2026-02-14T11:22:02-06:00 2025-03-31 351178661 BLUE & CO LLC 250 WEST MAIN STREET SUITE 2900 LEXINGTON KY 40507 990 2024-04-01 611253192 KENTUCKY HIGHLANDS COMMUNITY DEVELOPMENT CORPORATION KENT 6068645175 PO BOX 1738 LONDON KY 407431738 BRENDA MCDANIEL EXECUTIVE VICE PRESIDENT 6068645175 2026-02-10 1 1 JOHN COPELAND P00646957 8592531100 2026-02-10 2024 2025-03-06 01:10:19Z JERRY RICKETT PO BOX 1738 LONDON KY 407431738 11452069 0 X N/A X 1994 KY KHCDC WAS FORMED TO PROMOTE THE TAX-EXEMPT MISSION OF KENTUCKY HIGHLANDS INVESTMENT CORPORATION, A SECTION 501(C)(4) ORGANIZATION. THEIR MISSION IS JOB CREATION AND RETENTION IN A TWENTY-TWO COUNTY ECONOMICALLY DISADVANTAGED AREA OF SOUTHEASTERN KENTUCKY. THIS MISSION IS ACCOMPLISHED THROUGH NON-TRADITIONAL INVESTMENT IN COMPANIES WHICH WILL PROVIDE THESE JOBS. 14 14 0 0 0 0 1193144 11151747 107646 300322 0 0 0 0 1300790 11452069 873884 831918 0 0 0 0 0 0 0 527972 452235 1401856 1284153 -101066 10167916 4125816 14115426 3627985 3426323 497831 10689103 KHCDC PROVIDES FINANCING TO COMPANIES IN ITS SERVICE AREA, WHERE TRADITIONAL FINANCING SOURCES MAY NOT BE READILY AVAILABLE. 0 0 1192203 831918 300322 KHCDC PROMOTES DEVELOPMENT OF AND ASSISTANCE TO LOCAL BUSINESS ENTERPRISES WHICH HAVE THE PROSPECT OF INCREASING THE INCOME OF THE AREA'S RESIDENTS AND EXPANDING THEIR EMPLOYMENT OPPORTUNITIES. AS A SUPPORTING ORGANIZATION, KHCDC ALSO SUPPORTS THE AFFORDABLE HOUSING DEVELOPMENT EFFORTS OF ITS SUPPORTED ORGANIZATION, KENTUCKY HIGHLANDS INVESTMENT CORP INCLUDING PROVIDING AFFORDABLE HOUSING SOLUTIONS WITH PROGRAMS THAT SPECIALIZE IN TURN-KEY HOMES, LOWER-INCOME HOUSING PROGRAMS, MUTUAL SELF-HELP HOUSING PROGRAMS, ELDERLY HOUSING AND SEVERAL ENERGY EFFICIENT AND/OR COMMUNITY DEVELOPMENT PROJECTS. 1192203 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X X BRENDA MCDANIEL 6068645175 P O BOX 1738 LONDON KY 407431738 BILL BERTRAM DIRECTOR 1.00 1.00 X 0 4950 0 SAMUEL BROWN DIRECTOR 1.00 1.00 X 0 4500 0 JANE CARTER DIRECTOR 1.00 1.00 X 0 4500 0 RICHARD FOLEY DIRECTOR 1.00 1.00 X 0 4500 0 CLARENCE BO GREEN DIRECTOR 1.00 1.00 X 0 4050 0 JENNIFER JONES DIRECTOR 1.00 1.00 X 0 2250 0 GREENE L KEITH DIRECTOR 1.00 1.00 X 0 4950 0 LONNIE RILEY DIRECTOR 1.00 1.00 X 0 3600 0 WILLIAM SINGLETON DIRECTOR 1.00 1.00 X 0 13200 0 WILLIAM SMITH DIRECTOR 1.00 1.00 X 0 4050 0 SERENA STRATTON DIRECTOR 1.00 1.00 X 0 3600 0 PAULA LITTLE DIRECTOR 1.00 1.00 X 0 4950 0 AMY ELLIS DIRECTOR 1.00 1.00 X 0 4050 0 OSCAR HOUSE DIRECTOR 1.00 1.00 X 0 4500 0 SHANE GABBARD DIRECTOR 1.00 1.00 X 0 3150 0 JERRY RICKETT PRESIDENT 5.00 40.00 X 0 504125 78903 BRENDA MCDANIEL EXEC. VICE PRESIDENT/CFO 5.00 40.00 X 0 475965 79899 MARK BOLINGER VICE PRESIDENT, BUSINESS L 5.00 40.00 X 0 283920 69735 RUBY ADAMS SECRETARY 5.00 40.00 X 0 66348 35773 EDGAR DAVIS BUSINESS DEVELOPMENT SPECI 1.00 40.00 X 0 176699 53092 RAY MONCRIEF FORMER OFFICER 1.00 40.00 X 0 90000 0 0 1667857 317402 0 0 1 0 0 1117213 10034534 11151747 INTEREST INCOME FROM PROGRAM INVE 523000 300322 300322 300322 11452069 300322 0 0 831918 831918 335624 265143 70481 300 300 7822 6179 1643 80694 63748 16946 5909 4668 1241 3237 2557 680 14078 14078 525 415 110 MISCELLANEOUS 4001 3161 840 FILING FEES 45 36 9 1284153 1192203 91950 0 609639 520966 10191488 97957 25862 63525 54637 