APPALACHIAN DEVELOPMENT CORPORATION

Address
880 SOUTH PLEASANTBURG DR STE 3-E
GREENVILLE, SC 29607
Contact
Website: http://www.adcloans.com
Phone: +1 (864) 382-2350
Nonprofit
NTEE: L20 - Housing Development, Construction, Management
EIN: 57-0735286

Mission

THE APPALACHIAN DEVELOPMENT CORPORATION IS ORGANIZED FOR THE PRIMARY PURPOSE OF FURTHERING THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF THE COUNTIES OF ANDERSON, CHEROKEE, GREENVILLE, OCONEE, PICKENS, SPARTANBURG, AND OTHER AREAS OF SOUTH CAROLINA WITH SPECIFIC EMPHASIS ON PROMOTING AND ASSISTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS. THE PRINCIPAL OBJECTIVE OF THE APPALACHIAN DEVELOPMENT CORPORATION SHALL BE TO BENEFIT THE COMMUNITY BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR CITIZENS OF THE STATED AREA.
 201720162015
Basic features of the organization
Year of formation1982
Subsection501(c)(4)
Organization typeCorporation
Metropolitan statistical area3160
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$120,265.00$101,667.00$100,000.00
Sum of reportable (W2/1099) compensation$120,265.00$101,667.00$100,000.00
Number of employees769
Number of people compensated >$100k 1 
Number of highly compensated contractors 1 
Personnel
Bailes, Lamar
TitleBOARDBOARDBOARD
Name of key/compensated personLAMAR BAILESLAMAR BAILESLAMAR BAILES
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or directorIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Bradley, J
TitleEXECUTIVE DI  
Name of key/compensated personJ CONNALLY BRADLEY  
Reportable compensation from org$31,923.00  
Other comp, non-reportable, from org and related orgs$0.00  
PositionOfficer  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Brandon, Craig
Title  BOARD
Name of key/compensated person  CRAIG A BRANDON
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Britt, Tom
TitlePRESIDENTBOARDBOARD
Name of key/compensated personTOM BRITTTOM BRITTTOM BRITT
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or director, OfficerIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Buddin, Glenn
TitleBOARD  
Name of key/compensated personGLENN BUDDIN  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
PositionIndividual trustee or director  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Cook, Jim
TitleBOARDBOARDBOARD
Name of key/compensated personJIM COOKJIM COOKJIM COOK
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or directorIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Gerrard, Bruce
Title  BOARD
Name of key/compensated person  BRUCE GERRARD
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Guarino, Ralph
TitleSECRETARY/TRSECRETARY/TRSECRETARY/TR
Name of key/compensated personRALPH GUARINORALPH GUARINORALPH GUARINO
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or director, OfficerIndividual trustee or director, OfficerIndividual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Kenan, Kemper
TitleVICE PRESIDEBOARDBOARD
Name of key/compensated personKEMPER KENANKEMPER KENANKEMPER KENAN
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or director, OfficerIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Mode, Kim
Title PRESIDENTPRESIDENT
Name of key/compensated person KIM MODEKIM MODE
Reportable compensation from org $0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00
Position Individual trustee or director, OfficerIndividual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00
Mode, Kimberly
TitleBOARD  
Name of key/compensated personKIMBERLY MODE  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
PositionIndividual trustee or director  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Pelissier, Steve
TitleBOARDBOARDBOARD
Name of key/compensated personSTEVE PELISSIERSTEVE PELISSIERSTEVE PELISSIER
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or directorIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Schneider, Bradley
TitleEXECUTIVE DIEXECUTIVE DIEXECUTIVE DI
