Urban Community Developers INC FY2020 filing

Tax-deductible

Covington, KY501(c)(3)Community DevelopmentEIN 82-3002447Revenue −$39K in FY2020

On file with the IRS100 E Rivercenter Suite 1100, 41011-5815 · Covington, KYTax-exempt since Apr 2018Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation is organized for the purpose of eliminating blight and revitalizing northern kentucky's Urban core neighborhoods in the cities of covington and newport, through activities including making and facilitating targeted investments in real estate.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$141K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 5
filings with a surplus
Average deficit $20K a year · 14% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$141K
to officers and key staff · 60% of spending
Concern: pay to officers and key staff is 60% of spending; over 30%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$39K
Spent
$237K
To programs
100%
Net assets
$351K
By yearFY2020–FY2024
Revenue
−$39K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020−$39K
FY2021$500K
FY2022$0
FY2023$55K
FY2024$223K
Expenses
$237K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$237K
FY2021$173K
FY2022$178K
FY2023$200K
FY2024$51K
Net assets
$351K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$351K
FY2021$708K
FY2022$529K
FY2023$384K
FY2024$650K

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Apr 2018.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $236K Management & general 0% · $1K

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

6 people listed on the 990; $141K paid to officers and key staff.

Part VII, Section A · reportable compensation
$141,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A

Luke Woerner’s $33K as Vice President (thru June) is at the 17th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Luke Woerner$32,850$144,000$144,000$72,000—
William Sanderson———$37,500$141,000

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.

See Urban Community Developers 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Revitalizing urban neighborhoods through targeted real estate investments.

Provided by the organization

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1 program · $236K · in their own filed words · FY2020
01

The board had hired a PRESIDENT/CHIEF executive officer during 2018. He began working in 2019. Program has purchased land and has started the process of constructing several new homes. The plans for prototype infill development projects is progressing.

$236Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$100K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
−$39K
Ln 12
Money outPt IX
$237K
Ln 25
Programscol B$236K
Managementcol C$1K
Owns and owesPt X
$351K
net assets · Ln 32
Cash and savingsLn 1–2$232K
Total assetsLn 16$366K
LiabilitiesLn 26$15K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gains on assetsLn 7−$39K
Total revenueLn 12−$39K
Assets in detailPt X, end of year
SavingsLn 2$232K
Cash and savings togetherLn 1–2$232K
Land, buildings, equipmentLn 10c$38K
Other assetsLn 15$88K
Total assetsLn 16$366K
LiabilitiesLn 26$15K
Net assetsLn 32$351K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY20End FY20
Cash and savingsLn 1–2$622K$232K
Land, buildings, equipmentLn 10c$27K$38K
Total assetsLn 16$813K$366K
LiabilitiesLn 26$185K$15K
Net assetsLn 32$627K$351K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$172K$172K
Legal feesLn 11b−$5K−$5K
Other fees for servicesLn 11g$46K$46K
Office expensesLn 13$2K$2K
Information technologyLn 14$1K$1K
OccupancyLn 16$1K$1K
TravelLn 17$829$829
Conferences, conventions and meetingsLn 19$930$930
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$217$217
Total functional expensesLn 25$237K$236K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $223K$51K$171K$650K 990 PDF
FY2023 $55K$200K−$146K$384K 990 PDF
FY2022 $0$178K−$178K$529K 990 PDF
FY2021 $500K$173K$327K$708K 990 PDF
FY2020 Viewing −$39K$237K−$276K$351K 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 FY2020 990 (6 parts)
Part I · Summary −$39,346 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $806,400$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $591−$39,346
I-11 Other revenue$0
I-12 Total revenuePrior year $806,991−$39,346
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $166,235$172,000
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $68,613$64,822
I-18 Total expensesPrior year $234,848$236,822
I-19 Revenue less expensesPrior year $572,143−$276,168
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue −$39,346 across 2 lines filed
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$39,346−$39,346
VIII-12 Total revenueExcluded from tax −$39,346−$39,346
Part IX · Statement of functional expenses $236,822 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $172,000$172,000
IX-11b Legal feesPrograms −$5,000−$5,000
IX-11g Other fees for servicesPrograms $46,080$46,080
IX-13 Office expensesPrograms $2,116$2,116
IX-14 Information technologyPrograms $1,312$1,312
IX-16 OccupancyPrograms $1,170$1,170
IX-17 TravelPrograms $829$829
IX-19 Conferences, conventions and meetingsManagement $930$930
IX-22 Depreciation, depletion and amortizationPrograms $4,916$4,916
IX-23 InsurancePrograms $12,252$12,252
IX-24 Other expenses (24a–d)Management $217$217
IX-25 Total functional expensesPrograms $235,675 · Management $1,147 · Fundraising $0$236,822
Part X · Balance sheet $365,862 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $621,967$231,847
X-10c Land, buildings and equipment, netStart of year $27,203$38,256
X-14 Intangible assetsStart of year $12,700$7,784
X-15 Other assetsStart of year $150,918$87,975
X-16 Total assetsStart of year $812,788$365,862
X-17 Accounts payable and accrued expensesStart of year $1,255$615
X-19 Deferred revenue$14,000
X-26 Total liabilitiesStart of year $185,373$14,615
X-32 Total net assets or fund balancesStart of year $627,415$351,247
X-33 Total liabilities and net assetsStart of year $812,788$365,862
Part XI · Reconciliation of net assets $351,247 net assets at year end
XI-1 Total revenue−$39,346
XI-2 Total expenses$236,822
XI-3 Revenue less expenses−$276,168
XI-4 Net assets at start of year$627,415
XI-10 Net assets at end of year$351,247

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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