Appalachian Investment Corporation

“The first level of review of the form 990 is by aic's chief financial officer, who provides the preparer with the information for the return and works closely with the preparer to ensure its accuracy and completeness. The aic president or chief operating officer reviews the form before signing it. The form 990 is distributed to the board electronically before it is submitted to the irs.”

“The aic board has established a conflict of interest policy that specifies conflicts of interest to be avoided. The board of directors may make exceptions to the policy in specific cases when the situation is fully disclosed to them. A provision of the conflict of interest policy is that each director, officer and employee must receive, sign and return a copy of a summary of the conflict of interest policy.”

“Staffing for aic is provided by mountain association, thus the mountain association compensation practices are applicable. Annually, the mountain association president is evaluated through a process guided by the board executive committee, composed of the board officers (chair, vice-chair, board treasurer and board secretary). The executive committee reports its findings to the board in closed session. After considering the committee's report, the board sets the president's compensation for the following year. The board takes into account compensation levels reported on forms 990 for the ceos of three to five comparable organizations as well as its knowledge of compensation of positions in the private and nonprofit sectors with comparable levels of responsibility, qualifications and achievement. The president does not participate in or vote on the decision on the president's compensation. The board's decision on compensation is recorded in minutes which are presented and approved at the following board meeting. This process last took place in may 2025.”

“The president determines the compensation of other staff, including those who serve as corporate officers, following an annual performance review of each staff member. Along with considerations of equity among staff, the president takes into account compensation levels reported on forms 990 for officer positions in three to five comparable organizations and their knowledge of compensation of positions in the private and nonprofit sectors with comparable levels of responsibility, qualifications and achievement. Every change in a staff salary is documented in a letter to the staff member.”

“Aic's articles of incorporation and summary of conflict of interest policy are available on request. Aic's financial statements are consolidated with those of the mountain association and mountain association's subsidiary ridgecrest enterprises. The corresponding audit report on the consolidated financial statements of mountain association and its affiliates is available at www.mtassociation.org.”

“Consultants 24,000 0 0 professional services 1,883 0 0 total 25,883 0 0”

“Provision for credit losses -25,266”