APPALACHIAN DEVELOPMENT CORPORATION

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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

1982

Legal Domicile

Principal Officer

J CONNALLY BRADLEY

Phone

8643822350

Tax Period

2024-10-01 to 2025-09-30

APPALACHIAN DEVELOPMENT CORPORATION, founded in 1982, is a small nonprofit that reported $905K in total revenue in fiscal year 2024. Expenses of $846K left a modest 6% surplus.

Mission

ADC IS A NONPROFIT ORGANIZATION FORMED TO FURTHER THE ECONOMIC DEVELOPMENT OF SOUTH CAROLINA BY PROVIDING MULTIPLE FINANCING OPTIONS TO QUALIFIED SMALL BUSINESSES.

Program Service Accomplishments

Program 1

Expenses: $337,159 Revenue: $578,684

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...

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.

Program 2

Expenses: $246,283 Revenue: $257,534

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.

Program 3

Expenses: $53,431 Revenue: $27,483

ADC PARTICIPATES IN THE U.S. DEPARTMENT OF AGRICULTURE ("USDA") INTERMEDIARY RELENDING PROGRAM ("IRP").

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $884,386

Investment Income $20,711

Other Revenue $0

TOTAL REVENUE $905,097

Expense Breakdown

Grants Paid $0

Salaries & Benefits $624,059

Fundraising Expenses $0

Program Expenses $655,455

Other Expenses $222,332

TOTAL EXPENSES $846,391

Year-over-Year Comparison

	2024	2023	Change
Revenue	$905,097	$843,266	+0.1%
Expenses	$846,391	$710,510	+0.2%
Net Income	$58,706	$132,756	-0.6%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$229,867

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
J CONNALLY BRADLEY	EXECUTIVE DI	40.00	Officer	$193,103	$36,764	$229,867
KIM MODE	PRESIDENT	0.20	Officer Director	$0	$0	$0
RALPH GUARINO	VICE PRESIDE	0.20	Officer Director	$0	$0	$0
GRANT NICHOLSON	SECRETARY/TR	0.20	Officer Director	$0	$0	$0
RICHARD BLACKWELL	DIRECTOR	0.20	Director	$0	$0	$0
BEN CALHOUN	DIRECTOR	0.20	Director	$0	$0	$0
JIM COOK	DIRECTOR	0.20	Director	$0	$0	$0
SCOTT DUNN	DIRECTOR	0.20	Director	$0	$0	$0
TAVIA GADDY	DIRECTOR	0.20	Director	$0	$0	$0
KELLY PARNELL	DIRECTOR FRO	0.20	Director	$0	$0	$0
STEVE PELISSIER	COG APPOINTE	0.20	Director	$0	$0	$0
STUART PLYLER	DIRECTOR	0.20	Director	$0	$0	$0
JORDAN PORTILLO	DIRECTOR	0.20	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	$905,097	$846,391	$8,350,949	$58,706
2024	$843,266	$710,510	$8,393,347	$132,756
2023	$783,553	$698,341	$8,353,251	$85,212
2022	$712,263	$697,360	$8,430,332	$14,903
2021	$608,788	$540,834	$8,594,872	$67,954
2020	$785,850	$542,837	$8,683,329	$243,013
2019	$627,651	$570,793	$8,541,092	$56,858
2018	$692,282	$610,367	$8,580,425	$81,915