Community Foundation Of West Kentucky Inc in Paducah, Kentucky (KY)

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Community Foundation Of West Kentucky Inc
Employer Identification Number (EIN)611304905
Name of OrganizationCommunity Foundation Of West Kentucky Inc
Address333 Broadway St Ste 615, Paducah, KY 42001-0720
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Endowment fund or financial services
SubsectionCharitable Organization
Ruling Date08/1996
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$7,918,721
Amount of Income$1,309,760
Form 990 Revenue Amount$1,309,760
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $1,309,760
This organization: 

 $1,309,760
Other organizations performing similar types of work: 

 $123,400

Assets in 2013: $7,918,721
This organization: 

 $7,918,721
Other organizations performing similar types of work: 

 $188,019

Expenses in 2012: $1,249,485
This organization: 

 $1,249,485
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2012: 1.0
Community Foundation Of West Kentucky Inc: 

 1.0
Other organizations performing similar types of work: 

 5.6

Expenses allocated to program services in 2007: 85.7%
Community Foundation Of West Kentucky Inc: 

 85.7%
Other organizations performing similar types of work: 

 87.3%

Number of employees in 2012: 5
Community Foundation Of West Kentucky Inc: 

 5
Other organizations performing similar types of work: 

 1

Grants share in income in 2012: 68.1%
Community Foundation Of West Kentucky Inc: 

