2024-09-09T12:47:24-04:00 2024-04-30 201416603 BALDWIN CPAS PLLC 713 W MAIN ST RICHMOND KY 404751351 990 2023-05-01 611254830 APPALACHIAN INVESTMENT CORPORATION APPA 8599862373 431 CHESTNUT STREET BEREA KY 40403 ROBIN GABBARD PRESIDENT 8599862373 2024-09-09 true true MYRON D FISHER P00078455 8596269040 2024-09-09 2023 2024-08-08 14:25:15Z ROBIN GABBARD 125999 false X X 1994 KY APPALACHIAN INVESTMENT CORPORATION WORKS TO INCREASE ECONOMIC ACTIVITY IN THE APPALACHIAN COUNTIES OF KENTUCKY. 4 3 0 6 0 0 131226 117491 1425 8508 0 132651 125999 0 0 0 0 0 18742 41043 18742 41043 113909 84956 2753916 2765399 1661339 1465322 1092577 1300077 APPALACHIAN INVESTMENT CORPORATION WORKS TO INCREASE ECONOMIC ACTIVITY IN THE APPALACHIAN COUNTIES OF KENTUCKY. false false 41043 125999 AT FISCAL YEAR END 2024, AIC HAS 21 LOANS TO SMALL ENTERPRISES FOR A TOTAL OF APPROXIMATELY 2,300,000 (AT GROSS AMOUNT) INVESTED IN APPALACHIAN KENTUCKY. THESE EFFORTS IMPACTED EXISTING JOBS AND HELPED CREATE JOBS. 41043 false false false false false false false false false false false false false false true false true false false false false false false false false false false false true false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false X 4 3 false false false false false false false true true false false true true true true true true true true false KY X X KACIE ZECHMAN 8599862373 431 CHESTNUT STREET BEREA KY 40403 PETER HILLE PRESIDENT 1.00 40.00 X X 0 157206 19940 WILLIAM COOMES CORPORATE VP 1.00 40.00 X 0 90292 20203 KACIE ZECHMAN CORPORATETRE 1.00 40.00 X 0 91185 16476 TONI WELLS CORPORATE SE 1.00 40.00 X 0 74452 14570 HASAN DAVIS BOARD CHAIR 0.50 1.00 X X 0 0 0 ROBIN GABBARD PRESIDENT 0.00 0.00 X X 0 0 0 ADA SMITH BOARD TREASU 0.50 1.00 X X 0 0 0 413135 71189 false true false INTEREST INCOME ON LOANS 116947 116947 FEE INCOME ON LOANS 544 544 117491 8508 8508 125999 117491 8508 X 25319 25319 98 98 15626 15626 41043 41043 0 0 668610 542305 4172 4756 2081134 2218338 2753916 2765399 7791 7495 1653548 1457827 1661339 1465322 X 1092577 1300077 1092577 1300077 2753916 2765399 X 84956 122544 X false true X true false X 125999 125999 125999 -81501 -122544 -122544 41043 41043 SCHEDULE D, PAGE 3, PART X ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF APRIL 30, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. SCHEDULE D, PAGE 4, PART XII, LINE 2D PROVISION FOR CREDIT LOSSES -122,544 X X X false false false false false false false false false PETER HILLE PRESIDENT 151656 5550 8111 11829 177146 FORM 990, PAGE 6, PART VI, LINE 11B 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. FORM 990, PAGE 6, PART VI, LINE 12C 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. FORM 990, PAGE 6, PART VI, LINE 15A 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 JANUARY 2024. FORM 990, PAGE 6, PART VI, LINE 15B 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. FORM 990, PAGE 6, PART VI, LINE 19 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. FORM 990, PART IX, LINE 11G CONSULTANTS 24,000 0 0 PROFESSIONAL SERVICES 1,319 0 0 TOTAL 25,319 0 0 FORM 990, PART XI, LINE 9 PROVISION FOR CREDIT LOSSES 122,544 MOUNTAIN ASSOCIATION FOR COMMUNITY ECONOMIC DEVELOPMENT INC 433 CHESTNUT STREET BEREA KY 40403 310900246 CMNTY DEV KY 501C3 7 N/A false RIDGECREST ENTERPRISES INC 433 CHESTNUT STREET BEREA KY 40403 611036685 KY MOUNTAIN ASSOCIATION FOR COMMUNITY DEV INC C CORP false true false false false false false false false false false false false false true true true false false false