2023-11-15T07:27:19-06:00 2022-12-31 800874573 BREEDING HENDERSON & HORD PLLC 1050 MONARCH ST STE 110 LEXINGTON KY 40513 990 2022-01-01 311064807 COMMUNITY VENTURES CORPORATION COMM 8592310054 1450 N BROADWAY LEXINGTON KY 405053162 KEVIN SMITH PRESIDENT 8592310054 2023-11-08 1 KEVIN SMITH 999009999 0 CHARLES W HORD II P00839909 8592780112 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEVIN SMITH 1450 N BROADWAY LEXINGTON KY 405053162 14297976 0 X WWW.CVKY.ORG X 1982 KY COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION. 17 17 65 0 0 0 7923062 7944420 6386708 5707347 -64091 203225 3500 156677 14249179 14011669 454346 1004440 0 0 5357852 5409225 0 0 461504 6222508 6871683 12034706 13285348 2214473 726321 84057573 86787851 50410869 52565529 33646704 34222322 X COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION. 0 0 3340437 3289157 PROVIDING LENDING ASSISTANCE TO LOW-INCOME INDIVIDUALS SEEKING FIRST TIME HOME OWNERSHIP AND LOW INCOME BUSINESS OWNERS. ADVANTAGES OF CVC'S LENDING PROGRAMS OVER CONVENTIONAL FINANCING INCLUDE: LOW DOWN PAYMENTS, FIXED INTEREST RATES, LONG TERMS, LOW INTEREST RATES, AND THE ABILITY FOR LOAN FEES TO BE FINANCED IN THE LOAN. EXAMPLES OF PROGRAMS OPERATED TO FACILITATE LENDING ASSISTANCE ARE; 1) DEPARTMENT OF TREASURY (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUNDS) - PROVIDES ASSISTANCE TO STRENGTHEN AND EXPAND COMMUNITY DEVELOPMENT TO LOW-INCOME INDIVIDUALS 2) THE COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO") - REPRESENTS FUNDS PROVIDED BY A COMMUNITY-BASED SERVICE ORGANIZATION THAT HAS SIGNIFICANT CAPACITY TO DEVELOP AFFORDABLE HOUSING FOR THE COMMUNITY IT SERVES. 2611228 1000000 150384 COMMUNITY DEVELOPMENT AND ASSISTANCE IN THE ACQUISITION AND SUBSTANTIAL REHABILITATION OF SINGLE-FAMILY HOMES FOR FIRST-TIME BUYERS. CVC HAS A LONGSTANDING COMMITMENT TO KENTUCKY'S NEIGHBORHOODS AND THE ORGANIZATION IS CONSTANTLY EXPLORING OPPORTUNITIES TO ADDRESS THE COMPLEX CHALLENGES FACED BY KENTUCKY'S COMMUNITIES. CVC ADDRESSES THE CHALLENGES THROUGH DEVELOPING PROJECTS IN UNDERSERVED AREAS, CONSTRUCTING SINGLE-FAMILY HOMES FOR FIRST- TIME HOME BUYERS, AND ASSISTING IN FINANCING AND SUPPORTING PROJECTS IN RURAL AREAS. 3223252 4440 2212013 CVC ASSISTS FAMILIES ACCOMPOLISH THEIR DREAMS OF PURCHASING HOMES, REDUCING DEBT, AND INCREASING FINANCIAL LITERACY THROUGH THEIR EHOME AMERICA PLATFORM. EHOME AMERICA IS AN ONLINE FINANCIAL EDUCATION PLATFORM THAT OFFERS AFFORDABLE FINANCIAL EDUCATION TO CUSTOMERS ACROSS THE GLOBE. THE COURSES ARE OFFERED ON DEMAND AT THE CUSTOMERS CONVENIENCE. THE PLATFORM OFFERS EDUCTION IN THE FOLLOWING AREAS: 1) HOMEBUYER EDUCATION - COMPREHENSIVE 8 HOUR ONLINE HOMEBUYER COURSE THAT IS OFFERED IN ENGLISH AND SPANSISH AND SANCTIONED BY HUD AND USDA 2.) MONEY MANAGEMENT - A 2-3 HOUR COURSE WITH A PROFESSIONAL PARTNER TO ASSIST CUSTOMERS IN TAKING CONTROL OF THEIR FINANACES AND GENERATING PEACE OF MIND FOR THEIR FINANCIAL FUTURES 3.) FORECOLSURE PREVENTION - COURSE IS DESIGNED TO ASSIST CUSTOMERS NAVIGATE THE CHALLENGES OF THE FORECLOSURE