Appalachian Opportunity Fund
- Assets
- $128.4k
- Revenue
- $321.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Johnson City, TN
- Founding
- 01/2019
- Data as of
- 12/2023
- EIN
- 83-0920796
Organization Overview
Appalachian Opportunity Fund is located in Johnson City, TN. The organization was established in 2019. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Appalachian Opportunity Fund employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Appalachian Opportunity Fund 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 12/2023, Appalachian Opportunity Fund generated $321.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $311.7k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE FINANCIAL HEALTH OF ASSET-LIMITED, INCOME-CONSTRAINED PEOPLE IN NOURTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; TO ENSURE AVAILABILITY AND DEVELOPMENT OF AFFORDABLE HOUSING TO LOW-TO-MODERATE INCOME HOUSEHOLDS IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; AND TO ALLEVIATE POVERTY AND COMBAT COMMUNITY DETERIORATION IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE FINANCIAL HEALTH OF ASSET-LIMITED, INCOME-CONSTRAINED PEOPLE IN NOURTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; TO ENSURE AVAILABILITY AND DEVELOPMENT OF AFFORDABLE HOUSING TO LOW-TO-MODERATE INCOME HOUSEHOLDS IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; AND TO ALLEVIATE POVERTY AND COMBAT COMMUNITY DETERIORATION IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA.
TO IMPROVE FINANCIAL HEALTH OF ASSET-LIMITED, INCOME-CONSTRAINED PEOPLE IN NOURTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; TO ENSURE AVAILABILITY AND DEVELOPMENT OF AFFORDABLE HOUSING TO LOW-TO-MODERATE INCOME HOUSEHOLDS IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA; AND TO ALLEVIATE POVERTY AND COMBAT COMMUNITY DETERIORATION IN NORTHEAST TENNESSEE, SOUTHEAST KENTUCKY, AND SOUTHWEST VIRGINIA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria Hewlett Executive Di | Trustee | 40 | $63,100 |
Lauren Clemson Board Member | Trustee | 1 | $0 |
Chad Covert Treasurer | Trustee | 1 | $0 |
Aaron Duffy Board Member | Trustee | 20 | $0 |
Jessica Edmisten Board Member | Trustee | 1 | $0 |
Rachel Irwin Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $153,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $78,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,918 |
| Total Program Service Revenue | $89,252 |
| Investment income | $622 |
| 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 | $321,792 |
| 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 | $237,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,987 |
| 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 | $1,031 |
| Office expenses | $1,860 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,096 |
| 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 | $14,000 |
| Insurance | $1,722 |
| All other expenses | $1,827 |
| Total functional expenses | $311,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $423 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,355 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $128,402 |
| Accounts payable and accrued expenses | $0 |
| 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 | $692 |
| Total liabilities | $692 |
| 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 | $127,710 |
| Total liabilities and net assets/fund balances | $128,402 |