Overview
What is Kentucky Highlands Community Development Corporation?
Kentucky Highlands Community Development Corporation (KHCDC) is a nonprofit organization situated in London, Kentucky. Its primary goal is to foster the growth of local businesses, enhancing the income of the region's residents and expanding employment opportunities. Acting as a supporting organization, KHCDC also supports the affordable housing development efforts of Kentucky Highlands Investment Corporation, offering various programs such as turn-key homes, lower-income housing initiatives, mutual self-help housing projects, elderly housing solutions, and energy-efficient or community development projects. KHCDC provides financing to companies within its service area, where conventional financing sources may be unavailable, contributing to job creation and retention in a economically disadvantaged region of southeastern Kentucky.
Is Kentucky Highlands Community Development Corporation legitimate?
Kentucky Highlands Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Highlands Community Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Kentucky Highlands Community Development Corporation?
The Kentucky Highlands Community Development Corporation was established with the mission to support the tax-exempt objectives of Kentucky Highlands Investment Corporation, a Section 501(c)(4) organization. Their primary goal is to stimulate job creation and retention in a economically disadvantaged region of southeastern Kentucky, spanning over twenty-two counties. This mission is achieved by investing non-traditionally in companies that can provide these employment opportunities.
The corporation also provides financing to companies within its service area, where traditional financing sources may be unavailable. In addition to this, Kentucky Highlands Community Development Corporation promotes the development and assistance of local business enterprises that have the potential to increase the income of the area's residents and expand their employment prospects.
As a supporting organization, they also contribute to the affordable housing development efforts of Kentucky Highlands Investment Corporation. This includes providing affordable housing solutions through various programs, such as turn-key homes, lower-income housing programs, mutual self-help housing programs, elderly housing, and several energy-efficient and community development projects.
Who is the CEO of Kentucky Highlands Community Development Corporation?
Jerry Rickett is the President of Kentucky Highlands Community Development Corporation.
What is the revenue of Kentucky Highlands Community Development Corporation?
Kentucky Highlands Community Development Corporation's revenue in 2022 was $1,209,567.
Who are the executives of Kentucky Highlands Community Development Corporation and what are their salaries?
Here are 21 key members and their salaries:
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $2,450
- Other: $0
- Compensation: $0
- Related: $3,500
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $1,750
- Other: $0
- Compensation: $0
- Related: $3,150
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $3,850
- Other: $0
- Compensation: $0
- Related: $12,000
- Other: $0
- Compensation: $0
- Related: $3,500
- Other: $0
- Compensation: $0
- Related: $3,500
- Other: $0
- Compensation: $0
- Related: $472,889
- Other: $65,628
- Compensation: $0
- Related: $421,141
- Other: $67,034
- Compensation: $0
- Related: $230,130
- Other: $60,084
- Compensation: $0
- Related: $59,813
- Other: $34,976
- Compensation: $0
- Related: $184,821
- Other: $50,932
- Compensation: $0
- Related: $137,576
- Other: $38,798
- Compensation: $0
- Related: $155,923
- Other: $45,986
Where can I find the form 990 for Kentucky Highlands Community Development Corporation?
Kentucky Highlands Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Kentucky Highlands Community Development Corporation
Kentucky Highlands Community Development Corporation (KHCDC) was established with the mission to advance the tax-exempt objectives of Kentucky Highlands Investment Corporation, a section 501(c)(4) organization. Their primary goal is to stimulate job creation and retention in a economically disadvantaged area spanning over twenty-two counties in southeastern Kentucky. This mission is achieved through non-conventional financial investments in companies that can provide the necessary employment opportunities.
KHCDC plays a significant role in promoting the growth and support of local businesses within its service area, where traditional funding sources may be scarce. By offering financing options, KHCDC contributes to the development of enterprises that have the potential to enhance the income level and expand employment opportunities for the area's residents. As a supporting organization, KHCDC also lends its support to the affordable housing development efforts of Kentucky Highlands Investment Corporation. This includes providing affordable housing solutions through programs that specialize in turn-key homes, lower-income housing programs, mutual self-help housing programs, elderly housing, and various energy-efficient or community development projects.
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Impact
October, 2024
Kentucky Highlands Community Development Corporation has significantly impacted southeastern Kentucky by focusing on job creation and retention in a predominantly economically disadvantaged region. Through a strategy of non-traditional investment in local businesses, KHCDC actively facilitates the growth of enterprises that are likely to enhance residents' income and broaden their employment opportunities. This approach is essential in areas where conventional financing options are scarce, ensuring that companies can thrive and provide sustainable jobs.
In addition to economic development, KHCDC plays a crucial role in supporting affordable housing initiatives. The organization assists in the development and delivery of various housing solutions, including turn-key homes, lower-income housing programs, mutual self-help housing projects, and elderly housing. Their commitment to creating energy-efficient community development projects further underscores their holistic focus on improving the quality of life for residents in their service area.
Overall, KHCDC’s efforts contribute to the economic vitality and social well-being of the twenty-two counties they serve, fostering an environment where communities can grow and prosper.
This information is meant to be a general summary of Kentucky Highlands Community Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$98,481
- Program Service Revenue: $91,324
- Gross Receipts: $1,308,048
Assets and Liabilities:
- Total Assets: $4,648,028
- Total Liabilities: $2,962,361
- Net Assets: $1,685,667
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME FROM P
Revenue
$91,324
Organization Details
Founding Year
1994
Phone
(606) 864-5175Principal Officer
Jerry Rickett
Main Address
PO BOX 1738, LONDON, KY, 407431738
NTEE Category
Code: S31 - Community improvement
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