Appalachian Mountain Club

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note N, Extraordinary Grants, Conditional Grant):

"During April 2020, the AMC received a conditional grant from Primary Bank through the Small Business Administration's ('SBA') Paycheck Protection Program ('PPP') in the amount of $3,281,600. The PPP funding is legally structured as a forgivable loan by the SBA. In order to achieve full or partial forgiveness of the loan, the AMC was required to spend the funding for specific purposes and also generally maintain its full-time equivalent level of staffing and wage related conditions over a defined time period. The AMC has elected to account for the PPP loan as a conditional grant... During the year ended December 31, 2020 management believes the AMC has met the substantial requirements for full forgiveness of the loan and as such, has recorded a grant in the amount of $3,281,600. Management deems the forgiveness application and approval process to be an administrative matter and not a significant condition to the recognition of the grant. Final determination with regards to forgiveness of the conditional grant will be made by the SBA... Subsequent to December 31, 2020, the AMC applied for, and received, full forgiveness of the $3,281,600 of funds received..."

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note N, Extraordinary Grants, New Hampshire Nonprofit Emergency Relief Fund Grant):

"During September 2020, the AMC received a grant from the State of New Hampshire Governor's Office of Emergency Relief and Recovery through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act in the amount of $1,000,000. During the year ended December 31, 2020 the AMC has recorded grant revenue in the amount of $1,000,000..."

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note I, Deferred Unemployment Claims and Payroll Taxes):

"During the year ended December 31, 2020, the AMC deferred the deposit and payment of the employer's portion of Social Security taxes as provided for in the Federal CARES Act. This amounted to $456,584 as of December 31, 2020... The payment of the deferrals are due in equal installments of $228,292 on December 31, 2021 and December 31, 2022.

"During the year ended December 31, 2020, the AMC deferred the deposit and payment of the costs incurred to pay COVID-19 related unemployment claims primarily to the states of Massachusetts and New Hampshire as provided for in the Federal CARES Act. This amounted to approximately $100,000 as of December 31, 2020..."

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note B re: In-Kind Contribution):

"During 2020, the AMC received a credit, primarily from the states of Massachusetts and New Hampshire, for 50% of the costs incurred to pay COVID-19 related unemployment claims as provided for in the Federal CARES Act. The credit amounted to approximately $100,000 for the year ended December 31, 2020..."

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note L, Commitments, Advanced Deposit on Future Land Purchase):

"In December 2018, the AMC received a leadership gift of $10 million from the Richard King Mellon Foundation supporting the planned purchase of 26,740 acres of working forestland in Maine for conservation and sustainable forestry purposes. Partnering with The Conservation Fund ('TCF'), a nationally recognized nonprofit, a purchase and sale agreement was executed in January 2019 that provides for the AMC to purchase the land from TCF on or before December 30, 2022. In February 2019 TCF closed on the land purchase with the seller for $18.5 million and the AMC paid TCF $10 million as an advance payment under the AMC–TCF purchase and sale agreement. A 70 acre parcel valued at $46,000 was transferred to AMC and recorded as land. In December 2020, the AMC paid TCF an additional $2.5 million as an advance payment under the AMC–TCF purchase and sale agreement. ... During the holding period prior to the AMC's purchase, TCF will own the property now known as the Pleasant River Headwaters Forest. The AMC's purchase price will be TCF's net purchase price from the seller plus closing, interest, carrying and other costs incurred by TCF, less sustainable forestry net proceeds during the period of TCF's ownership. The AMC has undertaken a campaign to raise $25 million, including the $10 million contribution received in 2018, to fund the purchase of Pleasant River Headwaters Forest and provide for long-term stewardship of AMC's Maine Woods Initiative, LLC land holdings that will total more than 100,000 acres with this purchase."

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note O, COVID-19):

"The COVID-19 outbreak in the United States, which began affecting the operations of the AMC in March 2020, continues to cause business disruption throughout the world. The [audited] consolidated financial statements reflect decreases in certain balances and results from 2019 levels because of the response to COVID-19, most significantly in Outdoor Program Centers and Programs operating revenues and expenses. The financial impact and duration cannot be reasonably estimated at this time; however, the AMC expects this to continue to negatively impact the operating results of these balances in 2021."

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2020 (Note P, Subsequent Event):

"In March 2021, the AMC obtained a second Paycheck Protection Program loan from Primary Bank in the amount of $2,000,000 pursuant to the Federal Consolidated Appropriations Act signed in December 2020. The unsecured loan, which is guaranteed by the U.S. Small Business Administration ('SBA'), will be forgiven if certain conditions are met. In order to qualify for forgiveness, funds from the loan may only be used for eligible payroll costs, employee benefits, rent, utilities, and certain other covered expenses as defined in the Act, and certain wage and employment levels need to be maintained. The AMC expects to meet the conditions for a majority of the loan amount in the elected 'covered period' following the loan. However, final determination of any forgiveness will be determined by the SBA. Any amounts not forgiven by the SBA will then be required to be repaid in principal installments plus 1% interest per annum over the term of the loan ending March 2026."

According to the Appalachian Mountain Club (AMC) 2020 tax filing, AMC reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 4a):

"Rebecca Rollins – $35,200 severance package, included in reportable compensation per 990 Part VII, Section A, Line 1a [Compensation of Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees].

"John Kelly – $24,660 severance package, included in reportable compensation per 990 Part VII, Section A, Line 1a."

[Rebecca Rollins is reported as "VP & Chief Comm. & Marketing Officer," with total compensation of $137,484 in 2020; John Kelly is reported as "Lead Web Developer/Architect," with total compensation of $152,437 in 2020 (IRS Form 990, Part VII, Section A).]