2021-11-12T08:47:46-06:00 2020-12-31 800874573 BREEDING HENDERSON & HORD PLLC 1050 MONARCH ST STE 300 LEXINGTON KY 405131877 990 2020-01-01 311064807 COMMUNITY VENTURES CORPORATION INC COMM 8592310054 1450 N BROADWAY LEXINGTON KY 40505 KEVIN SMITH PRESIDENT & CEO 8592310054 2021-11-15 true KEVIN SMITH 999009999 DERRICK ROGERS P01316040 8592780112 2021-11-12 2020 2022-09-23 18:48:47Z KEVIN SMITH 1450 NORTH BROADWAY LEXINGTON KY 40505 13304342 false X WWW.CVKY.ORG X 1982 KY COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION. 17 17 57 0 4346713 4998602 6731050 7723160 172142 84690 268711 -582848 11518616 12223604 4966128 44076 0 4603181 4569753 0 240420 5071894 4589123 14641203 9202952 -3122587 3020652 69660033 81412824 40529312 49221304 29130721 32191520 X COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION. false false 2937417 4684 2771659 PROVIDING LENDING ASSISTANCE TO LOW-INCOME INDIVIDUALS SEEKING FIRST TIME HOME OWNERSHIP AND LOW INCOME BUSINESS OWNERS. ADVANTAGES OF CVC'S LENDING PROGRAMS OVER CONVENTIONAL FINANCING INCLUDE: LOW DOWN PAYMENTS, FIXED INTEREST RATES, LONG TERMS, LOW INTEREST RATES, AND THE ABILITY FOR LOAN FEES TO BE FINANCED IN THE LOAN. EXAMPLES OF PROGRAMS OPERATED TO FACILITATE LENDING ASSISTANCE ARE; 1) DEPARTMENT OF TREASURY (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUNDS) - PROVIDES ASSISTANCE TO STRENGTHEN AND EXPAND COMMUNITY DEVELOPMENT TO LOW-INCOME INDIVIDUALS 2) THE COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO") - REPRESENTS FUNDS PROVIDED BY A COMMUNITY-BASED SERVICE ORGANIZATION THAT HAS SIGNIFICANT CAPACITY TO DEVELOP AFFORDABLE HOUSING FOR THE COMMUNITY IT SERVES. 1378545 39220 1138812 COMMUNITY DEVELOPMENT AND ASSISTANCE IN THE ACQUISITION AND SUBSTANTIAL REHABILITATION OF SINGLE-FAMILY HOMES FOR FIRST-TIME BUYERS. CVC HAS A LONGSTANDING COMMITMENT TO KENTUCKY'S NEIGHBORHOODS AND THE ORGANIZATION IS CONSTANTLY EXPLORING OPPORTUNITIES TO ADDRESS THE COMPLEX CHALLENGES FACED BY KENTUCKY'S COMMUNITIES. CVC ADDRESSES THE CHALLENGES THROUGH DEVELOPING PROJECTS IN UNDERSERVED AREAS, CONSTRUCTING SINGLE-FAMILY HOMES FOR FIRST- TIME HOME BUYERS, AND ASSISTING IN FINANCING AND SUPPORTING PROJECTS IN RURAL AREAS. 2960391 172 3365882 CVC ASSISTS FAMILIES ACCOMPOLISH THEIR DREAMS OF PURCHASING HOMES, REDUCING DEBT, AND INCREASING FINANCIAL LITERACY THROUGH THEIR EHOME AMERICA PLATFORM. EHOME AMERICA IS AN ONLINE FINANCIAL EDUCATION PLATFORM THAT OFFERS AFFORDABLE FINANCIAL EDUCATION TO CUSTOMERS ACROSS THE GLOBE. THE COURSES ARE OFFERED ON DEMAND AT THE CUSTOMERS CONVENIENCE. THE PLATFORM OFFERS EDUCTION IN THE FOLLOWING AREAS: 1) HOMEBUYER EDUCATION - COMPREHENSIVE 8 HOUR ONLINE HOMEBUYER COURSE THAT IS OFFERED IN ENGLISH AND SPANSISH AND SANCTIONED BY HUD AND USDA 2.) MONEY MANAGEMENT - A 2-3 HOUR COURSE WITH A PROFESSIONAL PARTNER TO ASSIST CUSTOMERS IN TAKING