682165 427688 268555 254477 3086140 3067996 4125816 14115426 3627985 3426323 3627985 3426323 X 0 0 0 0 497831 10689103 497831 10689103 4125816 14115426 10167916 23356 0 X X 0 1 X 1 1 1 X X 1 KENTUCKY HIGHLANDS INVESTMENT CORPORATION 610673339 10 1 1192203 0 1 1192203 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 3B: THIS ORGANIZATION'S GOVERNING BODY AND MANAGEMENT ARE THE SAME AS ITS SUPPORTED ORGANIZATION, KENTUCKY HIGHLANDS INVESTMENT CORPORATION. DUE TO THEIR LEVEL OF INVOLVEMENT IN BOTH ORGANIZATIONS, THEY ARE CONSTANTLY MONITORING THE SUPPORTED ORGANIZATION'S SOURCES OF SUPPORT TO COMPLY WITH PUBLIC SUPPORT TEST UNDER SECTION 509(A)(2). PART IV, SECTION A, LINE 3C: THIS ORGANIZATION'S GOVERNING BODY AND MANAGEMENT ARE THE SAME AS ITS SUPPORTED ORGANIZATION, KENTUCKY HIGHLANDS INVESTMENT CORPORATION. DUE TO THEIR LEVEL OF INVOLVEMENT IN BOTH ORGANIZATIONS, THEY ARE CONSTANTLY MONITORING THE SUPPORT PROVIDED TO THE SUPPORTED ORGANIZATION IS USED EXCLUSIVELY FOR SECTION 170(C)(2)(B) PURPOSES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 87000 87000 575545 408068 167477 19620 19620 0 254477 INVESTMENTS-DEBT 3067996 F 3067996 INTERCOMPANY PAYABLE 3426323 3426323 1 KENTUCKY HIGHLANDS INVESTMENT CORPORATION PO BOX 1738 LONDON KY 40743 610673339 501(C)(4) SUPPORTED 831918 0 TRANSFER TO SUPPORTED ORGANIZATION X X X X X 0 0 1 0 0 0 1 0 0 JERRY RICKETT PRESIDENT 0 357125 0 122113 0 24887 0 44555 0 34348 0 583028 0 0 BRENDA MCDANIEL EXEC. VICE PRESIDENT/CFO 0 355395 0 112293 0 8277 0 44555 0 35344 0 555864 0 0 MARK BOLINGER VICE PRESIDENT, BUSINESS L 0 224167 0 58117 0 1636 0 34965 0 34770 0 353655 0 0 EDGAR DAVIS BUSINESS DEVELOPMENT SPECI 0 145611 0 29403 0 1685 0 18131 0 34961 0 229791 0 0 PART I, LINE 3 A COMPENSATION COMMITTEE CONSISTING OF BOARD MEMBERS IS APPOINTED BY THE BOARD CHAIRMAN. THE COMMITTEE REVIEWS AND SETS POLICY REGARDING COMPENSATION. IN ADDITION, THE ORGANIZATION PARTICIPATES IN AN ANNUAL COMPDATA SURVEY AND THE SALARIES OF ALL EMPLOYEES REVIEWED FOR COMPARABILITY USING INFORMATION PROVIDED BY COMPDATA AND OTHER SOURCES. ADDITIONALLY, THE COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT AND CEO ALONG WITH THE CFO IN RELATION TO THE STRATEGIC PLAN AND GOALS OF THE ORGANIZATION WHICH IS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THE COMPARABLE SALARIES RELATE TO VENTURE FUND MANAGERS, CFO'S, ETC. ON SEPTEMBER 13, 1989, THE IRS ISSUED A FAVORABLE DETERMINATION OF THE TOTAL COMPENSATION ARRANGEMENT (INCLUDING INCENTIVE COMPENSATION). IN ADDITION, IN 2025 THE ORGANIZATION HIRED A THIRD PARTY COMPENSATION CONSULTANT TO DETERMINE THE REASONABLENESS OF THE COMPENSATION OF THE OFFICERS, EXECUTIVES AND KEY EMPLOYEES. THE CONSULTANTS DETERMINED THE ORGANIZATION'S SALARIES AND BENEFITS WERE REASONABLE AND CONSISTENT WITH IRS GUIDANCE OUTLINED IN IRC 4958. PART I, LINE 6 ON SEPTEMBER 13, 1989, KENTUCKY HIGHLANDS INVESTMENT CORPORATION (THE SUPPORTED ORGANIZATION) RECEIVED A FAVORABLE IRS DETERMINATION REGARDING ITS INCENTIVE COMPENSATION PLAN. THE PLAN PROVIDES FOR TWO BONUS POOLS. ALL EMPLOYEES ARE ELIGIBLE TO BE CHOSEN FOR PARTICIPATION. THE FIRST POOL IS BASED ON THE LESSER OF 20% OF SALARIES OF EMPLOYEES CHOSEN FOR PARTICIPATION OR PROGRAM SERVICE INTEREST INCOME (NET OF EXPENSE) AND PROGRAM