Nonprofit · EIN 31-1064807
COMMUNITY VENTURES CORPORATION INC
Tax-exempt · LEXINGTON, KY 40505
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $11,943,588 | $15,019,786 | -$3,076,198 | $100,313,664 | $67,018,399 | $33,295,265 |
| December 31, 2023 | 990 | $22,172,764 | $21,084,467 | $1,088,297 | $86,001,950 | $49,679,558 | $36,322,392 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,996,634
- of which government grants
- $4,819,767
- Program service revenue
- $6,444,336
- Investment income
- $346,927
- Net rental income
- $155,691
- Net gain from sales of assets
- -$99,140
- Other revenue
- $155,691
Expenses
- Grants and similar amounts paid
- $939,708
- Compensation of officers, directors and key employees
- $2,700,031
- Other salaries and wages
- $1,655,216
- Salaries, compensation and benefits (total)
- $5,883,584
- Professional fundraising fees
- $0
- Legal fees
- $107,448
- Accounting fees
- $63,256
- Occupancy
- $299,905
- Travel
- $167,721
- Depreciation
- $921,126
- Program services (functional)
- $12,432,102
- Management and general (functional)
- $2,119,024
- Fundraising (functional)
- $468,660
Balance sheet and other
- Total assets, start of year
- $86,001,950
- Total assets, end of year
- $100,313,664
- Total liabilities, end of year
- $67,018,399
- Net assets, end of year
- $33,295,265
- Land, buildings and equipment
- $10,455,246
- Net assets without donor restrictions
- $22,373,963
- Net assets with donor restrictions
- $10,921,302
- Gross receipts
- $12,766,663
- Employees
- 61
- Volunteers
- 0
- Year formed
- 1982
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN SMITH | PRESIDENT & CEO Officer | 40 | $245,371 | $41,421 |
| MILTON SHARP | PRESIDENT - EHOME Officer | 40 | $164,255 | $19,696 |
| BRENDA WEAVER | PRESIDENT DISASTER RECOVERY Officer | 40 | $164,151 | $16,255 |
| SHANE DARRISAW | PRESIDENT MPACT PRO Officer | 40 | $135,755 | $35,708 |
| WILEY FAW | CFO Officer | 40 | $132,055 | $35,084 |
| SHIRIE HAWKINS | PRES EVERYTHING EQUITY Officer | 40 | $130,555 | $23,588 |
| BRIAN HUTCHINSON | CHIEF DEV. OFFICER Officer | 40 | $136,655 | $16,350 |
| DANIEL HEFFERNAN | PRESIDENT NMTC Officer | 40 | $125,755 | $18,664 |
| PHILLIP CAVE | CONTROLLER Highest-paid employee | 40 | $104,702 | $36,739 |
| MICHAEL BERRYMAN | VP E HOME Highest-paid employee | 40 | $112,865 | $22,150 |
| ROBERT BURNS | CHIEF DATA OFFICER Officer | 40 | $86,546 | $36,730 |
| KRISTA BUCKEL | DIRECTOR BRAND STRATEGY Highest-paid employee | 40 | $105,895 | $14,574 |
| OTIS SINGLETON | DIRECTOR OF FINANCE Highest-paid employee | 40 | $106,875 | $9,989 |
| MARITA WILLIS | PRES. COMMUNITY ENGAGEMENT Officer | 40 | $107,300 | $5,538 |
| THOMAS MURRO | PRESIDENT CHEF SPACE Officer | 40 | $92,555 | $19,277 |
18 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LYNN LITTREL | SENIOR VP COMMERIAL LENDIN Highest-paid employee | 40 | $100,774 | $9,994 |
| JEFF POE | PRESIDENT HOUSING Officer | 40 | $85,455 | $16,842 |
| VICTORIA BENSON | PRES MSTRD SEED HILL Officer | 40 | $80,355 | $18,187 |
| MARK JOHNSON | PRESIDENT OF ART INC Officer | 40 | $60,755 | $24,616 |
| JOJUANA LEAVELL-GREENE | VICE CHAIRWOMAN Trustee or director, Officer | 1 | $0 | $0 |
