SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC

EIN: 616035011

SHELBYVILLE, KY

Total Revenue
$916,276
Total Expenses
$861,960
Total Assets
$4,692,480
Net Assets
$2,859,837
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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
1957
Legal Domicile
KY
Principal Officer
RAY LEATHERS
Phone
5026335068
Tax Period
2023-01-01 to 2023-12-31

SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC, founded in 1957, is a small nonprofit that reported $916K in total revenue in fiscal year 2023. Revenue surged 164% from the prior year, signaling strong growth momentum. Expenses of $862K left a modest 6% surplus.

Mission

TO PROMOTE INDUSTRIAL AND COMMERCIAL DEVELOPMENT IN SHELBY COUNTY, 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 (2023)

Revenue Breakdown

Contributions & Grants $246,593
Program Service Revenue $427,954
Investment Income $196,244
Other Revenue $45,485
TOTAL REVENUE $916,276

Expense Breakdown

Grants Paid $0
Salaries & Benefits $390,497
Fundraising Expenses $0
Other Expenses $471,463
TOTAL EXPENSES $861,960

Year-over-Year Comparison

2023 2022 Change
Revenue $916,276 $347,497 +1.6%
Expenses $861,960 $425,009 +1.0%
Net Income $54,316 $-77,512 -1.7%
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
16
Independent Members
15
Employees
19
Volunteers
20

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
$77,688
Total Directors
19
$77,688
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BOBBY G HUDSON DIRECTOR 0.50
Director
$0 $0 $0
STEVE COLLINS DIRECTOR 0.50
Director
$0 $0 $0
TROY ETHINGTON DIRECTOR 0.50
Director
$0 $0 $0
TOM HARDESTY DIRECTOR 0.50
Director
$0 $0 $0
PAT HARGADON CHAIRMAN 0.50
Officer Director
$0 $0 $0
STEVE MEADOR VICE-CHAIRMAN 0.50
Officer Director
$0 $0 $0
WAYNE KAREM DIRECTOR 0.50
Director
$0 $0 $0
RAY LEATHERS PRESIDENT/CEO 35.00
Officer Director
$77,688 $0 $77,688
DAN ISON DIRECTOR 0.50
Director
$0 $0 $0
JACK BRAGG TREASURER 0.50
Officer Director
$0 $0 $0
DOUG LANGLEY DIRECTOR 0.50
Director
$0 $0 $0
JERRY KAREM DIRECTOR 0.50
Director
$0 $0 $0
BRIAN WEBB DIRECTOR 0.50
Director
$0 $0 $0
ROXANN FRY DIRECTOR 0.50
Director
$0 $0 $0
AARON GAROFOLA DIRECTOR 0.50
Director
$0 $0 $0
DR SALLY SUGG DIRECTOR 0.50
Director
$0 $0 $0
RONALD SOWDER DIRECTOR 0.50
Director
$0 $0 $0
ASHLEY COULTER DIRECTOR 0.50
Director
$0 $0 $0
DERRICK THOMPSON DIRECTOR 0.50
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
2024 No data No data No data No data
2023 $916,276 $861,960 $4,692,480 $54,316
2022 $790,376 $925,805 $4,846,974 $-135,429
2022 $347,497 $425,009 $4,710,721 $-77,512
2021 $543,985 $674,899 $4,723,839 $-130,914
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