Russell Development Company Inc

Nonprofit profile at a glance

EIN
475221522
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5029929436
Rating confidence
Limited
Sector
Public Foundations

Reported finances

Revenue
$0
Expenses
$0
Assets
$7,476
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • KEVIN SMITH (PRESIDENT)
  • WILLIAM MOODY (VICE PRESIDENT)

People named in this filing

  • KEVIN SMITH (PRESIDENT)
  • JULIE DENTON (DIRECTOR)
  • JOHNETTA ROBERTS (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

To revitalize the russell neighborhood of louisville, ky through new home construction and rehabilitation, and expanding local food options by providing food entrepreneurs a kitchen incubator.

What it reported doing in 2024

Chef space is louisvilles first kitchen incubator. This 13,000 square foot facility repurposed the much-loved jays cafeteria, which had been vacant for several years. While many food entrepreneurs begin in a home kitchen, there is often a need for greater space and more suitable amenities as their business grows. This need for low-cost kitchen space led to chef space, which can be rented for hourly or monthly rates. Chef space offers multiple food preparation and processing stations, access to capital, storage space, and training opportunities for its members. Opened november 2015, chef space currently has twenty subscribers, with the capacity for up to fifty entrepreneurs.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 70
  • Sustainability: 8
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 26.6% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: -18.2% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2016 to 2024
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.