Appalachian Development Corporation

Nonprofit profile at a glance

EIN
570735286
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Greenville, SC, USA
Phone
8643822350
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$905,097
Expenses
$846,391
Assets
$8,350,949
Liabilities
$1,957,288

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • KIM MODE (PRESIDENT)

Highest reported compensation

  • J CONNALLY BRADLEY (EXECUTIVE DI): $229,867 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Adc is a nonprofit organization formed to further the economic development of South Carolina by providing multiple financing options to qualified small businesses.

What it reported doing in 2024

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 such as architect, engineering, and environmental fees. Projects are financed in partnership with financial institutions who obtain a senior position on the project assets.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 77
  • Accountability: 90
  • Sustainability: 57
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.8%; rating input score 71
  • Program expense ratio: 77.4%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 9.87; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 27.2%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -5.4% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -5.4% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 70.8% of revenue deployed · 77.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $655K in reported program spending
  • Leadership: top reported pay $230K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.