2020-05-15T05:56:58-05:00 2019-06-30 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2018-07-01 561552375 RURAL ECONOMIC DEVELOPMENT CENTER INC RURA 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 PATRICK WOODIE PRESIDENT 9192504314 2020-05-15 1 J CALVIN MARKS P01226973 9197196400 34.233.173.235 2020-05-15 05:56:54 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5CA57564C3F4EED809CA878CC7A574EC5BA228EA 2018 2021-01-29 14:40:06Z PATRICK WOODIE 4021 CARYA DRIVE RALEIGH NC 27610 8190875 0 X WWW.NCRURALCENTER.ORG X 1987 NC CONDUCTING POLICY RESEARCH FOCUSED ON IMPROVING ECONOMIC CONDITIONS,STRENGTHENING INFRASTRUCTURE, SUPPORTING INCREASED ENTREPRENEURIALDEVELOPMENT, AND INCREASING THE NUMBER OF JOBS AVAILABLE IN RURALAREAS. 20 20 25 23 0 0 1860099 1210113 2392860 155145 198703 5646771 163975 436061 4615637 7448090 21122 75387 0 0 1952441 2146393 0 0 77187 1540544 6382106 3514107 8603886 1101530 -1155796 73848242 69830541 3202436 7116029 70645806 62714512 X THE MISSION OF THE ORGANIZATION IS TO DEVELOP, IMPLEMENT AND PROMOTE SOUND ECONOMIC STRATEGIES THAT IMPROVE THE QUALITY OF LIFE OF RURAL NORTH CAROLINIANS, WITH A SPECIAL FOCUS ON INDIVIDUALS WITH LOW TO MODERATE INCOMES AND COMMUNITIES WITH LIMITED RESOURCES. 0 0 4760841 25904 1430962 SMALL BUSINESS / ENTREPRENEURSHIP: THE RURAL CENTER DELIVERS CRITICAL RESOURCES TO SUPPORT EXISTING BUSINESSES AND ENABLE THE EMERGENCE OF SUCCESSFUL, NEW ENTREPRENEURS. THE RURAL CENTER WORKS WITH INDIVIDUALS TRYING TO START OR EXPAND A SMALL BUSINESS BY CONNECTING THEM TO CAPITAL, COACHING, AND COMMUNITY RESOURCES. SMALL BUSINESSES ARE THE BACKBONE OF OUR RURAL ECONOMIES AND THE LIFEBLOOD OF OUR STATE'S SMALL TOWNS.THE RURAL CENTER BELIEVES EQUITABLE ECONOMIC GROWTH ACROSS OUR STATE DEPENDS ON SUSTAINING RURAL SMALL BUSINESSES AND NURTURING SMALL-TOWN ENTREPRENEURS. THE CENTER OPERATES A MICRO-LOAN FUND AND SEVERAL ENTREPRENEURIAL SUPPORT PROGRAMS TO FOSTER RURAL BUSINESSES. THE CENTER ALSO OPERATES THE LOAN PARTICIPATION PROGRAM AND THE CAPITAL ACCESS PROGRAM TO SUPPORT PRIVATE SECTOR CAPITAL FORMATION IN ALL 100 NORTH CAROLINA COUNTIES. 1559407 49483 153816 LEADERSHIP & ENGAGEMENT: THE RURAL CENTER HELPS RURAL COMMUNITIES ARTICULATE CLEAR VISIONS, INVEST IN BUILDING THEIR ASSETS, AND CREATE CULTURES OF COLLABORATIVE PROBLEM SOLVING. AS A PROMOTER OF LEADERSHIP THAT IS INCLUSIVE, CONNECTED, INFORMED, AND CREATIVE, THE RURAL CENTER NURTURES THE STATE'S NEXT GENERATION OF RURAL LEADERS. THE CENTER WORKS TO EQUIP COMMUNITIES WITH THE KNOWLEDGE AND TOOLS NECESSARY TO MANAGE THE CHALLENGES OF A CHANGING ECONOMIC LANDSCAPE AND TO PROMOTE SUSTAINED ECONOMIC AND COMMUNITY DEVELOPMENT. THE CENTER'S RURAL ECONOMIC DEVELOPMENT INSTITUTE (REDI) HAS TRAINED MORE THAN 1,200 RURAL LEADERS SINCE 1989. THE COMMUNITY ENGAGEMENT PROGRAM PROVIDES CAPACITY BUILDING, TECHNICAL ASSISTANCE AND TRAINING TO RURAL COMMUNITIES. THE CENTER ALSO OFFERS CUSTOMIZED ECONOMIC AND COMMUNITY DEVELOPMENT TRAINING TO REGIONAL PARTNERS, INDUSTRY GROUPS, AND OTHER AGENCIES. 