| REVEREND FRED MITCHELL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHN WATZ | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| ARTHUR SALOMON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JERRY JOHNSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ARTIE FORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES DUKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN DOUGLAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF KOONCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LORRAIN SMOOT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RAYMOND DANIELS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARRY JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT HENRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 30 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN SMITH | PRESIDENT & CEO Officer | 40 | $244,617 | $88,062 |
| BRENDA WEAVER | PRESIDENT HOUSING Officer | 40 | $163,651 | $49,095 |
| MILTON SHARP | PRESIDENT - EHOME Officer | 40 | $151,500 | $46,965 |
| SHANE DARRISAW | PRESIDENT MPACT PRO Officer | 40 | $135,000 | $60,750 |
| WILEY FAW | CHIEF OPERATING OFFI Officer | 40 | $131,300 | $60,040 |
| DANIEL HEFFERNAN | PRESIDENT NMTC Officer | 40 | $134,921 | $47,222 |
| BRIAN HUTCHINSON | CHIEF DEV. OFFICER Officer | 40 | $126,200 | $37,860 |
| MICHAEL BERRYMAN | VP E HOME Officer | 40 | $119,650 | $41,878 |
| MARITA WILLIS | PRES. COMMUNITY ENGAGEMENT Officer | 40 | $117,200 | $41,020 |
| PHILLIP CAVE | CONTROLLER Highest-paid employee | 40 | $106,947 | $37,431 |
| OTIS SINGLETON | DIRECTOR OF FINANCE Officer | 40 | $106,480 | $37,268 |
| LYNN LITTREL | SENIOR VP COMMERIAL LENDIN Highest-paid employee | 40 | $105,774 | $37,021 |
| THOMAS MURRO | PRESIDENT CHEF SPACE Officer | 40 | $102,200 | $35,770 |
| SHIRIE HAWKINS | PRES EVERYTHING EQUITY Officer | 40 | $130,000 | $4,810 |
| ROBERT BURNS | PRES MSTRD SEED HILL Officer | 40 | $85,409 | $29,893 |
| MARK JOHNSON | PRESIDENT OF ART INC Officer | 40 | $70,253 | $24,589 |
| JEFF KOONCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES DUKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RAYMOND DANIELS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LORRAIN SMOOT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN DOUGLAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ARTIE FORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JERRY JOHNSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARRY JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ARTHUR SALOMON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT HENRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN WATZ | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JOJUANA LEAVELL-GREENE | VICE CHAIRWOMAN Trustee or director, Officer | 1 | $0 | $0 |
| REVEREND FRED MITCHELL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1450 N BROADWAY, LEXINGTON, KY 40505-3162
- In care of
- % BRIAN HUTCHINSON
- Principal officer (990 for 2024)
- KEVIN SMITH, 1450 N BROADWAY, LEXINGTON, KY 405053162
- Signed the 990
- KEVIN SMITH, PRESIDENT
- Phone
- (859) 231-0054
- Website
- WWW.CVKY.ORG
- Return prepared by
- BREEDING HENDERSON & HORD PLLC
Mission
COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION.