PROCESS AND STEPS THAT CAN BE TAKEN TO AVOID THE LOSS OF THEIR HOME. 1699118 362854 OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS. 1699118 362854 10874035 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 178 0 65 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 KY X X COMMUNITY VENTURES COPORATION 8592310054 1450 NORTH BROADWAY LEXINGTON KY 40505 JOHN WATZ CHAIRMAN 1.00 1.00 X X 0 0 0 REVEREND FRED MITCHELL SECRETARY 1.00 1.00 X X 0 0 0 ROBERT HENRY DIRECTOR 1.00 X 0 0 0 ARTHUR SALOMON DIRECTOR 1.00 X 0 0 0 LARRY JOHNSON DIRECTOR 1.00 1.00 X 0 0 0 JERRY JOHNSTON DIRECTOR 1.00 X 0 0 0 JOJUANA LEAVELL-GREENE VICE CHAIRWOMAN 1.00 X X 0 0 0 JOHN DOUGLAS DIRECTOR 1.00 X 0 0 0 JEFF KOONCE DIRECTOR 1.00 X 0 0 0 RAYMOND DANIELS DIRECTOR 1.00 X 0 0 0 CHARLES DUKE DIRECTOR 1.00 X 0 0 0 DEBORAH WILLIAMS DIRECTOR 1.00 X 0 0 0 ARTIE FORD DIRECTOR 1.00 X 0 0 0 LORRAIN SMOOT DIRECTOR 1.00 X 0 0 0 KEVIN SMITH PRESIDENT & CEO 40.00 1.00 X 239533 0 68189 MILTON SHARP PRESIDENT - EHOME 40.00 X 153307 0 0 MARK JOHNSON PRESIDENT OF ART INC 40.00 X 54882 0 100 WILEY FAW CHIEF OPERATING OFFI 40.00 X 132333 0 241 BRENDA WEAVER PRESIDENT HOUSING 40.00 X 165723 0 3428 DANIEL HEFFERNAN PRESIDENT NMTC 40.00 X 112341 0 9936 MICHAEL BERRYMAN VP E HOME 40.00 X 115004 0 42 OTIS SINGLETON DIRECTOR OF FINANCE 40.00 X 97865 0 1476 JONAH BROWN PRESIDENT MARKETING 40.00 X 97841 0 490 ROBERT BURNS PRES MSTRD SEED HILL 40.00 X 75709 0 9079 BRIAN HUTCHINSON CHIEF DEV. OFFICER 40.00 X 123690 0 1567 SHANE DARRISAW PRESIDENT MPACT PRO 40.00 X 122864 0 0 THOMAS MURRO PRESIDENT CHEF SPACE 40.00 X 92515 0 1123 SHIRIE HAWKINS PRES EVERYTHING EQUITY 40.00 X 131227 0 3246 MARITA WILLIS PRES. COMMUNITY ENGAGEMENT 40.00 X 108634 0 2132 PHILLIP CAVE CONTROLLER 40.00 X 105527 0 2407 LYNN LITTREL SENIOR VP COMMERIAL LENDING 40.00 X 101843 0 3173 2030838 0 106629 12 0 1 0 SELECT HOMES LLC 143 W MARKET ST LOUISVILLE KY 40202 CONSTRUCTION 443206 GRC CONSTRUCTION 400 CLINCHFIELD STREET KINGSPORT TN 37660 CONSTRUCTION 195114 MITCHELL CONSTRUCTION MANAGEMENT 1411 BRYAN AVE LEXINGTON KY 40505 CONSTRUCTION 148740 COLLEGE HILL CAPITAL 177 HUNTINGTON AVE BOSTON MA 02115 CONSULTING 131100 LEXINGTONS REAL ESTATE CO 333 W VINE ST 300 LEXINGTON KY 40507 PROJECT MGMT 105168 5 157363 7615391 171666 7944420 FEES 561439 3328260 3328260 INTEREST INCOME ON LOANS 522291 1795445 1795445 504 FEE INCOME 522291 377465 377465 PROGRAM INCOME 561439 153948 153948 BAD DEBT RECOVER 522291 52229 52229 5707347 52841 52841 156677 0 156677 156677 156677 436691 286307 150384 150384 150384 14011669 6014408 0 52841 1000000 1000000 4440 4440 2030838 1398672 539216 92950 2021677 1392362 536783 92532 330326 227501 87706 15119 717103 516747 172527 27829 309281 213007 82118 14156 90931 89361 1560 10 63213 9208 54005 170734 130200 39809 725 4593 515 4036 42 338069 313444 24625 94595 79736 7945 6914 27840 8610 16713 2517 1242086 1235012 7074 1049837 1046126 3711 187085 142464 44621 CONTRACT LABOR 1182047 998385 183662 CONSULTING 479913 266348 17327 196238 FEES 458114 445210 12874 30 