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Union County Industrial Development Authority INC

Not tax-deductible

Morganfield, KY501(c)(6)Since 2007Community DevelopmentEIN 45-3807481Revenue $64K in FY2024

On file with the IRSucfirst.orgPo Box 374, 42437-0374 · Morganfield, KYTax-exempt since Apr 2013

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To aid in the acquisition, retention, and Development of land for Industrial and commercial purposes in kentucky, to aid in the Development and promotion of Industrial sites, parks and subdivisions for accomodating Industrial and commercial needs; to promote and stimulate the acquisition, retention and Development of land for Industrial and commercial and commercial purposes in kentucky by other local Development organizations both public and private.

65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $57K a year · 119% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
65%
of spending
Fine: 65% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
1925 mo
of spending, in cash
Looks good: 1925.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$64K
+42% vs prior year
Spent
$19K
To programs
65%
Net assets
$6.1M
By yearFY2020–FY2024
Revenue
$64K
FY2024▲ +42%
Tap a bar for its year
Revenue by fiscal year
FY2020$51K
FY2021$52K
FY2022$52K
FY2023$41K
FY2024$45K
FY2024$64K
Expenses
$19K
FY2024▲ +132%
Tap a bar for its year
Expenses by fiscal year
FY2020$93K
FY2021$35K
FY2022$384K
FY2023$6K
FY2024$8K
FY2024$19K
Net assets
$6.1M
FY2024▲ +0.7%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.3M
FY2021$6.3M
FY2022$6.0M
FY2023$6.0M
FY2024$6.1M
FY2024$6.1M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Exemption reinstated (2010-11-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Apr 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $13K Management & general 35% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Linda Baird
Director
$0Pt VII · Sec A
Brad Ervin
Director
$0Pt VII · Sec A
Mike Obert
Director
$0Pt VII · Sec A
Adam Onan
Director
$0Pt VII · Sec A
Jim Peak
Director
$0Pt VII · Sec A
Jim Ricketts
Director
$0Pt VII · Sec A
Melissa Coker
Sec/Treasure
$0Pt VII · Sec A
Pat Donahue
Chairman
$0Pt VII · Sec A
See Union County Industrial Development Authority INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops and promotes land for industrial and commercial use in Kentucky.

Questions for Union County Industrial Development Authority INC

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Provided by the organization

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1 program · $13K · in their own filed words · FY2024
01

Provide financing to industries and businesses for development of real property in kentucky or expansion of plant facilities for new and expanding industries or commercial businesses in kentucky.

$13Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$64K
Ln 12
Fees for servicesLn 2g$62K
Investment incomeLn 3$2K
Money outPt IX
$19K
Ln 25
Programscol B$13K
Managementcol C$7K
Owns and owesPt X
$6.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$6.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$62K
Investment incomeLn 3$2K
Total revenueLn 12$64K
Assets in detailPt X, end of year
CashLn 1$3.1M
Cash and savings togetherLn 1–2$3.1M
Land, buildings, equipmentLn 10c$442K
Total assetsLn 16$6.1M
LiabilitiesLn 26$0
Net assetsLn 32$6.1M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.1M$3.1M
Land, buildings, equipmentLn 10c$246K$442K
Total assetsLn 16$6.1M$6.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$6.1M$6.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$257$257
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$4K$4K
Office expensesLn 13$60$60
OccupancyLn 16$1K$1K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$2K$2K
Total functional expensesLn 25$19K$13K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $45K$8K$37K$6.1M 990 PDF
FY2023 $41K$6K$35K$6.0M 990 PDF
FY2022 $52K$384K−$332K$6.0M 990 PDF
FY2021 $52K$35K$17K$6.3M 990 PDF
FY2020 $51K$93K−$42K$6.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $63,982 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $42,900$61,611
I-10 Investment incomePrior year $2,307$2,371
I-11 Other revenue$0
I-12 Total revenuePrior year $45,207$63,982
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $8,404$19,473
I-18 Total expensesPrior year $8,404$19,473
I-19 Revenue less expensesPrior year $36,803$44,509
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $63,982 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $61,611$61,611
VIII-3 Investment incomeRelated to mission $2,371$2,371
VIII-12 Total revenueRelated to mission $63,982$63,982
Part IX · Statement of functional expenses $19,473 across 7 lines filed
IX-11b Legal feesManagement $257$257
IX-11c Accounting feesManagement $4,745$4,745
IX-11g Other fees for servicesPrograms $3,685$3,685
IX-13 Office expensesManagement $60$60
IX-16 OccupancyPrograms $1,259$1,259
IX-22 Depreciation, depletion and amortizationPrograms $7,776$7,776
IX-23 InsuranceManagement $1,691$1,691
IX-25 Total functional expensesPrograms $12,720 · Management $6,753 · Fundraising $0$19,473
Part X · Balance sheet $6,107,575 assets, 6 lines filed
Asset lines not itemized here account for $2,540,779; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,130,892$3,124,299
X-10c Land, buildings and equipment, netStart of year $246,275$442,497
X-16 Total assetsStart of year $6,063,066$6,107,575
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $6,063,066$6,107,575
X-33 Total liabilities and net assetsStart of year $6,063,066$6,107,575
Part XI · Reconciliation of net assets $6,107,575 net assets at year end
XI-1 Total revenue$63,982
XI-2 Total expenses$19,473
XI-3 Revenue less expenses$44,509
XI-4 Net assets at start of year$6,063,066
XI-10 Net assets at end of year$6,107,575

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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