CONTROL OF THEIR FINANACES AND GENERATING PEACE OF MIND FOR THEIR FINANCIAL FUTURES 3.) FORECOLSURE PREVENTION - COURSE IS DESIGNED TO ASSIST CUSTOMERS NAVIGATE THE CHALLENGES OF THE FORECLOSURE PROCESS AND STEPS THAT CAN BE TAKEN TO AVOID THE LOSS OF THEIR HOME. OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS. 7276353 true true false true false false false false false false true false false false true true false true false false false false false false false false false false true true false false false false false false false false false false false false true true false false false false 96 0 true 57 true false false false false false false false false X 17 17 false false false false false false false true true false false false true true true false true true true true false KY X X COMMUNITY VENTURES COPORATION 8592310054 1450 NORTH BROADWAY LEXINGTON KY 40505 KEVIN SMITH PRESIDENT & 40.00 1.00 X 235141 0 42000 BRENDA WEAVER PRESIDENT HO 40.00 X 152227 0 20000 WILEY FAW CHIEF OPERAT 40.00 X 122532 0 35000 MILTON SHARP PRESIDENT - 40.00 X 146769 0 8500 MICHAEL BERRYMAN VP E HOME 40.00 X 111000 0 27000 DANIEL HEFFERNAN PRESIDENT NM 40.00 X 110000 0 10000 OTIS SINGLETON DIRECTOR OF 40.00 X 96100 0 12000 SHANE DARRISAW PRESIDENT MP 40.00 X 95079 0 10000 PHILLIP CAVE CONTROLLER 40.00 X 102998 0 0 JONAH BROWN PRESIDENT MA 40.00 X 95400 0 6500 BRIAN HUTCHINSON CHIEF DEV. O 40.00 X 77183 0 12500 ROBERT BURNS PRES MSTRD S 40.00 X 73340 0 6500 LOWELL SELLARDS DIRECTOR ECO 40.00 X 63850 0 9000 THOMAS MURRO PRESIDENT CH 40.00 X 63420 0 7500 MARK JOHNSON PRESIDENT OF 40.00 X 53697 0 16000 RAYMOND DANIELS DIRECTOR 1.00 X 0 0 0 CHARLES DUKE DIRECTOR 1.00 X 0 0 0 JOHN DOUGLAS DIRECTOR 1.00 X 0 0 0 ARTIE FORD DIRECTOR 1.00 X 0 0 0 MARIA HAMPTON DIRECTOR 1.00 X 0 0 0 J MICHAEL HASKINS DIRECTOR 1.00 X 0 0 0 ROBERT HENRY DIRECTOR 1.00 X 0 0 0 LARRY JOHNSON DIRECTOR 1.00 1.00 X 0 0 0 JERRY JOHNSTON DIRECTOR 1.00 X 0 0 0 JEFF KOONCE DIRECTOR 1.00 X 0 0 0 JOJUANA LEAVELL-GREENE CO-CHAIR 1.00 X X 0 0 0 REVEREND FRED MITCHELL SECRETARY 1.00 1.00 X X 0 0 0 TOM NASH DIRECTOR 1.00 X 0 0 0 LORRAIN SMOOT DIRECTOR 1.00 X 0 0 0 ARTHUR SALOMON DIRECTOR 1.00 X 0 0 0 JOHN WATZ CHAIRMAN 1.00 1.00 X X 0 0 0 DEBORAH WILLIAMS DIRECTOR 1.00 X 0 0 0 1598736 222500 7 false true false OMNI COMMERCIAL LLC 2025 LEESTOWN ROAD STE B LEXINGTON KY 40511 CONSTRUCTION 386000 ELDRIDGE BUILDERS 237 LOCUST HEIGHTS NICHOLASVILLE KY 40356 CONSTRUCTION 240929 LAW OFFICE OF MARK D FOSTER 4835 LYNDON B JOHNSON FWY 424 FARMERS BRANCH TX 75244 LEGAL 221400 LEXINGTONS REAL ESTATE CO 333 W VINE ST 300 LEXINGTON KY 40507 PROJECT MGMT 197303 THOMPSON COBURN LLP 505 N 7TH ST ST LOUIS MO 63101 LEGAL 179000 10 3349054 1649548 4998602 COUNSELING FEES 3364922 3364922 INTEREST INCOME ON LOANS 1878162 1878162 DEVELOPER FEES 1200000 1200000 MANAGEMENT FEES 458161 458161 504 FEE INCOME 