APPALACHIAN REAL ESTATE DEVELOPMENT CORPORATION

EIN: 562161660 501(c)(3) Housing & Shelter

BOONE, NC

Total Revenue
$17,265,333
Total Expenses
$7,274,103
Total Assets
$287,782,771
Net Assets
$47,925,079
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
NC
Principal Officer
JAMES J BROWN
Phone
8282622060
Tax Period
2024-07-01 to 2025-06-30

APPALACHIAN REAL ESTATE DEVELOPMENT CORPORATION, founded in 1999, is a mid-sized nonprofit in the Housing & Shelter sector that reported $17.3M in total revenue in fiscal year 2024. Revenue surged 81% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.0M, a strong 58% operating margin.

Mission

TO EXERCISE ANY AND ALL RIGHTS OF OWNERSHIP WITH RESPECT TO REAL PROPERTY AND PERSONAL PROPERTY IN CONNECTION THEREWITH FOR THE BENEFIT OF THE UNIVERSITY, INCLUDING TO ACQUIRE, OWN, DEVELOP, LEASE, FINANCE, MANAGE, OPERATE, SELL, AND TRANSFER PROPERTY. TO DO ANY AND ALL OTHER ACTS AND THINGS THAT ARE CONSISTENT WITH THE PURPOSES ABOVE AND THAT MAY BE DEEMED DESIRABLE OR EXPEDIENT FOR THE BENEFIT OF THE UNIVERSITY, ITS PROGRAMS, AND ITS FACULTY, STAFF AND STUDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $14,882,942
Investment Income $2,382,391
Other Revenue $0
TOTAL REVENUE $17,265,333

Expense Breakdown

Grants Paid $0
Salaries & Benefits $444,211
Fundraising Expenses $0
Program Expenses $7,067,899
Other Expenses $6,829,892
TOTAL EXPENSES $7,274,103

Year-over-Year Comparison

2024 2023 Change
Revenue $17,265,333 $9,554,888 +0.8%
Expenses $7,274,103 $7,174,777 +0.0%
Net Income $9,991,230 $2,380,111 +3.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
22
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES J BROWN PRESIDENT 1.00
Officer Director
$0 $0 $0
DAVID T JAMISON DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW C DULL SECRETARY & TREASURER 7.00
Officer Director
$0 $0 $0
SCOTT K LAMPE DIRECTOR 1.00
Director
$0 $0 $0
JAMES M BARNES CHAIR 1.00
Officer Director
$0 $0 $0
FAIRLEY BELL COOK VICE CHAIR 1.00
Officer Director
$0 $0 $0
GREG LOVINS DIRECTOR 1.00
Director
$0 $0 $0
CANTEY ALEXANDER DIRECTOR 1.00
Director
$0 $0 $0
NICK KATERS DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $17,265,333 $7,274,103 $287,782,771 $9,991,230
2024 $9,554,888 $7,174,777 $93,971,383 $2,380,111
2023 $8,834,099 $10,440,577 $93,486,656 $-1,606,478
2022 $6,456,684 $5,799,935 $99,024,525 $656,749
2021 $5,517,801 $4,533,449 $97,614,551 $984,352
2020 $4,496,463 $9,458,097 $21,920,577 $-4,961,634
2019 $2,322,944 $126,633 $27,020,172 $2,196,311
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