Nonprofit · EIN 61-0673339
KENTUCKY HIGHLANDS INVESTMENT CORPORATION
Tax-exempt · LONDON, KY 40743
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $8,186,145 | $6,765,518 | $1,420,627 | $136,639,479 | $58,188,638 | $78,450,841 |
| March 31, 2024 | 990 | $20,341,978 | $6,595,495 | $13,746,483 | $136,294,056 | $58,878,284 | $77,415,772 |
| March 31, 2023 | 990 | $8,002,017 | $6,425,860 | $1,576,157 | $134,631,395 | $61,428,225 | $73,203,170 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $2,685,169
- of which government grants
- $1,898,241
- Program service revenue
- $4,942,318
- Investment income
- $331,332
- Net rental income
- $165,377
- Other revenue
- $227,326
Expenses
- Grants and similar amounts paid
- $88,679
- Compensation of officers, directors and key employees
- $1,409,075
- Other salaries and wages
- $1,521,259
- Salaries, compensation and benefits (total)
- $4,013,987
- Professional fundraising fees
- $0
- Legal fees
- $2,452
- Accounting fees
- $44,822
- Occupancy
- $337,081
- Travel
- $100,765
- Depreciation
- $174,510
- Program services (functional)
- $5,623,070
- Management and general (functional)
- $1,142,448
Balance sheet and other
- Total assets, start of year
- $136,294,056
- Total assets, end of year
- $136,639,479
- Total liabilities, end of year
- $58,188,638
- Net assets, end of year
- $78,450,841
- Land, buildings and equipment
- $4,472,499
- Gross receipts
- $8,186,145
- Employees
- 23
- Volunteers
- 0
- Year formed
- 1968
- 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 March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JERRY RICKETT | PRESIDENT/CEO Officer | 40 | $504,125 | $0 | $78,903 |
| BRENDA MCDANIEL | EXEC. VICE PRESIDENT/CFO Officer | 40 | $475,965 | $0 | $79,899 |
| MARK BOLINGER | VICE PRESIDENT OF BUSINESS Officer | 40 | $283,920 | $0 | $69,735 |
| EDGAR DAVIS | BUSINESS DEVELOPMENT SPECI Former | 40 | $176,699 | $0 | $53,092 |
| RUBY ADAMS | SECRETARY Officer | 40 | $66,348 | $0 | $35,773 |
| RAY MONCRIEF | FORMER OFFICER Former | 40 | $0 | $90,000 | $0 |
| WILLIAM SINGLETON | DIRECTOR Trustee or director | 1 | $13,200 | $0 | $0 |
| BILL BERTRAM | DIRECTOR Trustee or director | 1 | $4,950 | $0 | $0 |
| GREENE KEITH | DIRECTOR Trustee or director | 1 | $4,950 | $0 | $0 |
| PAULA LITTLE | DIRECTOR Trustee or director | 1 | $4,950 | $0 | $0 |
| SAMUEL BROWN | DIRECTOR Trustee or director | 1 | $4,500 | $0 | $0 |
| JANE CARTER | DIRECTOR Trustee or director | 1 | $4,500 | $0 | $0 |
| RICHARD FOLEY | DIRECTOR Trustee or director | 1 | $4,500 | $0 | $0 |
| GAYLE HOUSE | DIRECTOR Trustee or director | 1 | $4,500 | $0 | $0 |
| CLARENCE BO GREEN | DIRECTOR Trustee or director | 1 | $4,050 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILLIAM SMITH | DIRECTOR Trustee or director | 1 | $4,050 |
| AMY ELLIS | DIRECTOR Trustee or director | 1 | $4,050 |
| LONNIE RILEY | DIRECTOR Trustee or director | 1 | $3,600 |
| SERENA STRATTON | DIRECTOR Trustee or director | 1 | $3,600 |
| SHANE GABBARD | DIRECTOR Trustee or director | 1 | $3,150 |
| JENNIFER JONES | DIRECTOR Trustee or director | 10 | $2,250 |
