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Nonprofit · EIN 61-6035011

SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC

Tax-exempt · SHELBYVILLE, KY 40065

Financials

$916K$862K2023$842K$799K2024
Revenue Expenses · by fiscal year end
Financials of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$842,115$798,537$43,578$4,955,546$2,051,859$2,903,687
December 31, 2023990$916,276$861,960$54,316$4,692,480$1,832,643$2,859,837
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$401,232
Investment income
$217,859
Net rental income
$29,400
Net gain from sales of assets
$4,724
Net income from sales of inventory
$182,811
Other revenue
$223,024

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$82,253
Other salaries and wages
$280,180
Salaries, compensation and benefits (total)
$397,226
Professional fundraising fees
$0
Legal fees
$7,064
Accounting fees
$26,931
Occupancy
$105,434
Travel
$4,198
Depreciation
$72,545

Balance sheet and other

Total assets, start of year
$4,692,480
Total assets, end of year
$4,955,546
Total liabilities, end of year
$2,051,859
Net assets, end of year
$2,903,687
Land, buildings and equipment
$920,778
Publicly traded securities
$486,613
Net assets without donor restrictions
$2,903,687
Gross receipts
$927,249
Employees
17
Year formed
1957
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.

NameTitleHours / weekCompensation
RAY LEATHERSPresident & CEO
Trustee or director, Officer
35$82,253
DR JOSHUA MATTHEWSDirector
Trustee or director
0.5$0
TROY ETHINGTONDirector
Trustee or director
0.5$0
PAT HARGADONChairman
Trustee or director, Officer
0.5$0
STEVE MEADORVice-Chairman
Trustee or director
0.5$0
WAYNE KAREMDirector
Trustee or director
0.5$0
DAN ISONDirector
Trustee or director
0.5$0
JACK BRAGGTreasurer
Trustee or director, Officer
0.5$0
DOUG LANGLEYDirector
Trustee or director
0.5$0
JERRY KAREMDirector
Trustee or director
0.5$0
BRIAN WEBBDirector
Trustee or director
0.5$0
ROXANN FRYDirector
Trustee or director
0.5$0
AARON GAROFOLADirector
Trustee or director
0.5$0
RONALD SOWDERDirector
Trustee or director
0.5$0
990 for the year ended December 31, 2023: 19 people
NameTitleHours / weekCompensation
RAY LEATHERSPRESIDENT/CEO
Trustee or director, Officer
35$77,688
BOBBY G HUDSONDIRECTOR
Trustee or director
0.5$0
STEVE COLLINSDIRECTOR
Trustee or director
0.5$0
TROY ETHINGTONDIRECTOR
Trustee or director
0.5$0
TOM HARDESTYDIRECTOR
Trustee or director
0.5$0
PAT HARGADONCHAIRMAN
Trustee or director, Officer
0.5$0
STEVE MEADORVICE-CHAIRMAN
Trustee or director, Officer
0.5$0
WAYNE KAREMDIRECTOR
Trustee or director
0.5$0
DAN ISONDIRECTOR
Trustee or director
0.5$0
JACK BRAGGTREASURER
Trustee or director, Officer
0.5$0
DOUG LANGLEYDIRECTOR
Trustee or director
0.5$0
JERRY KAREMDIRECTOR
Trustee or director
0.5$0
BRIAN WEBBDIRECTOR
Trustee or director
0.5$0
ROXANN FRYDIRECTOR
Trustee or director
0.5$0
AARON GAROFOLADIRECTOR
Trustee or director
0.5$0
DR SALLY SUGGDIRECTOR
Trustee or director
0.5$0
RONALD SOWDERDIRECTOR
Trustee or director
0.5$0
ASHLEY COULTERDIRECTOR
Trustee or director
0.5$0
DERRICK THOMPSONDIRECTOR
Trustee or director
0.5$0

Address and contacts

Address (IRS master file)
316 MAIN ST, SHELBYVILLE, KY 40065-1026
Signed the 990
RAY LEATHERS, President & CEO
Phone
(502) 633-5068
Return prepared by
Raisor Zapp & Woods PSC

Mission

To promote industrial and commercial development in Shelby County, Kentucky.

990 for the year ended December 31, 2024

Program accomplishments

  • Guist Creek Marina & Campground provides recreational fishing, boating, and camping to the community. The organization also promotes commerce and encourages industry to locate to the community.

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
61-6035011
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1965
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$4,955,546
Income (IRS master file)
$927,249

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$842,115$798,537$4,955,546XML
990December 2023$916,276$861,960$4,692,480XML
990December 2022$347,497$425,009$4,710,721IRS
990June 2022–––IRS
990June 2021–––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 61-6035011).

Questions about SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC

What is the EIN of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC?
The employer identification number (EIN) of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC is 61-6035011.
Is SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1965.
Are donations to SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION 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 SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION 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 SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC?
The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $82,253 (RAY LEATHERS, President & CEO).
How much revenue does SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $842,115, expenses of $798,537 and total assets of $4,955,546 at year end.

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