Nonprofit · EIN 61-1326954
PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC
Tax-exempt · PRESTONSBURG, KY 41653
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $27,364 | $35,429 | -$8,065 | $653,218 | $0 | $653,218 |
| December 31, 2024 | 990 | $24,728 | $18,603 | $6,125 | $661,283 | $0 | $661,283 |
| December 31, 2023 | 990 | $17,288 | $38,662 | -$21,374 | $999,496 | $344,338 | $655,158 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $13,365
- Royalties
- $13,999
- Other revenue
- $13,999
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,000
- Management and general (functional)
- $35,429
Balance sheet and other
- Total assets, start of year
- $661,283
- Total assets, end of year
- $653,218
- Total liabilities, end of year
- $0
- Net assets, end of year
- $653,218
- Land, buildings and equipment
- $359,649
- Gross unrelated business income
- $27,364
- Gross receipts
- $27,364
- Employees
- 0
- Year formed
- 2004
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL P HUGHES | DIRECTOR Trustee or director | 0 | $0 |
| DAVID ELLIS | DIRECTOR Trustee or director | 0 | $0 |
| EDWARD R NAIRN | DIRECTOR Trustee or director | 0 | $0 |
| BEAU SPURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| LLOYD STAPLETON | DIRECTOR Trustee or director | 0 | $0 |
| ESTILL L CARTER | DIRECTOR Trustee or director | 0 | $0 |
| GREG WILSON | DIRECTOR Trustee or director | 0 | $0 |
| BURL W SURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| JOSH TURNER | DIRECTOR Trustee or director | 0 | $0 |
| THOMAS NAIRN | PRESIDENT Officer | 0 | $0 |
| ROBERT R ALLEN II | SECRETARYTREASUER Officer | 0 | $0 |
990 for the year ended December 31, 2024: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL P HUGHES | DIRECTOR Trustee or director | 0 | $0 |
| DAVID ELLIS | DIRECTOR Trustee or director | 0 | $0 |
| EDWARD R NAIRN | DIRECTOR Trustee or director | 0 | $0 |
| BEAU SPURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| LLOYD STAPLETON | DIRECTOR Trustee or director | 0 | $0 |
| ESTILL L CARTER | DIRECTOR Trustee or director | 0 | $0 |
| GREG WILSON | DIRECTOR Trustee or director | 0 | $0 |
| BURL W SURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| JOSH TURNER | DIRECTOR Trustee or director | 0 | $0 |
| THOMAS NAIRN | PRESIDENT Officer | 0 | $0 |
| ROBERT R ALLEN II | SECRETARYTREASUER Officer | 0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS NAIRN | CHAIRMAN/PRESIDENT Trustee or director, Officer | 0 | $0 |
| ROBERT R ALLEN II | SECRETARY/TREASURER Trustee or director, Officer | 10 | $0 |
| PAUL P HUGHES | DIRECTOR Trustee or director | 0 | $0 |
| DAVID ELLIS | DIRECTOR Trustee or director | 0 | $0 |
| EDWARD R NAIRN | DIRECTOR Trustee or director | 0 | $0 |
| BEAU SPURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| LLOYD STAPLETON | DIRECTOR Trustee or director | 0 | $0 |
| ESTILL L CARTER | DIRECTOR Trustee or director | 0 | $0 |
| GREG WILSON | DIRECTOR Trustee or director | 0 | $0 |
| BURL W SPURLOCK | DIRECTOR Trustee or director | 0 | $0 |
| JOSH TURNER | DIRECTOR Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 382 MAPLE AVE, PRESTONSBURG, KY 41653-7999
- In care of
- % ROBERT RONALD ALLEN
- Signed the 990
- ROBERT R ALLEN II, SECTREAS
- Phone
- (606) 434-9478
- Return prepared by
- David L Garrett CPA PSC
Mission
THE ORGANIZATIONS PRIMARY MISSION IS TO PERFORM INDUSTRIAL DEVELOPMENT THAT WILL IMPROVE THE COMMUNITY.
Program accomplishments
- LAND DEVELOPMENT COSTS ARE NORAMLLY CAPITALIZED BUT NO NEW IMPOROVEMENTS TO INDUSTRIAL SITE DURING 2024.
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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 | 990 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
- 61-1326954
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Assets (IRS master file)
- $653,218
- Income (IRS master file)
- $27,364
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $27,364 | $35,429 | $653,218 | XML |
| 990 | December 2024 | $24,728 | $18,603 | $661,283 | XML |
| 990 | December 2023 | $17,288 | $38,662 | $999,496 | XML |
| 990 | December 2022 | $17,297 | $26,060 | $1,015,375 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 61-1326954).
Questions about PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC
- What is the EIN of PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC?
- The employer identification number (EIN) of PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC is 61-1326954.
- Is PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1998.
- Are donations to PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who are the officers and directors of PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does PRESTONSBURG ECONOMIC DEVELOPMENT F OUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $27,364, expenses of $35,429 and total assets of $653,218 at year end.
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