990 for the year ended March 31, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JERRY RICKETT | PRESIDENT/CEO Officer | 40 | $482,715 | $74,804 |
| BRENDA MCDANIEL | EXEC. VICE PRESIDENT/CFO Officer | 40 | $458,267 | $76,254 |
| MARK BOLINGER | VICE PRESIDENT OF BUSINESS Officer | 40 | $269,540 | $65,771 |
| RUBY ADAMS | SECRETARY Officer | 40 | $63,299 | $49,800 |
| WILLIAM SINGLETON | DIRECTOR Trustee or director | 1 | $12,700 | $0 |
| RICHARD FOLEY | DIRECTOR Trustee or director | 1 | $4,450 | $0 |
| GREENE KEITH | DIRECTOR Trustee or director | 1 | $4,450 | $0 |
| SERENA STRATTON | DIRECTOR Trustee or director | 1 | $4,450 | $0 |
| BILL BERTRAM | DIRECTOR Trustee or director | 1 | $4,000 | $0 |
| SAMUEL BROWN | DIRECTOR Trustee or director | 1 | $4,000 | $0 |
| JANE CARTER | DIRECTOR Trustee or director | 1 | $4,000 | $0 |
| CLARENCE BO GREEN | DIRECTOR Trustee or director | 1 | $3,750 | $0 |
| WILLIAM SMITH | DIRECTOR Trustee or director | 1 | $3,650 | $0 |
| LONNIE RILEY | DIRECTOR Trustee or director | 1 | $3,550 | $0 |
| GAYLE HOUSE | DIRECTOR Trustee or director | 1 | $2,950 | $0 |
| PAULA LITTLE | DIRECTOR Trustee or director | 1 | $2,600 | $0 |
| JENNIFER JONES | DIRECTOR Trustee or director | 10 | $1,950 | $0 |
| AMY ELLIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended March 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JERRY RICKETT | PRESIDENT/CEO Officer | 40 | $473,773 | $68,993 |
| BRENDA MCDANIEL | EXEC. VICE PRESIDENT/CFO Officer | 40 | $433,269 | $70,413 |
| MARK BOLINGER | VICE PRESIDENT OF BUSINESS Officer | 40 | $250,523 | $61,207 |
| MICHAEL HAYES | SPECIAL PROJECTS COORDINAT Highest-paid employee | 40 | $192,852 | $52,937 |
| EDGAR DAVIS | BUSINESS DEVELOPMENT SPECI Highest-paid employee | 40 | $159,580 | $47,242 |
| RUBY ADAMS | SECRETARY Officer | 40 | $61,014 | $34,446 |
| WILLIAM SINGLETON | DIRECTOR Trustee or director | 1 | $12,000 | $0 |
| BILL BERTRAM | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| JANE CARTER | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| GREENE KEITH | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| MARY PURKEY | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| LONNIE RILEY | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| SERENA STRATTON | DIRECTOR Trustee or director | 1 | $3,850 | $0 |
| SAMUEL BROWN | DIRECTOR Trustee or director | 1 | $3,500 | $0 |
| RICHARD FOLEY | DIRECTOR Trustee or director | 1 | $3,500 | $0 |
| WILLIAM SMITH | DIRECTOR Trustee or director | 1 | $3,500 | $0 |
| CLARENCE BO GREEN | DIRECTOR Trustee or director | 1 | $3,150 | $0 |
| JENNIFER JONES | DIRECTOR Trustee or director | 10 | $3,150 | $0 |
| PAULA LITTLE | DIRECTOR Trustee or director | 1 | $3,150 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1738, LONDON, KY 40743-1738
- In care of
- % KENTUCKY HIGHLANDS INVESTMENT COR
- Principal officer (990 for 2024)
- JERRY RICKETT, PO BOX 1738, LONDON, KY 407431738
- Signed the 990
- BRENDA MCDANIEL, CFO
- Phone
- (606) 864-5175
- Website
- WWW.KHIC.ORG
- Return prepared by
- BLUE & CO LLC
Mission
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.
