Appalachian Fund Management Company Inc
- Assets
- $0.0
- Revenue
- $50.1k
- Investments
- $0.0
- Employees
- 0
- Location
- London, KY
- Founding
- 01/2004
- Data as of
- 12/2020
- EIN
- 61-1399975
Organization Overview
Appalachian Fund Management Company Inc is located in London, KY. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. Appalachian Fund Management Company 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 12/2020, Appalachian Fund Management Company Inc generated $50.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.8%) each year. All expenses for the organization totaled $55.7k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (18.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SERVES AS THE GENERAL PARTNER OF SOUTHERN APPALACHIAN FUND, LP, A NEW MARKETS VENTURE CAPITAL COMPANY. AS SUCH, IT WILL PROVIDE MANAGEMENT SERVICES TO THE NMVCC TO INSURE PROGRAM RELATED COHESIVE AND PRUDENT INVESTMENTS IN THE APPALACHIAN CORRIDOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A SUPPORTING ORGANIZATION FOR TECHNOLOGY 2020, INC. NOW KNOWN AS THREE ROOTS CAPITAL INC., A 501(C)(3) ORGANIZATION AND KENTUCKY HIGHLANDS INVESTMENT CORPORATION, A 501(C)(4) ORGANIZATION. ITS PURPOSE IS THE AMELIORATION OF POVERTY THROUGH ECONOMIC DEVELOPMENT IN THE APPALACHIAN CORRIDOR. THE ORGANIZATION ACTS AS A GENERAL PARTNER TO AN ENTITY WHICH MANAGES THE INVESTMENTS AND THE CONTRACTS FOR MANAGEMENT SERVICES TO INSURE COHESIVE, PROGRAM RELATED INVESTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Mcdaniel Secretary/treasurer | OfficerTrustee | 1 | $0 |
L Ray Moncrief Ceo/director | OfficerTrustee | 1 | $0 |
Grady Vanderhoofven President/director | OfficerTrustee | 1 | $0 |
Thomas Rogers Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kentucky Highlands Investment Corp Management Fees | 12/30/19 | $129,729 |
Meritus Capital Management Llc Management Fees | 12/30/19 | $106,143 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $50,000 |
| Investment income | $54 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,054 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $55,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
Mhub Chicago, IL | $5,077,327 | $6,781,086 |
The Center For Kentucky Rural Economic Development Inc Somerset, KY | $52,726,644 | $7,680,890 |
Elevate Ventures Inc Indianapolis, IN | $13,635,821 | $6,541,390 |
Team Neo Foundation Cleveland, OH | $2,982,756 | $6,381,649 |
Greater Cincinnati Convention & Visitors Bureau Inc Cincinnati, OH | $12,063,911 | $8,787,781 |
Kentucky Highlands Investment Corporation London, KY | $130,461,604 | $9,285,837 |