LOUISVILLE ASSET BUILDING COALITION INC
Louisville, KY | Jefferson County
Community Services
Overview
LOUISVILLE ASSET BUILDING COALITION INC
45-5273568
701 W ORMSBY AVE STE 201
Louisville, KY 40203
Jefferson County
Louisville, KY 40203
Jefferson County
(502) 574-5687
info@labcservices.org
Mission Statement
BUILDING A BRIGHTER FUTURE BY PROVIDING ACCESS TO TRUSTED FINANCIAL SERVICES AND RESOURCES WITH A FOCUS ON LOW-TO-MODERATE INCOME INDIVIDUALS.
CRA Category
- Community Services
Nonprofit location
- Opportunity Zone
Awards & Certifications
- This nonprofit has not received any CRA awards or certifications.
Founded
2001
Total Employees
Not reported
Total Volunteers
Not reported
Nonprofit Classification (NTEE Code)
S31
S - Community Improvement, Capacity Building
Urban & Community Economic Development
Organizations that provide technical assistance, loans, loan guarantees or other forms of management support to help impoverished urban communities create local jobs, sustain local services and build healthier local economies.
IRS Activity Codes
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code)
813410
Civic and Social Organizations
Targeted Clients
- College Students
- Economically Disadvantaged
- General Public
- Homeless
- Immigrants or Refugees
- Minority Individuals
- Senior Citizens
- Small Businesses
- Underbanked or Unbanked
CRA Income Characteristics
This nonprofit has claimed its profile but has not yet provided this information.
CRA Alignment
CRA Category
Community Services
Social services and other support for low- and moderate-income, homeless or at-risk individuals.
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.
LOWHIGH
LOWHIGH
LOWHIGH
LOWHIGH
Programs & Services
COVID-19 RESPONSE & RECOVERY EFFORTS
Offering virtual free tax filing to assist LMI individuals to file their tax returns through the July 15th extended deadline and obtain economic stimulus payments.
Targeted Clients
Not reported
CRA Income Characteristics
Not reported
VOLUNTEER INCOME TAX ASSISTANCE (VITA) PROGRAM
Through the support of IRS-certified volunteers, LABC provides free, year-round tax preparation assistance to income-eligible individuals and families throughout the greater Louisville area. This program offers both self-file programs as well as volunteer-supported tax preparation. Under the volunteer-supported program, clients provide their information to a volunteer who fully prepares and electronically files their return. All services are provided free of charge and can be accessed at multiple sites, most of which are located in LMI neighborhoods.
Targeted Clients
Not reported
CRA Income Characteristics
Not reported
FINANCIAL EDUCATION AND ASSET DEVELOPMENT RESOURCES
As part of its commitment to building an economic foundation for members of the community to reach their highest potential, LABC provides a continuum of financial education resources and asset development solutions, beyond free tax preparation assistance. In conjunction with its many corporate partners, LABC helps clients to maximize the impact of their tax refunds and credits by providing access to financial education as well as financial products and services, including free or low-cost deposit and savings accounts, pre-paid cards, savings bonds, and free check cashing services.
Targeted Clients
Not reported
CRA Income Characteristics
Not reported
ANNUAL TAXATHON
On the first weekend of February 2019, LABC, in partnership with the Louisville Urban League, will host its annual Taxathon, a 2-day, 24-hour marathon tax preparation event at the peak of tax season, Throughout this event, LABC will provide free tax preparation services through its Volunteer Income Tax Assistance (VITA) Program to accommodate the rush of taxpayers seeking to claim the Earned Income Tax Credit. LABC aims to serve up to 200 clients through the Taxathon and return up to $300,000 back to the community through refunds.
Targeted Clients
Not reported
CRA Income Characteristics
Not reported
Awards & Certifications
Community Development Financial Institution
Community Development Financial Institution Award Recipient
New Market Tax Credit Recipient
HUD Counseling Agency
Low Income Housing Tax Credit Recipient
IRS Summary
Income
$248.7K
Revenue
$248.7K
Assets
$75.1K
IRS Business Master File Details
As of March 2024
Exempt Ruling Date
2014-08
Deductibility Status
Deductible
Last Tax Filing
2022
Organization Type
Corporation
Organization Tax Filing Status
990 (all other) or 990EZ return
Foundation Tax Filing Status
990-PF not required by IRS
Affiliation Classification
Independent Organization
Basis for Foundation/Public Charity Status
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)
IRS Publication 78 Details
As of March 2024
Verified in Publication 78
Yes
Deductibility Limitation
50% (60% for cash contributions)
Organization Description
A public charity
IRS Form 990 Returns
Through August 2023
Nonprofit Location
Physical Address
701 W ORMSBY AVE STE 201
Louisville, KY 40203
Jefferson County
Louisville, KY 40203
Jefferson County
Area Type
Metropolitan Statistical Area
FIPS Geocoded Address
31140
MSA/MD
21
State
111
County
0051.00
Tract
Unknown
Income Level
Core-Based Statistical Area
31140 - Louisville/Jefferson County, KY-IN
Combined Statistical Area
350 - Louisville/Jefferson County--Elizabethtown--Bardstown, KY-IN
Metropolitan Division
Not located in an MD.
Located In
Low- or Moderate-Income Census Tract
Opportunity Zone
Majority Minority Census Tract
48.54%
FFIEC Designated Distressed Census Tract
FFIEC Underserved Census Tract
Geographies Served
- KY - Jefferson County
Market Data
| Census Tract | County | |
|---|---|---|
| 0051.00 | Jefferson County | |
| Population | ||
| Total Population | 3,107 | 779,232 |
| Total Households | 1,992 | 327,211 |
| Income | ||
| Median Family Income (Census*) | $0 | $66,296 |
| Median Family Income (2023 FFIEC est.) | $89,300 | $89,300 |
| Tract Income Percentage | 0% | N/A |
| Below Poverty Level | 29.5% | 14.1% |
| Unemployment Level | 4.9% | 5.1% |
| Housing | ||
| Total Housing Units | 2,411 | 356,155 |
| Total Owner-Occupied Units | 10.1% | 61.8% |
| Total Renter-Occupied Units | 72.5% | 38.2% |
| Total Vacant Units | 17.4% | 7.2% |
* Census tract income based on 2020 American Community Survey data as reported in the 2023 FFIEC Census Flat File; County income based on 2022 American Community Survey data.
Management
16
Total Voting Members
in Governing Body
in Governing Body
16
Independent Voting Members
in Governing Body
in Governing Body
Tax Filing Signatory
Christopher Murphee
(502) 574-5687
(502) 574-5687
Principal Officer
Earnestine White
findCRA Profile Owner
Christopher Murphree
Program Director
christopher.murphree@louisvilleky.gov
Program Director
christopher.murphree@louisvilleky.gov
Key Policies & Documents
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting
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
Organization Activities
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations
Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2022-06.
A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.
This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. 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 help.findcra.com.
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