Civic Intelligence

Invest Appalachia Inc

EIN 84-2748180 • 501(c)3 • Asheville, NC

Profile

Invest appalachia (ia) is a regional impact investment platform designed by and for the people of central appalachia. Ia provides blended investment capital to strengthen business opportunities, build equitable local wealth, advance critical sectors, and increase quality of life for everyone in central appalachia. Ia was initiated through the appalachia funders network and developed by a collaborative group of regional leaders representing cdfis, public and private philanthropic entities, local institutions, and community organizations.

1456 Patton Ave Suite DAsheville, NC 28806

www.investappalachia.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

67th percentile

0.21x

Higher debt load relative to assets than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

74th percentile

0.32x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

14th percentile

-22%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

21st percentile

-5.8%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

5th percentile

-51%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$3,020,288

Down $185,279 (-5.8%) from 2022

Liabilities

Up

$621,828

Up $237,807 (+62%) from 2022

Net Assets

Down

$2,398,460

Down $423,086 (-15%) from 2022

Operations
Liabilities / Revenue74th percentileNet Margin14th percentile

Revenue

Down

$1,917,636

Down $2,032,067 (-51%) from 2022

Expenses

Up

$2,340,722

Up $1,008,116 (+76%) from 2022

Net Income

Down

-$423,086

Down $3,040,183 (-116%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth21st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2019: $35,991Liabilities 2019: $02019Assets 2020: $32,535Liabilities 2020: $02020Assets 2021: $220,408Liabilities 2021: $15,959Net Assets 2021: $204,4492021Assets 2022: $3,205,567Liabilities 2022: $384,021Net Assets 2022: $2,821,5462022Assets 2023: $3,020,288Liabilities 2023: $621,828Net Assets 2023: $2,398,4602023

Highlighted filing

2023

Assets$3,020,288
Liabilities$621,828
Net Assets$2,398,460
Open 2023 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2019: $131,847Expenses 2019: $95,856Net Income 2019: $35,9912019Revenue 2020: $150,989Expenses 2020: $154,445Net Income 2020: -$3,4562020Revenue 2021: $648,625Expenses 2021: $444,176Net Income 2021: $204,4492021Revenue 2022: $3,949,703Expenses 2022: $1,332,606Net Income 2022: $2,617,0972022Revenue 2023: $1,917,636Expenses 2023: $2,340,722Net Income 2023: -$423,0862023

Highlighted filing

2023

Revenue$1,917,636
Expenses$2,340,722
Net Income-$423,086
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$3,020,288
Liabilities
$621,828
Net assets
$2,398,460
Revenue
$1,917,636
Expenses
$2,340,722
Net income
-$423,086
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$3.02$0.62$2.40$1.92$2.34$0.42
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.21$0.38$2.82$3.95$1.33$2.62
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.02$0.20$0.65$0.44$0.20
2020Summary only. Only limited summary data is available for this year.$0.03$0.00$0.15$0.15$0.00
2019Summary only. Only limited summary data is available for this year.$0.04$0.00$0.13$0.10$0.04
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$3,949,703
Mission and Program Overview

Mission

Invest appalachia (ia) is a regional impact investment platform designed by and for the people of central appalachia. Ia provides blended investment capital to strengthen business opportunities, build equitable local wealth, advance critical sectors, and increase quality of life for everyone in central appalachia. Ia was initiated through the appalachia funders network and developed by a collaborative group of regional leaders representing cdfis, public and private philanthropic entities, local institutions, and community organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$219,983$3,205,142▲ $2,985,159
Total Assets$220,408$3,205,567▲ $2,985,159
Other Assets Total$425$425→ $0
Liabilities
Accounts Payable and Accrued Expenses$15,959$384,021▲ $368,062
Total Liabilities$15,959$384,021▲ $368,062
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$2,744,126-
Net Assets Without Donor Restrictions$204,449$77,420▼ $127,029
Total Net Assets Fund Balance$204,449$2,821,546▲ $2,617,097
Total Liabilities and Net Assets / Fund Balance$220,408$3,205,567▲ $2,985,159
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Andrew CrossonExecutive DiFT$111,941$111,941

Board Members and Trustees

NameTitle
Alex GibsonBoard Member
Bill PollardBoard Member
Bill SheltonBoard Member
Debbie PhillipsBoard Member
Earl GohlBoard Member
Karen JacobsonBoard Member
Kerry PigmanBoard Member
Kevin DickBoard Member
Michelle FosterBoard Member
Scott McreynoldsBoard Member
Stephanie TyreeBoard Presid
Stephanie RandolphBoard Secret
Sara MorganBoard Treasu
Revenue and Support

Revenue Composition

Contributions and Grants
$3,943,835
Program Service Revenue
$0
Investment Income
$5,868
Other Revenue
$0
All Other Contributions
$3,943,835
Change in Net Assets
$2,617,097

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,949,703
Total Revenue per Audited Statements
$3,949,703
Total Revenue per Form 990
$3,949,703
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,123,800
Salaries, Compensation, and Employee Benefits$208,806
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$801,050--$801,050
Fees for Service Investment Mgmnt Fees$229,420--$229,420
Current Officers, Directors, Trustees, and Key Employees$100,747$11,194-$111,941
Other Salaries and Wages$96,865--$96,865
Conferences and Meetings-$25,961-$25,961
Insurance-$19,765-$19,765
Fees for Services Legal$18,678--$18,678
Fees for Services Accounting-$12,083-$12,083
Office Expenses-$11,743-$11,743
Occupancy-$5,100-$5,100
Total Functional Expenses$1,246,760$85,846$0$1,332,606

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,332,606
Total Expenses per Audited Statements$1,332,606
Total Expenses per Form 990$1,332,606
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The finance committee reviewed the return before submission with an electronic draft copy”

