2023-05-03T15:07:50-05:00 2022-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2021-07-01 223139262 RURAL DEVELOPMENT INC RURA 4138639781 241 MILLERS FALLS ROAD TURNERS FALLS MA 01376 GINA GOVONI EXECUTIVE DIRECTOR 4138639781 2023-04-20 1 GINA GOVONI XXX-XX-XXXX DAVID KELLEHER CPA P01059560 5083669100 2023-04-20 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z GINA GOVONI 241 MILLERS FALLS ROAD TURNERS FALLS MA 01376 420362 0 X WWW.RURALDEVELOPMENTINC.ORG X 1991 MA IT IS THE MISSION OF RURAL DEVELOPMENT, INC. (RDI) TO ADVANCE THE RIGHT OF ALL PEOPLE IN FRANKLIN COUNTY AND THE NORTH QUABBIN REGION TO OCCUPY ENVIRONMENTALLY RESPONSIBLE, ENERGY EFFICIENT, AFFORDABLE HOUSING AND TO IMPROVE ECONOMIC INDEPENDENCE. RDI STRIVES TO PROMOTE ENVIRONMENTAL AWARENESS AND TO OPERATE IN A MANNER THAT IS RESPECTFUL OF THE RURAL CHARACTER OF OUR REGION. 9 9 0 9 0 0 1254267 9533 350222 379542 70 62 2994 31225 1607553 420362 0 0 0 0 0 0 0 0 0 782529 798795 782529 798795 825024 -378433 6024870 13267936 4821373 12442872 1203497 825064 X IT IS THE MISSION OF RDI TO ADVANCE THE RIGHT OF ALL PEOPLE IN FRANKLIN COUNTY AND THE NORTH QUABBIN REGION TO OCCUPY ENVIRONMENTALLY RESPONSIBLE, ENERGY EFFICIENT, AFFORDABLE HOUSING AND TO IMPROVE ECONOMIC INDEPENDENCE. RDI STRIVES TO PROMOTE ENVIRONMENTAL AWARENESS AND TO OPERATE IN A MANNER THAT IS RESPECTFUL OF THE RURAL CHARACTER OF OUR REGION. 0 0 655017 410767 AFFORDABLE HOUSING - THIS PROGRAM OFFERS TWENTY-FIVE UNITS OF AFFORDABLE HOUSING TO LOW TO MODERATE INCOME PERSONS IN ASHFIELD AND ORANGE MASSACHUSETTS. 655017 1 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 36 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 MA X X LISA CORNISH 4138639781 241 MILLERS FALLS ROAD TURNERS FALLS MA 01376 X LINDA DUNLAVY PRESIDENT 1.00 X X 0 0 0 CHRISTOPHER SIKES VICE PRESIDENT 1.00 1.00 X X 0 0 0 CLARE HIGGINS TREASURER 1.00 1.00 X X 0 0 0 REGINA CURTIS SECRETARY 1.00 X X 0 0 0 LESLIE BROWN DIRECTOR 1.00 1.00 X 0 0 0 LEVI ROMAN DIRECTOR 1.00 X 0 0 0 BILL BREITBART DIRECTOR 1.00 X 0 0 0 FAITH WILLIAMS DIRECTOR 1.00 X 0 0 0 SHAUNDELL DIAZ DIRECTOR 1.00 X 0 0 0 SHARON COTTRELL DIRECTOR (UNTIL 11/2021) 1.00 X 0 0 0 GINA GOVONI EXECUTIVE DIRECTOR 20.00 X 0 0 0 0 0 0 0 0 0 0 MARIOS CONSTRUCTION CO INC 262 OLD LYMAN ROAD SO HADLEY MA 01075 CONSTRUCTION 2844317 AUSTIN DESIGN INC 167 MAIN STREET SUITE 302 BRATTLEBORO VT 05301 ARCHITECTUAL ENGINEERING 624640 VALLEY COMMUNITY DEVELOPMENT CORPORATION 256 PLEASANT ST SUITE A NORTHAMPTON MA 01060 DEVELOPERS 355586 2 9533 9533 RENTAL INCOME 531110 332743 332743 INTEREST INCOME ON NOT 900099 46799 46799 379542 62 62 MISCELLANEOUS 531390 31225 31225 31225 420362 410767 0 62 X 186422 95907 90515 3195 3195 26150 26150 310966 297316 13650 5639 5175 464 204247 192131 12116 1683 1683 54678 54678 MISCELLANEOUS 5815 4932 883 798795 655017 143778 0 530693 481794 29131 16362 18016 17184 11503322 819899 3908346 10683423 1408754 1455553 129930 613620 