377979 377979 443936 443936 7723160 32011 32011 497890 1080738 -582848 -582848 -582848 52679 52679 52679 52679 12223604 7192991 32011 44076 44076 1598736 1105248 434238 59250 1813092 1220031 521855 71206 290725 200020 81369 9336 605866 416839 169571 19456 261334 179799 73143 8392 39545 32260 735 6550 56444 2819 53625 117466 91043 26423 77790 35849 40834 1107 42462 41925 537 29637 24916 3203 1518 11530 3008 8418 104 1563481 1539625 23856 732883 725791 7092 58705 33274 25431 CONTRACTS 907907 681361 165179 61367 FEES 229135 219720 9415 PUBLICATIONS AND SUBS 204970 197366 6340 1264 BAD DEBT EXPENSE 163892 163892 353276 317491 34915 870 9202952 7276353 1686179 240420 10307305 12113818 3323583 2520226 36773516 49105038 64675 41699 22373114 4878506 18944651 17494608 139664 137435 106639 69660033 81412824 2067944 1209193 714000 129534 37638723 47810503 108645 72074 40529312 49221304 X 23178870 26695570 5951851 5495950 29130721 32191520 69660033 81412824 3020652 40147 X false true X true true true X 6650433 4820032 4026884 4346713 4998602 24842664 6650433 4820032 4026884 4346713 4998602 24842664 24842664 520729 588131 627810 134437 32011 1903118 26745782 29516302 0.92880 0.93030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 63861 63861 false SCHEDULE C, PART II-B, LINE 1 THE ORGANIZATION USED CONTRACTORS TO MAKE CONTACTS, VISITS AND OTHERWISE REPRESENT THE ORGANIZATION TO GOVERNMENTAL AGENCIES, ELECTED OFFICALS AND OTHERS ON LOCAL, STATE AND FEDERAL LEVELS AS REQUIRED. THE CONTRACTOR PROVIDED SERVICES INCLUDING ADVOCATING FOR THE ORGANIZATION AND THE ORGANIZATION'S INTEREST, AS THE ORGANIZATION DIRECTS, EDUCATING GOVERNMENTAL AGENCIES AND ELECTED OFFICALS ABOUT THE EXPERTISE, ACCOMPLISHMENTS, RESEARCH PROJECTS AND OTHER NEEDS AS IDENTIFIED BY THE ORGANIZATION. 1019775 1019775 18894116 3847267 15046849 2459223 1031239 1427984 17494608 IMPOUND LIABILITY 68350 GOOD FAITH DEPOSIT LIABILITY 3724 72074 X SCHEDULE D, PAGE 3, PART X CVC IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CVC AS A NONPROFIT ORGANIZATION IS SUBJECT TO TAXES ON GROSS UNRELATED BUSINESS INCOME LESS EXPENSES DIRECTLY CONNECTED TO THIS INCOME, SUBJECT TO A 1,000 EXEMPTION. CVC HAS NO MATERIAL SOURCES OF NET UNRELATED BUSINESS INCOME. CVP, CRP, CFC I, CHEF SPACE LLC, CV MIDLAND COMPANIES, MPACT PRO LLC, THE MET FUNDING, LLC, AND MUSTARD SEED DEVELOPMENT COMPANY, LLC, ARE SINGLE-MEMBER LIMITED LIABILITY COMPANIES AND DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES. AS A DISREGARDED ENTITY, NO SEPARATE INCOME TAX FILINGS WERE REQUIRED, AND THE INCOME AND EXPENSES ARE INCLUDED IN THE INCOME TAX RETURNS OF CVC. EFFECTIVE NOVEMBER 13, 2018, THE MET DEVELOPMENT, LNC. WAS DETERMINED TO BE A TYPE II SUPPORTING ORGANIZATION AND PUBLIC CHARITY UNDER SECTION 509 (A)(3) OF THE LNTERNAL REVENUE CODE. EFFECTIVE MAY 15, 2019, CVA WAS DETERMINED TO BE A PUBLIC