LOUISVILLE ASSET BUILDING COALITION INC

Louisville, KY | Jefferson County
CRA Category: Economic Development

CRA Overview

Economic Development
NTEE Code
S31
NTEE Category
S - Community Improvement, Capacity Building
NTEE Description
Urban & Community Economic Development
IRS Activity Codes
Not Applicable
NAICS Code
813410
NAICS Category
Civic and Social Organizations
CDFI
No
NMTC Recipient
No
LIHTC Recipient
No
SBA SBIC
No
HUD Counseling Agency
No

CRA Alignment

LowHigh
Affordable Housing

Economic Development

Revitalize/Stabilize

Community Services to LMI Individuals

Services in LMI Areas

CRA Programs & Services Overview

COVID-19 RESPONSE & RECOVERY EFFORTS

Community Services to LMI Individuals
VITA Tax Preparation
Louisville MSA

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.

VOLUNTEER INCOME TAX ASSISTANCE (VITA) PROGRAM

Community Services to LMI Individuals
LMI Individuals & Families
Louisville MSA

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.

FINANCIAL EDUCATION AND ASSET DEVELOPMENT RESOURCES

Community Services to LMI Individuals
LMI Individuals & Families
Louisville MSA

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.

ANNUAL TAXATHON

Community Services to LMI Individuals
LMI Individuals & Families
Louisville MSA

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.

IRS Information

Organization Type
Corporation
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)
Affiliation Classification
Independent Organization
Ruling Date
2014-08
Deductibility Status
Deductible
Organization Tax Filing Status
990 (all other) or 990EZ return
Foundation Tax Filing Status
990-PF not required by IRS
Last Year Taxes Filed
2018

Nonprofit Location

701 W ORMSBY AVE STE 201
Louisville, KY 40203
Jefferson County
31140
MSA/CBSA
21
State
111
County
0050.00
Tract
Low
Income Level
MSA/CBSA Title
Louisville/Jefferson County, KY-IN
Metro or Micro
Metropolitan Statistical Area
Metropolitan Division Title
-
CSA Title
Louisville/Jefferson County--Elizabethtown--Bardstown, KY-IN
LMI Census Tract
Yes
Underserved Area
No
Distressed Area
No
Poverty
Unemployment
Population Loss
Opportunity Zone
Yes
Majority Minority Census Tract
No
53.47%

Geography Demographics | Census Tract 0050.00

Total Persons
1,816
Total Households
1,066
Median Age
48
Total Minority
971
Total Seniors (65+)
631
2010 MSA Median Family
$64,965
2019 Est. MSA MFI from Census
$70,800
2019 Est. MSA MFI from FFIEC
$70,800
2010 Tract Median Family
$23,245
Tract Income %
35.78%
Self-Employed Households
71
Unemployed %
12.61%
Below Poverty %
28.53%
Households with Public Assistance
50
Total Housing Units
1,253
Median Home Age (Years)
57
1-4 Family Housing Units
332
Multi-Family Housing Units
921
Owner-Occupied Units
90
Renter-Occupied Units
976
Vacant Units
187