Prestonsburg Economic Development Foundation

Organization Overview

Prestonsburg Economic Development Foundation is located in Prestonsburg, KY. The organization was established in 1998. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prestonsburg Economic Development Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2022, Prestonsburg Economic Development Foundation generated $17.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $26.1k during the year ending 12/2022. While expenses have increased by 4.6% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

INDUSTRIAL DEVELOPMENT TO IMPROVE COMMUNITY

Describe the Organization's Program Activity:

Part 3 - Line 4a

LAND DEVELOPMENT COSTS OF $0.00 WERE CAPITALIZED THIS YEAR TO IMPROVE THE INDUSTRIAL SITE


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Board, Officers & Key Employees

Name (title)Compensation
Thomas Nairn
Chairman/president
$0
Robert R Allen II
Secretary/treasurer
$0
Edward R Nairn
Director
$0
David Ellis
Director
$0
Beau Spurlock
Director
$0
Lloyd Stapleton
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $29
Tax Exempt Bond Proceeds $0
Royalties $15,693
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,297

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