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← COMMUNITY VENTURES CORPORATION INC

Form 990 for tax year 2024

Filed by COMMUNITY VENTURES CORPORATION INC.

Totals

Total revenue
$11,943,588
Total expenses
$15,019,786
Contributions and grants received
$4,996,634
Grants paid
$939,708
Program service revenue
$6,444,336
Investment income
$346,927
Other revenue
$155,691
Total assets, end of year
$100,313,664
Total liabilities, end of year
$67,018,399
Net assets or fund balances, end of year
$33,295,265
Program services expenses (Part IX)
$12,432,102
Management and general expenses
$2,119,024
Fundraising expenses
$468,660
Program service expenses (Part III)
$12,432,102

Program services were 82.8% 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.

  • 1e · Government grants (contributions)

    $4,819,767

  • 1f · All other contributions, gifts and grants

    $176,867

  • 2a · Program service revenue: FEES

    total $3,735,975 · related or exempt $3,735,975

  • 2b · Program service revenue: INTEREST INCOME ON LOANS

    total $1,998,564 · related or exempt $1,998,564

  • 2c · Program service revenue: PROGRAM INCOME

    total $326,935 · related or exempt $326,935

  • 2d · Program service revenue: 504 FEE INCOME

    total $316,848 · related or exempt $316,848

  • 2e · Program service revenue: MISCELLANEOUS

    total $35,814 · related or exempt $35,814

  • 2f · All other program service revenue

    total $30,200 · related or exempt $30,200

  • 3 · Investment income

    total $446,067 · excluded $446,067

  • 6a · Gross rents

    real property $155,691

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $155,691

  • 6d · Net rental income or loss

    total $155,691 · related or exempt $155,691

  • 7a · Gross sales of assets other than inventory

    other assets $723,935

  • 7b · Less cost or other basis and sales expenses

    other assets $823,075

  • 7c · Gain or loss

    other assets -$99,140

  • 7d · Net gain or loss

    total -$99,140 · related or exempt -$99,140

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $939,708 · program services $939,708

  • 5 · Compensation of officers, directors and key employees

    total $2,700,031 · program services $1,809,021 · management and general $756,009 · fundraising $135,001

  • 7 · Other salaries and wages

    total $1,655,216 · program services $1,115,612 · management and general $470,738 · fundraising $68,866

  • 8 · Pension plan contributions

    total $344,030 · program services $230,500 · management and general $96,328 · fundraising $17,202

  • 9 · Other employee benefits

    total $860,965 · program services $593,328 · management and general $224,097 · fundraising $43,540

  • 10 · Payroll taxes

    total $323,342 · program services $216,639 · management and general $90,536 · fundraising $16,167

  • 11b · Fees: legal

    total $107,448 · program services $102,849 · management and general $1,484 · fundraising $3,115

  • 11c · Fees: accounting

    total $63,256 · program services $31,429 · management and general $31,827

  • 12 · Advertising and promotion

    total $240,473 · program services $186,862 · management and general $53,611

  • 16 · Occupancy

    total $299,905 · program services $299,186 · management and general $719

  • 17 · Travel

    total $167,721 · program services $151,383 · management and general $12,061 · fundraising $4,277

  • 18 · Travel or entertainment for public officials

    total $40,817 · program services $15,048 · management and general $20,679 · fundraising $5,090

  • 20 · Interest

    total $1,371,500 · program services $1,371,457 · management and general $43

  • 22 · Depreciation, depletion and amortization

    total $921,126 · program services $921,126

  • 23 · Insurance

    total $263,094 · program services $225,193 · management and general $37,901

  • 24a · Other expenses: CONTRACT LABOR

    total $1,580,199 · program services $1,448,203 · management and general $131,996

  • 24b · Other expenses: BAD DEBT

    total $947,586 · program services $947,586

  • 24c · Other expenses: BUILDING MAINTENANCE

    total $483,233 · program services $482,343 · management and general $890

  • 24d · Other expenses: CONSULTING

    total $359,090 · program services $194,301 · management and general $10,875 · fundraising $153,914

  • 24e · All other expenses

    total $1,351,046 · program services $1,150,328 · management and general $179,230 · fundraising $21,488

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $11,485,216 · end of year $13,771,445

  • 4 · Accounts receivable

    beginning of year $2,022,492 · end of year $1,749,640

  • 7 · Other notes and loans receivable

    beginning of year $47,446,694 · end of year $73,711,529

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,850 · end of year $117,133

  • 10a · Land, buildings and equipment: cost or other basis

    $18,227,712

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,772,466

  • 10c · Land, buildings and equipment, net

    beginning of year $24,853,448 · end of year $10,455,246

  • 12 · Investments: other securities

    beginning of year $132,250 · end of year $134,754

  • 15 · Other assets

    end of year $373,917

  • 17 · Accounts payable and accrued expenses

    beginning of year $718,582 · end of year $5,792,051

  • 23 · Secured mortgages and notes payable

    beginning of year $42,374,464 · end of year $50,312,200

  • 25 · Other liabilities

    beginning of year $6,586,512 · end of year $10,914,148

  • 27 · Net assets without donor restrictions

    beginning of year $22,127,642 · end of year $22,373,963

  • 28 · Net assets with donor restrictions

    beginning of year $14,194,750 · end of year $10,921,302

Mission and programs · 2024

Mission

COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION.