BUILDING MAINTENANCE 415330 415330 1067296 941357 113497 12442 13285348 10874035 1949809 461504 9425280 12025561 2965299 4077846 49170364 48107285 43437 35948 29203973 6795820 22317972 22408153 135221 133058 84057573 86787851 1385430 514332 2500000 46191170 46425154 2834269 3126043 50410869 52565529 X 21340072 19813141 12306632 14409181 33646704 34222322 84057573 86787851 726321 -150703 0 X 0 1 X 1 1 1 X 4026884 4346713 4998602 7923062 7944420 29239681 4026884 4346713 4998602 7923062 7944420 29239681 29239681 627810 134437 32011 43344 52841 890443 30130124 14486264 0.97040 0.94820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 47530 47530 0 PART II-B, LINE 1: THE ORGANIZATION USED CONTRACTORS TO MAKE CONTACTS, VISITS AND OTHERWISE REPRESENT THE ORGANIZATION TO GOVERNMENTAL AGENCIES, ELECTED OFFICALS AND OTHERS ON LOCAL, STATE AND FEDERAL LEVELS AS REQUIRED. THE CONTRACTOR PROVIDED SERVICES INCLUDING ADVOCATING FOR THE ORGANIZATION AND THE ORGANIZATION'S INTEREST, AS THE ORGANIZATION DIRECTS, EDUCATING GOVERNMENTAL AGENCIES AND ELECTED OFFICALS ABOUT THE EXPERTISE, ACCOMPLISHMENTS, RESEARCH PROJECTS AND OTHER NEEDS AS IDENTIFIED BY THE ORGANIZATION. 1207816 1207816 23513545 4662953 18850592 4482612 2132867 2349745 22408153 IMPOUND LIABILITY 12314 REFUNDABLE ADVANCE 2431659 OTHER LIABILITIES 682070 3126043 X PART X, LINE 2: CVC IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CVC AS A NONPROFIT ORGANIZATION IS SUBJECT TO TAXES ON GROSS UNRELATED BUSINESS INCOME LESS EXPENSES DIRECTLY CONNECTED TO THIS INCOME, SUBJECT TO A $1,000 EXEMPTION. CVC HAS NO MATERIAL SOURCES OF NET UNRELATED BUSINESS INCOME. CVP, CRP, CFC I, CHEF SPACE LLC, CV MIDLAND COMPANIES, MPACT PRO LLC, THE MET FUNDING, LLC, AND MUSTARD SEED DEVELOPMENT COMPANY, LLC, ARE SINGLE-MEMBER LIMITED LIABILITY COMPANIES AND DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES. AS A DISREGARDED ENTITY, NO SEPARATE INCOME TAX FILINGS WERE REQUIRED, AND THE INCOME AND EXPENSES ARE INCLUDED IN THE INCOME TAX RETURNS OF CVC. EFFECTIVE NOVEMBER 13, 2018, THE MET DEVELOPMENT, LNC. WAS DETERMINED TO BE A TYPE II SUPPORTING ORGANIZATION AND PUBLIC CHARITY UNDER SECTION 509(A)(3) OF THE LNTERNAL REVENUE CODE. EFFECTIVE MAY 15, 2019, CVA WAS DETERMINED TO BE A PUBLIC CHARITY UNDER SECTION 170(B)(1)(A)(VI) OF THE LNTERNAL REVENUE CODE. THE FASB ASC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR HOW AN ENTITY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE ENTITY HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THE FASB ASC REQUIRES THAT THE FINANCIAL STATEMENTS REFLECT EXPECTED FUTURE TAX CONSEQUENCES OF SUCH POSITIONS PRESUMING THE TAXING AUTHORITIES' FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS, BUT WITHOUT CONSIDERING TIME VALUES. CVC IS SUBJECT TO ROUTINE AUDITS BY TAXING AUTHORITIES, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. UNDER FEDERAL TAX STATUTES OF LIMITATIONS, CVC BELIEVES IT IS NO LONGER SUBJECT TO FEDERAL INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO DECEMBER 31, 2019. 