Name of key/compensated personBRADLEY SCHNEIDERBRADLEY SCHNEIDERBRADLEY SCHNEIDER
Reportable compensation from org$88,342.00$101,667.00$100,000.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionOfficerOfficerOfficer
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Seay, Dale
TitleBOARDBOARD 
Name of key/compensated personDALE SEAYDALE SEAY 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
PositionIndividual trustee or directorIndividual trustee or director 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Purpose: mission, activities & accomplishments
Mission or significant activitiesAPPALACHIAN DEVELOPMENT CORPORATION IS A NONPROFIT ORGANIZATION FORMED TO FURTHER THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF REGIONS OF SOUTH CAROLINA.THE APPALACHIAN DEVELOPMENT CORPORATION IS ORGANIZED FOR THE PRIMARY PURPOSE OF FURTHERING THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF THE COUNTIES OF ANDERSON, CHEROKEE, GREENVILLE, OCONEE, PICKENS AND SPARTANBURG, AND OTHER AREAS OF SOUTH CAROLINA WITH SPECIFIC EMPHASIS ON PROMOTING AND ASSISTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS. THE PRINCIPAL OBJECTIVE OF THE APPALACHIAN DEVELOPMENT CORPORATION SHALL BE TO BENEFIT THE COMMUNITY BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR CITIZENS OF THE STATED AREA.THE APPALACHIAN DEVELOPMENT CORPORATION IS ORGANIZED FOR THE PRIMARY PURPOSE OF FURTHERING THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF THE COUNTIES OF ANDERSON, CHEROKEE, GREENVILLE, OCONEE, PICKENS AND SPARTANBURG, AND OTHER AREAS OF SOUTH CAROLINA WITH SPECIFIC EMPHASIS ON PROMOTING AND ASSISTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS. THE PRINCIPAL OBJECTIVE OF THE APPALACHIAN DEVELOPMENT CORPORATION SHALL BE TO BENEFIT THE COMMUNITY BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR CITIZENS OF THE STATED AREA.
Program expenses (total)$614,993.00$764,191.00$889,360.00
Programs, including revenue & expenses
ADC PARTICIPATES IN THE U.S. DEPARTMENT OF AGRICULTURE ("USDA") INTERMEDIARY RELENDING PROGRAM ("IRP"). UNDER THE PROGRAM, ADC HAS RECEIVED SIX LOANS FROM THE USDA SINCE 2003 TOTALING 4,078,219 FOR THE PURPOSE OF RELENDING TO FINANCE BUSINESS FACILITIES AND COMMUNITY DEVELOPMENT PROJECTS IN RURAL AREAS. DETAILS OF THE REPAYMENT TERMS OF THE LOANS WITH THE USDA ARE DISCUSSED IN NOTE E. THE LOANS RECEIVABLE AND CASH ACCOUNTS ASSOCIATED WITH THIS PROGRAM ARE PLEDGED AS COLLATERAL AGAINST THE OUTSTANDING LOANS. AS OF SEPTEMBER 30, 2017, THERE WERE EIGHTEEN LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 50,000 TO 201,928, AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 0.0% TO 6.75%.
Program expenses$107,434.00$158,161.00$101,333.00
Program revenue$111,888.00$124,562.00$136,434.00
Program descriptionADC PARTICIPATES IN THE U.S. DEPARTMENT OF AGRICULTURE ("USDA") INTERMEDIARY RELENDING PROGRAM ("IRP"). UNDER THE PROGRAM, ADC HAS RECEIVED SIX LOANS FROM THE USDA SINCE 2003 TOTALING 4,078,219 FOR THE PURPOSE OF RELENDING TO FINANCE BUSINESS FACILITIES AND COMMUNITY DEVELOPMENT PROJECTS IN RURAL AREAS. DETAILS OF THE REPAYMENT TERMS OF THE LOANS WITH THE USDA ARE DISCUSSED IN NOTE E. THE LOANS RECEIVABLE AND CASH ACCOUNTS ASSOCIATED WITH THIS PROGRAM ARE PLEDGED AS COLLATERAL AGAINST THE OUTSTANDING LOANS. AS OF SEPTEMBER 30, 2017, THERE WERE EIGHTEEN LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 50,000 TO 201,928, AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 0.0% TO 6.75%.US DEPARTMENT OF AGRICULTURE (USDA) INTERMEDIARY RELENDING PROGRAM (IRP) - ADC PARTICIPATES IN THE USDA IRP PROGRAM. THE PURPOSE OF THE PROGRAM IS TO FINANCE BUSINESS FACILITIES AND COMMUNITY DEVELOPMENT PROJECTS IN RURAL AREAS.US DEPARTMENT OF AGRICULTURE (USDA) INTERMEDIARY RELENDING PROGRAM (IRP) - ADC PARTICIPATES IN THE USDA IRP PROGRAM. THE PURPOSE OF THE PROGRAM IS TO FINANCE BUSINESS FACILITIES AND COMMUNITY DEVELOPMENT PROJECTS IN RURAL AREAS.