CHARITY UNDER SECTION 170(B)(1)(A)(VI) OF THE LNTERNAL REVENUE CODE. THE FASB ASC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR HOW AN ENTITY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE ENTITY HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THE FASB ASC REQUIRES THAT THE FINANCIAL STATEMENTS REFLECT EXPECTED FUTURE TAX CONSEQUENCES OF SUCH POSITIONS PRESUMING THE TAXING AUTHORITIES' FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS, BUT WITHOUT CONSIDERING TIME VALUES. CVC IS SUBJECT TO ROUTINE AUDITS BY TAXING AUTHORITIES, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. UNDER FEDERAL TAX STATUTES OF LIMITATIONS, CVC BELIEVES IT IS NO LONGER SUBJECT TO FEDERAL INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO DECEMBER 31, 2017. true HOME BUYER ASSISTANCE 4 44076 BOOK false false false false false false false false false KEVIN SMITH PRESIDENT & CEO 235141 42000 277141 BRENDA WEAVER PRESIDENT HOUSING 152227 20000 172227 WILEY FAW CHIEF OPERATING OFFI 122532 35000 157532 MILTON SHARP PRESIDENT - EHOME 146769 8500 155269 FORM 990 - ORGANIZATION'S MISSION COMMUNITY VENTURES CORPORATION, INC.'S (CVC) CENTRAL MISSION IS TO PROVIDE INDIVIDUALS AND FAMILIES WITH THE SKILLS, INCOME, AND ASSETS THEY NEED TO ACHIEVE FINANCIAL INDEPENDENCE. CVC HELPS PEOPLE INCREASE INCOME AND BUILD ASSETS WITH THREE MAIN STRATEGIES: SMALL BUSINESS OWNERSHIP, HOME OWNERSHIP, AND JOB CREATION THROUGH BUSINESS EXPANSION. FORM 990, PAGE 2, PART III, LINE 4C CVC ASSISTS FAMILIES ACCOMPOLISH THEIR DREAMS OF PURCHASING HOMES, REDUCING DEBT, AND INCREASING FINANCIAL LITERACY THROUGH THEIR EHOME AMERICA PLATFORM. EHOME AMERICA IS AN ONLINE FINANCIAL EDUCATION PLATFORM THAT OFFERS AFFORDABLE FINANCIAL EDUCATION TO CUSTOMERS ACROSS THE GLOBE. THE COURSES ARE OFFERED ON DEMAND AT THE CUSTOMERS CONVENIENCE. THE PLATFORM OFFERS EDUCTION IN THE FOLLOWING AREAS: 1) HOMEBUYER EDUCATION - COMPREHENSIVE 8 HOUR ONLINE HOMEBUYER COURSE THAT IS OFFERED IN ENGLISH AND SPANSISH AND SANCTIONED BY HUD AND USDA 2.) MONEY MANAGEMENT - A 2-3 HOUR COURSE WITH A PROFESSIONAL PARTNER TO ASSIST CUSTOMERS IN TAKING CONTROL OF THEIR FINANACES AND GENERATING PEACE OF MIND FOR THEIR FINANCIAL FUTURES 3.) FORECOLSURE PREVENTION - COURSE IS DESIGNED TO ASSIST CUSTOMERS NAVIGATE THE CHALLENGES OF THE FORECLOSURE PROCESS AND STEPS THAT CAN BE TAKEN TO AVOID THE LOSS OF THEIR HOME. FORM 990, PAGE 2, PART III, LINE 4D OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 12C CVC'S CONFLICT OF INTEREST POLICY IS OUTLINED IN ITS EMPLOYEE MANUAL AND ITS NEW BOARD MEMBER PACKAGE. EACH EMPLOYEE AND BOARD MEMBER IS PROVIDED A COPY OF THESE DOCUMENTS. THEREAFTER, EMPLOYEES AND BOARD MEMBERS ARE ENCOURAGED TO REPORT ANY POTENTIAL CONFLICTS THAT THEY MAY BE INVOLVED IN OR THAT THEY MAY BECOME AWARE OF OTHER EMPLOYEES AND/OR BOARD MEMBERS FORM 990, PAGE 6, PART