Appalachian Community Capital Corporation
- Assets
- $27.5m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Christiansburg, VA
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-2815132
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. 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 12/2021, Appalachian Community Capital Corporation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. 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
2021
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
IN DECEMBER 2020, ACC CONTRACTED WITH PIE ORG (PLANNING, IMPLEMENTATION, EVALUATION) TO ASSESS ACC'S EMERGENCY BUSINESS RESPONSE ASSISTANCE PROGRAM. THE EVALUATORS FOUND THAT THE 31 CDFIS AND MISSION-DRIVEN FINANCE LENDERS THAT WERE AWARDED GRANTS FROM ACC USED THE FUNDS TO CONTINUE TO SERVE THEIR COMMUNITIES WITH ACCESS TO CAPITAL, LOAN PAYMENT RELIEF, AND GUIDANCE. AFTER RECEIVING THE GRANTS, THE GRANTEE'S SERVED 9,451 UNIQUE BUSINESSES OR NONPROFITS. GRANTEE'S SERVED 9,726 BUSINESSES OR NONPROFITS THAT ARE STILL IN BUSINESS. THE GRANTS RECEIVED HELPED TO RETAIN 40,380 JOBS AND HELPED FINANCE 5,635 NEW OR MODIFIED LOANS INCREASING INVESTMENTS BY $430,305,718. THE FUNDS CONTRIBUTED TO THE ORGANIZATIONS' ABILITY TO ACHIEVE THESE RESULTS ACROSS THE APPALACHIAN REGION.
ACC AND ITS MEMBERS CONTINUE TO SUPPORT THE CREDIT NEEDS OF SMALL BUSINESSES IN APPALACHIA. FROM 2015 THROUGH JUNE 30, 2022, MEMBERS REPORTED THAT THEY HAD USED ACC PROCEEDS TO MAKE 107 SMALL BUSINESS LOANS RANGING FROM $10,000 TO $3 MILLION, 50 (OR 48%) OF WHICH WERE TO MINORITY- OR WOMEN-OWNED BUSINESSES. MEMBERS REPORT THAT THE SMALL BUSINESSES THEY FINANCED HAVE HELPED TO CREATE OR RETAIN 2,096 JOBS, 41 PERCENT OF WHICH ARE OCCUPIED BY LOW-INCOME PEOPLE.
ACC ALSO LED OPPORTUNITY APPALACHIA, AN INITIATIVE FUNDED, IN PART, BY THE APPALACHIAN REGIONAL COMMISSION TO HELP LOCAL PARTNERS ACROSS THE REGION OBTAIN ADVISORY SERVICES AND DEVELOP SOPHISTICATED INVESTMENT PROSPECTUS GEARED TOWARD PROSPECTIVE OPPORTUNITY ZONE INVESTORS. 16 PROJECTS RECEIVED TECHNICAL ASSISTANCE, THE STRUCTURING OF PROJECT FINANCING, MARKET RESEARCH, OPERATIONS PLANNING, AND INVESTOR OUTREACH, AND SEVERAL HAVE ALREADY RECEIVED FINANCING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Gambrell President & CEO | OfficerTrustee | 40 | $219,502 |
Ray Christman Director | OfficerTrustee | 3 | $0 |
Marten Jenkins Treasurer | OfficerTrustee | 3 | $0 |
Clinton B Gwin Board Chairman | OfficerTrustee | 3 | $0 |
Lori Chatman Secretary | OfficerTrustee | 3 | $0 |
Grace Fricks Director | Trustee | 3 | $0 |
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 | $1,651,158 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,651,158 |
| Total Program Service Revenue | $0 |
| Investment income | $534,967 |
| 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 | $2,186,125 |
| 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. | $219,502 |
| Compensation of current officers, directors, key employees. | $32,925 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,105 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,568 |
| 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 | $984,956 |
| Advertising and promotion | $2,500 |
| Office expenses | $33 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,018 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $439,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $695 |
| Insurance | $4,254 |
| All other expenses | $901 |
| Total functional expenses | $1,765,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,098,547 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $349,906 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,967,101 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,356 |
| Net Land, buildings, and equipment | $91 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,920 |
| Total assets | $27,470,921 |
| Accounts payable and accrued expenses | $120,385 |
| Grants payable | $0 |
| Deferred revenue | $3,354,000 |
| 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 | $19,250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,356 |
| Total liabilities | $22,725,741 |
| Net assets without donor restrictions | $1,758,180 |
| 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 | $27,470,921 |
Grants Awarded
Over the last fiscal year, Appalachian Community Capital Corporation has awarded $3,464,825 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
Berea, KY PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $200,000 |
Charles Town, WV PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $200,000 |
Nashville, TN PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $166,000 |
Cleveland, GA PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $150,000 |
Pittsburgh, PA PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $150,000 |
Greenville, SC PURPOSE: EMERGENCY BUSINESS ASSISTANCE GRANT | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Appalachian Community Capital Corporation has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
Truist Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Medical Group Association Inc Alexandria, VA | $19,689,445 | $10,462,815 |
National Association Of Counties Research Foundation Washington, DC | $4,701,784 | $7,841,848 |
Disability In Alexandria, VA | $11,237,053 | $8,690,736 |
American Exploration & Production Council Inc Washington, DC | $3,854,447 | $3,454,624 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Felix E Martin Jr Foundation Inc Louisville, KY | $76,641,628 | $5,817,946 |
Umb Health Sciences Research Park Corporation Baltimore, MD | $16,268,947 | $1,917,755 |
Appalachian Community Capital Corporation Christiansburg, VA | $27,470,921 | $2,186,125 |
Business Council Washington, DC | $16,313,197 | $5,445,513 |
Responsible Business Alliance Foundation Alexandria, VA | $1,775,206 | $1,733,955 |
Massanetta Springs Inc Harrisonburg, VA | $9,619,068 | $2,786,663 |
Commodity Market Council Washington, DC | $947,159 | $1,056,049 |