Overview
What is Appalachian Opportunity Fund?
The Appalachian Opportunity Fund is a nonprofit organization based in Johnson City, Tennessee. Its primary mission is to enhance the financial health of asset-limited and income-constrained individuals residing in Northeastern Tennessee, Southeastern Kentucky, and Southwestern Virginia. Beyond financial assistance, this organization is dedicated to ensuring the availability and development of affordable housing for low-to-moderate income households in the same regions. Furthermore, the Appalachian Opportunity Fund endeavors to combat poverty and community deterioration within these areas. With a compact team of four employees, they strive to make a tangible impact in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33% (Zero-Star out of Four Star rating)
The Appalachian Opportunity Fund has received a low rating of 33%, which translates to a Zero-Star rating. This score reflects significant concerns in the areas of accountability and finance, with the overall assessment solely based on this beacon score. While the organization has strengths in board independence and the absence of material asset diversion, the missing policies and documentation detract heavily from its accountability.
The organization boasts a fully independent board with 100% of its members independent and a total of seven members, which is a positive aspect. However, deficiencies such as the absence of a whistleblower policy, conflict of interest policy, and missing website links on the tax form are critical limitations that have impacted the organization's overall score. Additionally, the low program expense ratio of approximately 49.58% suggests that less than half of their expenses are directed towards their programs.
Overall, while the Appalachian Opportunity Fund demonstrates governance strengths through its independent board, the lack of essential policies and transparency measures raises concerns about its operational effectiveness and accountability to donors and constituents alike. This rating indicates a need for improvement in organizational practices to enhance trust and reliability in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Appalachian Opportunity Fund legitimate?
Appalachian Opportunity Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Appalachian Opportunity Fund 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: $178,417
For more financial information, click here
What is the mission statement of Appalachian Opportunity Fund?
The Appalachian Opportunity Fund is committed to improving the financial health of asset-limited and income-constrained individuals residing in North East Tennessee, Southeast Kentucky, and Southwest Virginia. Another key aspect of their mission is ensuring the availability and development of affordable housing for low-to-moderate income households in these regions. Lastly, they aim to alleviate poverty and combat community deterioration in these areas.
Who is the CEO of Appalachian Opportunity Fund?
Victoria Hewlett is the Board Member of Appalachian Opportunity Fund.
What is the revenue of Appalachian Opportunity Fund?
Appalachian Opportunity Fund's revenue in 2022 was $211,632.
Who are the executives of Appalachian Opportunity Fund and what are their salaries?
The average compensation at Appalachian Opportunity Fund during 2022 was $44,604. There are 4 employees at Appalachian Opportunity Fund.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Appalachian Opportunity Fund?
Appalachian Opportunity Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Appalachian Opportunity Fund
The Appalachian Opportunity Fund is dedicated to enhancing the financial well-being of asset-limited and income-constrained individuals residing in Northeast Tennessee, Southeast Kentucky, and Southwest Virginia. Beyond this, the organization aspires to ensure the availability and development of affordable housing for low-to-moderate income households within these regions. Moreover, the Appalachian Opportunity Fund aims to alleviate poverty and combat community deterioration within these communities. By pursuing these objectives, the fund seeks to contribute positively to the socio-economic fabric of these regions.
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Impact
October, 2024
The Appalachian Opportunity Fund significantly enhances the financial health of individuals and families in Northeast Tennessee, Southeast Kentucky, and Southwest Virginia, particularly those who are asset-limited and income-constrained. By focusing on improving economic stability, the Fund pursues strategies that provide essential resources and support to low-to-moderate income households.
A key component of its impact is the development and availability of affordable housing. This initiative ensures that those in the targeted regions have access to safe, secure, and reasonably priced living conditions, which is vital for fostering a sense of community and personal well-being.
Additionally, the Fund works actively to alleviate poverty while combating the deterioration of local communities. By addressing these interconnected challenges, it helps to build a stronger, more resilient landscape in which individuals can thrive economically and socially. Collectively, the efforts of the Appalachian Opportunity Fund contribute to a healthier, more sustainable future for the residents of these Appalachian regions.
This information is meant to be a general summary of Appalachian Opportunity Fund. 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: $250
- Program Service Revenue: $81,200
- Gross Receipts: $211,632
Assets and Liabilities:
- Total Assets: $117,621
- Total Liabilities: $0
- Net Assets: $117,621
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE REVENUE
Revenue
$81,200
Organization Details
Founding Year
2018
Phone
(800) 378-3778Principal Officer
Victoria Hewlett
Main Address
PO BOX 5526, JOHNSON CITY, TN, 37602
NTEE Category
Code: L25 - Housing
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