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.
Form
990
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Clinton B Gwin Chair | OfficerTrustee | 3 | $0 |
Marten Jenkins Treasurer | OfficerTrustee | 3 | $0 |
Neill S Wright Secretary | OfficerTrustee | 3 | $0 |
Clyde Cornett Director | Trustee | 3 | $0 |
Grace Fricks Director | Trustee | 3 | $0 |
Raymond Christman Director | Trustee | 3 | $0 |
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 |
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. | $386,372 |
Compensation of current officers, directors, key employees. | $57,956 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $12,651 |
Payroll taxes | $25,824 |
Fees for services: Management | $0 |
Fees for services: Legal | $20,852 |
Fees for services: Accounting | $32,114 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,898,899 |
Advertising and promotion | $0 |
Office expenses | $3,147 |
Information technology | $42,369 |
Royalties | $0 |
Occupancy | $0 |
Travel | $31,891 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $540,579 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,042 |
Insurance | $4,483 |
All other expenses | $31,900 |
Total functional expenses | $4,263,882 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,203,628 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $801,649 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $25,032,306 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $39,848 |
Net Land, buildings, and equipment | $2,296 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $61,432 |
Total assets | $29,141,159 |
Accounts payable and accrued expenses | $99,559 |
Grants payable | $0 |
Deferred revenue | $1,398,327 |
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 | $22,603,112 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $63,967 |
Total liabilities | $24,164,965 |
Net assets without donor restrictions | $1,989,194 |
Net assets with donor restrictions | $2,987,000 |
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 | $0 |
Total liabilities and net assets/fund balances | $29,141,159 |
Over the last fiscal year, Appalachian Community Capital Corporation has awarded $3,464,825 in support to 30 organizations.
Grant Recipient | Amount |
---|---|
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 |