2023-11-15T07:27:18-06:00 2022-12-31 800874573 BREEDING HENDERSON & HORD PLLC 1050 MONARCH ST STE 110 LEXINGTON KY 40513 990 2022-01-01 814658111 CV APPALACHIAN CDE INC CVAP 8592310054 1450 N BROADWAY LEXINGTON KY 40505 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 40505 364479 0 X N/A X 2016 KY TO ASSIST COMMUNITY VENTURES CORPORATION IN ENGAGING ECONOMIC DEVELOPMENT BY REVITALIZING COMMUNITIES THAT ARE CHARACTERIZED AS SEVERELY ECONOMICALLY DISTRISSED. 5 5 0 0 0 0 0 90382 516938 274083 0 14 0 0 516938 364479 0 44416 0 0 0 0 0 0 0 133686 91744 133686 136160 383252 228319 2816239 3038636 6950 1027 2809289 3037609 TO ASSIST COMMUNITY VENTURES CORPORATION IN ENGAGING ECONOMIC DEVELOPMENT BY REVITALIZING COMMUNITIES THAT ARE CHARACTERIZED AS SEVERELY ECONOMICALLY DISTRISSED. 0 0 124435 44416 274083 ENGAGING ECONOMIC DEVELOPMENT IN SEVERELY ECONOMICALLY DISTRESSED AREAS THROUGH STRATEGIC INVESTMENTS OF NEW MARKETS TAX CREDITS ALLOCATED FROM THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND. 124435 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 KY X COMMUNITY VENTURES CORPORATION 8592310054 1450 N BROADWAY LEXINGTON KY 40505 KEVIN SMITH PRESIDENT 1.00 40.00 X X 0 239533 68189 REVEREND FRED MITCHELL SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 RAYMOND DANIELS DIRECTOR 1.00 1.00 X 0 0 0 MARILYNN PAYSON DIRECTOR 1.00 1.00 X 0 0 0 LARRY JOHNSON DIRECTOR 1.00 1.00 X 0 0 0 0 239533 68189 0 0 1 0 0 90382 90382 MANAGEMENT FEES 541610 274083 274083 274083 14 14 364479 274083 0 14 44416 44416 4960 4960 11725 11725 151 151 8761 8761 2538 2538 CONTRACT LABOR 38896 38896 CONSULTING FEES 20000 20000 BANK FEES 2683 2683 TRAINING 2030 2030 136160 124435 11725 0 2805804 3028668 4613 2171 1969 5822 5828 2816239 3038636 6950 1027 6950 1027 X 2809289 3037609 2809289 3037609 2816239 3038636 228319 0 X 0 1 X 1 0 X X 1 COMMUNITY VENTURES CORPORATION 311064807 7 1 44416 0 1 44416 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 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. CVA 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 INTERNAL REVENUE CODE. EFFECTIVE MAY 15, 2019, CVA WAS DETERMINED TO BE A PUBLIC CHARITY UNDER SECTION 170(B)(1)(A)(VI) OF THE INTERNAL 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 COMMUNITY VENTURES CORPORATION 1450 N BROADWAY LEXINGTON KY 40505 311064807 501C3 44416 0 FMV FURTHERANCE OF ORGANIZATIONS MISSION 0 0 0 0 0 0 0 0 0 KEVIN SMITH PRESIDENT 0 239533 0 0 0 0 0 0 0 68189 0 307722 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE BOARD CHAIR BEFORE SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CVA'S CONFLICT OF INTEREST POLICY REQUIRES THAT EACH DIRECTOR, PRINCIPAL OFFICER, AND COMMITTEE MEMBER ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON: 1.) HAS RECEIVED A COPY OF THE POLICY, 2.) HAS READ AND UNDERSTANDS THE POLICY, 3.) HAS AGREED TO COMPLY WITH THE POLICY, AND 4.)UNDERSTANDS THAT THE CORPORATION IS CHARITABLE AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PUPROSES. ADDITIONALLY, THE CORPORATION WILL PERFORM PERIODIC REVIEWS OF ARRANGEMENTS THAT MAY GENERATE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 CEO, EXECUTIVE DIRECTOR, AND TOP MANAGEMENT SALARIES WILL BE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. OFFICER AND KEY EMPLOYEE SALARIES WILL BE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. OFFICERS ARE BARRED FROM VOTING AND REVIEWING THEIR OWN OR RELATED PARTY COMPENSATION AGREEMENTS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. 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