Overview
What is Foundation For Appalachian Kentucky Inc?
The Foundation For Appalachian Kentucky Inc, located at 420 Main Street, Hazard, KY 41701, is a charitable organization dedicated to improving the quality of life in southeastern Kentucky. With a team of 33 employees, the foundation operates from a well-established office and has been recognized for meeting national standards for US community foundations. The organization has provided fiscal and administrative sponsorships for numerous projects and offers leadership and support to the Appalachia Funders Network. Its primary purpose includes receiving and managing charitable funds, investing and reinvesting these resources, and distributing them to benefit the people of southeastern Kentucky, primarily for innovative programs and services or to qualified charitable organizations. The Foundation aims to be a catalyst for community collaboration and charitable giving, creating permanent endowment funds as a sustaining resource for the region.
Official website here: www.appalachianky.org
What are the reviews and ratings of this charity?
87% rating from Charity Navigator indicates that Foundation For Appalachian Kentucky Inc has a strong performance, earning a Three-Star out of Four Star rating. This score reflects good accountability and financial practices, with an impressive 85% in the Accountability & Finance category. The organization demonstrates a commitment to transparency and governance, featuring an independent board with no material diversion of assets and solid financial ratios.
The foundation excels in operational efficiency, showcasing an impressive program expense ratio of 88.60% and a low fundraising efficiency ratio of $0.03, which suggests that they effectively allocate resources towards their mission. Their working capital ratio of 3.25 years indicates financial stability, allowing the organization to sustain its activities over time.
In terms of leadership and organizational culture, the foundation scored exceptionally high in Leadership & Adaptability, achieving a perfect score of 100%. This reflects a strong investment in leadership development and a proactive approach to adaptability. However, the lower score in Culture & Community at 10% suggests there may be room for improvement in fostering community engagement and involvement. Overall, the foundation is well-regarded for its governance and financial health, while it may seek to enhance its community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation For Appalachian Kentucky Inc legitimate?
Foundation For Appalachian Kentucky Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation For Appalachian Kentucky 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: $113,636
Professional Fundraising Fees: $0
Other Salaries and Wages: $729,144
For more financial information, click here
Official website here: www.appalachianky.org
What is the mission statement of Foundation For Appalachian Kentucky Inc?
The Foundation For Appalachian Kentucky Inc is dedicated to serving charitable purposes, primarily benefiting the people of southeastern Kentucky. It functions as a catalyst for community collaboration and charitable giving, working to create permanent endowment funds that enhance the quality of life in the region. The organization has established itself as a well-respected entity, operating in the heart of the southeastern coal fields and supporting the transition to a diverse economy. The Foundation meets national standards as a US community foundation and offers fiscal and administrative sponsorships to various organizations. In addition, it plays a crucial role in the Appalachia Funders Network, working with other funders to build community capacity and promote economic transition.
Official website here: www.appalachianky.org
Who is the CEO of Foundation For Appalachian Kentucky Inc?
Gerry Roll is the Executive Director of Foundation For Appalachian Kentucky Inc.
Official website here: www.appalachianky.org
What is the revenue of Foundation For Appalachian Kentucky Inc?
Foundation For Appalachian Kentucky Inc's revenue in 2022 was $20,144,039.
Official website here: www.appalachianky.org
Who are the executives of Foundation For Appalachian Kentucky Inc and what are their salaries?
The average compensation at Foundation For Appalachian Kentucky Inc during 2022 was $25,539. There are 33 employees and 150 volunteers at Foundation For Appalachian Kentucky Inc.
Here are 12 key members and their salaries:
- Compensation: $89,172
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- Other: $24,464
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Official website here: www.appalachianky.org
Where can I find the form 990 for Foundation For Appalachian Kentucky Inc?
Foundation For Appalachian Kentucky Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.appalachianky.org
Learn more at the official website: www.appalachianky.org
Mission Statement of Foundation For Appalachian Kentucky Inc
The Foundation For Appalachian Kentucky Inc is a charitable organization dedicated to making a lasting impact on the lives of people in southeastern Kentucky. With a focus on community collaboration and charitable giving, the Foundation serves as a catalyst for improving quality of life in the region.
The organization's primary mission is to receive, manage, and distribute funds for charitable purposes, primarily benefiting the residents of southeastern Kentucky. The Foundation assists communities and organizations in providing innovative programs and services, administers donated property for charitable purposes, and distributes money in accordance with the terms of gifts or the determinations made by its Board of Directors. Additionally, the Foundation supports qualified charitable organizations with charitable donations.
The Foundation has demonstrated its commitment to its mission during the past year. It continued to operate a well-regarded office and staff in the heart of the southeastern Kentucky coal fields, while also participating in regional initiatives aimed at transitioning to a diverse economy as the coal industry declines. The Foundation met national standards for US community foundations, providing fiscal and administrative sponsorships for numerous organizations, and offering leadership and support to the Appalachia Funders Network – a collaborative of public and private funders working together to build community capacity and promote an equitable economic transition into new and emerging sectors.
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Impact
October, 2024
Foundation For Appalachian Kentucky Inc plays a vital role in enhancing the quality of life for residents in southeastern Kentucky. By managing and investing funds received through donations and bequests, the organization supports innovative programs and services tailored to meet the needs of local communities.
Over the past year, it has established a trusted presence in the heart of the southeastern Kentucky coal fields and participated actively in regional initiatives aimed at diversifying the local economy as the coal industry faces decline. The Foundation has met national standards for community foundations, ensuring accountability and effectiveness in its operations.
Additionally, it provides fiscal and administrative sponsorships to various organizations, amplifying their reach and impact. The Foundation also leads collaborative efforts through the Appalachia Funders Network, uniting public and private funders to build community capacity and promote equitable economic transitions.
Overall, the Foundation serves as a critical catalyst for collaboration and charitable giving, creating permanent endowment funds that enable sustained improvements in the region's quality of life.
This information is meant to be a general summary of Foundation For Appalachian Kentucky 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 2022.
- Investment Income: $287,460
- Gross Receipts: $20,144,039
Assets and Liabilities:
- Total Assets: $29,222,874
- Total Liabilities: $2,870,527
- Net Assets: $26,352,347
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Organization Details
Founding Year
2002
Phone
(606) 439-1357Principal Officer
Gerry Roll
Main Address
420 Main Street, Hazard, KY, 41701
Website
www.appalachianky.orgNTEE Category
Code: T31 - Philanthropy
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