Overview
What is Mountain Association For Community Economic Development Inc?
Mountain Association For Community Economic Development Inc, based in Berea, Kentucky, is a dedicated nonprofit organization that supports small business development in the region. They offer a combination of investment capital, training, and technical assistance to help entrepreneurs create sustainable businesses that contribute to the community. With a portfolio of 175 loans totaling around $16.75 million at the end of the fiscal year, they have a proven track record of assisting businesses. Their mission extends beyond finance, as they also engage in research, communications, and advocacy for policy and narrative change. Their goal is to foster a more diverse, sustainable, equitable, and resilient economy in Eastern Kentucky. With a team of 54 employees, they actively work with businesses, nonprofits, public agencies, and homeowners to promote energy savings and improve the overall economic landscape of the region.
Official website here: www.mtassociation.org
Is Mountain Association For Community Economic Development Inc legitimate?
Mountain Association For Community Economic Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mountain Association For Community Economic Development Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $445,929
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,774,202
For more financial information, click here
Official website here: www.mtassociation.org
What is the mission statement of Mountain Association For Community Economic Development Inc?
The Mountain Association for Community Economic Development Inc. is dedicated to fostering a shift towards a more diverse, sustainable, and equitable economy in an unspecified region. They accomplish this by extending flexible loans and providing technical support to both existing businesses and startups, helping various entities in their pursuit of energy efficiency, and engaging in policy and narrative change through research and advocacy. Additionally, they collaborate with partners on various projects to showcase the potential of sustainable development in the area.
Official website here: www.mtassociation.org
What is the revenue of Mountain Association For Community Economic Development Inc?
Mountain Association For Community Economic Development Inc's revenue in 2024 was $8,094,633.
Official website here: www.mtassociation.org
Who are the executives of Mountain Association For Community Economic Development Inc and what are their salaries?
The average compensation at Mountain Association For Community Economic Development Inc during 2024 was $42,695. There are 52 employees and 9 volunteers at Mountain Association For Community Economic Development Inc.
Here are 10 key members and their salaries:
- Compensation: $157,206
- Related: $0
- Other: $19,940
- Compensation: $90,292
- Related: $0
- Other: $20,203
- Compensation: $91,185
- Related: $0
- Other: $16,476
- Compensation: $74,452
- Related: $0
- Other: $14,570
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mtassociation.org
Where can I find the form 990 for Mountain Association For Community Economic Development Inc?
Mountain Association For Community Economic Development Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.mtassociation.org
Learn more at the official website: www.mtassociation.org
Mission Statement of Mountain Association For Community Economic Development Inc
Mountain Association For Community Economic Development Inc is committed to fostering a transition towards a more diverse, sustainable, equitable, and resilient economy in Eastern Kentucky. To achieve this mission, the nonprofit offers flexible loans and technical support to both existing and emerging businesses and organizations, as well as nonprofits, public agencies, and homeowners, helping them to save energy and reduce costs. Furthermore, Mountain Association For Community Economic Development Inc engages in research, communications, and advocacy for policy and narrative change, collaborating with various partners on projects that demonstrate the potential for transformation in the region. By investing in people and places, this organization aims to build a more prosperous and sustainable future for Eastern Kentucky.
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Impact
October, 2024
The Mountain Association for Community Economic Development Inc makes a significant impact in Eastern Kentucky by investing in people and places to drive a just transition toward a more diverse, sustainable, equitable, and resilient economy. Through its Lending and Business Support programs, it empowers small business owners with the tools and skills necessary to create quality jobs and deliver vital community services.
By providing access to investment capital and comprehensive training and technical assistance, the Mountain Association increases entrepreneurs' capacities and their chances of success. As of the end of fiscal year 2023, it successfully managed a portfolio of 175 loans amounting to approximately $16.75 million, with an impressive 56 loans closed during the fiscal year that disbursed around $2.65 million. This financial support facilitates business growth and development throughout the region.
Additionally, the Mountain Association engages in energy savings initiatives and collaborates on projects that showcase innovative possibilities in Eastern Kentucky, advocating for policy and narrative change aimed at enhancing community resilience and well-being. Its commitment to fostering economic improvement significantly contributes to the revitalization and sustainability of local communities.
This information is meant to be a general summary of Mountain Association For Community Economic Development Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $67,497
- Program Service Revenue: $1,285,432
- Gross Receipts: $8,094,633
Assets and Liabilities:
- Total Assets: $35,661,726
- Total Liabilities: $9,074,701
- Net Assets: $26,587,025
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON LOANS
Revenue
$892,914
PROJECT INCOME
Revenue
$301,127
FEE INCOME ON LOANS
Revenue
$91,391
Organization Details
Founding Year
1976
Principal Officer
Robin Gabbard
Website
www.mtassociation.orgNTEE Category
Code: S32Z - Community improvement
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