  • PROVIDING LENDING ASSISTANCE TO LOW-INCOME INDIVIDUALS SEEKING FIRST TIME HOME OWNERSHIP AND LOW INCOME BUSINESS OWNERS. ADVANTAGES OF CVC'S LENDING PROGRAMS OVER CONVENTIONAL FINANCING INCLUDE: LOW DOWN PAYMENTS, FIXED INTEREST RATES, LONG TERMS, LOW INTEREST RATES, AND THE ABILITY FOR LOAN FEES TO BE FINANCED IN THE LOAN. EXAMPLES OF PROGRAMS OPERATED TO FACILITATE LENDING ASSISTANCE ARE; 1) DEPARTMENT OF TREASURY (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUNDS) - PROVIDES ASSISTANCE TO STRENGTHEN AND EXPAND COMMUNITY DEVELOPMENT TO LOW-INCOME INDIVIDUALS 2) THE COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO") - REPRESENTS FUNDS PROVIDED BY A COMMUNITY-BASED SERVICE ORGANIZATION THAT HAS SIGNIFICANT CAPACITY TO DEVELOP AFFORDABLE HOUSING FOR THE COMMUNITY IT SERVES.

    Expenses $4,420,604 · Revenue $2,288,699

  • COMMUNITY DEVELOPMENT AND ASSISTANCE IN THE ACQUISITION AND SUBSTANTIAL REHABILITATION OF SINGLE-FAMILY HOMES FOR FIRST-TIME BUYERS. CVC HAS A LONGSTANDING COMMITMENT TO KENTUCKY'S NEIGHBORHOODS AND THE ORGANIZATION IS CONSTANTLY EXPLORING OPPORTUNITIES TO ADDRESS THE COMPLEX CHALLENGES FACED BY KENTUCKY'S COMMUNITIES. CVC ADDRESSES THE CHALLENGES THROUGH DEVELOPING PROJECTS IN UNDERSERVED AREAS, CONSTRUCTING SINGLE-FAMILY HOMES FOR FIRST- TIME HOME BUYERS, AND ASSISTING IN FINANCING AND SUPPORTING PROJECTS IN RURAL AREAS.

    Expenses $2,936,540 · Grants $939,708 · Revenue $375,783

  • CVC ASSISTS FAMILIES ACCOMPOLISH THEIR DREAMS OF PURCHASING HOMES, REDUCING DEBT, AND INCREASING FINANCIAL LITERACY THROUGH THEIR EHOME AMERICA PLATFORM. EHOME AMERICA IS AN ONLINE FINANCIAL EDUCATION PLATFORM THAT OFFERS AFFORDABLE FINANCIAL EDUCATION TO CUSTOMERS ACROSS THE GLOBE. THE COURSES ARE OFFERED ON DEMAND AT THE CUSTOMERS CONVENIENCE. THE PLATFORM OFFERS EDUCTION IN THE FOLLOWING AREAS: 1) HOMEBUYER EDUCATION - COMPREHENSIVE 8 HOUR ONLINE HOMEBUYER COURSE THAT IS OFFERED IN ENGLISH AND SPANSISH AND SANCTIONED BY HUD AND USDA 2.) MONEY MANAGEMENT - A 2-3 HOUR COURSE WITH A PROFESSIONAL PARTNER TO ASSIST CUSTOMERS IN TAKING CONTROL OF THEIR FINANACES AND GENERATING PEACE OF MIND FOR THEIR FINANCIAL FUTURES 3.) FORECOLSURE PREVENTION - COURSE IS DESIGNED TO ASSIST CUSTOMERS NAVIGATE THE CHALLENGES OF THE FORECLOSURE PROCESS AND STEPS THAT CAN BE TAKEN TO AVOID THE LOSS OF THEIR HOME.

    Expenses $3,527,298 · Revenue $2,873,063

  • OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS.

