Nonprofit · EIN 61-6035011
SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC
Tax-exempt · SHELBYVILLE, KY 40065
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $842,115 | $798,537 | $43,578 | $4,955,546 | $2,051,859 | $2,903,687 |
| December 31, 2023 | 990 | $916,276 | $861,960 | $54,316 | $4,692,480 | $1,832,643 | $2,859,837 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $401,232
- Investment income
- $217,859
- Net rental income
- $29,400
- Net gain from sales of assets
- $4,724
- Net income from sales of inventory
- $182,811
- Other revenue
- $223,024
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $82,253
- Other salaries and wages
- $280,180
- Salaries, compensation and benefits (total)
- $397,226
- Professional fundraising fees
- $0
- Legal fees
- $7,064
- Accounting fees
- $26,931
- Occupancy
- $105,434
- Travel
- $4,198
- Depreciation
- $72,545
Balance sheet and other
- Total assets, start of year
- $4,692,480
- Total assets, end of year
- $4,955,546
- Total liabilities, end of year
- $2,051,859
- Net assets, end of year
- $2,903,687
- Land, buildings and equipment
- $920,778
- Publicly traded securities
- $486,613
- Net assets without donor restrictions
- $2,903,687
- Gross receipts
- $927,249
- Employees
- 17
- Year formed
- 1957
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RAY LEATHERS | President & CEO Trustee or director, Officer | 35 | $82,253 |
| DR JOSHUA MATTHEWS | Director Trustee or director | 0.5 | $0 |
| TROY ETHINGTON | Director Trustee or director | 0.5 | $0 |
| PAT HARGADON | Chairman Trustee or director, Officer | 0.5 | $0 |
| STEVE MEADOR | Vice-Chairman Trustee or director | 0.5 | $0 |
| WAYNE KAREM | Director Trustee or director | 0.5 | $0 |
| DAN ISON | Director Trustee or director | 0.5 | $0 |
| JACK BRAGG | Treasurer Trustee or director, Officer | 0.5 | $0 |
| DOUG LANGLEY | Director Trustee or director | 0.5 | $0 |
| JERRY KAREM | Director Trustee or director | 0.5 | $0 |
| BRIAN WEBB | Director Trustee or director | 0.5 | $0 |
| ROXANN FRY | Director Trustee or director | 0.5 | $0 |
| AARON GAROFOLA | Director Trustee or director | 0.5 | $0 |
| RONALD SOWDER | Director Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RAY LEATHERS | PRESIDENT/CEO Trustee or director, Officer | 35 | $77,688 |
| BOBBY G HUDSON | DIRECTOR Trustee or director | 0.5 | $0 |
| STEVE COLLINS | DIRECTOR Trustee or director | 0.5 | $0 |
| TROY ETHINGTON | DIRECTOR Trustee or director | 0.5 | $0 |
| TOM HARDESTY | DIRECTOR Trustee or director | 0.5 | $0 |
| PAT HARGADON | CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| STEVE MEADOR | VICE-CHAIRMAN Trustee or director, Officer | 0.5 | $0 |
| WAYNE KAREM | DIRECTOR Trustee or director | 0.5 | $0 |
| DAN ISON | DIRECTOR Trustee or director | 0.5 | $0 |
| JACK BRAGG | TREASURER Trustee or director, Officer | 0.5 | $0 |
| DOUG LANGLEY | DIRECTOR Trustee or director | 0.5 | $0 |
| JERRY KAREM | DIRECTOR Trustee or director | 0.5 | $0 |
| BRIAN WEBB | DIRECTOR Trustee or director | 0.5 | $0 |
| ROXANN FRY | DIRECTOR Trustee or director | 0.5 | $0 |
| AARON GAROFOLA | DIRECTOR Trustee or director | 0.5 | $0 |
| DR SALLY SUGG | DIRECTOR Trustee or director | 0.5 | $0 |
| RONALD SOWDER | DIRECTOR Trustee or director | 0.5 | $0 |
| ASHLEY COULTER | DIRECTOR Trustee or director | 0.5 | $0 |
| DERRICK THOMPSON | DIRECTOR Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 316 MAIN ST, SHELBYVILLE, KY 40065-1026
- Signed the 990
- RAY LEATHERS, President & CEO
- Phone
- (502) 633-5068
- Return prepared by
- Raisor Zapp & Woods PSC
Mission
To promote industrial and commercial development in Shelby County, Kentucky.
Program accomplishments
- Guist Creek Marina & Campground provides recreational fishing, boating, and camping to the community. The organization also promotes commerce and encourages industry to locate to the community.
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-6035011
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1965
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,955,546
- Income (IRS master file)
- $927,249
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $842,115 | $798,537 | $4,955,546 | XML |
| 990 | December 2023 | $916,276 | $861,960 | $4,692,480 | XML |
| 990 | December 2022 | $347,497 | $425,009 | $4,710,721 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | 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 61-6035011).
Questions about SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC
- What is the EIN of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC?
- The employer identification number (EIN) of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC is 61-6035011.
- Is SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1965.
- Are donations to SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC 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 SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $82,253 (RAY LEATHERS, President & CEO).
- How much revenue does SHELBY COUNTY INDUSTRIAL AND DEVELOPMENT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $842,115, expenses of $798,537 and total assets of $4,955,546 at year end.
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