APPALACHIAN REGIONAL COMMISSION ("ARC") REVOLVING LOAN FUNDS - ADC MANAGES THREE GRANTS FROM THE ARC THAT ESTABLISHED REVOLVING LOAN FUNDS FOR THE PURPOSE OF RELENDING TO SMALL BUSINESSES IN THE AREA.
Program expenses $170,386.00$670,277.00
Program revenue $288,963.00$476,599.00
Program description APPALACHIAN REGIONAL COMMISSION ("ARC") REVOLVING LOAN FUNDS - ADC MANAGES THREE GRANTS FROM THE ARC THAT ESTABLISHED REVOLVING LOAN FUNDS FOR THE PURPOSE OF RELENDING TO SMALL BUSINESSES IN THE AREA.APPALACHIAN REGIONAL COMMISSION ("ARC") REVOLVING LOAN FUNDS - ADC MANAGES THREE GRANTS FROM THE ARC THAT ESTABLISHED REVOLVING LOAN FUNDS FOR THE PURPOSE OF RELENDING TO SMALL BUSINESSES IN THE AREA.
PROCESSING OF USDA RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I) AND THE SMALL BUSINESS ADMINISTRATION 504 LOANS. ADC IS AN APPROVED LENDER FOR THE U.S. DEPARTMENT OF AGRICULTURE ("USDA") RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I). FUNDS CAN BE USED TO PROVIDE LONG-TERM FINANCING FOR ACQUISITION AND/OR RENOVATION OF CAPITAL ASSETS INCLUDING LAND, BUILDINGS AND EQUIPMENT, WORKING CAPITAL, AND REFINANCING. VIRTUALLY ALL TYPES OF BUSINESSES IN THE COVERED AREA OF SOUTH CAROLINA ARE ELIGIBLE FOR THIS PROGRAM SUBJECT TO THE POPULATION DENSITY REQUIREMENTS OF THE USDA. ADC OBTAINS A GUARANTEE FROM THE USDA ON UP TO 80% OF THE LOANED AMOUNT AND THEN SELLS PARTICIPATION IN THESE LOANS IN A SECONDARY MARKET. ADC RETAINS OWNERSHIP OF A PORTION OF THE UNGUARANTEED LOANS RANGING FROM 5% TO 20% PER LOAN. AT SEPTEMBER 30, 2017, TWO LOANS GRANTED UNDER THE B&I PROGRAM WERE OUTSTANDING. LOAN AMOUNTS RANGE FROM 1,540,000 TO 5,800,000, WITH ADC'S RETAINED OWNERSHIP PORTION RANGING FROM 70,000 TO 290,000. INTEREST RATES ARE VARIABLE BASED ON AN INDEX AND RANGE FROM 5.25% TO 6.5%. MATURITY DATES RANGE FROM SEPTEMBER 2020 TO DECEMBER 2031.
