Overview
What is Appalachian Investment Corporation?
Appalachian Investment Corporation, located at 431 Chestnut Street 7, Berea, Kentucky 40403, is a dedicated nonprofit organization. Its primary mission is to empower small enterprises in Appalachian Kentucky by offering loans and technical assistance. By the end of 2023, AIC had invested around $2,287,000 in 25 loans, impacting existing jobs and promoting job creation. The organization's activities aim to foster economic growth in the Appalachian counties of Kentucky.
Is Appalachian Investment Corporation legitimate?
Appalachian Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Appalachian Investment 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Appalachian Investment Corporation?
Appalachian Investment Corporation's mission is centered around stimulating economic growth. It achieves this by offering loans and technical assistance to new and expanding businesses in a specific region. The corporation's primary goal is to boost economic activity in this area, as indicated by its operations in Appalachian Kentucky. By the end of fiscal year 2023, the corporation had invested approximately $2,287,000 in 25 small enterprises, contributing to the preservation of existing jobs and the creation of new ones in this region.
Who is the CEO of Appalachian Investment Corporation?
Peter Hille is the Board President of Appalachian Investment Corporation.
What is the revenue of Appalachian Investment Corporation?
Appalachian Investment Corporation's revenue in 2023 was $132,651.
Who are the executives of Appalachian Investment Corporation and what are their salaries?
There 5 volunteers at Appalachian Investment Corporation.
Here are 7 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $151,372
- Other: $19,574
- Compensation: $0
- Related: $85,489
- Other: $18,216
- Compensation: $0
- Related: $81,750
- Other: $18,142
- Compensation: $0
- Related: $81,886
- Other: $14,763
Where can I find the form 990 for Appalachian Investment Corporation?
Appalachian Investment Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Appalachian Investment Corporation
Appalachian Investment Corporation, in its mission, aims to stimulate economic growth in the Appalachian regions of Kentucky. It achieves this goal by providing loans and technical assistance to new and expanding businesses within this area. By doing so, the corporation contributes to the creation and preservation of employment opportunities, thereby enhancing the overall economic activity in these counties. As of the end of fiscal year 2023, Appalachian Investment Corporation had 25 active loans to various small enterprises, totaling approximately $2,287,000. These investments have not only supported existing jobs but also contributed to the creation of new ones in Appalachian Kentucky.
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Impact
October, 2024
Appalachian Investment Corporation significantly enhances economic activity in Appalachian Kentucky by providing crucial loans and technical assistance to new and expanding businesses. As of the end of fiscal year 2023, AIC has disbursed 25 loans totaling approximately $2,287,000 to small enterprises in the region. This financial support has not only impacted existing jobs but also contributed to the creation of new employment opportunities, fostering community improvement and economic development. Located in Berea, KY, AIC plays a vital role in strengthening the economic landscape of Appalachian counties, promoting growth and sustainability for local businesses.
This information is meant to be a general summary of Appalachian Investment 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 2023.
- Investment Income: $1,425
- Program Service Revenue: $131,226
- Gross Receipts: $132,651
Assets and Liabilities:
- Total Assets: $2,753,916
- Total Liabilities: $1,661,339
- Net Assets: $1,092,577
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest and fees on l
Revenue
$131,226
Organization Details
Founding Year
1994
Phone
(859) 986-2373Principal Officer
Peter Hille
Main Address
431 Chestnut Street 7, Berea, KY, 40403
NTEE Category
Code: S43 - Community improvement
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