KENTUCKY HIGHLANDS INVESTMENT CORPORATION

LONDON, KY | Laurel County
Economic Development

Overview

KENTUCKY HIGHLANDS INVESTMENT CORPORATION
61-0673339
362 OLD WHITLEY RD
LONDON, KY 40744
Laurel County
(606) 864-5175

Mission Statement info

KHIC'S PURPOSE IS TO PLAN, PROMOTE, INITIATE, AND COORDINATE COMMUNITY, ECONOMIC, AND SOCIAL DEVELOPMENT EFFORTS. KHIC HAS USED A VENTURE CAPITAL APPROACH YIELDING NOTABLE POSITIVE RESULTS. IT HAS A STRONG BASE OF CAPITAL WITH A PORTFOLIO THAT ALLOWS IT TO BE SELF-SUSTAINING, A DEDICATED AND EXPERIENCED STAFF, A COMMITTED AND SUPPORTIVE BOARD OF DIRECTORS, AND A CLEAR DEFINITION OF ITS MISSION AND METHOD. KHIC'S STRATEGY IS TO DEVELOP AN ENVIRONMENT WHERE ENTREPRENEURSHIP WILL THRIVE. IT DOES SO BY PROVIDING BOTH FINANCIAL SUPPORT AND MANAGEMENT ASSISTANCE TO NEW AND EXISTING BUSINESSES. IT ALSO SEEKS TO INTRODUCE AND DEVELOP ENTREPRENEURIAL TALENT BOTH FROM WITHIN THE REGION AND FROM AREAS OUTSIDE THE REGION.

Founded info
1968
Total Employees info
25
Total Volunteers info
0
CRA Category info
  • Economic Development
Nonprofit location info
  • Distressed Area
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
  • NMTC Recipient
Nonprofit Classification (NTEE Code) info
-

Not reported

IRS Activity Codes info
403
Attracting new industry or retaining industry in an area
404
Community promotion
-
Not reported
Standard Business Classification (NAICS Code) info
-
Not reported

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Venture Capital
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2019
$714,000
CDFI Financial Assistance
2018
$1,125,000
CDFI Financial Assistance
2017
$1,006,905
CDFI Financial Assistance
New Market Tax Credit Recipient info
Most Recent NMTC Award info
2008

$10,000,000
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$7.8M
Revenue
$7.4M
Assets
$95.3M
Exempt Ruling Date info
1988-05
Deductibility Status info
Deductible
Tax Filing Year info
2017
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
All organizations except 501(c)(3)
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

Nonprofit Location

Physical Address info
362 OLD WHITLEY RD
LONDON, KY 40744
Laurel County
FIPS Geocoded Address info
30940
MSA/CBSA info
21
State info
125
County info
9707.00
Tract info
Middle
Income Level info
Core-Based Statistical Area info
London, KY
Combined Statistical Area info
Not located in a CSA.
Metropolitan Division info
Not located in an MD.
Area Type info
Micropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 7.39%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
9707.00 Laurel County
Population
Total Population 5,924 60,357
Total Households 2,273 22,573
Income
Median Family Income (Census*) $44,760 $41,526
Median Family Income (2019 FFIEC) $49,800 N/A
Tract Income Percentage 97.33% N/A
Below Poverty Level 23.4% 23.2%
Unemployment Level 16.3% 6.5%
Housing
Total Housing Units 2,397 25,867
Total Owner-Occupied Units 63.5% 69.9%
Total Renter-Occupied Units 31.3% 30.1%
Total Vacant Units 5.2% 8.2%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

15
Total Voting Members
in Governing Body
info
15
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Brenda McDaniel
CFO
(606) 864-5175
Principal Officer info
Jerry Rickett
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

"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.