KENTUCKY HIGHLANDS COMMUNITY DEVEL… - 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

1994

Legal Domicile

Principal Officer

JERRY RICKETT

Phone

6068645175

Tax Period

2024-04-01 to 2025-03-31

KENTUCKY HIGHLANDS COMMUNITY DEVELOPMENT CORPORATION, founded in 1994, is a mid-sized nonprofit that reported $11.5M in total revenue in fiscal year 2024. Revenue surged 780% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.2M, a strong 89% operating margin.

Mission

KHCDC PROVIDES FINANCING TO COMPANIES IN ITS SERVICE AREA, WHERE TRADITIONAL FINANCING SOURCES MAY NOT BE READILY AVAILABLE.

Program Service Accomplishments

Program 1

Expenses: $1,192,203 Revenue: $300,322

KHCDC PROMOTES DEVELOPMENT OF AND ASSISTANCE TO LOCAL BUSINESS ENTERPRISES WHICH HAVE THE PROSPECT OF INCREASING THE INCOME OF THE AREA'S RESIDENTS AND EXPANDING THEIR EMPLOYMENT OPPORTUNITIES. AS A SUPPORTING ORGANIZATION, KHCDC ALSO SUPPORTS THE AFFORDABLE HOUSING DEVELOPMENT EFFORTS OF ITS SUPPORTED ORGANIZATION, KENTUCKY HIGHLANDS INVESTMENT CORP INCLUDING PROVIDING AFFORDABLE HOUSING SOLUTIONS WITH PROGRAMS THAT SPECIALIZE IN TURN-KEY HOMES, LOWER-INCOME HOUSING PROGRAMS, MUTUAL SELF-HELP HOUSING PROGRAMS, ELDERLY HOUSING AND SEVERAL ENERGY EFFICIENT AND/OR COMMUNITY DEVELOPMENT PROJECTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $11,151,747

Program Service Revenue $300,322

Investment Income $0

Other Revenue $0

TOTAL REVENUE $11,452,069

Expense Breakdown

Grants Paid $831,918

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,192,203

Other Expenses $452,235

TOTAL EXPENSES $1,284,153

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,452,069	$1,300,790	+7.8%
Expenses	$1,284,153	$1,401,856	-0.1%
Net Income	$10,167,916	$-101,066	-101.6%

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

N/A

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

$1,594,668

Total Directors

$70,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL BERTRAM	DIRECTOR	1.00	Director	$0	$0	$4,950
SAMUEL BROWN	DIRECTOR	1.00	Director	$0	$0	$4,500
JANE CARTER	DIRECTOR	1.00	Director	$0	$0	$4,500
RICHARD FOLEY	DIRECTOR	1.00	Director	$0	$0	$4,500
CLARENCE BO GREEN	DIRECTOR	1.00	Director	$0	$0	$4,050
JENNIFER JONES	DIRECTOR	1.00	Director	$0	$0	$2,250
GREENE L KEITH	DIRECTOR	1.00	Director	$0	$0	$4,950
LONNIE RILEY	DIRECTOR	1.00	Director	$0	$0	$3,600
WILLIAM SINGLETON	DIRECTOR	1.00	Director	$0	$0	$13,200
WILLIAM SMITH	DIRECTOR	1.00	Director	$0	$0	$4,050
SERENA STRATTON	DIRECTOR	1.00	Director	$0	$0	$3,600
PAULA LITTLE	DIRECTOR	1.00	Director	$0	$0	$4,950
AMY ELLIS	DIRECTOR	1.00	Director	$0	$0	$4,050
OSCAR HOUSE	DIRECTOR	1.00	Director	$0	$0	$4,500
SHANE GABBARD	DIRECTOR	1.00	Director	$0	$0	$3,150
JERRY RICKETT	PRESIDENT	5.00	Officer	$0	$78,903	$583,028
BRENDA MCDANIEL	EXEC. VICE PRESIDENT/CFO	5.00	Officer	$0	$79,899	$555,864
MARK BOLINGER	VICE PRESIDENT, BUSINESS L	5.00	Officer	$0	$69,735	$353,655
RUBY ADAMS	SECRETARY	5.00	Officer	$0	$35,773	$102,121
EDGAR DAVIS	BUSINESS DEVELOPMENT SPECI	1.00	Highest	$0	$53,092	$229,791
RAY MONCRIEF	FORMER OFFICER	1.00		$0	$0	$90,000

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
2025	$11,452,069	$1,284,153	$14,115,426	$10,167,916
2024	$1,300,790	$1,401,856	$4,125,816	$-101,066
2023	$1,485,055	$1,511,971	$4,992,896	$-26,916
2022	$1,209,567	$1,263,778	$4,648,028	$-54,211
2021	$1,416,525	$1,399,442	$4,454,485	$17,083
2020	$1,282,494	$610,626	$5,250,804	$671,868
2019	$977,728	$757,890	$3,745,725	$219,838
2018	$1,207,327	$685,275	$2,956,757	$522,052

KENTUCKY HIGHLANDS COMMUNITY DEVELOPMENT CORPORATION