Appalachian Real Estate Development Corporation

Public charity · Grantmaker Boone, NC EIN: 56-2161660

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.

Key facts about Appalachian Real Estate Development Corporation

EIN
56-2161660
Latest 990 filing
Form 990, 2025
Total assets
$287,782,771

Data from IRS Form 990, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990 · View filing

Total Assets

$287.8M

+206.2% YoY

Revenue

$17.3M

+80.7% YoY

Net Investment Income

$2.4M

+859.5% YoY

Expenses

$7.3M

+1.4% YoY

How Appalachian Real Estate Development Corporation gives

  • Giving fell 69% from 2020 to 2023. Method

From the foundation's IRS Form 990 filings. Methodology.

About Appalachian Real Estate Development Corporation

Based on IRS filings

Appalachian Real Estate Development Corporation is a public charity focused on Housing & Shelter, based in Boone, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $287.8M in total assets. Net investment income was $2.4M.

Focus Areas

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Cities

Boone

Giving Over Time

Total grant dollars and number of grants per year

$0$2M$4M$6M$8M1 grant2020 1 grant2021 1 grant2022 1 grant2023 0 grants2024 0 grants2025

From 2020 to 2023, annual grant giving ranged from $805K (2021) to $6.5M (2020). In 2023 it made 1 grant totaling $2.0M.

Grant Insights

How this funder distributes its grants

Grant Size Distribution

3 grants across all recorded years

<$50K$50–100K$100–250K$250–500K1$500K–1M2$1–5M$5M+

The most common grant size was in the $1–5M range: 2 grants of 3 (67%).

Giving History

Grant recipients and amounts by year

No grants recorded for 2025.

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Net Investment Income
$0$5M$10M$15M$20M2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$287,782,771$93,971,383$93,486,656
Revenue$17,265,333$9,554,888$8,834,099
Expenses$7,274,103$7,174,777$10,440,577
Net Investment Income$2,382,391$248,290$181,138

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2022)
  2. Updated Form 990 for fiscal year 2023 (received by the IRS December 15, 2023)
  3. Updated Form 990 for fiscal year 2020 (received by the IRS April 21, 2021)
  4. Updated Form 990 for fiscal year 2021 (received by the IRS November 22, 2021)
  5. IRS filings on file for fiscal years 2020–2025

Leadership & Key People

Officers and directors from IRS filings

Appalachian Real Estate Development Corporation is led by James J. Brown, President on every filing since 2022; none of the 9 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • James J. Brown

    President

    On filings since 2022

    1 hr/week

    No compensation reported

  • James M. Barnes

    Chair

    Director → Chair, 2024

    On filings since 2020

    1 hr/week

    No compensation reported

  • Scott K. Lampe

    Director

    On filings since 2020

    1 hr/week

    No compensation reported

  • David T. Jamison

    Director

    On filings since 2023

    1 hr/week

    No compensation reported

  • Cantey Alexander

    Director

    On filings since 2024

    1 hr/week

    No compensation reported

  • Nick Katers

    Director

    On filings since 2024

    1 hr/week

    No compensation reported

  • Greg Lovins

    Director

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Matthew C. Dull

    Secretary & Treasurer

    Secretary → Secretary & Treasurer, 2024

    On filings since 2020

    7 hrs/week

    No compensation reported

  • Fairley Bell Cook

    Vice Chair

    On filings since 2024

    1 hr/week

    No compensation reported

Former officers (3)
  • Former: John E. Adams (2024) — Director
  • Former: Sharon Bell (2020–2022) — Vice President
  • Former: JJ Brown (2020–2021) — President

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Appalachian Real Estate Development Corporation

How large is Appalachian Real Estate Development Corporation?

Appalachian Real Estate Development Corporation reported $287.8M in total assets on its 2025 IRS Form 990. Its revenue that year was $17.3M.

What is Appalachian Real Estate Development Corporation?

Appalachian Real Estate Development Corporation is a public charity focused on Housing & Shelter, based in Boone, NC. It holds $287.8M in total assets as of 2025.

Where does Appalachian Real Estate Development Corporation operate?

Appalachian Real Estate Development Corporation has awarded grants in North Carolina.

What is Appalachian Real Estate Development Corporation's EIN?

Appalachian Real Estate Development Corporation's EIN (Employer Identification Number) is 56-2161660. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990 filings.

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