2020-11-16T13:34:45-06:00 2019-12-31 800874573 BREEDING HENDERSON & HORD PLLC 1050 MONARCH ST STE 300 LEXINGTON KY 405131877 990 2019-01-01 311064807 COMMUNITY VENTURES CORPORATION INC COMM 8592310054 1450 N BROADWAY LEXINGTON KY 40505 KEVIN SMITH PRESIDENT & CEO 8592310054 2020-11-15 true DERRICK ROGERS P01316040 8592780112 2020-11-05 162.221.223.241 2020-11-16 13:34:45 CS P 508A680F0A22F0C4B65B93C61535F04E9E3DFAAC 508A680F0A22F0C4B65B93C61535F04E9E3DFAAC 2019 2021-01-29 14:40:06Z KEVIN SMITH 1450 NORTH BROADWAY LEXINGTON KY 40505 12759090 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 70 0 4026884 4346713 5736228 6731050 52899 172142 -190157 268711 9625854 11518616 24674 4966128 0 4763820 4603181 0 248151 4249205 5071894 9037699 14641203 588155 -3122587 68707565 69660033 36153394 40529312 32554171 29130721 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 2978441 2650535 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. 6664225 4966128 1510021 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. 2522222 2654354 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. 754737 222556 OTHER SIGNIFICANT SERVICES PROVIDE BY THE ORGANIZATION INCLUDE PROPERTY MANAGEMENT AND RENTAL OF PROPTERY IS SIGNIFICANTLY ECONOMICALLY DISTRESSED AREAS. 754737 222556 12919625 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 true true true false false false false false false false false false false false false true true false false false false 72 0 true 70 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 224278 0 41203 BRENDA WEAVER PRESIDENT HO 40.00 X 151960 0 19379 WILEY FAW CHIEF OPERAT 40.00 X 119542 0 34423 MILTON SHARP PRESIDENT - 40.00 X 135298 0 8140 LISA ANN CHANEY DIRECTOR OF 40.00 X 116327 0 16996 MICHAEL BERRYMAN VP E HOME 40.00 X 101252 0 26778 PHILLIP CAVE CONTROLLER 40.00 X 102647 0 0 OTIS SINGLETON DIRECTOR OF 40.00 X 86328 0 11223 DANIEL HEFFERNAN PRESIDENT NM 40.00 X 86675 0 7194 ROBERT BURNS PRES MSTRD S 40.00 X 72407 0 5793 JONAH BROWN PRESIDENT MA 40.00 X 70679 0 5654 MARK JOHNSON PRESIDENT OF 40.00 X 53908 0 15839 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 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 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 X X 0 0 0 DEBORAH WILLIAMS DIRECTOR 1.00 X 0 0 0 1321301 192622 7 false true false EOP ARCHITECTS PSC 201 W SHORT ST 700 LEXINGTON KY 40507 ARCH. DESIGNS 503153 ELDRIDGE BUILDERS 237 LOCUST HEIGHTS NICHOLASVILLE KY 40356 CONSTRUCTION 320456 OMNI COMMERCIAL LLC 2025 LEESTOWN ROAD STE B LEXINGTON KY 40511 CONSTRUCTION 300732 STITES AND HARBISON PLLC 250 W MAIN ST 2300 LEXINGTON KY 40507 LEGAL 269567 THOMPSON COBURN LLP 505 N 7TH ST ST LOUIS MO 63101 LEGAL 150000 5 3833943 512770 4346713 COUNSELING FEES 2654354 2654354 INTEREST INCOME ON LOANS 1556495 1556495 DEVELOPER FEES 1203605 1203605 NMTC FEES 513248 513248 504 FEE INCOME 326732 326732 476616 476616 6731050 134437 134437 593402 307034 286368 286368 286368 37705 37705 37705 37705 915783 933440 -17657 -17657 11518616 7037466 134437 4953558 4953558 12570 12570 1321301 938124 317112 66065 2074582 1431613 524547 118422 245792 174512 58990 12290 676195 482498 162916 30781 285311 202571 68475 14265 104385 102375 2010 48189 850 47339 72853 72853 176787 163241 13546 114740 79935 34218 587 133185 132339 846 104500 93934 5997 4569 33892 15028 17793 1071 1437828 1392321 45507 755855 739490 16365 58979 33490 25489 CONTRACTS 852357 759178 93179 FEES 240745 231281 9464 BAD DEBT EXPENSE 236771 236771 MISCELLANEOUS 224811 220127 4684 476017 450966 24950 101 14641203 12919625 1473427 248151 11223988 10307305 3175943 3323583 31593491 36773516 38285 64675 22976039 4031388 22455551 18944651 107035 139664 113272 106639 68707565 69660033 1586086 2067944 329947 714000 34141895 37638723 95466 108645 36153394 40529312 X 26653021 23178870 5901150 5951851 32554171 29130721 68707565 69660033 X -3122587 24547 -325410 X false true X true true true X 6287526 6650433 4820032 4026884 4346713 26131588 6287526 6650433 4820032 4026884 4346713 26131588 26131588 86396 520729 588131 627810 134437 1957503 28089091 21295252 0.93030 0.93030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 72853 72853 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. 