philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Appalachian Commerce & Development FY2023 filing

Tax-deductible

Worthington, KY501(c)(3)Since 2022Community Development EIN 88-1910496Revenue $50K in FY2023

On file with the IRS610 1st St, 41183-9417 · Worthington, KYTax-exempt since Jul 2022Publicly supported — 509(a)(2)

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To grow the regional economy and quality of life by providing resources for job Development, business creation, expansion, retention, new business recruitment and community Development

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $96K a year · 74% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$150K
166% of total assets
Concern: liabilities are 166% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50K
+73% vs prior year
Spent
$132K
To programs
100%
Net assets
−$60K
By yearFY2022–FY2025
Revenue
$50K
FY2023▲ +73%
Tap a bar for its year
Revenue by fiscal year
FY2022$29K
FY2023$50K
FY2024$265K
FY2025$172K
Expenses
$132K
FY2023▲ ×17
Tap a bar for its year
Expenses by fiscal year
FY2022$8K
FY2023$132K
FY2024$439K
FY2025$321K
Net assets
−$60K
FY2023▼ -376%
Tap a bar for its year
Net assets by fiscal year
FY2022$22K
FY2023−$60K
FY2024−$233K
FY2025−$338K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $132K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Lori McCoy
Secretary
$0Pt VII · Sec A
Alona Gilliam
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Kristie Patterson
Vice President
$0Pt VII · Sec A
See Appalachian Commerce & Development executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts regional economy and quality of life through job and business support.

Questions for Appalachian Commerce & Development

Tap to ask. Appalachian Commerce & Development sees how many people are interested.

Your first name shows with your question. Appalachian Commerce & Development answers here, for everyone.

Provided by the organization

Know this org? Add your story

2 programs · $132K · in their own filed words · FY2023
01

The mission of the Empower Academy is provide educational opportunities in the beauty field to provide skills sets that can be used to obtain jobs in the beauty industry.

$129Kprogram expense
02

The mission is to grow the regional economy and quality of life by providing resources for job development, business creation, expansion, retention, new business recruitment, and community development. By year end 2022, the organization had purchased to repurpose an old high school in the local downtown area of Russell, KY.

$3Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$50K
Ln 12
Fees for servicesLn 2g$37K
Other incomeLn 4–11$7K
Gifts and grantsLn 1h$6K
Money outPt IX
$132K
Ln 25
Programscol B$132K
Owns and owesPt X
−$60K
net assets · Ln 32
Cash and savingsLn 1–2$987
Total assetsLn 16$90K
LiabilitiesLn 26$150K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6K
Fees for servicesLn 2g$37K
Investment incomeLn 3$12
Other incomeLn 4–11$7K
Total revenueLn 12$50K
Assets in detailPt X, end of year
CashLn 1$987
Cash and savings togetherLn 1–2$987
Land, buildings, equipmentLn 10c$89K
Total assetsLn 16$90K
LiabilitiesLn 26$150K
Net assetsLn 32−$60K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$2K$987
Land, buildings, equipmentLn 10c$20K$89K
Total assetsLn 16$22K$90K
LiabilitiesLn 26$0$150K
Net assetsLn 32$22K−$60K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$23K$23K
Management feesLn 11a$3K$3K
Legal feesLn 11b$1K$1K
Lobbying feesLn 11d$2K$2K
Advertising and promotionLn 12$416$416
Office expensesLn 13$4K$4K
OccupancyLn 16$89K$89K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$588$588
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$132K$132K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $172K$321K−$149K−$338K 990 PDF
FY2024 $265K$439K−$174K−$233K 990 PDF
FY2023 Viewing $50K$132K−$81K−$60K 990 PDF
FY2022 $29K$8K$22K$22K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $50,477 revenue, 12 lines filed
I-8 Contributions and grants$6,292
I-9 Program service revenue$37,023
I-10 Investment income$12
I-11 Other revenue$7,150
I-12 Total revenue$50,477
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$22,534
I-16a Professional fundraising fees$0
I-17 Other expenses$109,017
I-18 Total expenses$131,551
I-19 Revenue less expenses−$81,074
Part VI · Governance 4 of 4 board members independent, 5 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $50,477 across 5 lines filed
Lines not itemized here account for $7,150 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$6,292
VIII-1h Total contributions, gifts and grants$6,292
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $37,023$37,023
VIII-3 Investment incomeRelated to mission $12$12
VIII-12 Total revenueRelated to mission $44,185 · Unrelated business $0 · Excluded from tax $0$50,477
Part IX · Statement of functional expenses $131,551 across 10 lines filed
IX-7 Other salaries and wagesPrograms $22,534$22,534
IX-11a Management feesPrograms $3,496$3,496
IX-11b Legal feesPrograms $1,000$1,000
IX-11d Lobbying feesPrograms $1,657$1,657
IX-12 Advertising and promotionPrograms $416$416
IX-13 Office expensesPrograms $4,396$4,396
IX-16 OccupancyPrograms $89,020$89,020
IX-20 InterestPrograms $1,731$1,731
IX-22 Depreciation, depletion and amortizationPrograms $588$588
IX-24 Other expenses (24a–d)Programs $6,713$6,713
IX-25 Total functional expensesPrograms $131,551 · Management $0 · Fundraising $0$131,551
Part X · Balance sheet $90,277 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $1,808$987
X-10c Land, buildings and equipment, netStart of year $19,765$89,290
X-16 Total assetsStart of year $21,573$90,277
X-24 Unsecured notes and loans payable$149,778
X-26 Total liabilitiesStart of year $0$149,778
X-32 Total net assets or fund balancesStart of year $21,573−$59,501
X-33 Total liabilities and net assetsStart of year $21,573$90,277
Part XI · Reconciliation of net assets −$59,501 net assets at year end
XI-1 Total revenue$50,477
XI-2 Total expenses$131,551
XI-3 Revenue less expenses−$81,074
XI-4 Net assets at start of year$21,573
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$59,501

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.