Kentucky Industrial Development Council Inc in Frankfort, Kentucky (KY)

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Kentucky Industrial Development Council Inc
Employer Identification Number (EIN)611161213
Name of OrganizationKentucky Industrial Development Council Inc
In Care of NameHAL GOODE
Address101 Burch Court, Frankfort, KY 40601
ActivitiesProfessional association
SubsectionCharitable Organization
Ruling Date12/1989
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2014
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$90,213
Amount of Income$145,718
Form 990 Revenue Amount$145,718
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Urban, Community Economic Development


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Amount of income in 2014: $145,718 (it was $145,718 in 2013)
Kentucky Industrial Development Council Inc: 

 $145,718
Other organizations performing similar types of work: 

 $190,298

Assets in 2014: $90,213 (it was $90,213 in 2013)
Kentucky Industrial Development Council Inc: 

 $90,213
Other organizations performing similar types of work: 

 $326,461

Expenses in 2013: $111,237
This organization: 

 $111,237
Other organizations performing similar types of work: 

 $231,022

Income to expenses ratio in 2013: 1.3
This organization: 

 1.3
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 35.7%

Financial snapshot ($)

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$64,821$72,470$145,718
Contributions, gifts, grants, and similar amounts received$0$0$0
Program service revenue including government fees and contracts$60,899$72,470$145,718
Membership dues and assessments$0$0$0
Investment income$3,922$0$0
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$69,193$122,098$111,237
Total net assets$172,165$-31,726$90,213
Excess/Deficit for the year$-4,372$-49,628$34,481
Net assets or fund balances at beginning of year$176,692$172,165$-31,726
Other changes in net assets or fund balances$-155$-154,263$87,458
Net assets or fund balances at end of year$-31,726$90,213
Balance Sheets
201120122013
Total assets$172,165$4,283$90,213
Total liabilities$0$36,009$0
Net assets or fund balances$172,165$-31,726$90,213
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$395,582
Subtotal$395,582
Gifts, grants, contributions, and membership fees received$3,450
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$392,132
Gross receipts from activities that are not an unrelated trade or business under section 513$0
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
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$407,356
Public support$395,582
Subtotal$11,774
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$11,774
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Uptown Columbus IncPO BOX 1237, Columbus, GA 31902-1237GA1985-04$12,826,789
2South Bronx Overall Economic Development Corporation555 Bergen Ave, Bronx, NY 10455-1368NY1973-08$8,444,805
3West Central Indiana Economic Development District Inc1718 Wabash Ave, Terre Haute, IN 47807-3323IN1969-08$5,403,201
4South Georgia Regional Development CenterPO BOX 1223, Valdosta, GA 31603-1223GA1979-09$4,665,054
5Warriors Inc2733 Market St, Youngstown, OH 44507-1612OH1998-08$2,042,544
6Sierra Vista Economic Development750 Bartow, Sierra Vista, AZ 85635-1827AZ1987-06$1,835,033
7Stand Up For Salem IncFenwick Plaza Suite 7, Salem, NJ 08079NJ1989-09$1,714,895
8Downtown Development Corporation556 S 4th St, Louisville, KY 40202-2504KY1982-11$1,399,466
9Tule River Economic Development Corporation2780 W Yowlumne Ave Ste A559, Porterville, CA 93257-9592CA1992-07$1,156,764
10Sunrise County Economic Council53 Prescott Dr Suite 3, Machias, ME 04654-3424ME1995-03$1,012,879
11Urban Enterprise Association Of Hammond Indiana Inc649 Conkey St, Hammond, IN 46324-1158IN1993-06$922,216
12Randolph Area Community Development CorporationPO BOX 7, Randolph, VT 05060-0007VT1994-05$913,807
13Saratoga Economic Development Corporation28 Clinton Ave, Saratoga Springs, NY 12866-2391NY1980-01$831,929
14Texas Economic Development CorporationPO BOX 684702, Austin, TX 78768-4702TX1993-05$765,896
15Washington Heights And Inwood Development Corporation57 Wadsworth Ave, New York, NY 10033-7048NY1979-02$633,423
16Tennessee Economic Partnership Inc217 5th Ave North 200, Nashville, TN 37219-1901TN1992-05$588,539
17Kentucky Industrial Development Council Inc101 Burch Court, Frankfort, KY 40601KY1989-12$145,718
18Economic Development Properties Inc200 East 3rd Street, Owensboro, KY 42303-4277KY1960-04$54,029
19Action Incorporated1101 Main Street, Benton, KY 42025KY1986-05$0
20Henderson Long Range Planning Council IncPO BOX 716, Henderson, KY 42419-0716KY1997-10$0
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas6
Arizona6
California34
Colorado8
Connecticut9
District of Columbia7
Florida22
Georgia12
Hawaii1
Iowa18
Idaho3
Illinois30
Indiana20
Kansas1
Kentucky5
Louisiana8
Massachusetts17
Maryland11
Maine2
Michigan17
Minnesota11
Missouri17
Mississippi6
Montana4
North Carolina24
North Dakota3
Nebraska2
New Hampshire2
New Jersey17
New Mexico2
Nevada3
New York59
Ohio18
Oklahoma5
Oregon4
Pennsylvania32
South Carolina7
South Dakota3
Tennessee11
Texas21
Utah1
Virginia10
Vermont1
Washington6
Wisconsin14
West Virginia3
Wyoming2
International1
Total531

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