The Center For Kentucky Rural Economic Development Inc

Organization Overview

The Center For Kentucky Rural Economic Development Inc is located in Somerset, KY. The organization was established in 1996. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Center For Kentucky Rural Economic Development Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Kentucky Rural Economic Development Inc 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 06/2022, Center For Kentucky Rural Economic Development Inc generated $7.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $6.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ECONOMIC DEVELOPMENT TO SOUTHEASTERN KENTUCKY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CENTER FACILITATES REGIONAL AND NATIONAL RURAL DEVELOPMENT IN PUBLIC SAFETY, ARTS AND CULTURE, LEADERSHIP, AND TECHNOLOGY.


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Board, Officers & Key Employees

Name (title)Compensation
Lonnie Lawson
Pres. CEO
$164,275
Richard Taylor
Executive VP
$147,115
Robert M Duncan
Chairman
$0
Jerry A Rickett
Secretary
$0
Jean M Dorton
Vice Chair
$0
Steve Merrick
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $5,248,607
All other contributions, gifts, grants, and similar amounts not included above$87,918
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,336,525
Total Program Service Revenue$837,638
Investment income $5,627
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $119,792
Net Gain/Loss on Asset Sales $63,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,680,890

Grants Recieved

Over the last fiscal year, we have identified 1 grants that The Center For Kentucky Rural Economic Development Inc has recieved totaling $13.

Awarding OrganizationAmount
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$13
View Grant Recipient Profile

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