Better Business Bureau Report for
Louisville Community Initiative

Better Business Bureau Report issued October 2008
Better Business Bureau Report expires October 2011


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Louisville Community Initiative
Address: 200 W Broadway, Suite 512
  Louisville, KY 40202
Phone: 502-581-9620
Web Address: www.louisvilleinitiative.org
Also known as:The Louisville Community Initiative
Self Sufficiency Inc
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Better Business Bureau Comments

Year, State Incorporated: 1996, Kentucky
Affiliates: None

Stated Purpose: The mission of Self Sufficiency, Inc., doing business as the Louisville Community Initiative is to create a systematic method for moving youth and young families towards self-sufficiency by focusing on job development, improved access to career path training and employment, and prevention activities.

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Evaluation Conclusions

               

Louisville Community Initiative does not meet the following 1 Standard for Charity Accountability.

Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $250,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $250,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $100,000, an internally produced, complete financial statement is sufficient to meet this standard.

  • This organization does not meet this Standard because it states it does not have audited financial statements for the past fiscal year.
Louisville Community Initiative meets the remaining 19 Standards for Charity Accountability.
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Programs

               

Self Sufficiency, Inc., doing business as the Louisville Community Initiative, is a nonprofit that was created to find and develop systematic approaches to move young families to self-sufficiency. The thrust of LCI is job development and improved access to career path opportunities.

For the fiscal year ended December 31, 2007, the Louisville Community Initiative's program expenses were:

  
Program services 285,551
Total Program Expenses: $285,551
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Governance

               

Chief Executive : John Fleming, President
Compensation*:
 $110,000

Chair of the Board: Raymond Weis
Chair's Profession / Business Affiliation: CEO, Dismas Charities

Board Size: 6

Paid Staff Size: 3

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

The organization's primary method of fund raising are grant proposals.
Fund raising costs were 3% of related contributions. (Related contributions, which totaled $362,284, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on the agency’s IRS Form 990 for the year that ended December 31, 2007.

Ending net assets as reported are unrestricted net assets.

Total assets as reported include $356,851 invested in property, land, and equipment.







Source of Funds  
Contributions, gifts, grants and similar amounts received 362,284
Total Income $362,284


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Uses of Funds as a % of Total Expenses

Programs: 84%  Fund Raising: 3%  Administrative: 13% 

Total income   $362,284
  Program expenses $285,551
  Fund raising expenses 11,593
  Administrative expenses 46,056
 
Total expenses   $343,200
Income in Excess of Expenses   19,084
Beginning net assets   198,381
Other Changes in Net Assets (42,092)
Ending net assets   175,373
Total liabilities   183,041
Total assets   $358,414


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

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