990747 990747 20080929 3259849 16821080 1904363 771539 1132824 18944651 IMPOUND LIABILITY 74326 GOOD FAITH DEPOSIT LIABILITY 34319 108645 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, AND THE MET FUNDING, 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, INC. WAS DETERMINED TO BE A PUBLIC CHARITY UNDER SECTION 509 (A)(3) OF THE INTERNAL REVENUE CODE. EFFECTIVE MAY 15, 2019, CVA WAS DETERMINED TO BE A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL 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, 2016. true THE MET DEVELOPMENT INC 1450 N BROADWAY LEXINGTON KY 40505 832503851 501C3 4953558 FMV REAL ESTATE FUR. OF MISSION HOME BUYER ASSISTANCE 1 12570 BOOK false false false false false false false false false KEVIN SMITH PRESIDENT & CEO 224278 41203 265481 BRENDA WEAVER PRESIDENT HOUSING 151960 19379 171339 WILEY FAW CHIEF OPERATING OFFI 119542 34423 153965 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. FORM 990, PART XI, LINE 9 LOAN LOSS RESERVES -325,410 INCREASE IN LOAN LOSS RESERVES EXPENSED ON BOOKS NOT DEDUCTIBLE ON RETURN. COMMUNITY VENTURES PROPERTIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 205597341 KY CVC COMMUNITY VENTURES CORPORATION INC COMMUNITY REINVESTMENT PROPERTIES 1450 NORTH BROADWAY LEXINGTON KY 40505 KY CVC COMMUNITY VENTURES CORPORATION INC CVC FUNDING COMPANY I LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 KY CVC COMMUNITY VENTURES CORPORATION INC CHEF SPACE LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 KY CVC COMMUNITY VENTURES CORPORATION INC CV MIDLAND COMPANIES LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 KY CVC COMMUNITY VENTURES CORPORATION MPACT PRO LLC 1450 NORTH BROADWAY LEXINGTON KY 40505 KY CVC COMMUNITY VENTURES CORPORATION CV APPALACHIAN CDE INC 1450 N BROADWAY LEXINGTON KY 40505 814658111 KY 501C3 7 N/A false THE MET DEVELOPMENT INC 1450 N BROADWAY LEXINGTON KY 40505 832503851 KY 501C3 12B N/A false COMMUNITY VENTURES INVESTMENT XII 1450 NORTH BROADWAY LEXINGTON KY 40505 272374630 COMM DEVEL KY CVC RELATED 8 1056 false true 0.00010 COMMUNITY VENTURES INVESTMENT XX 1450 NORTH BROADWAY LEXINGTON KY 40505 471527292 COMM DEVEL KY CVC RELATED 4 424 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVIII 1450 NORTH BROADWAY LEXINGTON KY 40505 471505692 COMM DEVEL KY CVC RELATED 4 909 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVII 1450 NORTH BROADWAY LEXINGTON KY 40505 471492788 COMM DEVEL KY CVC RELATED 3 755 false true 0.00010 COMMUNITY VENTURES INVESTMENT XVI 1450 NORTH BROADWAY LEXINGTON KY 40505 471487844 COMM DEVEL KY CVC RELATED 8 551 false true 0.00010 COMMUNITY VENTURES INVESTMENT XV 1450 NORTH BROADWAY LEXINGTON KY 40505 460597169 COMM DEVEL KY CVC RELATED 17 578 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIX 1450 NORTH BROADWAY LEXINGTON KY 40505 471516145 COMM DEVEL KY CVC RELATED 2 799 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIV 1450 NORTH BROADWAY LEXINGTON KY 40505 460611069 COMM DEVEL KY CVC RELATED 10 678 false true 0.00010 COMMUNITY VENTURES INVESTMENT XIII 1450 NORTH BROADWAY LEXINGTON KY 40505 455444731 COMM DEVEL KY CVC RELATED 991 false true 0.00010 THE KENTUCKY NWA ALLIANCE 1512 CRUMS LANE STE 401 LOUISVILLE KY 40216 461181159 COMM DEVEL KY CVC RELATED -345 178 false true 0.20000 false true false true false false false false false false false true false false false false false false false COMMUNITY VENTURES INVESTMENT XII L 68334 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIII L 66981 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIV L 50359 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XV L 20762 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVI L 32541 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVII L 45569 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XVIII L 61801 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XIX L 55717 CONTRACTUAL AGREEMENT COMMUNITY VENTURES INVESTMENT XX L 25465 CONTRACTUAL AGREEMENT THE MET DEVELOPMENT INC B 4953558 FMV THE MET DEVELOPMENT INC D 33273 CASH VALUE