6024870 13267936 342941 1285789 13175 12249 4465257 10602071 0 542763 4821373 12442872 X 1203497 825064 1203497 825064 6024870 13267936 -378433 0 X X 0 1 X 1 0 X 6573 6470 2610 1254267 9533 1279453 325106 294917 289753 353216 410767 1673759 331679 301387 292363 1607483 420300 2953212 0 49615 91929 157999 39706 225048 564297 49615 91929 157999 39706 225048 564297 2388915 298 246 150 70 62 826 298 246 150 70 62 826 331977 301633 292513 1607553 420362 2954038 0.80870 0.86090 0.00030 0.00040 X 0 1 X 625500 625500 2192487 813559 1378928 6340 6340 0 8678995 8678995 10683423 NOTES RECEIVABLE 1455553 C 1455553 ACCRUED DEVELOPER FEE 542763 542763 X PART IV, LINE 2B: THE ESCROW ACCOUNT LIABILITY ON FORM 990, PART X, LINE 21 REFLECTS TENANT SECURITY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANTS UPON TERMINATION OF THE RESPECTIVE LEASE. PART X, LINE 2: RDI ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATING FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. RDI HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATING FINANCIAL STATEMENTS AT JUNE 30, 2022. HOWEVER, RDI'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING JURISDICTIONS. FORM 990, PART VI, SECTION A, LINE 3 RDI AND THE BOARD OF DIRECTORS HAS ENGAGED FRANKLIN COUNTY REGIONAL HOUSING AND REDEVELOPMENT AUTHORITY TO SERVE AS A MANAGEMENT COMPANY AND MANAGE THE DAY-TO-DAY MANAGEMENT AND OPERATIONAL FUNCTIONS OF RDI. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS FIRST REVIEWED BY MANAGEMENT OF FRANKLIN COUNTY REGIONAL HOUSING AND REDEVELOPMENT AUTHORITY, THE MANAGEMENT COMPANY ENGAGED BY RDI TO PERFORM DAILY MANAGEMENT AND OPERATIONAL FUNCTIONS. THEN, THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ARE REQUIRED TO SIGN OFF ANNUALLY ON RDI'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 18 RDI'S FORM 1023 IS AVAILABLE UPON REQUEST. RDI'S FORM 990 IS AVAILABLE UPON REQUEST AND ANOTHER'S WEBSITE AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 RDI'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 16B: RDI'S POLICY OVER EVALUATING ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS INVOLVES AN ASSESSMENT PERFORMED BY RDI'S BOARD OF DIRECTORS TO ENSURE THE TERMS OF ANY POTENTIAL JOINT VENTURE RELATIONSHIP IS PERMITTED UNDER APPLICABLE FEDERAL TAX LAW AND RDI'S EXEMPT STATUS IS BEING SAFEGUARDED. IN ADDITION, FORMAL OPERATING AND OTHER APPLICABLE AGREEMENTS ARE FORMALLY EXECUTED BY ALL PARTIES INVOLVED AND CLEARLY OUTLINE RDI'S ROLE IN ALL JOINT VENTURE RELATIONSHIPS. FORM 990, PART IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 297,316. MANAGEMENT AND GENERAL EXPENSES 13,650. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 310,966. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT HAS OVERSIGHT OF THE AUDIT PROCESS. THE FINANCE COMMITTEE MEETS WITH THE AUDITORS AND PRESENTS A SUMMARY OF THE AUDIT RESULTS TO THE FULL BOARD OF DIRECTORS. 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