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Nonprofiteer
← OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION

Form 990-EZ for tax year 2023

Filed by OLIVE HILL COMMUNITY ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$124,056
Total expenses
$99,067
Contributions and grants received
$96,500
Grants paid
not reported
Program service revenue
$27,556
Membership dues (line 3)
not reported
Investment income (line 4)
not reported
Gain or loss on sale of assets (line 5c)
$0
Gaming and fundraising events, net (line 6d)
$0
Gross profit on inventory sales (line 7c)
$0
Other revenue (line 8)
not reported
Total assets, end of year
$81,562
Total liabilities, end of year
$53,285
Net assets or fund balances, end of year
$28,277
Program service expenses (Part III)
$78,641

Program services were 79.4% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.

Mission and programs · 2023

Primary exempt purpose

"Olive Hill CEDC's primary exempt purpose is to provide economic mobility services including affordable housing support foreclosure prevention loss mitigation small business development and other economic activities that help individuals move out of poverty."

  • Conducted 10 homeownership education classes with an average attendance of 8 participants per class. Additionally provided homeownership counseling to an average of 4 clients per month totaling 48 counseling sessions for the year. As a result of these efforts 15 participants successfully purchased homes.

    Expenses $50,000 · Grants $50,000

  • Responded to 85 inquiries regarding foreclosure prevention and loss mitigation. Submitted workout requests for all 85 cases while also utilizing Homeowner Assistance Funds HAP to assist the majority of borrowers in a avoiding foreclosure

    Expenses $10,000 · Grants $25,000

  • Offered counseling support services and business plan development to 18 clients. Referred 6 clients to Mt. Bizworks Multicultural Catalyst program for non-traditional financing options and 1 client to The Industrial Commons loan program for further financial assistance.

    Expenses $5,641 · Grants $5,233

  • Community Outreach Activities - "Olive Hill CEDC engages in community outreach activities to raise awareness of its programs and services recruit individuals for participation in services and classes and collaborate with other human service agencies."

    Expenses $13,000 · Grants $13,500

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part IV

  • Beverly Carlton

    Executive Director

    Total calculated
    $34,600
    Compensation
    $34,600
    Benefit plans
    $0
    Expense account
    $0
    Hours/week
    40

  • Winston Hill Jr

    Board President

    Total calculated
    $0
    Hours/week
    2

  • Leslie Kern

    Board Secretary

    Total calculated
    $0
    Hours/week
    2

  • Ebony Johnson Hill

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Rev Anthony Ratcliff

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Charlita Lytle

    Board Member

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990_ez
Tax year
2023
Filed
18 October 2024
IRS schema version
2023v5.1
Source object
202402929349200400

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