COMMERCE LEXINGTON INC

EIN: 610258800

LEXINGTON, KY

Total Revenue
$4,806,508
Total Expenses
$5,393,020
Total Assets
$6,076,860
Net Assets
$3,173,102
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
KY
Principal Officer
ROBERT QUICK
Phone
8592544447
Tax Period
2024-01-01 to 2024-12-31

COMMERCE LEXINGTON INC, founded in 1942, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2024. Expenses of $5.4M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO REPRESENT OUR MEMBERS, CREATING THE ENVIRONMENT AND OPPORTUNITY FOR ECONOMIC PROSPERITY AND QUALITY LIVING IN CENTRAL KENTUCKY.

Program Service Accomplishments

Program 1
Expenses: $4,433,658

COMMERCE LEXINGTON PROVIDES SERVICES TO ITS MEMBER ORGANIZATIONS INCLUDING SUCH ACTIVITIES AS CONFERENCES, MONTHLY PROGRAMS, ANNUAL MEETINGS & PUBLICATIONS.

Program 2
Expenses: $959,363

PROMOTION OF ECONOMIC DEVELOPMENT AND JOBS CREATION IN CENTRAL KENTUCKY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,763,406
Program Service Revenue $1,690,447
Investment Income $121,438
Other Revenue $231,217
TOTAL REVENUE $4,806,508

Expense Breakdown

Grants Paid $433,655
Salaries & Benefits $2,588,640
Fundraising Expenses $0
Program Expenses $5,393,021
Other Expenses $2,370,725
TOTAL EXPENSES $5,393,020

Year-over-Year Comparison

2024 2023 Change
Revenue $4,806,508 $4,585,100 +0.0%
Expenses $5,393,020 $4,655,848 +0.2%
Net Income $-586,512 $-70,748 +7.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
18
Independent Members
17
Employees
24
Volunteers
62

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
17
$284,382
Total Directors
18
$284,382
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT L QUICK PRESIDENT & CEO 40.00
Officer Director
$252,769 $31,613 $284,382
KEEANA BOARMAN GENERAL COUNSEL 1.00
Officer Director
$0 $0 $0
CASSIDY ROSENTHAL IMMEDIATE PAST CHAIR 1.00
Officer Director
$0 $0 $0
DEBBIE SMITH TREASURER 1.00
Officer Director
$0 $0 $0
BRANDEN GROSS AT-LARGE MEMBER 1.00
Director
$0 $0 $0
CARLA BLANTON BOARD CHAIR-ELECT 1.00
Officer Director
$0 $0 $0
LUTHER DEATON VICE CHAIR, ECONOMIC DEVELOPMENT 1.00
Officer Director
$0 $0 $0
DARYL SMITH AT-LARGE MEMBER 1.00
Officer Director
$0 $0 $0
TOA GREEN VICE CHAIR, LEADERSHIP DEVELOPMENT 1.00
Officer Director
$0 $0 $0
STEPHANIE BELL AT-LARGE MEMBER 1.00
Officer Director
$0 $0 $0
LARRY FORESTER VICE CHAIR, COMMUNITY & MINORITY BUSINESS DEVELOPM 1.00
Officer Director
$0 $0 $0
NICK NICHOLSON VICE CHAIR, PUBLIC POLICY & REGIONAL ENGAGEMENT 1.00
Officer Director
$0 $0 $0
KEVIN ATKINS LFUCG REPRESENTATIVE 1.00
Officer Director
$0 $0 $0
JOHN MAHAN REGIONAL REPRESENTATIVE 1.00
Officer Director
$0 $0 $0
TUCKER BALLINGER VICE CHAIR, BUSINESS & EDUCATION NETWORK 1.00
Officer Director
$0 $0 $0
DANNY MURPHY VICE CHAIR, MEMBERSHIP AND ENGAGEMENT 1.00
Officer Director
$0 $0 $0
JONATHAN CALDWELL VICE CHAIR, COMMUNICATIONS 1.00
Officer Director
$0 $0 $0
STEVE BYARS BOARD CHAIR 1.00
Officer Director
$0 $0 $0
GINA GREATHOUSE EXECUTIVE VICE PRESIDENT 40.00
Highest
$166,063 $16,110 $182,173
LYNDA BEBROWSKY EXECUTIVE VICE PRESIDENT, 40.00
Highest
$135,929 $14,540 $150,469
ANDI JOHNSON CHIEF POLICY OFFICER & DIR 40.00
Highest
$151,825 $15,056 $166,881
TYRONE TYRA SENIOR VICE PRESIDENT, COM 40.00
Highest
$126,720 $14,051 $140,771
LISA D MAHAN VICE PRESIDENT OF STRATEGIC PARTNERSHIPS 40.00
Highest
$127,152 $14,297 $141,449
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,806,508 $5,393,020 $6,076,860 $-586,512
2023 $4,585,100 $4,655,848 $7,136,220 $-70,748
2022 $4,156,532 $4,303,935 $6,824,695 $-147,403
2021 $4,699,929 $3,695,690 $6,530,794 $1,004,239
2020 $3,268,529 $2,984,121 $5,766,494 $284,408
2019 $4,082,768 $3,970,136 $5,702,180 $112,632
2018 $4,025,395 $3,965,985 $5,638,656 $59,410
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