Program accomplishments
- PROVIDING LENDING ASSISTANCE TO LOW-INCOME INDIVIDUALS SEEKING FIRST TIME HOME OWNERSHIP AND LOW INCOME BUSINESS OWNERS. ADVANTAGES OF CVC'S LENDING PROGRAMS OVER CONVENTIONAL FINANCING INCLUDE: LOW DOWN PAYMENTS, FIXED INTEREST RATES, LONG TERMS, LOW INTEREST RATES, AND THE ABILITY FOR LOAN FEES TO BE FINANCED IN THE LOAN. EXAMPLES OF PROGRAMS OPERATED TO FACILITATE LENDING ASSISTANCE ARE; 1) DEPARTMENT OF TREASURY (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUNDS) - PROVIDES ASSISTANCE TO STRENGTHEN AND EXPAND COMMUNITY DEVELOPMENT TO LOW-INCOME INDIVIDUALS 2) THE COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO") - REPRESENTS FUNDS PROVIDED BY A COMMUNITY-BASED SERVICE ORGANIZATION THAT HAS SIGNIFICANT CAPACITY TO DEVELOP AFFORDABLE HOUSING FOR THE COMMUNITY IT SERVES.Expenses $4,420,604 · revenue $2,288,699
- COMMUNITY DEVELOPMENT AND ASSISTANCE IN THE ACQUISITION AND SUBSTANTIAL REHABILITATION OF SINGLE-FAMILY HOMES FOR FIRST-TIME BUYERS. CVC HAS A LONGSTANDING COMMITMENT TO KENTUCKY'S NEIGHBORHOODS AND THE ORGANIZATION IS CONSTANTLY EXPLORING OPPORTUNITIES TO ADDRESS THE COMPLEX CHALLENGES FACED BY KENTUCKY'S COMMUNITIES. CVC ADDRESSES THE CHALLENGES THROUGH DEVELOPING PROJECTS IN UNDERSERVED AREAS, CONSTRUCTING SINGLE-FAMILY HOMES FOR FIRST- TIME HOME BUYERS, AND ASSISTING IN FINANCING AND SUPPORTING PROJECTS IN RURAL AREAS.Expenses $2,936,540 · grants $939,708 · revenue $375,783
- CVC ASSISTS FAMILIES ACCOMPOLISH THEIR DREAMS OF PURCHASING HOMES, REDUCING DEBT, AND INCREASING FINANCIAL LITERACY THROUGH THEIR EHOME AMERICA PLATFORM. EHOME AMERICA IS AN ONLINE FINANCIAL EDUCATION PLATFORM THAT OFFERS AFFORDABLE FINANCIAL EDUCATION TO CUSTOMERS ACROSS THE GLOBE. THE COURSES ARE OFFERED ON DEMAND AT THE CUSTOMERS CONVENIENCE. THE PLATFORM OFFERS EDUCTION IN THE FOLLOWING AREAS: 1) HOMEBUYER EDUCATION - COMPREHENSIVE 8 HOUR ONLINE HOMEBUYER COURSE THAT IS OFFERED IN ENGLISH AND SPANSISH AND SANCTIONED BY HUD AND USDA 2.) MONEY MANAGEMENT - A 2-3 HOUR COURSE WITH A PROFESSIONAL PARTNER TO ASSIST CUSTOMERS IN TAKING CONTROL OF THEIR FINANACES AND GENERATING PEACE OF MIND FOR THEIR FINANCIAL FUTURES 3.) FORECOLSURE PREVENTION - COURSE IS DESIGNED TO ASSIST CUSTOMERS NAVIGATE THE CHALLENGES OF THE FORECLOSURE PROCESS AND STEPS THAT CAN BE TAKEN TO AVOID THE LOSS OF THEIR HOME.Expenses $3,527,298 · revenue $2,873,063
- OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS.Expenses $1,547,660 · revenue $906,791
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1064807
- 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
- 1983
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S99Z)
- Assets (IRS master file)
- $100,313,664
- Income (IRS master file)
- $12,766,663
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $11,943,588 | $15,019,786 | $100,313,664 | IRS |
| 990 | December 2023 | $22,172,764 | $21,084,467 | $86,001,950 | XML |
| 990 | December 2022 | $14,011,669 | $13,285,348 | $86,787,851 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 31-1064807).
Questions about COMMUNITY VENTURES CORPORATION INC
- What is the EIN of COMMUNITY VENTURES CORPORATION INC?
- The employer identification number (EIN) of COMMUNITY VENTURES CORPORATION INC is 31-1064807.
- Is COMMUNITY VENTURES CORPORATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to COMMUNITY VENTURES CORPORATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COMMUNITY VENTURES CORPORATION 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 COMMUNITY VENTURES CORPORATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COMMUNITY VENTURES CORPORATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of COMMUNITY VENTURES CORPORATION INC?
- The 990 for the year ended December 31, 2024 names KEVIN SMITH.
- Who are the officers and directors of COMMUNITY VENTURES CORPORATION INC?
- The 990 for the year ended December 31, 2024 lists 33 people; 19 received compensation from the organization, the highest $245,371 (KEVIN SMITH, PRESIDENT & CEO).
- How much revenue does COMMUNITY VENTURES CORPORATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $11,943,588, expenses of $15,019,786 and total assets of $100,313,664 at year end.
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