Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1982.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
78 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
13 people listed on the 990; $183K paid to officers and key staff.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| J Connally Bradley | $193,103 | $183,084 | $170,188 | $165,713 | $164,620 | $159,904 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Finances qualified small businesses to boost economic development in South Carolina.
Questions for Appalachian Development Corporation
Your first name shows with your question. Appalachian Development Corporation answers here, for everyone.
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Adc is a certified development company authorized by the small business administration in the state of south carolina to facilitate sba 504 loans. The sba 504 loan offers long-term, fixed rate subordinate financing for acquisition AND/OR renovation of capital assets including land, buildings and equipment, as well as eligible soft costs…
Adc is a sub-recipient of grant funds awarded to the south carolina appalachian council of governments (scacog) by the appalachian regional commission (arc). Adc is responsible for the following two grants: the arc revolving loan fund and the arc entrepreneurial initiative revolving loan fund.
Adc participates in the U.S. Department of agriculture ("usda") intermediary relending program ("irp").
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.7M | $3.3M |
| InvestmentsLn 11–13 | $5.3M | $5.1M |
| Land, buildings, equipmentLn 10c | $14K | $5K |
| Total assetsLn 16 | $8.4M | $8.4M |
| LiabilitiesLn 26 | $2.2M | $2.1M |
| Net assetsLn 32 | $6.2M | $6.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $231K | $132K | $99K | |
| Other salaries and wagesLn 7 | $219K | $204K | $15K | |
| Pension plan contributionsLn 8 | $5K | $5K | ||
| Other employee benefitsLn 9 | $20K | $20K | ||
| Payroll taxesLn 10 | $32K | $24K | $8K | |
| Accounting feesLn 11c | $26K | $21K | $5K | |
| Other fees for servicesLn 11g | $7K | $5K | $1K | |
| Office expensesLn 13 | $16K | $13K | $3K | |
| Information technologyLn 14 | $33K | $27K | $6K | |
| OccupancyLn 16 | $37K | $31K | $7K | |
| TravelLn 17 | $9K | $6K | $4K | |
| InterestLn 20 | $16K | $16K | −$164 | |
| Depreciation, depletion and amortizationLn 22 | $9K | $7K | $2K | |
| InsuranceLn 23 | $16K | $13K | $3K | |
| Other expenses (24a–d)Ln 24 | $34K | $33K | $1K | |
| All other expensesLn 24e | −$418 | −$750 | $332 | |
| Total functional expensesLn 25 | $711K | $558K | $153K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $905K | $846K | $59K | $6.4M | 990 PDF |
| FY2024 Viewing | $843K | $711K | $133K | $6.3M | 990 PDF |
| FY2023 | $784K | $698K | $85K | $6.2M | 990 PDF |
| FY2022 | $712K | $697K | $15K | $6.1M | 990 PDF |
| FY2021 | $609K | $541K | $68K | $6.0M | 990 PDF |
| FY2020 | $786K | $543K | $243K | $6.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $843,266 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, no flags
Part VIII · Statement of revenue $843,266 across 3 lines filed
Part IX · Statement of functional expenses $710,510 across 16 lines filed
Part X · Balance sheet $8,393,347 assets, 13 lines filed
Part XI · Reconciliation of net assets $6,320,183 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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