Noli CDC Corporation

IRS exemption revoked

Lexington, KYUnknown exempt organizationEIN 46-2090782

The north limestone community development corporation is a non-profit organization working on the livability of the north limestone corridor. We tie our projects to livability through our 3 programming tenants: - affordable housing - economic development- community & cultural initiatives

73¢ of each $1 spent went to programs.
Run by 32 volunteers and 11 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $61K a year · 14% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $22
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$131K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$239K
-62% vs prior year
Spent
$420K
To programs
73%
Net assets
$561K
By yearFY2020–FY2021
Revenue
$239K
FY2021▼ -62%
Revenue by fiscal year
FY2020$625K
FY2021$239K
Expenses
$420K
FY2021▼ -26%
Expenses by fiscal year
FY2020$567K
FY2021$420K
Net assets
$561K
FY2021▼ -24%
Net assets by fiscal year
FY2020$742K
FY2021$561K

From the FY2021 Form 990 · see the original

IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $307K Management & general 25% · $103K Fundraising 2% · $10K

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
1st District Council Membe
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Noli CDC Corporation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Improves livability through affordable housing, economic development, and community initiatives.

Provided by the organization

This section is blank until Noli CDC Corporation claims this page.

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3 program services account for $307K of program spending, described in the organization's own filed words · FY2021.
01

Luigart Makers Spaces

The luigart makers spaces is an affordable homeownership program that will rehabilitate the north limestone neighborhood's historic workforce housing, and prepare residents for homeownership through financial literacy and equity programs.

$307Kprogram expense
02

North Limestone Cultural Plan

The north limestone cultural plan is a planning process that will engage the residents of our neighborhood to identify public space needs and visions, barriers to arts and cultural access, and guide the direction of cultural and community development in our neighborhood.

Pt IX · col B
03

Night Market

The night market is a monthly pop-up street festival that is a platform for neighborhood businesses; the market highlights our neighborhood's creativity and brings people together from all over lexington.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$22
Grants paid · 1 grant · $54K · 2021–2021
Black Soil KYFY2021$54,500

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$239K
Ln 12
Gifts and grantsLn 1h$195K
Other incomeLn 4–11$36K
Investment incomeLn 3$7K
Money outPt IX
$420K
Ln 25
Programscol B$307K
Managementcol C$103K
Fundraisingcol D$10K
Owns and owesPt X
$561K
net assets · Ln 32
Cash and savingsLn 1–2$95K
Total assetsLn 16$692K
LiabilitiesLn 26$131K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Investment incomeLn 3$7K
Other incomeLn 4–11$36K
Gains on assetsLn 7$7K
Total revenueLn 12$239K
Assets in detailPt X, end of year
CashLn 1$95K
Cash and savings togetherLn 1–2$95K
Land, buildings, equipmentLn 10c$177K
Other assetsLn 15$420K
Total assetsLn 16$692K
LiabilitiesLn 26$131K
Net assetsLn 32$561K
OperationsPt I, VI
EmployeesI 511
VolunteersI 632
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$442K$95K
Land, buildings, equipmentLn 10c$208K$177K
Total assetsLn 16$883K$692K
LiabilitiesLn 26$141K$131K
Net assetsLn 32$742K$561K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$54K$54K
Other salaries and wagesLn 7$174K$148K$17K$9K
Other employee benefitsLn 9$8K$7K$801$400
Payroll taxesLn 10$13K$11K$1K$666
Legal feesLn 11b$7K$7K
Advertising and promotionLn 12$24K$24K
Office expensesLn 13$13K$4K$10K
Information technologyLn 14$1K$512$512
OccupancyLn 16$28K$7K$21K
TravelLn 17$723$723
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$8K$4K$4K
Other expenses (24a–d)Ln 24$73K$39K$34K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$420K$307K$103K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $239K$420K−$181K$561K 990 PDF
FY2020 $625K$567K$58K$742K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $238,745 across 7 lines filed
VIII-1f All other contributions, gifts and grants$195,490
VIII-1h Total contributions, gifts and grants$195,490
VIII-3 Investment incomeExcluded from tax $181$181
VIII-6 Net rental income or lossRelated to mission −$3,468−$3,468
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,142$7,142
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $39,400$39,400
VIII-12 Total revenueRelated to mission $35,932 · Unrelated business $0 · Excluded from tax $7,323$238,745
Part IX · Statement of functional expenses $419,705 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $54,500$54,500
IX-7 Other salaries and wagesPrograms $147,959 · Management $17,407 · Fundraising $8,703$174,069
IX-9 Other employee benefitsPrograms $6,800 · Management $801 · Fundraising $400$8,001
IX-10 Payroll taxesPrograms $11,318 · Management $1,332 · Fundraising $666$13,316
IX-11b Legal feesManagement $6,825$6,825
IX-12 Advertising and promotionPrograms $23,553$23,553
IX-13 Office expensesPrograms $3,546 · Management $9,800$13,346
IX-14 Information technologyPrograms $512 · Management $512$1,024
IX-16 OccupancyPrograms $6,529 · Management $21,402$27,931
IX-17 TravelManagement $723$723
IX-20 InterestPrograms $6,313$6,313
IX-22 Depreciation, depletion and amortizationManagement $5,712$5,712
IX-23 InsurancePrograms $4,034 · Management $4,034$8,068
IX-24 Other expenses (24a–d)Programs $39,012 · Management $34,335$73,347
IX-24e All other expensesPrograms $2,977$2,977
IX-25 Total functional expensesPrograms $307,053 · Management $102,883 · Fundraising $9,769$419,705
Part X · Balance sheet $691,968 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $442,152$95,348
X-10c Land, buildings and equipment, netStart of year $208,423$176,712
X-15 Other assetsStart of year $232,705$419,908
X-16 Total assetsStart of year $883,280$691,968
X-25 Other liabilitiesStart of year $6,537$0
X-26 Total liabilitiesStart of year $141,367$131,015
X-27 Net assets without donor restrictionsStart of year $741,913$560,953
X-32 Total net assets or fund balancesStart of year $741,913$560,953
X-33 Total liabilities and net assetsStart of year $883,280$691,968
Part XI · Reconciliation of net assets $560,953 net assets at year end
XI-1 Total revenue$238,745
XI-2 Total expenses$419,705
XI-3 Revenue less expenses−$180,960
XI-4 Net assets at start of year$741,913
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$560,953

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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