THE CENTER FOR RURAL DEVELOPMENT INC

EIN: 611291304 501(c)(3) Community Improvement

SOMERSET, KY

Total Revenue
$9,890,455
Total Expenses
$10,550,812
Total Assets
$60,865,607
Net Assets
$49,916,739
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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
1995
Legal Domicile
KY
Principal Officer
LONNIE LAWSON
Phone
6066776000
Tax Period
2024-07-01 to 2025-06-30

THE CENTER FOR RURAL DEVELOPMENT INC, founded in 1995, is a community nonprofit in the Community Improvement sector that reported $9.9M in total revenue in fiscal year 2024. Net assets of $49.9M represent 61 months of operating reserves.

Mission

TO PROVIDE ECONOMIC DEVELOPMENT TO SOUTHEASTERN KENTUCKY.

Program Service Accomplishments

Program 1
Expenses: $8,118,155

THE CENTER FACILITATES REGIONAL AND NATIONAL RURAL DEVELOPMENT IN PUBLIC SAFETY, ARTS AND CULTURE, LEADERSHIP, AND TECHNOLOGY.

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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 $7,060,972
Program Service Revenue $1,036,389
Investment Income $87,212
Other Revenue $1,705,882
TOTAL REVENUE $9,890,455

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,669,953
Fundraising Expenses $0
Program Expenses $8,118,155
Other Expenses $7,880,859
TOTAL EXPENSES $10,550,812

Year-over-Year Comparison

2024 2023 Change
Revenue $9,890,455 $9,400,255 +0.1%
Expenses $10,550,812 $9,098,378 +0.2%
Net Income $-660,357 $301,877 -3.2%
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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Governance

Voting Members
11
Independent Members
11
Employees
42
Volunteers
10

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
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK HANEY CHAIRMAN 2.00
Officer Director
$0 $0 $0
JERRY A RICKETT VICE CHAIR 2.00
Officer Director
$0 $0 $0
SAM BROWN SECRETARY 2.00
Officer Director
$0 $0 $0
BOB MITCHELL TREASURER 2.00
Officer Director
$0 $0 $0
DR REED ADKINS BOARD MEMBER 2.00
Director
$0 $0 $0
DR JAY MORGAN BOARD MEMBER 2.00
Director
$0 $0 $0
JC EGNEW BOARD MEMBER 2.00
Director
$0 $0 $0
DR LAURA STEPHENSON BOARD MEMBER 2.00
Director
$0 $0 $0
JEAN M DORTON BOARD MEMBER 2.00
Director
$0 $0 $0
TIM ROBINSON BOARD MEMBER 2.00
Director
$0 $0 $0
DR ALLISON CHERRY BOARD MEMBER 2.00
Director
$0 $0 $0
LONNIE LAWSON PRES. CEO 50.00
Highest
$174,353 $29,730 $204,083
RICHARD TAYLOR EXECUTIVE VP 50.00
Highest
$155,000 $41,085 $196,085
ZACHARY AUSMUS BROADBAND MA 50.00
Highest
$125,000 $12,352 $137,352
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 $9,890,455 $10,550,812 $60,865,607 $-660,357
2024 $9,400,255 $9,098,378 $53,411,405 $301,877
2023 $8,257,213 $9,002,610 $53,128,428 $-745,397
2022 $7,680,890 $6,901,640 $52,726,644 $779,250
2021 $10,723,705 $6,153,616 $52,060,877 $4,570,089
2020 $37,022,328 $7,444,641 $48,106,212 $29,577,687
2019 $6,866,554 $7,234,788 $18,560,214 $-368,234
2018 $6,504,671 $6,931,238 $19,126,467 $-426,567
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