Foundation For Appalachian Kentucky Inc
- Assets
- $23.3m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 21
- Location
- Hazard, KY
- Founding
- 04/2000
- Data as of
- 12/2021
- EIN
- 61-1329396
Organization Overview
Foundation For Appalachian Kentucky Inc is located in Hazard, KY. The organization was established in 2000. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Foundation For Appalachian Kentucky Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Appalachian Kentucky Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Foundation For Appalachian Kentucky Inc generated $13.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 45.1% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 30.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Foundation For Appalachian Kentucky Inc has awarded 239 individual grants totaling $4,701,911. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO RECEIVE, HOLD, HANDLE, ADMINISTER, INVEST, AND REINVEST MONEY AND PROPERTY OF ALL KINDS RECEIVED BY GIFT, DEVISE, PAYMENTS, BEQUEST, OR APPOINTMENT, IN TRUST OR OTHERWISE, FOR CHARITABLE PURPOSES, PRIMARILY IN, OR FOR THE BENEFIT OF, THE PEOPLE OF SOUTHEASTERN KENTUCKY, INCLUDING FOR SUCH PURPOSES AS -A. TO ASSIST COMMUNITIES AND ORGANIZATIONS IN PROVIDING INNOVATIVE, HIGH-QUALITY PROGRAMS AND SERVICES TO THE RESIDENTS OF SOUTHEASTERN KENTUCKY.B. TO ADMINISTER FOR CHARITABLE PURPOSES PROPERTY DONATED TO THE CORPORATION;C. TO DISTRIBUTE MONEY FOR SUCH PURPOSES IN ACCORDANCE WITH THE TERMS OF GIFTS, BEQUESTS, OR DEVISES TO THE CORPORATION NOT INCONSISTENT WITH ITS PURPOSES, AS SET FORTH IN THESE ARTICLES OF INCORPORATION, OR IN ACCORDANCE WITH DETERMINATIONS MADE BY THE BOARD OF DIRECTORS PURSUANT TO THESE ARTICLES OF INCORPORATION; ANDD. TO DISTRIBUTE PROPERTY TO QUALIFIED CHARITABLE ORGANIZATIONS FOR CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE PAST YEAR, THE FOUNDATION:*CONTINUED TO OPERATE AND ESTABLISH A WELL-GROUNDED, WELL KNOWN AND WELL REGARDED OFFICE AND STAFF IN THE HEART OF THE SOUTHEASTERN KENTUCKY COAL FIELDS WHILE ESTABLISHING AND PARTICIPATING IN REGIONAL INITIATIVES TO TRANSITION TO A DIVERSE ECONOMY AS THE COAL INDUSTRY CONTINUES TO DECLINE;*MET NATIONAL STANDARDS FOR US COMMUNITY FOUNDATIONS AS SET FORTH BY THE COMMUNITY FOUNDATIONS NATIONAL STANDARDS BOARD AT THE NATIONAL COUNCIL ON FOUNDATIONS;*PROVIDED FISCAL AND ADMINISTRATIVE SPONSORSHIPS FOR NUMEROUS ORGANIZATIONS; AND*PROVIDED 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 AS THE COAL INDUSTRY CONTINUES TO DECLINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Roll Executive Director | Officer | 40 | $92,403 |
Joel Brashear Chair | OfficerTrustee | 7 | $0 |
Rodney Chrisman Vice Chair | OfficerTrustee | 1 | $0 |
Crissy Fiscus Treasurer | OfficerTrustee | 1 | $0 |
Alison F Davis Secretary | OfficerTrustee | 1 | $0 |
Cory Chesnut Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $862,005 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,236,854 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,098,859 |
| Total Program Service Revenue | $0 |
| Investment income | $194,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $297,445 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,960,964 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,346,589 |
| Grants and other assistance to domestic individuals. | $828,664 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $107,850 |
| Compensation of current officers, directors, key employees. | $53,925 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,990 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $122,785 |
| Payroll taxes | $55,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $67,368 |
| Fees for services: Other | $370,334 |
| Advertising and promotion | $132,444 |
| Office expenses | $127,006 |
| Information technology | $29,388 |
| Royalties | $0 |
| Occupancy | $39,519 |
| Travel | $35,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,336 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,827 |
| Insurance | $71,241 |
| All other expenses | $0 |
| Total functional expenses | $5,404,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,153,206 |
| Savings and temporary cash investments | $1,502,169 |
| Pledges and grants receivable | $1,046,206 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $975,105 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $367,103 |
| Investments—publicly traded securities | $15,314,297 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,944,013 |
| Total assets | $23,302,099 |
| Accounts payable and accrued expenses | $207,389 |
| Grants payable | $417,834 |
| Deferred revenue | $75,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,047,542 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $162,818 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,910,583 |
| Net assets without donor restrictions | $8,297,694 |
| Net assets with donor restrictions | $13,093,822 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,302,099 |
Grants Awarded
Over the last fiscal year, Foundation For Appalachian Kentucky Inc has awarded $949,983 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
Hazard, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $115,000 |
Washington, DC PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $92,500 |
AMERICAN RED CROSS - KENTUCKY REGION PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $50,000 |
Nashville, TN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $50,000 |
Whitesburg, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $45,000 |
Hazard, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foundation For Appalachian Kentucky Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Marilyn And William Young Charitable Foundation Inc Owensboro, KY PURPOSE: COMMUNITY GRANTS | $5,000 |
Wrocklage Family Charitablefoundation Goshen, OH PURPOSE: UNRESTRICTED | $2,500 |
Endowment Analysis
| Beg. Balance | $5,060,671 |
| Earnings | $1,116,309 |
| Admin Expense | $16,575 |
| Net Contributions | $5,262,956 |
| Other Expense | $98,864 |
| Grants | $214,423 |
| Ending Balance | $11,110,074 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA | $68,152,988 | $23,085,179 |
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |
Greater Kanawha Valley Foundation Charleston, WV | $329,426,372 | $27,972,481 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
St Louis Community Foundation St Louis, MO | $112,098,850 | $20,148,169 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |
The Community Foundation Of Louisville Corporate Depository In Louisville, KY | $17,663,337 | $10,177,129 |
The Community Foundation For Northern Virginia Inc Oakton, VA | $80,161,408 | $23,451,822 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Community Foundation Of Northern Illinois Rockford, IL | $141,924,845 | $12,064,778 |
Community Foundation Of Lorain County Elyria, OH | $163,012,004 | $27,165,624 |