Program expenses$338,777.00$284,551.00$91,518.00
Program revenue$346,061.00$351,020.00$314,735.00
Program descriptionPROCESSING OF USDA RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I) AND THE SMALL BUSINESS ADMINISTRATION 504 LOANS. ADC IS AN APPROVED LENDER FOR THE U.S. DEPARTMENT OF AGRICULTURE ("USDA") RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I). FUNDS CAN BE USED TO PROVIDE LONG-TERM FINANCING FOR ACQUISITION AND/OR RENOVATION OF CAPITAL ASSETS INCLUDING LAND, BUILDINGS AND EQUIPMENT, WORKING CAPITAL, AND REFINANCING. VIRTUALLY ALL TYPES OF BUSINESSES IN THE COVERED AREA OF SOUTH CAROLINA ARE ELIGIBLE FOR THIS PROGRAM SUBJECT TO THE POPULATION DENSITY REQUIREMENTS OF THE USDA. ADC OBTAINS A GUARANTEE FROM THE USDA ON UP TO 80% OF THE LOANED AMOUNT AND THEN SELLS PARTICIPATION IN THESE LOANS IN A SECONDARY MARKET. ADC RETAINS OWNERSHIP OF A PORTION OF THE UNGUARANTEED LOANS RANGING FROM 5% TO 20% PER LOAN. AT SEPTEMBER 30, 2017, TWO LOANS GRANTED UNDER THE B&I PROGRAM WERE OUTSTANDING. LOAN AMOUNTS RANGE FROM 1,540,000 TO 5,800,000, WITH ADC'S RETAINED OWNERSHIP PORTION RANGING FROM 70,000 TO 290,000. INTEREST RATES ARE VARIABLE BASED ON AN INDEX AND RANGE FROM 5.25% TO 6.5%. MATURITY DATES RANGE FROM SEPTEMBER 2020 TO DECEMBER 2031.PROCESSING OF USDA RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I) AND THE SMALL BUSINESS ADMINISTRATION 504 LOANS. ADC IS AN APPROVED LENDER FOR UTILIZING THE USDA B&I GUARANTEE PROGRAM FUNDS CAN BE USED TO PROVIDE LONG-TERM FINANCING TO SMALL BUSINESSES FOR ACQUISITION, RENOVATION OR REFINANCING OF CAPITAL ASSETS IN THE COVERED AREA OF THE SIX COUNTIES OF UPSTATE SOUTH CAROLINA AND OTHER RURAL AREAS OF THE STATE. ADC CAN OBTAIN A GUARANTEE FROM THE USDA ON UP TO 80% OF THE LOANED AMOUNT AND THEN SELL PARTICIPATION IN THE LOANS IN A SECONDARY MARKET. ADC RETAINS OWNERSHIP OF 5% - 20% OF THE LOANS.PROCESSING OF USDA RURAL DEVELOPMENT BUSINESS AND INDUSTRY GUARANTEE PROGRAM (B&I) AND THE SMALL BUSINESS ADMINISTRATION 504 LOANS. ADC IS AN APPROVED LENDER FOR UTILIZING THE USDA B&I GUARANTEE PROGRAM FUNDS CAN BE USED TO PROVIDE LONG-TERM FINANCING TO SMALL BUSINESSES FOR ACQUISITION, RENOVATION OR REFINANCING OF CAPITAL ASSETS IN THE COVERED AREA OF THE SIX COUNTIES OF UPSTATE SOUTH CAROLINA AND OTHER RURAL AREAS OF THE STATE. ADC CAN OBTAIN A GUARANTEE FROM THE USDA ON UP TO 80% OF THE LOANED AMOUNT AND THEN SELL PARTICIPATION IN THE LOANS IN A SECONDARY MARKET. ADC RETAINS OWNERSHIP OF 5% - 20% OF THE LOANS.
