Blue North Ky Inc

Nonprofit profile at a glance

EIN
870822775
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Covington, KY, USA
Phone
5136580868
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Government and Public Administration

Official website

Reported finances

Revenue
$1,879,446
Expenses
$451,778
Assets
$2,101,702
Liabilities
$142,919

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • DAVE KNOX (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVE KNOX (EXECUTIVE DIRECTOR): $195,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We operate under grants with the commonwealth of Kentucky to provide charitable and educational assistance to entrepreneurs, start ups, and small businesses to create a scalable business.

What it reported doing in 2024

To provide charitable and educational assistance to startups, small businesses, and entrepreneurs.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 72
  • Accountability: 69
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.7%; rating input score 21
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 76%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 4.65; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 43.2%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -4.3% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 45.5% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 87% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 20.7% of revenue deployed · 82.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $372K in reported program spending
  • Leadership: top reported pay $195K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.