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Tri-County Economic Development Charitable Corporation

Tax-deductible

Covington, KY501(c)(3)Community DevelopmentEIN 83-2547630Revenue $168K in FY2025

On file with the IRS209 Greenup St Ste 400, 41011-1756 · Covington, KYTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To provide private-sector leadership and resources to the Tri-County Economic Development Corporation (Tri-ed)

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

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $303K a year · 57% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $362K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$400K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$168K
-34% vs prior year
Spent
$1.1M
To programs
100%
Net assets
$1.3M
By yearFY2023–FY2025
Revenue
$168K
FY2025▼ -34%
Tap a bar for its year
Revenue by fiscal year
FY2023$1.2M
FY2024$255K
FY2025$168K
Expenses
$1.1M
FY2025▲ +38%
Tap a bar for its year
Expenses by fiscal year
FY2023$565K
FY2024$814K
FY2025$1.1M
Net assets
$1.3M
FY2025▼ -43%
Tap a bar for its year
Net assets by fiscal year
FY2023$2.8M
FY2024$2.2M
FY2025$1.3M

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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% · $1.1M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Carey Sanders
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Moore
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Adrian Hothem
Treasurer
$0Pt VII · Sec A
Jim Dressman
Former Chair
$0Pt VII · Sec A
See Tri-County Economic Development Charitable 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Mobilizes private sector leadership and resources to support economic development.

Questions for Tri-County Economic Development Charitable Corporation

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

Support services rendered to the tri-county economic development corportation, which provide boone, campbell, and kenton counties and the municipalities and business interests therein with professional economic development services comprised of: addressing the current and future workforce needs of northern kentucky, indetify and prepare…

$1.1Mprogram expense

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 · FY2024
St Elizabeth Medical Center INCFY2024$200K
The Greater Cincinnati FoundationFY2024$100K
American Online Giving Foundation INCFY2024$50K
Donor Advised Charitable Giving INCFY2024$10K
Robert H and Susan F Castellini FoundationFY2024$2K
Total grants receivedfrom 5 funders$362K
See all 5 funders →
Grants paid · 1 grant · $280K · 2024–2024
Tri-County Economic Development CorporationKY · FY2024$279,750

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$168K
Ln 12
Gifts and grantsLn 1h$129K
Investment incomeLn 3$39K
Money outPt IX
$1.1M
Ln 25
Programscol B$1.1M
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$568K
Total assetsLn 16$1.7M
LiabilitiesLn 26$400K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$129K
Investment incomeLn 3$39K
Total revenueLn 12$168K
Assets in detailPt X, end of year
CashLn 1$568K
Cash and savings togetherLn 1–2$568K
Total assetsLn 16$1.7M
LiabilitiesLn 26$400K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.1M$568K
Total assetsLn 16$2.4M$1.7M
LiabilitiesLn 26$182K$400K
Net assetsLn 32$2.2M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$280K$280K
Pay of current officers, directors and key staffLn 5$257K$257K
Other salaries and wagesLn 7$337K$337K
Pension plan contributionsLn 8$24K$24K
Other employee benefitsLn 9$50K$50K
Payroll taxesLn 10$40K$40K
Other fees for servicesLn 11g$46K$46K
Advertising and promotionLn 12$10K$10K
Conferences, conventions and meetingsLn 19$20K$20K
Other expenses (24a–d)Ln 24$64K$64K
Total functional expensesLn 25$1.1M$1.1M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $168K$1.1M−$960K$1.3M 990 PDF
FY2024 $255K$814K−$560K$2.2M 990 PDF
FY2023 $1.2M$565K$611K$2.8M 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 FY2025 990 (6 parts)
Part I · Summary $168,061 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $211,000$129,174
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $43,784$38,887
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $254,784$168,061
I-13 Grants and similar amounts paidPrior year $0$279,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $650,110$708,048
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $164,253$139,764
I-18 Total expensesPrior year $814,363$1,127,562
I-19 Revenue less expensesPrior year −$559,579−$959,501
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower 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
Part VIII · Statement of revenue $168,061 across 4 lines filed
VIII-1f All other contributions, gifts and grants$129,174
VIII-1h Total contributions, gifts and grants$129,174
VIII-3 Investment incomeRelated to mission $38,887$38,887
VIII-12 Total revenueRelated to mission $38,887 · Unrelated business $0 · Excluded from tax $0$168,061
Part IX · Statement of functional expenses $1,127,562 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $279,750$279,750
IX-5 Pay of current officers, directors and key staffPrograms $257,349$257,349
IX-7 Other salaries and wagesPrograms $336,749$336,749
IX-8 Pension plan contributionsPrograms $24,348$24,348
IX-9 Other employee benefitsPrograms $49,870$49,870
IX-10 Payroll taxesPrograms $39,732$39,732
IX-11g Other fees for servicesPrograms $45,550$45,550
IX-12 Advertising and promotionPrograms $9,715$9,715
IX-19 Conferences, conventions and meetingsPrograms $20,209$20,209
IX-24 Other expenses (24a–d)Programs $64,290$64,290
IX-25 Total functional expensesPrograms $1,127,562 · Management $0 · Fundraising $0$1,127,562
Part X · Balance sheet $1,667,929 assets, 10 lines filed
Asset lines not itemized here account for $350,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,080,363$567,679
X-3 Pledges and grants receivableStart of year $1,334,000$750,250
X-16 Total assetsStart of year $2,414,363$1,667,929
X-17 Accounts payable and accrued expensesStart of year $182,421$289,701
X-19 Deferred revenue$110,500
X-26 Total liabilitiesStart of year $182,421$400,201
X-27 Net assets without donor restrictionsStart of year $87,523$121,693
X-28 Net assets with donor restrictionsStart of year $2,144,419$1,146,035
X-32 Total net assets or fund balancesStart of year $2,231,942$1,267,728
X-33 Total liabilities and net assetsStart of year $2,414,363$1,667,929
Part XI · Reconciliation of net assets $1,267,728 net assets at year end
XI-1 Total revenue$168,061
XI-2 Total expenses$1,127,562
XI-3 Revenue less expenses−$959,501
XI-4 Net assets at start of year$2,231,942
XI-5 Net unrealized gains (losses) on investments−$4,713
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,267,728

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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