 68.1%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$2,406,067
Contributions, Gifts, Grants and Other Similar Amounts$1,639,229
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$371,973
Income from investment of tax-exempt bond proceeds$0
Royalties$601
Net rental income$0
Net gain from sales of assets other than inventory$372,726
Gross amount from sales of assets other than inventory (Securities / Other)$3,773,280 / $93,814
Less: cost or other basis and sales expenses (Securities / Other)$3,494,368 / $0
Gain or (loss) (Securities / Other)$278,912 / $93,814
Net income from fundraising events$13,369
Gross income from fundraising events$13,369
Less: direct expenses$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$8,169
Statement of Functional Expenses (for 2012)
Total functional expenses$1,249,485
Compensation of current officers, directors, trustees, and key employees$135,105
Other salaries and wages$51,675
Payroll taxes$14,291
Professional fundraising services$0
Other$1,048,414
Balance Sheet (for 2012)
Total assets$16,972,502
Total liabilities$1,300,886
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$1,300,886
Total net assets or fund balances$15,671,616
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:A community trust described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012)
2008 - 2012 Total
Total Support$6,051,656
Gifts, grants, contributions, and membership fees received$4,602,799
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,448,857
Gross receipts from related activities, etc.$378,154
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20032004200520062007
Total revenue$1,728,999$1,096,990$2,786,492$1,627,069$1,309,760
Contributions, gifts, grants, and similar amounts received$1,295,942$679,297$2,420,861$1,038,898$645,575
Contributions to donor advised funds$225,892$221,250
Direct public support$1,279,206$679,297$2,420,861$813,006$424,325
Indirect public support$16,736$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$90,435$171,645
Dividends and interest from securities$78,808$136,924$71,694$75,316$153,308
Net rental income or (loss)$0$0$0$1,712$180
Gross rents$0$0$0$7,700$4,200
Less: rental expenses$0$0$0$5,988$4,020
Other investment income$351,061$276,956$290,538$4,744$476
Gain or (loss) from sales of assets other than inventory$0$0$0$411,856$330,841
Gross amount from sales of assets other than inventory$0$0$0$2,237,780$1,144,592
Less: cost or other basis and sales expenses$0$0$0$1,825,924$813,751
Net income or (loss) from special events and activities$3,188$3,813$3,399$0$3,962
Gross revenue$6,038$6,531$6,209$0$3,962
Less: direct expenses other than fundraising expenses$2,850$2,718$2,810$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$4,108$3,773
Total expenses$852,650$892,628$796,553$416,908$1,080,830
Program services$755,477$778,803$673,897$280,208$926,754
Management and general$78,343$97,973$105,332$128,458$140,012
Fundraising$18,830$15,852$17,324$8,242$14,064
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$5,065,258$4,806,601$6,581,028$7,668,163$7,918,721
Excess or (deficit) for the year$876,349$204,362$1,989,939$1,210,161$228,930
Net assets or fund balances at beginning of year$4,163,843$5,065,258$4,806,601$6,581,028$7,668,163
Other changes in net assets or fund balances$25,066$-463,019$-215,512$-123,026$21,628
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,080,830$926,754$140,012$14,064
Grants paid from donor advised funds$775,409
Other grants and allocations$135,345
Specific assistance to individuals$16,000
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$60,000$0$54,000$6,000
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$22,450$0$22,450$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$4,393$0$3,954$439
Payroll taxes$6,307$0$5,676$631
Professional fundraising fees$0$0$0$0
Accounting fees$11,369$0$11,369$0
Legal fees$0$0$0$0
Supplies$637$0$510$127
Telephone$1,480$0$1,184$296
Postage and shipping$290$0$232$58
Occupancy$0$0$0$0
Equipment rental and maintenance$2,234$0$2,234$0
Printing and publications$1,565$0$0$1,565
Travel$331$0$265$66
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$2,689$0$2,689$0
Other expenses not covered above$40,331$0$35,449$4,882
Balance Sheets
20032004200520062007
Total assets$5,142,636$5,345,059$7,336,065$8,202,410$8,963,889
Cash - non-interest-bearing$1,766$2,202$400$400$400
Savings and temporary cash investments$819,292$600,280$446,869$81,504$90,331
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$428,389$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$2,118$2,023$3,218
Investments - publicly-traded securities$7,502,725$8,471,985
Investments - other securities$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$178,100$281,523
Investments - other$4,314,698$4,737,971$6,872,566$0$0
Land, buildings, and equipment less accumulated depreciation$6,880$4,606$14,112$9,269$6,580
Other assets, including program-related investments$0$0$0$0$109,852
Total liabilities$77,378$538,458$755,037$534,247$1,045,168
Accounts payable and accrued expenses$5,175$2,272$3,339$2,270$2,459
Grants payable$0$0$0$0$256,865
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$72,203$536,186$751,698$531,977$785,844
Total liabilities and net assets/fund balances$5,142,636$5,345,059$7,336,065$8,202,410$8,963,889
Total net assets or fund balances$5,065,258$4,806,601$6,581,028$7,668,163$7,918,721
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$0$0$0$1,627,069$1,309,760
Total revenue, gains, and other support per audited financial statements$0$0$0$1,572,007$1,232,159
Other expenses$0$0$0$-28,431$26,877
Net unrealized gains on investments$0$0$0$-34,419$13,295
Donated services and use of facilities$0$0$0$0$3,500
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$5,988$10,082
Other revenue$0$0$0$26,631$104,478
Investment expenses$0$0$0$24,180$0
Other$0$0$0$2,451$104,478
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$0$0$0$416,908$1,080,830
Total expenses and losses per audited financial statements$0$0$0$399,299$1,067,115
Other revenue$0$0$0$6,571$13,795
Donated services and use of facilities$0$0$0$0$3,500
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$6,571$10,295
Other expenses$0$0$0$24,180$27,510
Investment expenses$0$0$0$24,180$27,510
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
45$60,000$4,267$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20062
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$8,391$655,794
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$171,645
Dividends and interest from securities000000$000$0$153,308
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$180$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Royalty income excluded by section 512(b)(2)$476$0
Gain or (loss) from sales of assets other than inventory000000$000$0$330,841
Net income or (loss) from special events000000$0Section 501(c)(7), (9), or (17) organization - Non-exempt function income set aside for a charitable, etc., purpose specified in section 170(c)(4) (section 512(a)(3)(B)(i))$3,962$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Gross income from an unrelated activity that is regularly carried on but, in light of continuous losses sustained over a number of tax periods, cannot be regarded as being conducted with the motive to make a profit (not a trade or business)$3,773$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0505353430%$-213$2,780
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$19
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isCommunity Trust
Support Schedule
20022003200420052006
Total$621,321$1,380,788$1,099,708$1,498,764$1,204,649
Gifts, grants, and contributions received$630,828$1,295,942$679,297$1,420,861$1,038,898
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$6,048$6,038$6,531$6,209$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$12,534$78,808$136,924$71,694$165,751
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$-28,089$0$276,956$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2Community Foundation Of West Kentucky Inc333 Broadway St Ste 615, Paducah, KY 42001-0720KY1996-08$1,309,760
3Public Life Foundation Of Owensboro Inc401 Frederica Street Bldg B 203, Owensboro, KY 42301-6297KY1996-04$8,409,058
4Mulhollem Cravens FoundationPO BOX 192, Carlisle, KY 40311-0192KY2006-10$1,151,184
5Community Foundation Of South Central Kentucky IncPO BOX 737, Bowling Green, KY 42102-0737KY1996-01$952,778
6Lake Area Foundation Inc2384 Lakeway Dr, Russell Spgs, KY 42642-4509KY2014-02$145,063
7Kiwanis Club Of Hopkinsville Kentucky FoundationPo Box 470, Hopkinsville, KY 42241-0470KY2010-08$95,055
8Derrick Johnsons Defend The Dream Foundation59 Cavalier Blvd Ste 310, Florence, KY 41042-3902KY2014-07$83,065
9United Community Fund Of Cynthiana And Harrison County KentuckyPO BOX 194, Cynthiana, KY 41031-0194KY2006-11$61,268
10Friends Of Esquipulas Inc1226 W Oak St, Louisville, KY 40210-1533KY2012-04$54,210
11Andrew M Wagner Foundation Inc15015 Bircham Rd, Louisville, KY 40245-4103KY2009-06$16,667
12Photizo Foundation IncPO BOX 4160, Midway, KY 40347-4160KY2012-09$1,050
13Ashland Association Of Life Underwriters Commuty Char Fund IncPO BOX 870, Ashland, KY 41105-0870KY1998-04$0
14Brothers Of The WindPo Box 1313, Jenkins, KY 41537KY2007-01$0
15Calloway County Extension Homemakers Association310 South 4th Street, Murray, KY 42071KY2011-01$0
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Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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