Central Appalachian Rural Investment Corporation
- Assets
- $173.1k
- Revenue
- $303.8k
- Investments
- $0.0
- Employees
- 0
- Location
- London, KY
- Founding
- 05/2007
- Data as of
- 12/2022
- EIN
- 20-4780639
Organization Overview
Central Appalachian Rural Investment Corporation is located in London, KY. The organization was established in 2007. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Appalachian Rural Investment Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Central Appalachian Rural Investment Corporation generated $303.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $303.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS THE SOLE MEMBER OF ECLIPSE MANAGEMENT, LLC (EIN: 20-3676183) WHICH SERVES AS THE GENERAL PARTNER OF MERITUS VENTURES, LP. MERITUS VENTURES, LP IS CERTIFIED AS A RURAL BUSINESS INVESTMENT COMPANY (RBIC) BY THE RURAL BUSINESS INVESTMENT PROGRAM (RBIP). AS GENERAL PARTNER, ECLIPSE MANAGEMENT, LLC WILL PROVIDE INVESTMENT ADVISORY SERVICES TO MERITUS VENTURES, LP TO INSURE PROGRAM RELATED COHESIVE AND PRUDENT INVESTMENTS IN THE APPALACHIAN CORRIDOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A SUPPORTING ORGANIZATION FOR TECHNOLOGY 2020, INC. NOW KNOWN AS THREE ROOTS CAPITAL, INC. A 501(C)(3) ORGANIZATION AND KENTUCKY HIGHLANDS INVESTMENT CORPORATION, A 501(C)(4) ORGANIZATION. ITS PURPOSE IS THE AMELIORATION OF POVERTY THROUGH ECONOMIC DEVELOPMENT IN THE APPALACHIAN CORRIDOR. THE ORGANIZATION ACTS AS A GENERAL PARTNER TO AN ENTITY WHICH MANAGES THE INVESTMENTS IN LOW INCOME COMMUNITIES AND THE CONTRACTS FOR MANAGEMENT SERVICES TO INSURE COHESIVE, PROGRAM RELATED INVESTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Mcdaniel Treasurer | OfficerTrustee | 1 | $0 |
Thomas Rogers Director | Trustee | 1 | $0 |
Grady Vanderhoofven Vice-President | OfficerTrustee | 1 | $0 |
L Ray Moncrief Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kentucky Highlands Investment Corp Low Income Community Investment Advisory | 12/30/22 | $167,104 |
Meritus Capital Management Llc Low Income Community Investment Advisory | 12/30/22 | $136,722 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $303,826 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $303,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,114 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $100,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $173,134 |
| Accounts payable and accrued expenses | $15 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $173,119 |
| Total liabilities and net assets/fund balances | $173,134 |