Invest Appalachia Inc
- Assets
- $3.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 2
- Location
- Asheville, NC
- Founding
- 01/2020
- Data as of
- 12/2023
- EIN
- 84-2748180
Organization Overview
Invest Appalachia Inc is located in Asheville, NC. The organization was established in 2020. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. As of 12/2023, Invest Appalachia Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest Appalachia Inc 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, Invest Appalachia Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 70.8% each year . All expenses for the organization totaled $2.3m 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
INVEST APPALACHIA (IA) IS A REGIONAL IMPACT INVESTMENT PLATFORM DESIGNED BY AND FOR THE PEOPLE OF CENTRAL APPALACHIA. IA PROVIDES BLENDED INVESTMENT CAPITAL TO STRENGTHEN BUSINESS OPPORTUNITIES, BUILD EQUITABLE LOCAL WEALTH, ADVANCE CRITICAL SECTORS, AND INCREASE QUALITY OF LIFE FOR EVERYONE IN CENTRAL APPALACHIA. IA WAS INITIATED THROUGH THE APPALACHIA FUNDERS NETWORK AND DEVELOPED BY A COLLABORATIVE GROUP OF REGIONAL LEADERS REPRESENTING CDFIS, PUBLIC AND PRIVATE PHILANTHROPIC ENTITIES, LOCAL INSTITUTIONS, AND COMMUNITY ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST APPALACHIA AIMS TO CHANGE THE RELATIONSHIP BETWEEN COMMUNITIES AND CAPITAL. WE ARE COMMITTED TO A STRATEGY THAT TAKES THE BEST OF IMPACT INVESTING AND MAKES IT WORK FOR APPALACHIA - PUTTING IMPACT FIRST. INVEST APPALACHIA SUPPORTS ECONOMIC DIVERSIFICATION AND MARKET GROWTH THAT IS LOCALLY-ROOTED, INCLUSIVE, AND SUSTAINABLE, WHILE INCREASING THE REGIONS OVERALL CAPACITY AND INVESTABILITY. AND WE ARE COMMITTED TO A PROCESS AND STRUCTURE THAT IS ROOTED IN OUR FOUNDING VALUES: PARTICIPATORY, DEMOCRATIC, AND TRANSPARENT, WITH A FOCUS ON INCREASING RACIAL, GENDER, & SOCIOECONOMIC EQUITY, ECONOMIC SELF- SUFFICIENCY, AND LOCAL WEALTH-BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Crosson Executive Di | OfficerTrustee | 40 | $120,200 |
Zurilma Anuel Board Member | Trustee | 5 | $0 |
Michelle Foster Board Member | Trustee | 5 | $0 |
Earl Gohl Board Member | Trustee | 5 | $0 |
Karen Jacobson Board Member | Trustee | 5 | $0 |
Sara Morgan Board Treasu | OfficerTrustee | 5 | $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 | $1,264,027 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,264,027 |
| Total Program Service Revenue | $556,456 |
| Investment income | $97,153 |
| 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 | $1,917,636 |
| 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. | $120,200 |
| Compensation of current officers, directors, key employees. | $18,590 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,509 |
| Payroll taxes | $15,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,873 |
| Fees for services: Accounting | $25,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $335,371 |
| Fees for services: Other | $126,708 |
| Advertising and promotion | $0 |
| Office expenses | $18,191 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,100 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,061 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,184 |
| All other expenses | $1,523,970 |
| Total functional expenses | $2,340,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,017,301 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,562 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $425 |
| Total assets | $3,020,288 |
| Accounts payable and accrued expenses | $621,828 |
| 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 | $621,828 |
| Net assets without donor restrictions | -$233,360 |
| Net assets with donor restrictions | $2,631,820 |
| 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 | $3,020,288 |