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Nonprofiteer
← FOUNDATION FOR APPALACHIAN KENTUCKY INC

Form 990 for tax year 2022

Filed by FOUNDATION FOR APPALACHIAN KENTUCKY INC.

Totals

Total revenue
$20,144,039
Total expenses
$13,843,338
Contributions and grants received
$20,767,034
Grants paid
$10,927,359
Program service revenue
$0
Investment income
$287,460
Other revenue
-$910,455
Total assets, end of year
$29,222,874
Total liabilities, end of year
$2,870,527
Net assets or fund balances, end of year
$26,352,347
Program services expenses (Part IX)
$12,593,415
Management and general expenses
$716,693
Fundraising expenses
$533,230
Program service expenses (Part III)
$12,593,415

Program services were 91.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $505,978

  • 1f · All other contributions, gifts and grants

    $20,261,056

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $287,460 · related or exempt $0 · unrelated business $0 · excluded $287,460

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11a · Other revenue: Administrative fees

    total $203,249 · related or exempt $203,249 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Miscellaneous

    total $145,656 · related or exempt $145,656 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Realized loss on investments

    total -$1,259,360 · related or exempt $0 · unrelated business $0 · excluded -$1,259,360

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    -$910,455

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,620,777 · program services $6,620,777

  • 2 · Grants to domestic individuals

    total $4,306,582 · program services $4,306,582

  • 5 · Compensation of officers, directors and key employees

    total $113,636 · program services $0 · management and general $56,818 · fundraising $56,818

  • 7 · Other salaries and wages

    total $729,144 · program services $475,777 · management and general $181,468 · fundraising $71,899

  • 9 · Other employee benefits

    total $156,711 · program services $105,337 · management and general $37,816 · fundraising $13,558

  • 10 · Payroll taxes

    total $71,390 · program services $41,507 · management and general $19,721 · fundraising $10,162

  • 11f · Fees: investment management

    total $84,138 · program services $84,138 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $470,276 · program services $352,707 · management and general $117,569 · fundraising $0

  • 12 · Advertising and promotion

    total $144,639 · program services $0 · management and general $0 · fundraising $144,639

  • 13 · Office expenses

    total $273,063 · program services $90,111 · management and general $92,841 · fundraising $90,111

  • 14 · Information technology

    total $34,678 · program services $11,444 · management and general $11,790 · fundraising $11,444

  • 16 · Occupancy

    total $177,761 · program services $51,546 · management and general $80,174 · fundraising $46,041

  • 17 · Travel

    total $117,628 · program services $38,817 · management and general $38,817 · fundraising $39,994

  • 19 · Conferences, conventions and meetings

    total $102,728 · program services $33,900 · management and general $33,900 · fundraising $34,928

  • 20 · Interest

    total $20,688 · program services $6,827 · management and general $7,034 · fundraising $6,827

  • 22 · Depreciation, depletion and amortization

    total $15,839 · program services $5,227 · management and general $5,385 · fundraising $5,227

  • 23 · Insurance

    total $29,894 · program services $0 · management and general $29,894 · fundraising $0

  • 24a · Other expenses: Program expenses

    total $326,850 · program services $326,850 · management and general $0 · fundraising $0

  • 24b · Other expenses: Bank service charges

    total $40,284 · program services $40,284 · management and general $0 · fundraising $0

  • 24c · Other expenses: Miscellaneous

    total $4,799 · program services $1,584 · management and general $1,633 · fundraising $1,582

  • 24d · Other expenses: Licenses and fees

    total $1,833 · program services $0 · management and general $1,833 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,153,206 · end of year $3,217,717

  • 2 · Savings and temporary cash investments

    beginning of year $1,502,169 · end of year $5,315,218

  • 3 · Pledges and grants receivable

    beginning of year $1,046,206 · end of year $1,750,937

  • 7 · Other notes and loans receivable

    beginning of year $975,105 · end of year $1,073,434

  • 10a · Land, buildings and equipment: cost or other basis

    $463,931

  • 10b · Land, buildings and equipment: accumulated depreciation

    $99,638

  • 10c · Land, buildings and equipment, net

    beginning of year $367,103 · end of year $364,293

  • 11 · Investments: publicly traded securities

    beginning of year $15,314,297 · end of year $14,691,059

  • 15 · Other assets

    beginning of year $2,944,013 · end of year $2,810,216

  • 17 · Accounts payable and accrued expenses

    beginning of year $207,389 · end of year $204,747

  • 18 · Grants payable

    beginning of year $417,834 · end of year $436,867

  • 19 · Deferred revenue

    beginning of year $75,000 · end of year $75,000

  • 21 · Escrow or custodial account liability

    beginning of year $1,047,542 · end of year $1,913,622

  • 23 · Secured mortgages and notes payable

    beginning of year $162,818 · end of year $240,291

  • 27 · Net assets without donor restrictions

    beginning of year $8,297,694 · end of year $1,781,696

  • 28 · Net assets with donor restrictions

    beginning of year $13,093,822 · end of year $24,570,651

Mission and programs · 2022

Mission

Our mission is to be a catalyst for community collaboration and charitable giving; to create permanent endowment funds as a sustaining resource to improve quality of life and place in eastern Kentucky.

Activities or mission (Part I)

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, 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; and (D) to distribute property to qualified charitable organizations for charitable purposes.

  • During the past year, the Foundation: (1) 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; (2) met national standards for US community foundations as set forth by the Community Foundations National Standards Board at the National Council on Foundations; (3) provided fiscal and administrative sponsorships for numerous organizations; and (4) 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.

    Expenses $12,593,415 · Grants $10,927,359 · Revenue $19,856,579

As filed on the 2022 return.

Listed in Part VII

  • Gerry Roll

    Executive Director

    Total calculated
    $113,636
    From this org
    $89,172
    From related orgs
    $0
    Other
    $24,464
    Hours/week
    40 + 1 related

  • Joel Brashear

    Chair

    Total calculated
    $0
    Hours/week
    7

  • Kathy Atkins

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Cory Chesnut

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Alison F Davis

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Keith Gabbard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Janet Smith

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Maria Braman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Josh Howard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Haley McCoy

    Director

    Total calculated
    $0
    Hours/week
    1

  • Crissy Fiscus

    Director

    Total calculated
    $0
    Hours/week
    1

  • Danny Maggard

    Director

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303199349324975

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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