Civic Intelligence

Tri-County Economic Development Charitable Corporation

990 • Fiscal year 2023 • EIN 83-2547630

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 09, 2024

Organization ProfileN/A
300 Buttermilk Pike 332Ft Mitchell, KY 41017

(859) 344-0040

Siviq Scores

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

Liabilities / Assets

45th percentile

0.05x

Higher debt load relative to assets than 45% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

91st percentile

52%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

96th percentile

$338,690

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 28.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

85th percentile

35%

Faster asset growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

7th percentile

-45%

Faster revenue growth than 7% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$2,926,916

Up $751,444 (+35%) from 2022

Net Assets

Up

$2,793,724

Up $618,252 (+28%) from 2022

Liabilities

Up

$133,192

Up $133,192 from 2022

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin91st percentile

Revenue

Down

$1,176,302

Down $979,459 (-45%) from 2022

Expenses

Up

$564,965

Up $564,950 (+3766333%) from 2022

Net Income

Down

$611,337

Down $1,544,409 (-72%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$3.0M$2.0M$1.0M$0Assets 2019: $1Liabilities 2019: $02019Assets 2020: $9,726Liabilities 2020: $0Net Assets 2020: $9,7262020Assets 2022: $2,175,472Liabilities 2022: $0Net Assets 2022: $2,175,4722022Assets 2023: $2,926,916Liabilities 2023: $133,192Net Assets 2023: $2,793,7242023Assets 2024: $2,414,363Liabilities 2024: $182,421Net Assets 2024: $2,231,9422024Assets 2025: $1,667,929Liabilities 2025: $400,201Net Assets 2025: $1,267,7282025

Highlighted filing

2023

Assets$2,926,916
Liabilities$133,192
Net Assets$2,793,724
Open 2023 Filing

Operations Trend

Revenue Growth7th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $57,000Expenses 2020: $47,274Net Income 2020: $9,7262020Revenue 2022: $2,155,761Expenses 2022: $15Net Income 2022: $2,155,7462022Revenue 2023: $1,176,302Expenses 2023: $564,965Net Income 2023: $611,3372023Revenue 2024: $254,784Expenses 2024: $814,363Net Income 2024: -$559,5792024Revenue 2025: $168,061Expenses 2025: $1,127,562Net Income 2025: -$959,5012025

Highlighted filing

2023

Revenue$1,176,302
Expenses$564,965
Net Income$611,337
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 9, 2024
Return Version
2022v5.0
Gross Receipts
$1,176,302
Mission and Program Overview

Mission

The misison of the tri-county economic development charitable corporation is to provide private-sector leadership and resources to the tri-county economic development corporation (tri-ed) in marketing and promoting the three northern kentucky counties on a national and international basis, as a location for new or expanding (1) manufacturing projects (2) office projects, (3) warehouse/distribution projects, and (4) large commercial and service projects.

To provide private-sector leadership and resources to the tri-county economic development corporation (tri-ed)

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,578,166$1,843,084▲ $264,918
Cash and Non-Interest-Bearing Accounts$597,306$1,083,832▲ $486,526
Total Assets$2,175,472$2,926,916▲ $751,444
Liabilities
Accounts Payable and Accrued Expenses-$133,192-
Total Liabilities$0$133,192▲ $133,192
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,155,735$2,762,785▲ $607,050
Net Assets Without Donor Restrictions$19,737$30,939▲ $11,202
Total Net Assets Fund Balance$2,175,472$2,793,724▲ $618,252
Total Liabilities and Net Assets / Fund Balance$2,175,472$2,926,916▲ $751,444
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Cheryl BeslEmployeePT$126,239$126,239

Board Members and Trustees

NameTitle
Carey SandersChair
Tom BantaImmediate Past Chair
Lee CrumePresident
Jim DressmanVice Chair
Gary MooreDirector
Kris KnochelmannDirector
Normand DesmaraisDirector
Steve PenderyDirector
Christine RussellEmployee
Ben BrandstetterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,160,001
Program Service Revenue
$0
Investment Income
$16,301
Other Revenue
$0
All Other Contributions
$1,160,001
Change in Net Assets
$611,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$428,596
Other Expenses$136,369
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$209,092--$209,092
Other Salaries and Wages$152,282--$152,282
Fees for Services Other$40,000--$40,000
Other Employee Benefits$30,951--$30,951
Payroll Taxes$24,537--$24,537
Advertising$19,362--$19,362
Conferences and Meetings$18,428--$18,428
Pension Plan Contributions$11,734--$11,734
Other Expenses$600$12,000-$600
Travel$6--$6
Total Functional Expenses$552,950$12,015$0$564,965
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“"no" has been checked because the question is not applicable to the organization. The committees do not have the power to act for the board unless expressly provided.”

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

“A copy of the 990 is provided to the organization's executive committee, finance committee, and board for review and any appropriate suggseted changes are made.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, ethics, or conflicts of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Tri-county Economic Development
EIN
83-2547630
Phone
8593440040
Address
300 BUTTERMILK PIKE 332, FT MITCHELL, KY 41017

Signing Officer

Name
Lee Crume
Title
President
Phone
8593440040
Signed
2024-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Crume
Formed
2018
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Rudler Psc
Address
SUITE 200 809 WRIGHTS SUMMIT, PARKWAY, FORT WRIGHT, KY 41011
Preparer
David W Neuhaus CPA
Phone
8593311717
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt010000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt057000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01372083
IRS990ScheduleA/TotalSupportAmt01388396
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt060471
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt113400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0258435
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1157500
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt16300
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt12349
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHRISTINE RUSSELL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1EMPLOYEE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1179549
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0"NO" HAS BEEN CHECKED BECAUSE THE QUESTION IS NOT APPLICABLE TO THE ORGANIZATION. THE COMMITTEES DO NOT HAVE THE POWER TO ACT FOR THE BOARD UNLESS EXPRESSLY PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS PROVIDED TO THE ORGANIZATION'S EXECUTIVE COMMITTEE, FINANCE COMMITTEE, AND BOARD FOR REVIEW AND ANY APPROPRIATE SUGGSETED CHANGES ARE MADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, ETHICS, OR CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0300 BUTTERMILK PIKE SUITE 332
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd041017
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt10
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt212183
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt3361374
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1M
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3O
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IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt02926916
IRS990/TotalAssetsGrp/BOYAmt02175472
IRS990/TotalAssetsGrp/EOYAmt02926916
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01160001
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012015
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0552950
IRS990/TotalFunctionalExpensesGrp/TotalAmt0564965
IRS990/TotalGrossUBIAmt00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,926,916
Liabilities
$133,192
Net assets
$2,793,724
Revenue
$1,176,302
Expenses
$564,965
Net income
$611,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.67$0.40$1.27$0.17$1.13$0.96
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.18$2.23$0.25$0.81$0.56
2023Detailed filing. Detailed filing data is available for this year.$2.93$0.13$2.79$1.18$0.56$0.61
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.18$0.00$2.18$2.16$0.00$2.16
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.06$0.05$0.01
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00