2024-11-15T11:37:43-06:00 2023-12-31 800874573 BREEDING HENDERSON & HORD PLLC 1050 MONARCH ST STE 110 LEXINGTON KY 40513 990 2023-01-01 311064807 COMMUNITY VENTURES CORPORATION COMM 8592310054 1450 N BROADWAY LEXINGTON KY 405053162 KEVIN SMITH PRESIDENT 8592310054 2024-11-13 1 0 CHARLES W HORD II P00839909 8592780112 2024-11-13 2023 2024-10-15 13:58:12Z KEVIN SMITH 1450 N BROADWAY LEXINGTON KY 405053162 22172764 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 7944420 10705415 5707347 6585297 203225 1849009 156677 3033043 14011669 22172764 1004440 2509060 0 0 5409225 5571182 0 0 556620 6871683 13004225 13285348 21084467 726321 1088297 86787851 86001950 52565529 49679558 34222322 36322392 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 9469341 2131425 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. 3963117 2509060 1901775 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. 3705603 2552097 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. 1459863 OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS. 1459863 18597924 1 1 0 0 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 1 0 0 0 1 1 0 0 0 1 205 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 JEFF KOONCE DIRECTOR 1.00 X 0 0 0 DEBORAH WILLIAMS DIRECTOR 1.00 X 0 0 0 CHARLES DUKE DIRECTOR 1.00 X 0 0 0 RAYMOND DANIELS DIRECTOR 1.00 X 0 0 0 LORRAIN SMOOT DIRECTOR 1.00 X 0 0 0 JOHN DOUGLAS DIRECTOR 1.00 X 0 0 0 ARTIE FORD DIRECTOR 1.00 X 0 0 0 JERRY JOHNSTON DIRECTOR 1.00 X 0 0 0 LARRY JOHNSON DIRECTOR 1.00 1.00 X 0 0 0 ARTHUR SALOMON DIRECTOR 1.00 X 0 0 0 ROBERT HENRY DIRECTOR 1.00 X 0 0 0 JOHN WATZ CHAIRMAN 1.00 1.00 X X 0 0 0 JOJUANA LEAVELL-GREENE VICE CHAIRWOMAN 1.00 X X 0 0 0 REVEREND FRED MITCHELL SECRETARY 1.00 1.00 X X 0 0 0 BRIAN HUTCHINSON CHIEF DEV. OFFICER 40.00 X 126200 0 37860 ROBERT BURNS PRES MSTRD SEED HILL 40.00 X 85409 0 29893 OTIS SINGLETON DIRECTOR OF FINANCE 40.00 X 106480 0 37268 THOMAS MURRO PRESIDENT CHEF SPACE 40.00 X 102200 0 35770 SHANE DARRISAW PRESIDENT MPACT PRO 40.00 X 135000 0 60750 BRENDA WEAVER PRESIDENT HOUSING 40.00 X 163651 0 49095 DANIEL HEFFERNAN PRESIDENT NMTC 40.00 X 134921 0 47222 SHIRIE HAWKINS PRES EVERYTHING EQUITY 40.00 X 130000 0 4810 WILEY FAW CHIEF OPERATING OFFI 40.00 X 131300 0 60040 MARK JOHNSON PRESIDENT OF ART INC 40.00 X 70253 0 24589 MILTON SHARP PRESIDENT - EHOME 40.00 X 151500 0 46965 KEVIN SMITH PRESIDENT & CEO 40.00 1.00 X 244617 0 88062 MICHAEL BERRYMAN VP E HOME 40.00 X 119650 0 41878 MARITA WILLIS PRES. COMMUNITY ENGAGEMENT 40.00 X 117200 0 41020 PHILLIP CAVE CONTROLLER 40.00 X 106947 0 37431 LYNN LITTREL SENIOR VP COMMERIAL LENDIN 40.00 X 105774 0 37021 2031102 0 679674 14 0 1 0 GRC CONSTRUCTION 400 CLINCHFIELD STREET KINGSPORT TN 37660 CONSTRUCTION 243063 POLECAT CONSTRUCTION 7336 POLECAT PIKE MAYSVILLE KY 41056 CONSTRUCTION 203068 PAUL DAVIS RESTORATION OF LEXINGTON 2050 CREATIVE DR 130 LEXINGTON KY 40505 CONSTRUCTION 188235 ANN CHANEY 1535 TATUM RIDGE ROAD WILLISBURG KY 40078 GRANT WRITING 131939 LEXINGTONS REAL ESTATE CO 333 W VINE ST 300 LEXINGTON KY 40507 PROJECT MGMT 110750 5 8367083 2338332 2000057 10705415 FEES 561439 4062317 