    Expenses $1,547,660 · Revenue $906,791

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jojuana Leavell-Greene

    VICE CHAIRWOMAN

    Total calculated
    $0
    Hours/week
    1

  • Reverend Fred Mitchell

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Watz

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Arthur Salomon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deborah Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jerry Johnston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Artie Ford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Duke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Douglas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Koonce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lorrain Smoot

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Raymond Daniels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Robert Henry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Burns

    CHIEF DATA OFFICER

    Total calculated
    $123,276
    From this org
    $86,546
    From related orgs
    $0
    Other
    $36,730
    Hours/week
    40

  • Daniel Heffernan

    PRESIDENT NMTC

    Total calculated
    $144,419
    From this org
    $125,755
    From related orgs
    $0
    Other
    $18,664
    Hours/week
    40

  • Jeff Poe

    PRESIDENT HOUSING

    Total calculated
    $102,297
    From this org
    $85,455
    From related orgs
    $0
    Other
    $16,842
    Hours/week
    40

  • Shirie Hawkins

    PRES EVERYTHING EQUITY

    Total calculated
    $154,143
    From this org
    $130,555
    From related orgs
    $0
    Other
    $23,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $555
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,588
    Filer's total
    $154,143

  • Shane Darrisaw

    PRESIDENT MPACT PRO

    Total calculated
    $171,463
    From this org
    $135,755
    From related orgs
    $0
    Other
    $35,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $755
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,708
    Filer's total
    $171,463

  • Victoria Benson

    PRES MSTRD SEED HILL

    Total calculated
    $98,542
    From this org
    $80,355
    From related orgs
    $0
    Other
    $18,187
    Hours/week
    40

  • Brenda Weaver

    PRESIDENT DISASTER RECOVERY

    Total calculated
    $180,406
    From this org
    $164,151
    From related orgs
    $0
    Other
    $16,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,651
    Bonus
    $500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,255
    Filer's total
    $180,406

  • Kevin Smith

    PRESIDENT & CEO

    Total calculated
    $286,792
    From this org
    $245,371
    From related orgs
    $0
    Other
    $41,421
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $244,616
    Bonus
    $755
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,421
    Filer's total
    $286,792

  • Mark Johnson

    PRESIDENT OF ART INC

    Total calculated
    $85,371
    From this org
    $60,755
    From related orgs
    $0
    Other
    $24,616
    Hours/week
    40

  • Marita Willis

    PRES. COMMUNITY ENGAGEMENT

    Total calculated
    $112,838
    From this org
    $107,300
    From related orgs
    $0
    Other
    $5,538
    Hours/week
    40

  • Wiley Faw

    CFO

    Total calculated
    $167,139
    From this org
    $132,055
    From related orgs
    $0
    Other
    $35,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,300
    Bonus
    $755
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,084
    Filer's total
    $167,139

  • Thomas Murro

    PRESIDENT CHEF SPACE

    Total calculated
    $111,832
    From this org
    $92,555
    From related orgs
    $0
    Other
    $19,277
    Hours/week
    40

  • Brian Hutchinson

    CHIEF DEV. OFFICER

    Total calculated
    $153,005
    From this org
    $136,655
    From related orgs
    $0
    Other
    $16,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,000
    Bonus
    $655
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,350
    Filer's total
    $153,005

  • Milton Sharp

    PRESIDENT - EHOME

    Total calculated
    $183,951
    From this org
    $164,255
    From related orgs
    $0
    Other
    $19,696
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,500
    Bonus
    $12,755
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,696
    Filer's total
    $183,951

  • Lynn Littrel

    SENIOR VP COMMERIAL LENDIN

    Total calculated
    $110,768
    From this org
    $100,774
    From related orgs
    $0
    Other
    $9,994
    Hours/week
    40

  • Krista Buckel

    DIRECTOR BRAND STRATEGY

    Total calculated
    $120,469
    From this org
    $105,895
    From related orgs
    $0
    Other
    $14,574
    Hours/week
    40

  • Michael Berryman

    VP E HOME

    Total calculated
    $135,015
    From this org
    $112,865
    From related orgs
    $0
    Other
    $22,150
    Hours/week
    40

  • Otis Singleton

    DIRECTOR OF FINANCE

    Total calculated
    $116,864
    From this org
    $106,875
    From related orgs
    $0
    Other
    $9,989
    Hours/week
    40

  • Phillip Cave

    CONTROLLER

    Total calculated
    $141,441
    From this org
    $104,702
    From related orgs
    $0
    Other
    $36,739
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • MILLERSBURG REAL PROPERTIES

    $0

    FUTHERANCE OF ORGANIZATION MISSION TO SUPPORT ECONOMICALLY DISTRISSED AREAS OF MILLERSBURG, KY.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COMMUNITY VENTURES PROPERTIES LLC

    COMM DEV · KY

    Directly controlled by CVC

  • COMMUNITY REINVESTMENT PROPERTIES

    COMM DEV · KY

    Directly controlled by CVC

  • CVC FUNDING COMPANY I LLC

    COMM DEV · KY

    Directly controlled by CVC

  • CHEF SPACE LLC

    COMM DEV · KY

    Directly controlled by CVC

  • CV MIDLAND COMPANIES LLC

    COMM DEV · KY

    Directly controlled by CVC

  • MPACT PRO LLC

    COMM DEV · KY

    Directly controlled by CVC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • COMMUNITY VENTURES INVESTMENT XX

    RELATED · COMM DEVEL · KY · 0.01% owned · share of income $4 · share of assets $444 · general or managing partner

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202533219349303063

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