VI, LINE 15A ALL COMPENSATION OF OFFICERS, DIRECTORS AND KEY EMPLOYEES IS APPROVED BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 15B ALL COMPENSATION OF OFFICERS, DIRECTORS AND KEY EMPLOYEES IS APPROVED BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY & FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. COMMUNITY VENTURES PROPERTIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 205597341 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION INC COMMUNITY REINVESTMENT PROPERTIES 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION INC CVC FUNDING COMPANY I LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION INC CHEF SPACE LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION INC CV MIDLAND COMPANIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION MPACT PRO LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 COMM DEV KY CVC COMMUNITY VENTURES CORPORATION CV APPALACHIAN CDE INC 1450 N BROADWAY LEXINGTON KY 40505 814658111 COMM DEV KY 501C3 7 N/A false THE MET DEVELOPMENT INC 1450 N BROADWAY LEXINGTON KY 40505 832503851 COMM DEV KY 501C3 12B N/A false COMMUNITY VENTURES INVESTMENT XX 1450 NORTH BROADWAY LEXINGTON KY 40505 471527292 COMM DEVEL KY CVC RELATED 4 428 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVIII 1450 NORTH BROADWAY LEXINGTON KY 40505 471505692 COMM DEVEL KY CVC RELATED 4 923 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVII 1450 NORTH BROADWAY LEXINGTON KY 40505 471492788 COMM DEVEL KY CVC RELATED 3 765 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVI 1450 NORTH BROADWAY LEXINGTON KY 40505 471487844 COMM DEVEL KY CVC RELATED 8 559 false true 0.00010 COMMUNITY VENTURES INVESTMENT XV 1450 NORTH BROADWAY LEXINGTON KY 40505 460597169 COMM DEVEL KY CVC RELATED 17 595 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIX 1450 NORTH BROADWAY LEXINGTON KY 40505 471516145 COMM DEVEL KY CVC RELATED 2 812 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIV 1450 NORTH BROADWAY LEXINGTON KY 40505 460611069 COMM DEVEL KY CVC RELATED 10 762 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIII 1450 NORTH BROADWAY LEXINGTON KY 40505 455444731 COMM DEVEL KY CVC RELATED 999 false true 0.00010 false false false true false false false false false false false false false false false false false false false COMMUNITY VENTURES INVESTMENT XIII L 58740 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIV L 42118 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XV L 20521 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVI L 24300 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVII L 37328 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVIII L 53560 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIX L 47476 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XX L 22248 CONTRACTUAL AGREEMENT THE MET DEVELOPMENT INC D 317138 CASH VALUE