Renaissance Covington INC

IRS exemption revoked

Covington, KYUnknown exempt organizationEIN 90-0126762

The organization promotes economic development in the city of covington, kentucky.

80¢ of each $1 spent went to programs.
Run by 24 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $20K a year · 7% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $21
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$178K
-49% vs prior year
Spent
$217K
To programs
80%
Net assets
$0
By yearFY2021–FY2023
Revenue
$178K
FY2023▼ -49%
Revenue by fiscal year
FY2021$310K
FY2022$348K
FY2023$178K
Expenses
$217K
FY2023▼ -48%
Expenses by fiscal year
FY2021$265K
FY2022$416K
FY2023$217K
Net assets
$0
FY2023▼ -100%
Net assets by fiscal year
FY2021$107K
FY2022$39K
FY2023$0

From the FY2023 Form 990 (year ending June 2023) · see the original

IRS revoked this organization's tax-exempt status on November 15, 2012

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2023.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $174K Management & general 15% · $32K Fundraising 5% · $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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

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

NameFY2022FY2021
Nick Wade$50,000$50,000

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 economic development in Covington, Kentucky.

Provided by the organization

This section is blank until Renaissance Covington INC claims this page.

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3 program services account for $174K of program spending, described in the organization's own filed words · FY2022.
01

Community Events, Arts & Culture

Create and operate seasonal farmers market; host the covington night bazaar.

$89Kprogram expense
02

Economic Development & Innovation

Develop neighborhood wifi; retain and attract businesses; improve the business district; facilitate mortar entrepreneur program.

$86Kprogram expense
03

Transform Public Spaces

Develop vibrant and integrative gathering spaces to serve and enhance the community.

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$21
Grants paid · 1 grant · $72K · 2022–2022

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$178K
Ln 12
Gifts and grantsLn 1h$169K
Fees for servicesLn 2g$7K
Other incomeLn 4–11$2K
Money outPt IX
$217K
Ln 25
Programscol B$174K
Managementcol C$32K
Fundraisingcol D$10K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$169K
Fees for servicesLn 2g$7K
Other incomeLn 4–11$2K
Total revenueLn 12$178K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 54
VolunteersI 624
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 FY23End FY23
Cash and savingsLn 1–2$39K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$39K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$39K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$72K$72K
Pay of current officers, directors and key staffLn 5$35K$24K$10K
Other salaries and wagesLn 7$17K$14K$2K
Other employee benefitsLn 9$3K$3K$476
Payroll taxesLn 10$3K$3K$458
Management feesLn 11a$4K$4K
Legal feesLn 11b$3K$2K$2K
Accounting feesLn 11c$5K$2K$2K
Other fees for servicesLn 11g$742$631$111
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$3K$3K$476
Conferences, conventions and meetingsLn 19$3K$1K$2K
InsuranceLn 23$6K$3K$3K
Other expenses (24a–d)Ln 24$51K$46K$5K
All other expensesLn 24e$753$753
Total functional expensesLn 25$217K$174K$32K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $178K$217K−$39K$0 990 PDF
FY2022 $348K$416K−$68K$39K 990 PDF
FY2021 $310K$265K$46K$107K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $177,540 across 5 lines filed
VIII-1f All other contributions, gifts and grants$169,345
VIII-1h Total contributions, gifts and grants$169,345
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,537$6,537
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,658$1,658
VIII-12 Total revenueRelated to mission $8,195 · Unrelated business $0 · Excluded from tax $0$177,540
Part IX · Statement of functional expenses $216,738 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $72,154$72,154
IX-5 Pay of current officers, directors and key staffPrograms $24,368 · Management $10,443$34,811
IX-7 Other salaries and wagesPrograms $14,153 · Management $2,498$16,651
IX-9 Other employee benefitsPrograms $2,697 · Management $476$3,173
IX-10 Payroll taxesPrograms $2,592 · Management $458$3,050
IX-11a Management feesManagement $3,600$3,600
IX-11b Legal feesPrograms $1,659 · Management $1,659$3,318
IX-11c Accounting feesPrograms $2,430 · Management $2,430$4,860
IX-11g Other fees for servicesPrograms $631 · Management $111$742
IX-12 Advertising and promotionFundraising $10,315$10,315
IX-13 Office expensesPrograms $2,700 · Management $476$3,176
IX-19 Conferences, conventions and meetingsPrograms $1,069 · Management $1,986$3,055
IX-23 InsurancePrograms $2,981 · Management $2,981$5,962
IX-24 Other expenses (24a–d)Programs $46,155 · Management $4,963$51,118
IX-24e All other expensesPrograms $753$753
IX-25 Total functional expensesPrograms $174,342 · Management $32,081 · Fundraising $10,315$216,738
Part X · Balance sheet $0 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $39,198$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $39,198$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $39,198$0
X-32 Total net assets or fund balancesStart of year $39,198$0
X-33 Total liabilities and net assetsStart of year $39,198$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$177,540
XI-2 Total expenses$216,738
XI-3 Revenue less expenses−$39,198
XI-4 Net assets at start of year$39,198
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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