Associated General Contractors FY2022 filing

Not tax-deductible

Frankfort, KY501(c)(6)EIN 61-0263820Revenue $1.1M in FY2022

On file with the IRSagcky.org120 W State St, 40601-3419 · Frankfort, KYTax-exempt since Mar 1954

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Agc serves our commonwealth's construction professionals by promoting the skill, integrity, and responsibility of those who build kentucky.

$220K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2022 · 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 surplus $80K a year · 7% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$220K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$549K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
-18% vs prior year
Spent
$1.1M
To programs
0%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$1.1M
FY2022▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.1M
FY2023$1.2M
FY2024$1.5M
Expenses
$1.1M
FY2022▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$930K
FY2021$1.1M
FY2022$1.1M
FY2023$1.2M
FY2024$1.4M
Net assets
$1.6M
FY2022▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$1.9M
FY2022$1.6M
FY2023$1.8M
FY2024$2.0M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1954.

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

Who runs it and what they're paid

22 people listed on the 990; $220K paid to officers and key staff.

Part VII, Section A · reportable compensation
$220,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Richard Vincent$235,000$220,000$220,000$215,000$190,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Promotes skill, integrity, and responsibility for Kentucky's construction professionals.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Agc serves our commonwealth's construction professionals by promoting the skill, integrity, and responsibility of those who build kentucky.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$16K
Other incomeLn 4–11$8K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$471K
Total assetsLn 16$2.2M
LiabilitiesLn 26$549K
PeoplePt VI, VII
22
listed · VII A
PaidVII A1
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$16K
Other incomeLn 4–11$8K
Gains on assetsLn 7−$13K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$471K
Cash and savings togetherLn 1–2$471K
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$374K
Total assetsLn 16$2.2M
LiabilitiesLn 26$549K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$511K$471K
InvestmentsLn 11–13$1.6M$1.3M
Land, buildings, equipmentLn 10c$388K$374K
Total assetsLn 16$2.5M$2.2M
LiabilitiesLn 26$602K$549K
Net assetsLn 32$1.9M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$231K
Other salaries and wagesLn 7$157K
Pension plan contributionsLn 8$2K
Other employee benefitsLn 9$137K
Payroll taxesLn 10$31K
Management feesLn 11a$16K
Legal feesLn 11b$11K
Accounting feesLn 11c$9K
Investment management feesLn 11f$13K
Other fees for servicesLn 11g$81K
Advertising and promotionLn 12$2K
Office expensesLn 13$16K
Information technologyLn 14$22K
OccupancyLn 16$27K
InterestLn 20$12K
Payments to affiliatesLn 21$135K
Depreciation, depletion and amortizationLn 22$14K
InsuranceLn 23$20K
Other expenses (24a–d)Ln 24$162K
All other expensesLn 24e$32K
Total functional expensesLn 25$1.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.5M$1.4M$76K$2.0M 990 PDF
FY2023 $1.2M$1.2M−$8K$1.8M 990 PDF
FY2022 Viewing $1.1M$1.1M−$43K$1.6M 990 PDF
FY2021 $1.3M$1.1M$221K$1.9M 990 PDF
FY2020 $1.1M$930K$156K$1.7M 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 FY2022 990 (6 parts)
Part I · Summary $1,087,024 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $100,730$0
I-9 Program service revenuePrior year $1,032,560$1,062,260
I-10 Investment incomePrior year $185,594$16,354
I-11 Other revenuePrior year $5,708$8,410
I-12 Total revenuePrior year $1,324,592$1,087,024
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $578,955$558,006
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $524,352$571,782
I-18 Total expensesPrior year $1,103,307$1,129,788
I-19 Revenue less expensesPrior year $221,285−$42,764
Part VI · Governance 22 of 22 board members independent, no flags
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,087,024 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,062,260$1,062,260
VIII-3 Investment incomeExcluded from tax $29,170$29,170
VIII-7 Net gain or loss on sales of assetsRelated to mission −$12,816−$12,816
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,410$8,410
VIII-12 Total revenueRelated to mission $1,057,854 · Excluded from tax $29,170$1,087,024
Part IX · Statement of functional expenses $1,129,788 across 20 lines filed
IX-5 Pay of current officers, directors and key staff$231,305
IX-7 Other salaries and wages$157,271
IX-8 Pension plan contributions$1,602
IX-9 Other employee benefits$136,649
IX-10 Payroll taxes$31,179
IX-11a Management fees$16,200
IX-11b Legal fees$10,789
IX-11c Accounting fees$8,700
IX-11f Investment management fees$13,215
IX-11g Other fees for services$81,429
IX-12 Advertising and promotion$2,400
IX-13 Office expenses$16,044
IX-14 Information technology$21,769
IX-16 Occupancy$26,727
IX-20 Interest$11,561
IX-21 Payments to affiliates$134,830
IX-22 Depreciation, depletion and amortization$13,939
IX-23 Insurance$19,901
IX-24 Other expenses (24a–d)$161,955
IX-24e All other expenses$32,323
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$1,129,788
Part X · Balance sheet $2,168,303 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $510,947$471,453
X-4 Accounts receivableStart of year $18,150$31,430
X-9 Prepaid expenses and deferred chargesStart of year $2,270$225
X-10c Land, buildings and equipment, netStart of year $388,190$374,251
X-11 Publicly traded securitiesStart of year $1,606,588$1,290,944
X-16 Total assetsStart of year $2,526,145$2,168,303
X-17 Accounts payable and accrued expensesStart of year $11,278$36,640
X-19 Deferred revenueStart of year $355,009$288,815
X-24 Unsecured notes and loans payableStart of year $235,573$223,157
X-26 Total liabilitiesStart of year $601,860$548,612
X-27 Net assets without donor restrictionsStart of year $1,924,285$1,619,691
X-32 Total net assets or fund balancesStart of year $1,924,285$1,619,691
X-33 Total liabilities and net assetsStart of year $2,526,145$2,168,303
Part XI · Reconciliation of net assets $1,619,691 net assets at year end
XI-1 Total revenue$1,087,024
XI-2 Total expenses$1,129,788
XI-3 Revenue less expenses−$42,764
XI-4 Net assets at start of year$1,924,285
XI-5 Net unrealized gains (losses) on investments−$261,830
XI-10 Net assets at end of year$1,619,691

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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