PURCHASE AREA DEVELOPMENT DISTRICT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

JEREMY BUCHANAN

Phone

2702477171

Tax Period

2021-07-01 to 2022-06-30

PURCHASE AREA DEVELOPMENT DISTRICT INC, founded in 1969, is a mid-sized nonprofit that reported $14.3M in total revenue in fiscal year 2021. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $13.6M left a modest 5% surplus.

Mission

THE PURCHASE AREA DEVELOPMENT DISTRICT (PADD) OFFERS A DIVERSE COLLECTION OF SERVICES, TOUCHING EVERY ASPECT OF LIFE IN THE PURCHASE REGION. LOCATED IN THE FAR-WEST KENTUCKY, PADD SERVICES INCLUDE PROGRAMS FOR HUMAN SUPPORT, COMMUNITY INFRASTRUCTURE PLANNING, ECONOMIC DEVELOPMENT, AND SPECIAL PROJECTS THE BLENDING OF THESE OFFERINGS PROVIDES A WELL-ROUNDED APPROACH TO MEETING THE CURRENT AND FUTURE NEEDS OF OUR REGION.

Program Service Accomplishments

Program 1

Expenses: $12,941,208 Revenue: $42,888

THE PURCHASE AREA DEVELOPMENT DISTRICT (THE "DISTRICT") SUPPORTS ECONOMIC DEVELOPMENT, GIVES TECHNICAL ASSISTANCE AND HELPS IN ADMINISTERING SERVICES AND PROGRAMS IN THE DESIGNATED EIGHT COUNTY...

THE PURCHASE AREA DEVELOPMENT DISTRICT (THE "DISTRICT") SUPPORTS ECONOMIC DEVELOPMENT, GIVES TECHNICAL ASSISTANCE AND HELPS IN ADMINISTERING SERVICES AND PROGRAMS IN THE DESIGNATED EIGHT COUNTY JACKSON PURCHASE AREA OF 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%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $14,109,252

Program Service Revenue $42,888

Investment Income $117,062

Other Revenue $0

TOTAL REVENUE $14,269,202

Expense Breakdown

Grants Paid $3,323,237

Salaries & Benefits $2,241,585

Fundraising Expenses $0

Program Expenses $12,941,208

Other Expenses $8,049,929

TOTAL EXPENSES $13,614,751

Year-over-Year Comparison

	2021	2020	Change
Revenue	$14,269,202	$12,517,307	+0.1%
Expenses	$13,614,751	$11,352,700	+0.2%
Net Income	$654,451	$1,164,607	-0.4%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD COOPER	SECRETARY	1.00	Officer Director	$0	$0	$0
CATHY PIGG	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN PUCKETT	DIRECTOR	1.00	Director	$0	$0	$0
KENNY IMES	DIRECTOR	1.00	Director	$0	$0	$0
BOB ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
MARK MANNING	DIRECTOR	1.00	Director	$0	$0	$0
SUE OUTLAND	DIRECTOR	1.00	Director	$0	$0	$0
GREG TERRY	DIRECTOR	1.00	Director	$0	$0	$0
BILL FRASER	DIRECTOR	1.00	Director	$0	$0	$0
NANCY HENLEY	DIRECTOR	1.00	Director	$0	$0	$0
JIM MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GUNN	DIRECTOR	1.00	Director	$0	$0	$0
PERRY TURNER	DIRECTOR	1.00	Director	$0	$0	$0
GREG CURLIN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WILEY GANNON	DIRECTOR	1.00	Director	$0	$0	$0
RICHIE GALLOWAY	DIRECTOR	1.00	Director	$0	$0	$0
KATHY O'NAN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES SHELBY	DIRECTOR	1.00	Director	$0	$0	$0
TAMIE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
PETE GALLOWAY	DIRECTOR	1.00	Director	$0	$0	$0
MONICA JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
KENNY WILSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JOHN KELLY	DIRECTOR	1.00	Director	$0	$0	$0
WYNITA DILLARD	DIRECTOR	1.00	Director	$0	$0	$0
ETHAN CUNNINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN NEAL	DIRECTOR	1.00	Director	$0	$0	$0
RITA DOTSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOHN WARD	DIRECTOR	1.00	Director	$0	$0	$0
MARTIE WILES	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG CLYMER	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE BRAY	DIRECTOR	1.00	Director	$0	$0	$0
ARTHUR BOYKIN	TREASURER	1.00	Officer Director	$0	$0	$0
BILL BARTLEMAN	DIRECTOR	1.00	Director	$0	$0	$0
MATT SNOW	DIRECTOR	1.00	Director	$0	$0	$0

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
2022	$14,269,202	$13,614,751	No data	$654,451
2021	$12,517,307	$11,352,700	$14,035,912	$1,164,607
2020	$11,136,772	$10,871,778	$12,234,777	$264,994
2019	$10,573,876	$10,867,149	$11,894,572	$-293,273

PURCHASE AREA DEVELOPMENT DISTRICT INC