Nonprofit · EIN 31-1027582
GRAVES COUNTY ECONOMIC DEVELOPMENT INC
Tax-exempt · MAYFIELD, KY 42066
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $414,027 | $515,413 | -$101,386 | $6,146,575 | $1,280,031 | $4,866,544 |
| June 30, 2024 | 990 | $596,276 | $1,351,049 | -$754,773 | $5,278,687 | $310,757 | $4,967,930 |
| June 30, 2023 | 990-EZ | $81,057 | $13,016 | $68,041 | $472,627 | – | $553,684 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $356,804
- Program service revenue
- $0
- Investment income
- $42,912
- Net gain from sales of assets
- -$75
- Other revenue
- $14,311
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $135,000
- Other salaries and wages
- $102,357
- Salaries, compensation and benefits (total)
- $301,875
- Professional fundraising fees
- $0
- Legal fees
- $4,993
- Accounting fees
- $58,168
- Occupancy
- $6,982
- Travel
- $5,250
- Depreciation
- $10,167
- Program services (functional)
- $306,921
- Management and general (functional)
- $169,427
- Fundraising (functional)
- $39,065
Balance sheet and other
- Total assets, start of year
- $5,278,687
- Total assets, end of year
- $6,146,575
- Total liabilities, end of year
- $1,280,031
- Net assets, end of year
- $4,866,544
- Land, buildings and equipment
- $1,854,786
- Net assets without donor restrictions
- $1,245,162
- Net assets with donor restrictions
- $3,621,382
- Gross receipts
- $414,102
- Employees
- 3
- Year formed
- 1981
- State of legal domicile
- KY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JASON LEMLE | PRESIDENT Trustee or director | 40 | $163,688 |
| DAVE ANDERSON | BOARD MEMBER Trustee or director | 1 | $0 |
| RICKY BINKLEY | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JEREMY BUCHANAN | BOARD MEMBER Trustee or director | 1 | $0 |
| GRACIE CAVIN | BOARD MEMBER Trustee or director | 1 | $0 |
| JEREMY CREASON | BOARD MEMBER Trustee or director | 1 | $0 |
| BRAD DAME | BOARD MEMBER Trustee or director | 1 | $0 |
| TYLER GOODMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SALLY HOPKINS | VICE-CHAIRMA Trustee or director, Officer | 1 | $0 |
| KATIE BETH MCCORD | BOARD MEMBER Trustee or director | 1 | $0 |
| WARD MORGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| KATHY O'NAN | BOARD MEMBER Trustee or director | 1 | $0 |
| KAYLA OTTERSON | BOARD MEMBER Trustee or director | 1 | $0 |
| JESSE PERRY | BOARD MEMBER Trustee or director | 1 | $0 |
| STEPHEN POWELL | BOARD MEMBER Trustee or director | 1 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TANYA ROSE | BOARD MEMBER Trustee or director | 1 | $0 |
| MATT SCOGGINS | SECRETARY/ T Trustee or director | 1 | $0 |
| BRENT SHULTZ | BOARD MEMBER Trustee or director | 1 | $0 |
| JUSTIN SUITER | BOARD MEMBER Trustee or director | 1 | $0 |
| KEVIN WIGGINS | BOARD MEMBER Trustee or director | 1 | $0 |
| GAVIN WILLIAMS | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 20 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JASON LEMLE | PRESIDENT Trustee or director | 40 | $118,226 |
| DAVE ANDERSON | BOARD MEMBER Trustee or director | 1 | $0 |
| JOHN ANDERSON | BOARD MEMBER Trustee or director | 1 | $0 |
| RICKY BINKLEY | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| TREVOR BONNSTETTER | BOARD MEMBER Trustee or director | 1 | $0 |
| JEREMY BUCHANAN | BOARD MEMBER Trustee or director | 1 | $0 |
| GRACIE CAVIN | BOARD MEMBER Trustee or director | 1 | $0 |
| JEREMY CREASON | BOARD MEMBER Trustee or director | 1 | $0 |
| BRAD DAME | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| TYLER GOODMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| RICHARD HEATH | BOARD MEMBER Trustee or director | 1 | $0 |
| SALLY HOPKINS | SECRETARY/ T Trustee or director, Officer | 1 | $0 |
| WARD MORGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| ALLISON MORRIS | BOARD MEMBER Trustee or director | 1 | $0 |
| KATHY O'NAN | BOARD MEMBER Trustee or director | 1 | $0 |
| JESSE PERRY | BOARD MEMBER Trustee or director | 1 | $0 |
| TANYA ROSE | BOARD MEMBER Trustee or director | 1 | $0 |
| MATT SCOGGINS | BOARD MEMBER Trustee or director | 1 | $0 |
| BRENT SHULTZ | BOARD MEMBER Trustee or director | 1 | $0 |
| SHEA WEAKS | BOARD MEMBER Trustee or director | 1 | $0 |
990-EZ for the year ended June 30, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jason Lemle | President | 40 | $0 |
| See List of Board Members | Board | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 201 E COLLEGE ST, MAYFIELD, KY 42066-2728
- Principal officer (990 for 2024)
- RICKY BINKLEY
- Signed the 990
- RICKY BINKLEY, CHAIRMAN
- Phone
- (270) 247-0626
- Return prepared by
- FOX & COMPANY CPAS INC
Mission
TO ACTIVELY SEARCH FOR NEW COMPANIES AND INDUSTRIES TO LOCATE IN THE MAYFIELD, KY AND GRAVES COUNTY, KY AREA FOR ECONOMIC DEVELOPMENT.
Program accomplishments
- TO ACTIVELY SEARCH FOR NEW COMPANIES AND INDUSTRIES TO LOCATE IN THE MAYFIELD, KY AND GRAVES COUNTY, KY AREA FOR ECONOMIC DEVELOPMENT.Expenses $306,921
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1027582
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1982
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S32Z)
- Assets (IRS master file)
- $6,146,575
- Income (IRS master file)
- $414,102
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $414,027 | $515,413 | $6,146,575 | IRS |
| 990 | June 2024 | $596,276 | $1,351,049 | $5,278,687 | IRS |
| 990-EZ | June 2023 | $81,057 | $13,016 | $472,627 | XML |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1027582).
Questions about GRAVES COUNTY ECONOMIC DEVELOPMENT INC
- What is the EIN of GRAVES COUNTY ECONOMIC DEVELOPMENT INC?
- The employer identification number (EIN) of GRAVES COUNTY ECONOMIC DEVELOPMENT INC is 31-1027582.
- Is GRAVES COUNTY ECONOMIC DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to GRAVES COUNTY ECONOMIC DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRAVES COUNTY ECONOMIC DEVELOPMENT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GRAVES COUNTY ECONOMIC DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GRAVES COUNTY ECONOMIC DEVELOPMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of GRAVES COUNTY ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended June 30, 2025 names RICKY BINKLEY.
- Who are the officers and directors of GRAVES COUNTY ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended June 30, 2025 lists 21 people; 1 received compensation from the organization, the highest $163,688 (JASON LEMLE, PRESIDENT).
- How much revenue does GRAVES COUNTY ECONOMIC DEVELOPMENT INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $414,027, expenses of $515,413 and total assets of $6,146,575 at year end.
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All nonprofits in MAYFIELD · Kentucky · Community improvement and capacity building