COMMUNITY VENTURES CORPORATION INC

LEXINGTON, KY | Fayette County
Economic Development

Overview

COMMUNITY VENTURES CORPORATION INC
31-1064807
1450 N BROADWAY
LEXINGTON, KY 40505
Fayette County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Economic Development
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
  • Opportunity Zone
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
  • HUD Counseling Agency
  • NMTC Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
S99

S - Community Improvement, Capacity Building

Community Improvement & Capacity Building N.E.C.

Use this code for organizations that clearly provide community improvement, capacity building services where the major purpose is unclear enough that a more specific code cannot be accurately assigned.

IRS Activity Codes info
400
Area development, redevelopment of renewal
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2019
$714,000
CDFI Financial Assistance
2017
$916,905
CDFI Financial Assistance
2016
$2,000,000
CDFI Financial Assistance
New Market Tax Credit Recipient info
Most Recent NMTC Award info
2013

$45,000,000
HUD Counseling Agency info
Counseling Programs Offered info
  • Fair Housing Pre-Purchase Education
  • Financial Management/Budget Counseling
  • Home Improvement and Rehab
  • Mortgage Delinquency and Default
  • Non-Delinquency Post Purchase Workshops
  • Pre-Purchase Counseling
  • Pre-Purchase Homebuyer Workshops
  • Predatory Lending Education Workshops
  • Rental Housing Counseling
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$12.8M
Revenue
$11.5M
Assets
$69.7M
Exempt Ruling Date info
1983-07
Deductibility Status info
Deductible
Last Tax Filing info
2019
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
KY
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

Nonprofit Location

Physical Address info
1450 N BROADWAY
LEXINGTON, KY 40505
Fayette County
FIPS Geocoded Address info
30460
MSA/CBSA info
21
State info
067
County info
0013.00
Tract info
Low
Income Level info
Core-Based Statistical Area info
Lexington-Fayette, KY
Combined Statistical Area info
Lexington-Fayette--Richmond--Frankfort, KY
Metropolitan Division info
Not located in an MD.
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 60.81%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0013.00 Fayette County
Population
Total Population 2,332 322,200
Total Households 852 130,926
Income
Median Family Income (Census*) $21,988 $58,954
Median Family Income (2019 FFIEC) $74,500 N/A
Tract Income Percentage 32.91% N/A
Below Poverty Level 40.2% 15.8%
Unemployment Level 12.8% 5.2%
Housing
Total Housing Units 948 142,813
Total Owner-Occupied Units 31.3% 54.6%
Total Renter-Occupied Units 58.5% 45.4%
Total Vacant Units 10.1% 5.9%
* Census tract income based on 2019 Census estimated data; County income based on 2020 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

16
Total Voting Members
in Governing Body
info
16
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Kevin Smith
President & CEO
(859) 231-0054
Principal Officer info
Kevin Smith
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.