Nonprofit · EIN 83-2503851
THE MET DEVELOPMENT INC
Tax-exempt · LEXINGTON, KY 40505
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,394,642 | $1,342,850 | $51,792 | $26,104,344 | $20,058,217 | $6,046,127 |
| December 31, 2023 | 990 | $1,394,642 | $1,317,368 | $77,274 | $26,052,552 | $20,058,217 | $5,994,335 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,394,642
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $139,387
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $21,554
- Depreciation
- $599,027
- Program services (functional)
- $1,321,292
- Management and general (functional)
- $21,558
Balance sheet and other
- Total assets, start of year
- $26,052,552
- Total assets, end of year
- $26,104,344
- Total liabilities, end of year
- $20,058,217
- Net assets, end of year
- $6,046,127
- Land, buildings and equipment
- $22,611,222
- Net assets without donor restrictions
- $6,046,127
- Gross receipts
- $1,394,642
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2018
- 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 | From related orgs |
|---|---|---|---|---|
| KEVIN SMITH | PRESIDENT Trustee or director, Officer | 1 | $0 | $294,446 |
| WILLIAM MOODY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN WATZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KEVIN SMITH | PRESIDENT Trustee or director, Officer | 1 | $0 | $244,617 | $88,062 |
| WILLIAM MOODY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN WATZ | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1450 N BROADWAY, LEXINGTON, KY 40505-3162
- In care of
- % NICOLE RECORD
- Principal officer (990 for 2024)
- KEVIN SMITH, 1450 NORTH BROADWAY, LEXINGTON, KY 405053162
- Signed the 990
- KEVIN SMITH, PRESIDENT
- Phone
- (859) 231-0054
- Return prepared by
- BREEDING HENDERSON & HORD PLLC
Mission
TO ENGAGE IN ECONOMIC DEVELOPMENT BY REVITALIZING A SEVERELY ECONOMICALLY DISTRESSED COMMUNITY.
Program accomplishments
- DEVELOPMENT AND LEASING OF INFRASTRUCTURE TO PROVIDE AFFORDABLE HOUSING, HEALTHY FOOD, AND AFFORDABLE HEALTHCARE TO A SEVERELY ECONOMICALLY DISTRESSED COMMUNITY IN LEXINGTON, KY.Expenses $1,321,292 · grants $139,387 · revenue $1,394,642
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
- 83-2503851
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type II
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $26,104,344
- Income (IRS master file)
- $1,394,642
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,394,642 | $1,342,850 | $26,104,344 | XML |
| 990 | December 2023 | $1,394,642 | $1,317,368 | $26,052,552 | XML |
| 990 | December 2022 | $1,394,642 | $1,292,987 | $26,000,068 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 83-2503851).
Questions about THE MET DEVELOPMENT INC
- What is the EIN of THE MET DEVELOPMENT INC?
- The employer identification number (EIN) of THE MET DEVELOPMENT INC is 83-2503851.
- Is THE MET DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to THE MET DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does THE MET 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 THE MET DEVELOPMENT 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 THE MET DEVELOPMENT 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 THE MET DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 names KEVIN SMITH.
- Who are the officers and directors of THE MET DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does THE MET DEVELOPMENT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,394,642, expenses of $1,342,850 and total assets of $26,104,344 at year end.
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All nonprofits in LEXINGTON · Kentucky · Community improvement and capacity building