
5
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
623 TOM BREWER ROAD, LOGANVILLE, GA 30052-4042
Preparer
Michael K Ozment CPA
Phone
7708798411
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt011400
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO OTHER ORGANIZATIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1AUSTIN SIMMS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY/TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS REVIEWED AND APPROVED FOR FILING BY THE PRESIDENT OF THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A SALARY COMPARABILITY WAS COMPLETE IN FALL 2024. THE BOARD OF COMMISSIONERS REVIEWS AND APPROVES THE ENTIRE STUDY WHICH INCLUDES ALL PERSONS LISTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A SALARY COMPARABILITY WAS COMPLETE IN FALL 2024. THE BOARD OF COMMISSIONERS REVIEWS AND APPROVES THE ENTIRE STUDY WHICH INCLUDES ALL PERSONS LISTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY THE LEXINGTON HOUSING AUTHORITY, A RELATED ORGANIZATION, HAS PUBLIC HEARINGS WHICH PRIOR TO THOSE MEETINGS A NOTIFICATION IS SENT OUT IN THE NEWSPAPER ADVISING THE PUBLIC OF ACCESS TO OUR POLICIES. IN ADDITION FINANCIAL INFORMATION IS DISCLOSED ON OUR CALENDAR. THE FREEDOM OF INFORMATION ACT ALWAYS GIVES ACCESS TO INFORMATION UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1LEXINGTON HOME OWNERSHIP COMMISSION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0300 WEST NEW CIRCLE ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1300 WEST NEW CIRCLE ROAD
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