STATE OF SOUTH CAROLINA REVOLVING LOAN FUND THE SOUTH CAROLINA BUDGET AND CONTROL BOARD AWARDED A GRANT TO THE SCACOG THROUGH THE FEDERAL MATCH PROGRAM FOR THE PURPOSE OF RELENDING TO ELIGIBLE BORROWERS. ADC IS CONSIDERED A SUB-RECIPIENT OF THIS GRANT. AS OF SEPTEMBER 30, 2017, THERE WERE THREE OUTSTANDING LOANS. LOAN AMOUNTS RANGE FROM 50,000 TO 148,000, AND CALL FOR MONTHLY INSTALLMENT PAYMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 5.5% TO 7.75%. APPALACHIAN REGIONAL COMMISSION REVOLVING LOAN FUNDS (SCACOG) THE APPALACHIAN REGIONAL COMMISSION ("ARC") AWARDED GRANTS TO THE SCACOG FOR REVOLVING LOAN FUNDS. ADC IS CONSIDERED A SUB-RECIPIENT OF THE GRANTS AND THE GRANT FUNDS AND ALL RELATED ACTIVITY IS REFLECTED IN THE FINANCIAL STATEMENTS OF ADC. ADC IS CURRENTLY RESPONSIBLE FOR THE FOLLOWING TWO GRANTS: THE ARC REVOLVING LOAN FUND CONSISTS OF THE ORIGINAL GRANT OF 1,000,000 FROM 1988, AMENDED FIVE TIMES BETWEEN 1994 AND 1998 TO A TOTAL GRANT AMOUNT OF 3,250,000. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 363,144 FOR DE-OBLIGATION. AT SEPTEMBER 30, 2017, THERE WERE TWENTY-FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 34,380 TO 457,861, AND CALL FOR MONTHLY INSTALLMENT PAYMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 0.0% TO 7.0%. THE ARC ENTREPRENEURIAL INITIATIVE REVOLVING LOAN FUND CONSISTS OF THE ORIGINAL GRANT OF 425,000 FROM 1998, WITH ADDITIONAL GRANTS AND AMENDMENTS ISSUED FROM 2002 TO 2011 FOR A TOTAL GRANT AMOUNT OF 3,175,000. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 382,421 FOR DE-OBLIGATION. AS OF SEPTEMBER 30, 2017, THERE WERE TWENTY-FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 35,500 TO 200,000, AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 3.0% TO 7.0%. APPALACHIAN REGIONAL COMMISSION REVOLVING LOAN FUNDS (ADC) DURING 2011, THE ARC AWARDED A GRANT OF 600,000 DIRECTLY TO ADC FOR ADDITIONAL REVOLVING LOAN FUNDS. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 122,785 FOR DE-OBLIGATION. AS OF SEPTEMBER 30, 2017, THERE WERE FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 35,000 TO 200,000 AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 5.5% TO 6.5%.
Program expenses$165,310.00  
Program revenue$270,236.00  
Program descriptionSTATE OF SOUTH CAROLINA REVOLVING LOAN FUND THE SOUTH CAROLINA BUDGET AND CONTROL BOARD AWARDED A GRANT TO THE SCACOG THROUGH THE FEDERAL MATCH PROGRAM FOR THE PURPOSE OF RELENDING TO ELIGIBLE BORROWERS. ADC IS CONSIDERED A SUB-RECIPIENT OF THIS GRANT. AS OF SEPTEMBER 30, 2017, THERE WERE THREE OUTSTANDING LOANS. LOAN AMOUNTS RANGE FROM 50,000 TO 148,000, AND CALL FOR MONTHLY INSTALLMENT PAYMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 5.5% TO 7.75%. APPALACHIAN REGIONAL COMMISSION REVOLVING LOAN FUNDS (SCACOG) THE APPALACHIAN REGIONAL COMMISSION ("ARC") AWARDED GRANTS TO THE SCACOG FOR REVOLVING LOAN FUNDS. ADC IS CONSIDERED A SUB-RECIPIENT OF THE GRANTS AND THE GRANT FUNDS AND ALL RELATED ACTIVITY IS REFLECTED IN THE FINANCIAL STATEMENTS OF ADC. ADC IS CURRENTLY RESPONSIBLE FOR THE FOLLOWING TWO GRANTS: THE ARC REVOLVING LOAN FUND CONSISTS OF THE ORIGINAL GRANT OF 1,000,000 FROM 1988, AMENDED FIVE TIMES BETWEEN 1994 AND 1998 TO A TOTAL GRANT AMOUNT OF 3,250,000. