Kentucky Educational Development Corporation
- Assets
- $6.1m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 99
- Location
- Ashland, KY
- Founding
- 04/1969
- Data as of
- 06/2021
- EIN
- 61-0659010
Organization Overview
Kentucky Educational Development Corporation is located in Ashland, KY. The organization was established in 1969. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2021, Kentucky Educational Development Corporation employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Educational Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Kentucky Educational Development Corporation generated $11.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $10.1m during the year ending 06/2021. While expenses have increased by 1.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING GRANT AND CONTRACT WRITING, TECHNOLOGY SUPPORT, PAYROLL AND PROFESSIONAL DEVELOPMENT SERVICES FOR MEMBER SCHOOL DISTRICTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
KEDC ADMINISTRATED ADULT BASIC EDUCATION IN KY COUNTIES, PROVIDED
KEDC ADMINISTRATED ADULT BASIC EDUCATION IN KY COUNTIES, PROVIDED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Adkins Cdo | Officer | 40 | $119,129 |
David Trimble Board Member | OfficerTrustee | 2 | $0 |
Rick Ross Board Member | Trustee | 2 | $0 |
Sarah Wasson Board Member | Trustee | 2 | $0 |
David Gilliam Board Member | Trustee | 2 | $0 |
H Tackett Board Memebr | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $217,641 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,215,993 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,516 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,491,150 |
| Total Program Service Revenue | $6,802,654 |
| Investment income | $6,021 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,029 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,298,796 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $290,692 |
| Compensation of current officers, directors, key employees. | $290,692 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,783,783 |
| Pension plan accruals and contributions | $547,915 |
| Other employee benefits | $204,630 |
| Payroll taxes | $121,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $170,761 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,459 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,856 |
| Travel | $181,163 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,036 |
| Interest | $15,050 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $159,762 |
| Insurance | $85,290 |
| All other expenses | $2,894,751 |
| Total functional expenses | $10,141,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,691,252 |
| Pledges and grants receivable | $489,138 |
| Accounts receivable, net | $317,961 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,292,726 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $279,750 |
| Total assets | $6,070,827 |
| Accounts payable and accrued expenses | $228,577 |
| Grants payable | $0 |
| Deferred revenue | $722,863 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $320,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $391,803 |
| Total liabilities | $1,663,743 |
| Net assets without donor restrictions | $4,407,084 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,070,827 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Kentucky Educational Development Corporation has recieved totaling $42,000.
| Awarding Organization | Amount |
|---|---|
Heart Of Kentucky United Way Danville, KY PURPOSE: EDUCATION | $22,000 |
Whas Crusade For Children Inc Louisville, KY PURPOSE: $8,000 FOR EARLY LITERACY SKILLS BUILDER, EARLY READING SKILLS BUILDER, TEACHING TO STANDARDS: ENGLISH LANGUAGE ARTS | $8,000 |
United Way Of Northeast Kentucky Ashland, KY PURPOSE: ADULT EDUCATION | $6,000 |
United Way Of Northeast Kentucky Ashland, KY PURPOSE: ADULT EDUCATION | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Voluntary Interdistrict Choice Corporation Saint Louis, MO | $12,736,595 | $40,180,054 |
Campus Development Foundation Inc Chattanooga, TN | $70,898,605 | $12,373,348 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
Battelle For Kids Hilliard, OH | $8,986,527 | $5,810,919 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
Van Wert County Foundation Van Wert, OH | $84,063,134 | $5,243,606 |