2024-09-16T10:11:16-05:00 2023-12-31 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2023-01-01 462815132 APPALACHIAN COMMUNITY CAPITAL CORPORATION APPA 2027793083 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 DONNA GAMBRELL PRESIDENT & CEO 5402603503 2024-07-30 1 1 PATRICK PITTMAN P00587461 5403450936 2024-07-30 2023 2024-08-08 14:25:15Z DONNA GAMBRELL 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 4344653 0 X WWW.APPALACHIANCOMMUNITYCAPITALCDFI.ORG X 2013 VA AID COMMUNITY AND ECONOMIC DEVELOPMENT IN APPALACHIA. 8 7 2 0 0 0 1541059 3621059 0 0 505311 690136 5000 33458 2051370 4344653 0 0 0 0 277524 424847 0 0 0 1415540 3839035 1693064 4263882 358306 80771 28945608 29141159 24157185 24164965 4788423 4976194 X APPALACHIAN COMMUNITY CAPITAL'S (ACC) MISSION IS TO INCREASE SMALL BUSINESS LENDING BY PROVIDING APPALACHIAN MEMBER INSTITUTIONS THAT SERVE UNDERSERVED PEOPLE AND COMMUNITIES WITH NEW SOURCES OF CAPITAL. OUR WORK ENABLES RELIABLE AND SUFFICIENT CAPITAL FOR ALL OF ITS MEMBERS, LEADING TO A GROWING ECONOMY, INCREASED ENTREPRENEURSHIP, HIGHER QUALITY JOBS, AND INCREASED LOCAL WEALTH IN THE APPALACHIAN REGION. 0 0 3109286 33458 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. 3109286 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 34 0 1 2 1 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X DONNA GAMBRELL 5402603503 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 CLINTON B GWIN CHAIR 3.00 X X 0 0 0 MARTEN JENKINS TREASURER 3.00 X X 0 0 0 NEILL S WRIGHT SECRETARY 3.00 X X 0 0 0 CLYDE CORNETT DIRECTOR 3.00 X 0 0 0 GRACE FRICKS DIRECTOR 3.00 X 0 0 0 RAYMOND CHRISTMAN DIRECTOR 3.00 X 0 0 0 MATT RAKER DIRECTOR 3.00 X 0 0 0 LORI CHATMAN DIRECTOR 3.00 X 0 0 0 DONNA GAMBRELL PRESIDENT & CEO 40.00 X X 237328 0 0 JULIA J PARKER CHIEF LENDING OFFICER 40.00 X 149043 0 11000 386371 0 11000 2 0 1 0 0 2768485 852574 3621059 690136 690136 OTHER INCOME 522291 33458 33458 33458 4344653 33458 0 690136 X 386372 328416 57956 12651 10753 1898 25824 21950 3874 20852 13902 6950 32114 21410 10704 2898899 1932696 966203 3147 2675 472 42369 36014 6355 31891 27107 4784 540579 540579 1042 886 156 4483 3811 672 LOAN EXPENSE 78883 9466 69417 DATA PROCESSING 62938 53497 9441 DONATIONS 55000 55000 DUES & SUBSCRIPTIONS 34938 29697 5241 31900 21427 10473 4263882 3109286 1154596 0 7902012 3203628 470185 801649 20520382 25032306 4189 39848 4919 2623 1468 2296 47372 61432 28945608 29141159 208560 99559 2013101 1398327 21933055 22603112 2469 63967 24157185 24164965 X 1801423 1989194 2987000 2987000 4788423 4976194 28945608 29141159 X 80771 107000 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4919 2623 2296 2296 PAYROLL TAX LIABILITIES 5046 ACCRUED INTEREST PAYABLE 58921 63967 PART X, LINE 2: THE COMPANY IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS AND HAS NOT ACCRUED ANY EXPENSE FOR THE EFFECT OF AN UNCERTAIN TAX POSITION AS OF DECEMBER 31, 2023. TAX YEARS BEGINNING IN 2019 ARE OPEN TO EXAMINATION BY TAXING AUTHORITIES. X 0 0 0 0 0 0 0 0 0 DONNA GAMBRELL PRESIDENT & CEO 237328 0 0 0 0 0 0 0 0 0 237328 0 0 0 JULIA J PARKER CHIEF LENDING OFFICER 147543 0 1500 0 0 0 0 0 11000 0 160043 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED 990 WILL BE PROVIDED TO THE BOARD PRIOR TO THE FILING DEADLINE. THE RETURN WILL BE REVIEWED AND SIGNED BY THE PRESIDENT & CEO, WHO IS ENTRUSTED BY THE BOARD FOR HER REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THERE IS A FORMAL QUESTIONNAIRE ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST. THE PROCESS HAS BEEN DESIGNED TO ACCOMMODATE ALL PRESENT CONFLICT OF INTEREST ISSUES. ANY PERSON WITH A POTENTIAL CONFLICT OF INTEREST RECUSES THEMSELVES FROM ALL DISCUSSION AND OR VOTE ON THE MATTER IN QUESTION. ADDITIONALLY, LENDING DECISIONS ARE MADE BY INDEPENDENT MEMBERS. FORM 990, PART VI, SECTION B, LINE 15A IN ORDER TO ENSURE REASONABLENESS, COMPENSATION IS BASED ON THE SALARY RANGES FOR ALL COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS ("CDFI") REPRESENTED, ADJUSTED FOR SIZE AND SCOPE. SALARIES ARE ULTIMATELY DETERMINED BY THE INDEPENDENT BOARD AND ALL DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 1,932,696. MANAGEMENT AND GENERAL EXPENSES 966,203. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,898,899. FORM 990, PART XI, LINE 9: IMPACT OF ADOPTION OF ASC 326 107,000. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE TO THE PROCESS. APPALACHIAN COMMUNITY CAPITAL DEVELOPMENT CORPORATION 110 PEPPERS FERRY ROAD NW CHRISTIANSBURG VA 24073 462827486 AID COMMUNITY/ECONOMIC DEVELOPMENT IN APPALACHIA VA 501(C)(3) LINE 12A, I APPALACHIAN COMMUNITY CAPITAL CORPORATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0