4062317 INTEREST INCOME ON LOANS 522291 1840177 1840177 504 FEE INCOME 522291 388129 388129 PROGRAM INCOME 561439 238448 238448 BAD DEBT RECOVERY 522291 32420 32420 23806 23806 6585297 328568 328568 350011 0 350011 350011 350011 1520441 0 1520441 1520441 1520441 LOANS FORGIVEN 522291 2683032 2683032 2683032 22172764 11138781 0 328568 2500000 2500000 9060 9060 2031102 1347433 583942 99727 2131962 1414158 612897 104907 1408118 979052 361382 67684 135326 127683 7643 74806 43700 31106 158506 128811 29681 14 360340 359738 602 147059 126509 16060 4490 40727 16688 17943 6096 1246366 1242791 3575 840821 840821 204423 181899 22524 FORGIVABLE LOANS 5945665 5945665 CONTRACT LABOR 1318085 1167528 150557 BAD DEBT 691774 691774 CONSULTING 476226 210056 5158 261012 1364101 1264558 86853 12690 21084467 18597924 1929923 556620 12025561 11485216 4077846 2022492 48107285 47446694 35948 61850 31770161 6916713 22408153 24853448 133058 132250 86787851 86001950 514332 718582 2500000 46425154 42374464 3126043 6586512 52565529 49679558 X 19813141 22127642 14409181 14194750 34222322 36322392 86787851 86001950 X 1088297 102774 908999 X 0 1 X 1 1 1 X 4346713 4998602 7923062 7944420 10705415 35918212 4346713 4998602 7923062 7944420 10705415 35918212 35918212 134437 32011 43344 52841 328568 591201 36509413 8240235 0.98380 0.97040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1083587 1083587 27266786 5419692 21847094 3419788 1497021 1922767 24853448 REFUNDABLE ADVANCE 5672783 OTHER LIABILITIES 913729 6586512 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 INTERNAL 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, 2020. 0 WEST END OPPORTUNITY PARTNERSHIP 1701 W MUHAMMAD ALI BLVD LOUISVILLE KY 40203 881662505 501C3 2500000 0 FMV CASH FUTHERANCE OF ORGANIZATION MISSION TO SUPPORT ECONOMICALLY DISTRISSED AREAS OF LOUISVILLE KY. HOME BUYER ASSISTANCE 20 9060 FMV 0 0 0 0 0 0 0 0 0 KEVIN SMITH PRESIDENT & CEO 244617 0 0 0 0 0 0 0 88062 0 332679 0 0 0 BRENDA WEAVER PRESIDENT HOUSING 163651 0 0 0 0 0 0 0 49095 0 212746 0 0 0 MILTON SHARP PRESIDENT - EHOME 151500 0 0 0 0 0 0 0 46965 0 198465 0 0 0 SHANE DARRISAW PRESIDENT MPACT PRO 135000 0 0 0 0 0 0 0 60750 0 195750 0 0 0 WILEY FAW CHIEF OPERATING OFFI 131300 0 0 0 0 0 0 0 60040 0 191340 0 0 0 DANIEL HEFFERNAN PRESIDENT NMTC 134921 0 0 0 0 0 0 0 47222 0 182143 0 0 0 BRIAN HUTCHINSON CHIEF DEV. OFFICER 126200 0 0 0 0 0 0 0 37860 0 164060 0 0 0 MICHAEL BERRYMAN VP E HOME 119650 0 0 0 0 0 0 0 41878 0 161528 0 0 0 MARITA WILLIS PRES. COMMUNITY ENGAGEMENT 117200 0 0 0 0 0 0 0 41020 0 158220 0 0 0 X 1 2000057 DONEE BOOK VALUE 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 IN OR 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. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT ADJUSTMENT FOR ADOPTION OF GAAP CHANGES 908,999. 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 4 440 0 1 0.00010 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 COMMUNITY VENTURES INVESTMENT XX L 30000 CONTRACTUAL AGREEMENT THE MET DEVELOPMENT INC C 113844 CASH VALUE CV APPALACHIAN CDE INC L 128107 CASH VALUE THE MET DEVELOPMENT INC K 683500 CONTRACTUAL AGREEMENT