City of Pikeville Economic and Indu

Nonprofit profile at a glance

EIN
832346035
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Pikeville, KY, USA
Phone
6064375103
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$136,511
Expenses
$425
Assets
$1,060,648
Liabilities
$131,181

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

Leadership & pay

8 people listed

People named in this filing

  • DONOVAN BLACKBURN (BOARD MEMBER)
  • LYLE BLACKBURN (BOARD MEMBER)
  • TIM CAMPOY (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The city of pikeville economic and industrial development authority corporation (the "authority") is a non-profit corporation created by the city of pikeville pursuant to krs chapter 154. The authority was established in 2017 to aid in the acquisition, retention and development of land for economic, industrial and commercial purposes within the city of pikeville and pike county, Kentucky; to aid in the development and promotion of the industrial sites, parks and subdivisions for accommodation of industrial and commercial needs; to promote and stimulate the acquisition, retention and development of land for industrial and commercial purposes in the city of pikeville and pike county, Kentucky by other local development organizations both public and private.

What it reported doing in 2024

To aid in the acquisition, retention and development of land for economic, industrial and commercial purposes within the city of pikeville and pike county, Kentucky; to aid in the development and promotion of the industrial sites, parks and subdivisions for accommodation of industrial and commercial needs; to promote and stimulate the acquisition, retention and development of land for industrial and commercial purposes in the city of pikeville and pike county, Kentucky by other local development organizations both public and private. In the current year, a grant was received to purchase equipment to lease to a business in the industrial park.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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: 30
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 87
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.5%; rating input score 1
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 99.7%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 2,495.64; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 64.2% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -81.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 10.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 0.5% of revenue deployed · 88.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $375 in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • 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 1/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.