KENTUCKY HIGHLANDS COMMUNITY DEVELOPMENT CORPORATION

EIN: 611253192 501(c)(3)

LONDON, KY

Total Revenue
$11,452,069
Total Expenses
$1,284,153
Total Assets
$14,115,426
Net Assets
$10,689,103
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
KY
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 WAS FORMED TO PROMOTE THE TAX-EXEMPT MISSION OF KENTUCKY HIGHLANDS INVESTMENT CORPORATION, A SECTION 501(C)(4) ORGANIZATION. THEIR MISSION IS JOB CREATION AND RETENTION IN A TWENTY-TWO COUNTY ECONOMICALLY DISADVANTAGED AREA OF SOUTHEASTERN KENTUCKY. THIS MISSION IS ACCOMPLISHED THROUGH NON-TRADITIONAL INVESTMENT IN COMPANIES WHICH WILL PROVIDE THESE JOBS.

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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 $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

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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
14
Independent Members
14
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
4
$1,594,668
Total Directors
15
$70,800
Key Employees
0
$0
Highest Compensated
1
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
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