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 363,144 FOR DE-OBLIGATION. AT SEPTEMBER 30, 2017, THERE WERE TWENTY-FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 34,380 TO 457,861, AND CALL FOR MONTHLY INSTALLMENT PAYMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 0.0% TO 7.0%. THE ARC ENTREPRENEURIAL INITIATIVE REVOLVING LOAN FUND CONSISTS OF THE ORIGINAL GRANT OF 425,000 FROM 1998, WITH ADDITIONAL GRANTS AND AMENDMENTS ISSUED FROM 2002 TO 2011 FOR A TOTAL GRANT AMOUNT OF 3,175,000. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 382,421 FOR DE-OBLIGATION. AS OF SEPTEMBER 30, 2017, THERE WERE TWENTY-FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 35,500 TO 200,000, AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 3.0% TO 7.0%. APPALACHIAN REGIONAL COMMISSION REVOLVING LOAN FUNDS (ADC) DURING 2011, THE ARC AWARDED A GRANT OF 600,000 DIRECTLY TO ADC FOR ADDITIONAL REVOLVING LOAN FUNDS. IN 2014 AND 2016, ADC RETURNED FUNDS TOTALING 122,785 FOR DE-OBLIGATION. AS OF SEPTEMBER 30, 2017, THERE WERE FOUR LOANS OUTSTANDING. LOAN AMOUNTS RANGE FROM 35,000 TO 200,000 AND CALL FOR MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST WITH INTEREST RATES RANGING FROM 5.5% TO 6.5%.  
Financial data
Expense categories (totals)
Sum (total functional expenses)$614,993.00$772,625.00$901,537.00
Program services (total functional expenses)$614,993.00$764,191.00$889,360.00
Management & general (total functional expenses)$0.00$8,434.00$12,177.00
Fundraising (total functional expenses)$0.00$0.00$0.00
Revenue
Total revenue$702,387.00$794,236.00$956,368.00
Program service revenue (total)$702,387.00$794,236.00$956,368.00
Revenue from contributions (total)  $0.00
Investment income$0.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00
Gross receipts$702,387.00$794,236.00$956,368.00
Other types of revenue
Net rental income  $0.00
Fees for services
Fundraising service fees (total)$0.00$0.00$0.00
Assets and liabilities
Total assets$8,606,207.00$8,810,439.00$9,520,641.00
Total assets, beginning of year$8,810,439.00$9,520,641.00$9,671,242.00
Total liabilities$3,020,712.00$3,312,338.00$4,044,151.00
Total liabilities, beginning of year$3,312,338.00$4,044,151.00$4,249,583.00
Net assets$5,585,495.00$5,498,101.00$5,476,490.00
Net assets, beginning of year$5,498,101.00$5,476,490.00$5,421,659.00
Other liabilities$3,516.00$28,884.00$715,209.00
Other assets$296,534.00$257,966.00 
Cash: non-interest bearing$2,241,705.00$2,267,416.00$2,738,098.00
Cash: non-interest bearing, beginning of year$2,267,416.00$2,738,098.00$2,354,637.00
Other financial variables
Revenue less expenses$87,394.00$21,611.00$54,831.00
Accounts receivable, net$23,026.00$15,166.00$2,778.00
Prepaid expenses & deferred charges$24,901.00$27,614.00$27,052.00
Accounts payable & accrued expenses$39,029.00$18,813.00$60,798.00
Secured mortgages and notes payable$2,978,167.00$3,264,641.00$3,268,144.00
Total net assets or fund balances$5,585,495.00$5,498,101.00$5,476,490.00
Depreciation, depletion, amortization$7,003.00$4,502.00$1,521.00
Governance and accountability
Number of voting members9813
Number of independent voting members9813
Financial sheets auditedTrueTrueTrue
Tax year start date2016-10-012015-10-012014-10-01
Tax year end date2017-09-302016-09-302015-09-30
Accounting methodAccrualAccrualAccrual
Metadata about the filing
E-return type990990990
Reason for form submission
Address change True 
Date e-filing submitted2018-03-082017-09-112016-07-28
IRS schema version2016v3.12015v3.02014v6.0
Filing identifier201800439349301310201701519349300605201641169349301114
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