Cumberland Valley Housing Corp

Nonprofit profile at a glance

EIN
465767689
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Barbourville, KY, USA
Phone
6065469324
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$104,605
Expenses
$6,600
Assets
$542,792
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • LEIGHANN COREY (CEO)

People named in this filing

  • COREY CHESNUT (DIRECTOR)
  • DAVID FAULKNER (DIRECTOR)
  • DAVID HOWARD (DIRECTOR)

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 corporation is organized exclusively for charitable, religious, educational and scientific purposes. The corporation is being organized for the primary purposes of: (a) providing decent, affordable housing to low and moderate income persons living in the corporation's service area of knox, whitley, and harlan counties; and (b) the conduct of any and all other activities not inconsistent with these purposes. Any provision of the articles of incorporation to the contrary notwithstanding, the corporation shall not carry on any other activities not permitted to be carried on by a corporation exempt from federal income tax under section 501(c)(3) of the internal revenue code of 1986 as amended.

What it reported doing in 2024

Providing decent, affordable housing to low and moderate income persons living in the corporation's service area of knox, whitley, and harlan counties.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 93
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 93.7%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 82.24; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.