Prestonsburg Economic Development Foundation
EIN: 611326954 · Prestonsburg, KY
| Metric | Value |
|---|---|
| Total Revenue | $27K |
| Total Expenses | $39K |
| Net Assets | $655K |
Is Prestonsburg Economic Development Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Prestonsburg Economic Development Foundation
Prestonsburg Economic Development Foundation (EIN: 611326954) is a nonprofit organization based in Prestonsburg, KY. The organization reported total revenue of $27K and total assets of $653K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Prestonsburg Economic Development Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Prestonsburg Economic Development Foundation is a micro nonprofit that has been operating for 28 years, with 13 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $17K |
| Total Expenses | $39K |
| Surplus / Deficit | $-21,374 |
| Total Assets | $999K |
| Total Liabilities | $344K |
| Net Assets | $655K |
| Operating Margin | -123.6% |
| Debt-to-Asset Ratio | 34.5% |
| Months of Reserves | 310.2 months |
Financial Health Grade: B
In 2023, Prestonsburg Economic Development Foundation reported a deficit of $21K with expenses exceeding revenue, holds 310.2 months of operating reserves (strong position), has a debt-to-asset ratio of 34.5% (moderate leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.1% | +48.4% | -1.6% |
| 2022 | +11.3% | -0.7% | -1.9% |
| 2021 | -36.8% | +26.8% | -1.0% |
| 2020 | +67.8% | -31.9% | +0.4% |
| 2019 | +3.6% | +0.1% | -1.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Prestonsburg Economic Development Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Prestonsburg Economic Development Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $21K, with expenses exceeding revenue.
- Debt-to-asset ratio: 34.5%.
Frequently Asked Questions about Prestonsburg Economic Development Foundation
Is Prestonsburg Economic Development Foundation a legitimate charity?
Prestonsburg Economic Development Foundation (EIN: 611326954) is a registered tax-exempt nonprofit based in Kentucky. It has 13 years of IRS 990 filings on record. Total revenue: $27K. No red flags identified. Financial health grade: B.
How does Prestonsburg Economic Development Foundation spend its money?
Prestonsburg Economic Development Foundation reported $27K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Prestonsburg Economic Development Foundation tax-deductible?
Prestonsburg Economic Development Foundation is registered as a tax-exempt nonprofit (EIN: 611326954). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Prestonsburg Economic Development Foundation located?
Prestonsburg Economic Development Foundation is headquartered in Prestonsburg, Kentucky and files with the IRS under EIN 611326954.
How many years of IRS 990 filings does Prestonsburg Economic Development Foundation have?
Prestonsburg Economic Development Foundation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $27K in total revenue.
Filing History
IRS 990 filing history for Prestonsburg Economic Development Foundation showing financial trends over 13 years of public records:
Total assets increased by 31.7% over the same period, from $759K to $999K. Total functional expenses fell by 8.5%, from $42K to $39K. In its most recent filing year (2023), Prestonsburg Economic Development Foundation reported a deficit of $21K, with expenses exceeding revenue. The organization holds $344K in liabilities against $999K in assets (debt-to-asset ratio: 34.5%), resulting in net assets of $655K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $17K | $39K | $999K | $344K | — | View 990 |
| 2022 | $17K | $26K | $1.0M | $339K | — | — |
| 2021 | $16K | $26K | $1.0M | $350K | — | — |
| 2020 | $25K | $21K | $1.0M | $350K | — | — |
| 2019 | $15K | $30K | $1.0M | $350K | — | View 990 |
| 2018 | $14K | $30K | $1.1M | $350K | — | View 990 |
| 2017 | $14K | $27K | $1.1M | $350K | — | View 990 |
| 2016 | $14K | $36K | $1.1M | $350K | — | View 990 |
| 2015 | $17K | $18K | $1.1M | $350K | — | View 990 |
| 2014 | $17K | $15K | $761K | $0 | — | View 990 |
| 2013 | $15K | $12K | $759K | $0 | — | View 990 |
| 2012 | $16K | $19K | $756K | $0 | — | View 990 |
| 2011 | $-32,083 | $42K | $759K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17K, expenses of $39K, and assets of $999K (revenue -0.1% year-over-year).
- 2022: Revenue of $17K, expenses of $26K, and assets of $1.0M (revenue +11.3% year-over-year).
- 2021: Revenue of $16K, expenses of $26K, and assets of $1.0M (revenue -36.8% year-over-year).
- 2020: Revenue of $25K, expenses of $21K, and assets of $1.0M (revenue +67.8% year-over-year).
- 2019: Revenue of $15K, expenses of $30K, and assets of $1.0M (revenue +3.6% year-over-year).
- 2018: Revenue of $14K, expenses of $30K, and assets of $1.1M (revenue -0.4% year-over-year).
- 2017: Revenue of $14K, expenses of $27K, and assets of $1.1M (revenue +3.6% year-over-year).
- 2016: Revenue of $14K, expenses of $36K, and assets of $1.1M (revenue -17.2% year-over-year).
- 2015: Revenue of $17K, expenses of $18K, and assets of $1.1M (revenue +0.2% year-over-year).
- 2014: Revenue of $17K, expenses of $15K, and assets of $761K (revenue +8.3% year-over-year).
- 2013: Revenue of $15K, expenses of $12K, and assets of $759K (revenue -6.1% year-over-year).
- 2012: Revenue of $16K, expenses of $19K, and assets of $756K.
- 2011: Revenue of $-32,083, expenses of $42K, and assets of $759K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Prestonsburg Economic Development Foundation:
Data Sources and Methodology
This transparency report for Prestonsburg Economic Development Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.