SERVICE RENTAL INCOME. THE SECOND POOL IS BASED ON 20% OF REALIZED GAINS ON THE SALE OF PROGRAM SERVICE INVESTMENTS. THE TOTAL BONUS POOL IS ALLOCATED TO THE FOLLOWING GROUPS: GROUP I - EXECUTIVE OFFICERS GROUP II - SENIOR INVESTMENT OFFICERS SELECTED FOR PARTICIPATION BY THE CEO GROUP III - INVESTMENT ANALYSTS SELECTED FOR PARTICIPATION BY THE CEO GROUP IV - ADMINISTRATIVE SUPPORT PERSONNEL SELECTED FOR PARTICIPATION BY THE CEO RAY MONCRIEF FORMER OFFICER 90000 CONSULTING 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO FILING. ANY COMMENTS/QUESTIONS ARE ADDRESSED AND THE RETURN IS FILED AFTER RESOLUTION. FORM 990, PART VI, SECTION B, LINE 12C KHCDC REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE POLICIES IN PLACE. CONFLICTS ARE DISCLOSED AT BOARD OF DIRECTORS MEETINGS AND RECORDED IN THE MINUTES, TO BE FOLLOWED UP AS NEEDED BY THE BOARD CHAIRMAN AND/OR THE PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION COMMITTEE CONSISTING OF BOARD MEMBERS IS APPOINTED BY THE BOARD CHAIRMAN. THE COMMITTEE REVIEWS AND SETS POLICY REGARDING COMPENSATION. IN ADDITION, THE ORGANIZATION PARTICIPATES IN AN ANNUAL COMPDATA SURVEY AND THE SALARIES OF ALL EMPLOYEES REVIEWED FOR COMPARABILITY USING INFORMATION PROVIDED BY COMPDATA AND OTHER SOURCES. ADDITIONALLY, THE COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT AND CEO IN RELATION TO THE STRATEGIC PLAN AND GOALS OF THE ORGANIZATION WHICH IS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THE COMPARABLE SALARIES RELATE TO VENTURE FUND MANAGERS, CFO'S, ETC. ON SEPTEMBER 13, 1989, THE IRS ISSUED A FAVORABLE DETERMINATION OF THE TOTAL COMPENSATION ARRANGEMENT (INCLUDING INCENTIVE COMPENSATION). IN ADDITION, IN 2025 THE ORGANIZATION HIRED A THIRD PARTY COMPENSATION CONSULTANT TO DETERMINE THE REASONABLENESS OF THE COMPENSATION OF THE OFFICERS, EXECUTIVES AND KEY EMPLOYEES. THE CONSULTANTS DETERMINED THE ORGANIZATION'S SALARIES AND BENEFITS WERE REASONABLE AND CONSISTENT WITH IRS GUIDANCE OUTLINED IN IRC 4958. FORM 990, PART VI, SECTION C, LINE 19 KHCDC PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 2C THERE WAS NO CHANGE IN THE PROCESS FROM PRIOR YEARS. KENTUCKY HIGHLANDS INVESTMENT CORP PO BOX 1738 LONDON KY 407431738 610673339 TO PROVIDE AND RETAIN EMPLOYMENT OPPORTUNITIES IN IMPOVERISHED AREAS OF KY KY 501(C)(4) N/A 0 KENTUCKY HIGHLANDS DEVELOPMENT CORPORATION PO BOX 1738 LONDON KY 40743 610988883 ECONOMIC DEVELOPMENT/HOLDING COMPANY KY N/A C 0 KENTUCKY HIGHLANDS MANAGEMENT COMPANY PO BOX 1738 LONDON KY 40743 611160436 MANAGEMENT SERVICES KY N/A C 0 MOUNTAIN VENTURES INC PO BOX 1738 LONDON KY 40743 610951041 VENTURE CAPITAL KY N/A C 0 KENTUCKY HIGHLANDS REAL ESTATE CORP PO BOX 1738 LONDON KY 40743 610899617 REAL ESTATE RENTAL KY N/A C 0 PATRIOT INDUSTRIES INC PO BOX 9091 MONTICELLO KY 426330909 611319181 MANUFACTURING/CUT AND SEW KY KENTUCKY HIGHLANDS INVESTMENT CORP C 82678 2005166 0.65490 0 SUMTER CORPORATION PO BOX 1738 LONDON KY 40743 463642311 MANUFACTURING KY C -102604 360829 0.65000 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 KENTUCKY HIGHLANDS INVESTMENT CORPORATION O 245983 COST REIMBURSEMENT KENTUCKY HIGHLANDS INVESTMENT CORPORATION P 89641 COST REIMBURSEMENT KENTUCKY HIGHLANDS INVESTMENT CORPORATION B 831918 TRANSFER TO SUPPORTED ORG