Overview
What is Appalachian Development Corporation?
Appalachian Development Corporation, headquartered in Greenville, South Carolina, is a nonprofit organization authorized by the Small Business Administration (SBA) in the state. Its primary mission is to facilitate economic development in South Carolina by offering financing to eligible small businesses through SBA 504 loans. These loans provide long-term, fixed-rate subordinate financing for acquiring or renovating capital assets, including land, buildings, equipment, and eligible soft costs. The projects are financed in collaboration with financial institutions, ensuring a senior position on the project assets. The corporation, with a team of five dedicated individuals, aims to support the growth of small businesses in South Carolina, contributing to the overall economic development of the region.
Official website here: www.adcloans.com
Is Appalachian Development Corporation legitimate?
Appalachian Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Appalachian Development Corporation 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: $230,542
Professional Fundraising Fees: $0
Other Salaries and Wages: $218,954
For more financial information, click here
Official website here: www.adcloans.com
What is the mission statement of Appalachian Development Corporation?
The Appalachian Development Corporation, as a nonprofit organization, is committed to fostering economic development in South Carolina. It achieves this by offering financing options to qualified small businesses. Serving as a certified development company authorized by the Small Business Administration in South Carolina, ADC facilitates SBA 504 loans. These loans provide long-term, fixed-rate subordinate financing for the acquisition and/or renovation of capital assets, including land, buildings, equipment, and eligible soft costs. Financial institutions secure a senior position on the project assets in partnership with ADC.
Official website here: www.adcloans.com
What is the revenue of Appalachian Development Corporation?
Appalachian Development Corporation's revenue in 2024 was $843,266.
Official website here: www.adcloans.com
Who are the executives of Appalachian Development Corporation and what are their salaries?
The average compensation at Appalachian Development Corporation during 2024 was $112,374. There are 4 employees at Appalachian Development Corporation.
Here are 13 key members and their salaries:
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Official website here: www.adcloans.com
Where can I find the form 990 for Appalachian Development Corporation?
Appalachian Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.adcloans.com
Learn more at the official website: www.adcloans.com
Mission Statement of Appalachian Development Corporation
Appalachian Development Corporation, a nonprofit organization, was established with the mission to foster economic development in South Carolina. To achieve this goal, ADC provides multiple financing options to qualified small businesses. This nonprofit organization is authorized by the Small Business Administration in South Carolina to facilitate SBA 504 loans. These loans offer long-term, fixed-rate subordinate financing for the acquisition and/or renovation of capital assets, including land, buildings, and equipment, as well as eligible soft costs such as architect, engineering, and environmental fees. The financing for projects is typically done in partnership with financial institutions who secure a senior position on the project assets.
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Impact
October, 2024
Appalachian Development Corporation (ADC) significantly enhances economic development in South Carolina by providing crucial financing options to qualified small businesses. As a certified development company authorized by the Small Business Administration (SBA), ADC plays a vital role in facilitating SBA 504 loans.
These loans offer long-term, fixed-rate subordinate financing, making it easier for businesses to acquire or renovate capital assets such as land, buildings, and equipment. Additionally, ADC supports eligible soft costs, including architect, engineering, and environmental fees, thereby streamlining the process for small businesses to undertake essential projects that contribute to community improvement.
By partnering with financial institutions to obtain senior positions on project assets, ADC ensures that funding is accessible and structured to meet the needs of small businesses. This collaborative approach not only empowers entrepreneurs but also fosters economic growth within the region, ultimately driving community advancement and stability.
This information is meant to be a general summary of Appalachian Development Corporation. 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: $24,356
- Program Service Revenue: $818,910
- Gross Receipts: $843,266
Assets and Liabilities:
- Total Assets: $8,430,332
- Total Liabilities: $2,373,270
- Net Assets: $6,057,062
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING FEES
Revenue
$347,624
INTEREST ON LOAN REPAYMENTS
Revenue
$293,788
LOAN ORIGINATION FEES
Revenue
$176,858
OTHER LOAN FEES
Revenue
$640
Organization Details
Founding Year
1982
Principal Officer
J Connally Bradley
Website
www.adcloans.comNTEE Category
Code: S31 - Community improvement
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