Program accomplishments
- KENTUCKY HIGHLANDS INVESTMENT CORPORATION (KHIC), LONDON, KENTUCKY WAS FOUNDED IN 1968 AS JOB START CORPORATION AS A PART OF THE WAR ON POVERTY. KHIC STARTED WITH A NINE COUNTY SERVICE AREA AND HAS EXPANDED TO TWENTY-TWO COUNTIES. THESE COUNTIES HAVE CHRONICALLY HIGH RATES OF UNEMPLOYMENT AND POVERTY. THIS HILLY, RURAL AREA HAS ONLY NINE POPULATION CENTERS WITH MORE THAN 5,000 RESIDENTS. BUT WITH TECHNOLOGY, GOOD HIGHWAYS, LOYAL EMPLOYEES AND LOWER COST OF LIVING IT IS AN INCREASINGLY ATTRACTIVE AREA FOR NEW BUSINESSES.AT MARCH 31,2025, KHIC HAS PROVIDED $735 MILLION IN FINANCING TO 1,171 BORROWERS, INCLUDING 537 SMALL FARM BORROWERS, AND CREATED 21,028 JOBS WHILE MAINTAINING 8,612. KHIC HAS BEEN A VIBRANT CATALYST FOR CHANGE IN ITS TARGET AREA. HOWEVER, KHIC'S PRIMARY CONCERN FOR THE AREA IS POVERTY. THE POVERTY RATE IN THE TARGETED INVESTMENT AREA AVERAGED 23.6 PERCENT IN 2024 AND MEDIAN FAMILY INCOME WAS ONLY $55,000. UNEMPLOYMENT IS CONSISTENTLY HIGHER IN THE AREA BY SEVERAL PERCENTAGE POINTS THAN FOR THE STATE OR THE NATION. UNEMPLOYMENT IN 2024 IS 6.8% WHICH IS 179% OF THE NATIONAL RATE OF 3.8%. IN 2003, KHIC EXPANDED ITS SERVICE AREA TO INCLUDE AN ADDITIONAL TEN CONTIGUOUS COUNTIES ALL EVIDENCING EXTREME POVERTY, LOW EDUCATIONAL ATTAINMENT, AND HIGH UNEMPLOYMENT AS WELL AS OTHER ASPECTS OF PERSISTENT ECONOMIC DISTRESS. KHIC'S SERVICE AREA INCLUDES 134 HIGH-POVERTY CENSUS TRACTS WITH GREATER THAN 20% POVERTY; 61 GREATER THAN 30%; 12 GREATER THAN 40% AND 4 GREATER THAN 50%. KHIC SERVES 5% OF THE NATION'S RURAL PERSISTENT POVERTY COUNTIES.SINCE ITS FOUNDING, KHIC HAS BEEN INVOLVED IN A VARIETY OF BUSINESS LENDING RELATED TO REAL ESTATE DEVELOPMENT, INCLUDING LENDING FOR COMMUNITY FACILITIES, MANUFACTURING AND INDUSTRIAL PLANT DEVELOPMENT, AND OFFICE SPACE. KHIC HAS DEVELOPED CLOSE TO $13 MILLION IN INDUSTRIAL REAL ESTATE PROJECTS DIRECTLY AND HAS PROVIDED APPROXIMATELY $100 MILLION IN FINANCING TO COMPANIES FOR INDUSTRIAL AND COMMERCIAL REAL ESTATE DEVELOPMENT. AS LEAD AGENCY FOR THE KENTUCKY HIGHLANDS EMPOWERMENT ZONE (KHEZ), KHIC HAS SUCCESSFULLY MANAGED MILLIONS OF DOLLARS OF FEDERAL, STATE AND LOCAL RESOURCES, LEVERAGING MORE THAN $150 MILLION OF PRIVATE RESOURCES ON BEHALF OF THE COMMUNITIES THROUGHOUT THE EMPOWERMENT ZONE AND RESULTING IN MORE THAN 4,100 NET NEW JOBS FROM KHEZ INVESTMENTS. KENTUCKY HIGHLANDS PROVIDES AN OPPORTUNITY TO BUSINESSES IN ITS FOOTPRINT TO RECEIVE SOPHISTICATED FINANCIAL SERVICES OTHERWISE UNAVAILABLE IN IN THE AREA. ACCESS TO FINANCING, ACCESS TO TRAINING, ACCESS TO NATIONAL LEVEL PROGRAMS ARE THE KEY ATTRIBUTES WHICH DIFFER KENTUCKY HIGHLANDS AND ITS STAFF. MOST INDIVIDUALS ARE LONG TIME EMPLOYEES, FAMILIAR WITH THE REGION AND ITS CONSTITUENTS, AND PASSIONATE ABOUT THE ECONOMIC ASPIRATIONS OF ITS CITIZENS AND BUSINESSES.ON JANUARY 7, 2014, PRESIDENT OBAMA NAMED KENTUCKY HIGHLANDS INVESTMENT CORPORATION, IN PARTNERSHIP WITH EIGHT COUNTIES IN SOUTHEASTERN KENTUCKY, AS THE FIRST RURAL PROMISE ZONE IN THE NATION. PROMISE