0 WEST END OPPORTUNITY PARTNERSHIP 1701 W MUHAMMAD ALI BLVD LOUISVILLE KY 40203 881662505 501C3 1000000 0 FMV CASH FUTHERANCE OF ORGANIZATION MISSION TO SUPPORT ECONOMICALLY DISTRISSED AREAS OF LOUISVILLE KY. HOME BUYER ASSISTANCE 10 4440 FMV 0 0 0 0 0 0 0 0 0 KEVIN SMITH PRESIDENT & CEO 239533 0 0 0 0 0 0 0 68189 0 307722 0 0 0 BRENDA WEAVER PRESIDENT HOUSING 165723 0 0 0 0 0 0 0 3428 0 169151 0 0 0 MILTON SHARP PRESIDENT - EHOME 153307 0 0 0 0 0 0 0 0 0 153307 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B COPIES OF A DRAFT 990 IS DISTRIBUTED TO THE MANAGEMENT TEAM OF THE ORGANIZATION AND APPROVAL BEFORE FILING THE FINAL RETURN. FORM 990, PART VI, SECTION B, LINE 12C CVC'S CONFLICT OF INTEREST POLICY IS OUTLINED IN ITS EMPLOYEE MANUAL AND ITS NEW BOARD MEMBER PACKAGE. EACH EMPLOYEE AND BOARD MEMBER IS PROVIDED A COPY OF THESE DOCUMENTS. THERE AFTER, EMPLOYEES AND BOARD MEMBERS ARE ENCOURAGED TO REPORT ANY POTENTIAL CONFLICTS THAT THEY MAY BE INVOLVED INOR THAT THEY MAY BECOME AWARE OF OTHER EMPLOYEES AND/OR BOARD MEMBERS FORM 990, PART VI, SECTION B, LINE 15 ALL COMPENSATION OF OFFICERS, DIRECTORS AND KEY EMPLOYEES IS APPROVED BY THE BOARD OR COMPENSATION COMMITTEE. ALL COMPENSATION OF OFFICERS, DIRECTORS AND KEY EMPLOYEES IS APPROVED BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY & FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. COMMUNITY VENTURES PROPERTIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 205597341 COMM DEV KY CVC COMMUNITY REINVESTMENT PROPERTIES 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC CVC FUNDING COMPANY I LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC CHEF SPACE LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC CV MIDLAND COMPANIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC MPACT PRO LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC CV APPALACHIAN CDE INC 1450 N BROADWAY LEXINGTON KY 40505 814658111 COMM DEV KY 501(C)(3) LINE 7 0 THE MET DEVELOPMENT INC 1450 N BROADWAY LEXINGTON KY 40505 832503851 COMM DEV KY 501(C)(3) LINE 12B, II 0 COMMUNITY VENTURES INVESTMENT XX 1450 NORTH BROADWAY LEXINGTON KY 40505 471527292 COMM DEVEL KY 4 436 0 1 0.00010 COMMUNITY VENTURES INVESTMENT XVIII 1450 NORTH BROADWAY LEXINGTON KY 40505 471505692 COMM DEVEL KY 2 0 1 0.00010 COMMUNITY VENTURES INVESTMENT XVII 1450 NORTH BROADWAY LEXINGTON KY 40505 471492788 COMM DEVEL KY 1 0 1 0.00010 COMMUNITY VENTURES INVESTMENT XVI 1450 NORTH BROADWAY LEXINGTON KY 40505 471487844 COMM DEVEL KY 3 0 1 0.00010 COMMUNITY VENTURES INVESTMENT XIX 1450 NORTH BROADWAY LEXINGTON KY 40505 471516145 COMM DEVEL KY 2 816 0 1 0.00010 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 COMMUNITY VENTURES INVESTMENT XVI L 12070 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVII L 10332 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVIII L 29863 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIX L 47476 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XX L 25465 CONTRACTUAL AGREEMENT THE MET DEVELOPMENT INC B 112947 CASH VALUE CV APPALACHIAN CDE INC B 44416 CASH VALUE