Kentucky Industrial Development Council Inc

Analysis

Kentucky Industrial Development Council Inc is a registered charity in United States, based in Frankfort, KY. It received its IRS tax-exemption ruling in December 1989, 37 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kentucky Industrial Development Council Inc reported income of $1.2m and spending of $971k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $152k to $1.2m (+658%), an average of +658% a year. The sharpest change came in the year to December 2023, when income rose by 658%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kentucky Industrial Development Council Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within KY. Charities of a similar size with the same main cause include Koreatown Organizations Association Inc ($1.2m), Sheet Metal Workers Joint Apprenticeship Committee of Reno ($1.2m) and Taala Fund ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. At year end it held assets of $390k against liabilities of $0, net assets of $390k.