ZONE IS A FEDERAL DESIGNATION OF A GEOGRAPHIC AREA CONTAINING NO MORE THAN 200,000 IN POPULATION AND THAT 20% OR MORE OF THE POPULATION LIVES IN POVERTY. THE INITIATIVE AIMS TO REVERSE FACTORS THAT LEAD TO POVERTY THROUGH A STRATEGIC ALIGNMENT OF FEDERAL AGENCIES WORKING TOGETHER IN CONCERT WITH BOTTOM-UP STRATEGIC DEVELOPMENT PLANS AT THE LOCAL ANDREGIONAL LEVEL. THE DESIGNATION ENDED ON JANUARY 7, 2024 BUT THE RELATIONSHIPS ESTABLISHED DURING THE DESIGNATION WILL REMAIN. ULTIMATELY, THE IMPLEMENTATION OF THE KENTUCKY HIGHLADNDS PROMISE ZONE STRATEGIC PLAN OPENED AVENUES TO A MORE DIVERSIFIED AND VIBRANT ECONOMY THAT IS LESS DEPENDENT UPON THE COAL MINING INDUSTRY. DEVELOPMENT OF HUMAN CAPITAL WAS AT THE CORE OF THE INITIATIVE.Expenses $5,623,070 · grants $88,679 · revenue $5,169,644
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 March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 61-0673339
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible (Pub 78)
- Organization other than a public charity or private foundation
- Exempt since
- 1988
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $136,639,479
- Income (IRS master file)
- $8,186,145
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $8,186,145 | $6,765,518 | $136,639,479 | XML |
| 990 | March 2024 | $20,341,978 | $6,595,495 | $136,294,056 | XML |
| 990 | March 2023 | $8,002,017 | $6,425,860 | $134,631,395 | XML |
| 990 | March 2022 | $9,285,837 | $6,369,098 | $130,461,604 | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
| 990 | March 2018 | – | – | – | 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 61-0673339).
Questions about KENTUCKY HIGHLANDS INVESTMENT CORPORATION
- What is the EIN of KENTUCKY HIGHLANDS INVESTMENT CORPORATION?
- The employer identification number (EIN) of KENTUCKY HIGHLANDS INVESTMENT CORPORATION is 61-0673339.
- Is KENTUCKY HIGHLANDS INVESTMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1988.
- Are donations to KENTUCKY HIGHLANDS INVESTMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Organization other than a public charity or private foundation).
- Which annual return does KENTUCKY HIGHLANDS INVESTMENT CORPORATION 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 KENTUCKY HIGHLANDS INVESTMENT CORPORATION due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KENTUCKY HIGHLANDS INVESTMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of KENTUCKY HIGHLANDS INVESTMENT CORPORATION?
- The 990 for the year ended March 31, 2025 names JERRY RICKETT.
- Who are the officers and directors of KENTUCKY HIGHLANDS INVESTMENT CORPORATION?
- The 990 for the year ended March 31, 2025 lists 21 people; 20 received compensation from the organization, the highest $504,125 (JERRY RICKETT, PRESIDENT/CEO).
- How much revenue does KENTUCKY HIGHLANDS INVESTMENT CORPORATION have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $8,186,145, expenses of $6,765,518 and total assets of $136,639,479 at year end.
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