Appalachian Community Capital Corporation

Organization Overview

Appalachian Community Capital Corporation is located in Christiansburg, VA. The organization was established in 2014. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Appalachian Community Capital Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Appalachian Community Capital Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2023, Appalachian Community Capital Corporation generated $4.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Appalachian Community Capital Corporation has awarded 30 individual grants totaling $3,464,825. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

AID COMMUNITY AND ECONOMIC DEVELOPMENT IN APPALACHIA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

2023 WAS A BIG YEAR FOR APPALACHIAN COMMUNITY CAPITAL. FOUNDED IN 2013, THE CDFI CELEBRATED TEN YEARS OF BRINGING NEW SOURCES OF CAPITAL TO ITS MEMBERS TO FINANCE SMALL BUSINESSES IN APPALACHIA. MEMBERSHIP GREW TO 35 CDFIS AND OTHER MISSION-ALIGNED LENDERS. ALSO, THE ORGANIZATION LAUNCHED A PILOT PROJECT TO STRENGTHEN THE DATA ANALYTICS THAT ARE AVAILABLE TO CDFIS SEEKING TO SUPPORT BIPOC AND RURAL ENTREPRENEURS. IN ADDITION, ACC DEPLOYED $1 MILLION THROUGH A VETERAN LOAN FUND, AND IT JOINED FORCES WITH A NATIONAL NON PROFIT TO BEGIN RAISING FUNDS TO HELP BRIDGE THE DIGITAL DIVIDE THROUGHOUT APPALACHIA.ACC AND ITS MEMBERS CONTINUE TO SUPPORT THE CREDIT NEEDS OF SMALL BUSINESSES IN APPALACHIA. FROM 2015, WHEN ACC FIRST BEGAN LENDING, THROUGH DECEMBER 31, 2023, MEMBERS REPORTED THAT THEY HAD USED ACC CAPITAL TO MAKE 211 SMALL BUSINESS LOANS RANGING FROM $10,000 TO $3 MILLION, 124 (OR 59%) OF WHICH WERE TO MINORITY- OR WOMEN-OWNED BUSINESSES. MEMBERS REPORTED THAT THE SMALL BUSINESSES THEY FINANCED HAVE HELPED TO CREATE OR RETAIN 3,257 JOBS.SINCE 2019, AN ACC-LED INITIATIVE--OPPORTUNITY APPALACHIA-- HAS HELPED LOCAL PARTNERS ACROSS THE REGION OBTAIN ADVISORY SERVICES AND DEVELOP SOPHISTICATED INVESTMENT PROSPECTUS GEARED TOWARD PROSPECTIVE INVESTORS. UNDER PHASE 1 (2019-21) AND PHASE 2 (2021-23) 58 PROJECTS HAVE RECEIVED/ARE RECEIVING TECHNICAL ASSISTANCE IN THE STRUCTURING OF PROJECT FINANCING, MARKET RESEARCH, OPERATIONS PLANNING, INVESTOR OUTREACH AND OTHER SUPPORT. SEVERAL PROJECTS HAVE ALREADY RECEIVED FINANCING. IN SEPTEMBER 2023, ACC RECEIVED A $1.5 MILLION GRANT FROM THE APPALACHIAN REGIONAL COMMISSION TO LAUNCH THE THIRD PHASE OF THIS SUCCESSFUL PROGRAM; THE GRANT WAS MATCHED BY GOVERNMENT, BANK AND PRIVATE FOUNDATION PARTNERS. UNDER PHASE 3 (2023-2025), ADDITIONAL PROJECTS WILL BE CHOSEN THAT AIM TO INCREASE JOB GROWTH, BUSINESS SUPPORT, AND INVESTMENT IN CENTRAL APPALACHIA.TOWARD THE END OF 2023, ACC COLLABORATED WITH REGIONAL AND NATIONAL ORGANIZATIONS TO APPLY FOR THE CLEAN COMMUNITIES INVESTMENT ACCELERATOR, PART OF THE U.S. ENVIRONMENTAL PROTECTION AGENCY'S HISTORIC $27 BILLION GREENHOUSE GAS REDUCTION FUND. THIS ACTION MARKED THE EXPANSION OF ACC'S MISSION TO INCREASE ACCESS TO CAPITAL FOR THE RAPID DEPLOYMENT OF LOW- AND ZERO- EMISSION PRODUCTS, TECHNOLOGIES, AND SERVICES AND TO CREATE MEANINGFUL ECONOMIC OPPORTUNITY IN ENERGY COMMUNITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Clinton B Gwin
Chair
$0
Marten Jenkins
Treasurer
$0
Neill S Wright
Secretary
$0
Clyde Cornett
Director
$0
Grace Fricks
Director
$0
Raymond Christman
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,768,485
All other contributions, gifts, grants, and similar amounts not included above$852,574
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,621,059
Total Program Service Revenue$0
Investment income $690,136
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 $4,344,653

Grants Awarded

Over the last fiscal year, Appalachian Community Capital Corporation has awarded $3,464,825 in support to 30 organizations.

Grant RecipientAmount

ALTERNATIVES FEDERAL CREDIT UNION

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$120,000

APPALACHIAN GROWTH CAPITAL

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$150,000

ACCESS TO CAPITAL FOR ENTREPRENEURS

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$150,000

BRIDGEWAY CAPITAL INC

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$150,000

CAROLINA SMALL BUSINESS DEVELOPMENT FUND

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$100,000

CENTER FOR RURAL HEALTH DEVELOPMENT DC

PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT

$117,000
View Grant Profile

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$4,344,653
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Consumer Technology Association Foundation
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Friends Of Dream Big Foundation Inc
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$740,000
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$350,004
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Southern Appalachian Labor School Foundation Incorporated
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Society Of Women Engineers Endowment Fund Inc
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National Assoc Of Elementary School Principals Foundation
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Cornet Association Of America
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Alexandria Small Business Development Center
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