Form 990, Page 6, Part VI, Line 15A

“Compensation was determined by the governance/hr committee and approved by the board of directors”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Invest Appalachia Inc
EIN
84-2748180
Phone
3046446001
Address
1456 PATTON AVE SUITE D, ASHEVILLE, NC 28806

Signing Officer

Name
Andrew Crosson
Title
Executive Director
Phone
3046446001
Signed
2023-11-03

Organization Details

Principal Officer
Andrew Crosson
Formed
2019
Legal Domicile
De
Voting Board Members
13
Independent Board Members
13
Employees
2

Preparer

Firm
Craft Waninger Noble & Company Pllc
Address
1018 IVAL JAMES BLVD STE B, RICHMOND, KY 40475
Preparer
Samuel L Waninger
Phone
8596234027
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Invest appalachia (ia) is a regional impact investment platform designed by and for the people of central appalachia. Ia provides blended investment capital to strengthen business opportunities, build equitable local wealth, advance critical sectors, and increase quality of life for everyone in central appalachia. Ia was initiated through the appalachia funders network and developed by a collaborative group of regional leaders representing cdfis, public and private philanthropic entities, local institutions, and community organizations.”

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IRS990/MissionDesc0INVEST APPALACHIA (IA) IS A REGIONAL IMPACT INVESTMENT PLATFORM DESIGNED BY AND FOR THE PEOPLE OF CENTRAL APPALACHIA. IA PROVIDES BLENDED INVESTMENT CAPITAL TO STRENGTHEN BUSINESS OPPORTUNITIES, BUILD EQUITABLE LOCAL WEALTH, ADVANCE CRITICAL SECTORS, AND INCREASE QUALITY OF LIFE FOR EVERYONE IN CENTRAL APPALACHIA. IA WAS INITIATED THROUGH THE APPALACHIA FUNDERS NETWORK AND DEVELOPED BY A COLLABORATIVE GROUP OF REGIONAL LEADERS REPRESENTING CDFIS, PUBLIC AND PRIVATE PHILANTHROPIC ENTITIES, LOCAL INSTITUTIONS, AND COMMUNITY ORGANIZATIONS.
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IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc0GRANT AWARDS
IRS990/OtherExpensesGrp/ProgramServicesAmt0801050
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANDREW CROSSON
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0331054
IRS990/PYRevenuesLessExpensesAmt0204449
IRS990/PYSalariesCompEmpBnftPaidAmt0113122
IRS990/PYTotalExpensesAmt0444176
IRS990/PYTotalRevenueAmt0648625
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0648625
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0150922
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0131752
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04875134
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt05868
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt095
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06030
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt05868
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IRS990ScheduleA/PublicSupportCY170Pct00.99880
IRS990ScheduleA/PublicSupportTotal170Amt04875134
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03943835
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0648625
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/RevenueSubtotalAmt03949703
IRS990ScheduleD/TotalExpensesPerForm990Amt01332606
IRS990ScheduleD/TotalRevenuePerForm990Amt03949703
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03949703
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INVEST APPALACHIA (IA) IS A REGIONAL IMPACT INVESTMENT PLATFORM DESIGNED BY AND FOR THE PEOPLE OF CENTRAL APPALACHIA. IA PROVIDES BLENDED INVESTMENT CAPITAL TO STRENGTHEN BUSINESS OPPORTUNITIES, BUILD EQUITABLE LOCAL WEALTH, ADVANCE CRITICAL SECTORS, AND INCREASE QUALITY OF LIFE FOR EVERYONE IN CENTRAL APPALACHIA. IA WAS INITIATED THROUGH THE APPALACHIA FUNDERS NETWORK AND DEVELOPED BY A COLLABORATIVE GROUP OF REGIONAL LEADERS REPRESENTING CDFIS, PUBLIC AND PRIVATE PHILANTHROPIC ENTITIES, LOCAL INSTITUTIONS, AND COMMUNITY ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE COMMITTEE REVIEWED THE RETURN BEFORE SUBMISSION WITH AN ELECTRONIC DRAFT COPY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION WAS DETERMINED BY THE GOVERNANCE/HR COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/StatesWhereCopyOfReturnIsFldCd1DE
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0220408
IRS990/TotalAssetsEOYAmt03205567
IRS990/TotalAssetsGrp/BOYAmt0220408
IRS990/TotalAssetsGrp/EOYAmt03205567
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03943835
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085846
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01246760
IRS990/TotalFunctionalExpensesGrp/TotalAmt01332606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015959
IRS990/TotalLiabilitiesEOYAmt0384021
IRS990/TotalLiabilitiesGrp/BOYAmt015959
IRS990/TotalLiabilitiesGrp/EOYAmt0384021
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204449
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02821546
IRS990/TotalProgramServiceExpensesAmt01246760
IRS990/TotalReportableCompFromOrgAmt0111941
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05868
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03949703
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0220408
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03205567
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01456 D PATTON AVE
IRS990/USAddress/CityNm0ASHEVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028806
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.INVESTAPPALACHIA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW CROSSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03046446001
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INVEST APPALACHIA INC
ReturnHeader/Filer/BusinessNameControlTxt0INVE
ReturnHeader/Filer/EIN0842748180
ReturnHeader/Filer/PhoneNum03046446001
ReturnHeader/Filer/USAddress/AddressLine1Txt01456 PATTON AVE SUITE D
ReturnHeader/Filer/USAddress/CityNm0ASHEVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028806
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383658083
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRAFT WANINGER NOBLE & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01018 IVAL JAMES BLVD STE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RICHMOND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040475
ReturnHeader/PreparerPersonGrp/PhoneNum08596234027
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL L WANINGER
ReturnHeader/ReturnTs02023-11-05T02:01:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ANDREW
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CROSSON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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