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Nonprofiteer
← NELSON COUNTY ECONOMIC DEVELOPMENT AGENCY INC

Form 990 for tax year 2022

Filed by NELSON COUNTY ECONOMIC DEVELOPMENT AGENCY INC.

Totals

Total revenue
$531,276
Total expenses
$569,603
Contributions and grants received
$279,580
Grants paid
$0
Program service revenue
$229,677
Investment income
$102
Other revenue
$21,917
Total assets, end of year
$118,021
Total liabilities, end of year
$28,536
Net assets or fund balances, end of year
$89,485
Program services expenses (Part IX)
$202,182
Management and general expenses
$367,421
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 35.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $279,580

  • 2a · Program service revenue: MAINSTREET PROGRAM

    total $229,677 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $102 · unrelated business $0 · excluded $102

  • 6a · Gross rents

    real property $21,917

  • 6c · Rental income or loss

    real property $21,917

  • 6d · Net rental income or loss

    total $21,917 · related or exempt $21,917

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $120,706 · program services $0 · management and general $120,706 · fundraising $0

  • 7 · Other salaries and wages

    total $54,492 · program services $0 · management and general $54,492 · fundraising $0

  • 9 · Other employee benefits

    total $12,956 · program services $0 · management and general $12,956 · fundraising $0

  • 10 · Payroll taxes

    total $13,570 · program services $0 · management and general $13,570 · fundraising $0

  • 11c · Fees: accounting

    total $3,525 · program services $0 · management and general $3,525 · fundraising $0

  • 12 · Advertising and promotion

    total $13,041 · program services $0 · management and general $13,041 · fundraising $0

  • 13 · Office expenses

    total $74,775 · program services $0 · management and general $74,775 · fundraising $0

  • 14 · Information technology

    total $3,304 · program services $0 · management and general $3,304 · fundraising $0

  • 17 · Travel

    total $5,892 · program services $0 · management and general $5,892 · fundraising $0

  • 23 · Insurance

    total $7,466 · program services $0 · management and general $7,466 · fundraising $0

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $55 · program services $0 · management and general $55 · fundraising $0

  • 24b · Other expenses: EVENT EXPENSES

    total $192,822 · program services $192,822 · management and general $0 · fundraising $0

  • 24c · Other expenses: TELEPHONE

    total $9,784 · program services $0 · management and general $9,784 · fundraising $0

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $2,620 · program services $0 · management and general $2,620 · fundraising $0

  • 24e · All other expenses

    total $54,595 · program services $9,360 · management and general $45,235 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $139,869 · end of year $117,829

  • 8 · Inventories for sale or use

    beginning of year $192 · end of year $192

  • 25 · Other liabilities

    beginning of year $12,249 · end of year $28,536

  • 27 · Net assets without donor restrictions

    beginning of year $127,812 · end of year $89,485

Mission and programs · 2022

Mission

THE ORGANIZATION, IN CONJUNCTION WITH THE CITY OF BARDSTOWN AND NELSON COUNTY, KENTUCKY, WORKS TO ATTRACT AND RETAIN INDUSTRIES IN THE COMMUNITY. ALL NEW AND EXISTING INDUSTRIES ARE SERVED.

Activities or mission (Part I)

TO PROMOTE ECONOMIC DEVELOPMENT AND ATTRACT AND RETAIN INDUSTRIES.

  • EXPENSES OF THE ORGANIZATION ARE REPORTED ON PART IX PAGE 10. THE ORGANIZATION EXEPNSES ARE NECESSARY TO MAINTAIN CURRENT INDUSTRIAL BUSINESS AND CONTINUE TO ATTRACT INDUSTGRIES FOR THE ECONOMIC GROWTH AND EMPLOYMENT OF BARDSTOWN AND NELSON COUNTY.

As filed on the 2022 return.

Listed in Part VII

  • Kimberly Huston

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

  • Dean Watts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dick Heaton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chad McCoy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Ballard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Downs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill McCloskey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jimmy Higdon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202513499349300531

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