1172188 PUBLIC AFFAIRS: THE RURAL CENTER SERVES AS THE STATE'S LEADING ADVOCATE FOR ITS MANY RURAL COMMUNITIES. THE RURAL CENTER PROVIDES LOCAL, REGIONAL, AND STATE LEADERS THE INFORMATION THEY NEED TO BE INFORMED ON THE IMPORTANT RURAL ISSUES. THE CENTER IDENTIFIES SPECIFIC TOPICS FOR MORE IN-DEPTH EXPLORATION AND PARTNERS WITH EXPERTS TO LIFT UP POLICY AND RESEARCH THAT INFORMS THE DECISIONS OF TODAY AND HELPS PLAN FOR THE CHOICES OF TOMORROW. WITH A VOICE INFORMED BY DATA, RESEARCH, AND BEST PRACTICES, THE CENTER ADVOCATES ON THE LOCAL, STATE, AND FEDERAL LEVELS FOR THE COMPELLING ISSUES FACING RURAL COMMUNITIES: ISSUES LIKE SMALL BUSINESS DEVELOPMENT, BROADBAND ACCESS, HEALTHCARE, EDUCATION, ENERGY, WORKFORCE DEVELOPMENT, AND INFRASTRUCTURE. 1329 1329 7492436 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 35 0 1 25 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X MARY CLIFFORD 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 GRANT GODWIN CHAIR 1.00 X X 0 0 0 ANDY ANDERSON VICE CHAIR 1.00 X X 0 0 0 LIGE DAUGHTRIDGE SECRETARY 1.00 X X 0 0 0 CECE HIPPS TREASURER 1.00 X X 0 0 0 W TED ALEXANDER BOARD MEMBER (TO JAN '19) 1.00 X 0 0 0 HELEN RUTH ALMOND BOARD MEMBER (TO NOV '18) 1.00 X 0 0 0 LESLIE BONEY BOARD MEMBER 1.00 X 0 0 0 CHARLES BROWN BOARD MEMBER (TO JAN '19) 1.00 X 0 0 0 PATRICIA FERGUSON BOARD MEMBER 1.00 X 0 0 0 DEBBIE HAMRICK BOARD MEMBER 1.00 X 0 0 0 NELLE HOTCHKISS BOARD MEMBER 1.00 X 0 0 0 LENORA JARVIS-MACKEY BOARD MEMBER 1.00 X 0 0 0 BEN KNIGHT BOARD MEMBER 1.00 X 0 0 0 PHIL MARION BOARD MEMBER 1.00 X 0 0 0 JOHN NELMS BOARD MEMBER 1.00 X 0 0 0 REV ALAN RICE BOARD MEMBER 1.00 X 0 0 0 JUVENCIO ROCHA-PERALTA BOARD MEMBER 1.00 X 0 0 0 JIM ROSE BOARD MEMBER 1.00 X 0 0 0 ALICE SCHENALL BOARD MEMBER 1.00 X 0 0 0 JOSEPH STANLEY BOARD MEMBER (FROM AUG '18) 1.00 X 0 0 0 SARAH THOMPSON BOARD MEMBER 1.00 X 0 0 0 DENNIS TRACZ BOARD MEMBER 1.00 X 0 0 0 JENNIFER TOLLE WHITESIDE BOARD MEMBER 1.00 X 0 0 0 PATRICK WOODIE PRESIDENT 40.00 X 149138 0 25768 BARRY RYAN VICE PRESIDENT 40.00 X 109176 0 20891 MARY K CLIFFORD SENIOR DIRECTOR, FINANCE AND ADMIN. 40.00 X 90317 0 20657 TODD BRANTLEY SENIOR DIRECTOR - PUBLIC AFFAIRS 40.00 X 103642 0 20215 452273 0 87531 3 0 1 0 REVOLVE LLC 1772 HERITAGE CENTER DRIVE STE 201 WAKE FOREST NC 27587 MANAGEMENT 105833 1 235226 974887 1210113 REGISTRATION FEES 900099 153816 153816 1329 1329 155145 1787630 1430962 356668 53834 0 53834 53834 53834 4601926 742785 3859141 3859141 3859141 INDIRECT COST 900099 227317 227317 MANAGEMENT FEE INCOME 900099 160159 160159 -5249 -5249 382227 7448090 1586107 0 4651870 37265 37265 38122 38122 461220 336545 119274 5401 1323269 965026 337693 20550 116988 85612 32475 -1099 118940 87088 32966 -1114 125976 87895 36082 1999 9783 7668 1759 356 53826 42187 9680 1959 669590 573478 79932 16180 5538 5492 46 168101 41929 107709 18463 64696 11372 47517 5807 93918 12740 81178 75915 69794 4674 1447 327039 287980 33073 5986 34602 25660 8862 80 4661624 4661624 152014 70474 80628 912 17605 9181 8042 382 DUES & SUBSCRIPTIONS 27082 19899 7353 -170 PROGRAM SUPPORT 20338 15082 5209 47 435 323 111 1 8603886 7492436 1034263 77187 1741852 964835 15843833 13428271 1140596 1114841 62453 81522 26812953 30025773 43325 88547 4670224 2141028 2679377 2529196 5847747 6159507 19676106 15438049 73848242 69830541 182749 3739839 1782260 2106713 1237427 1269477 3202436 7116029 X 66397942 59136651 4247864 3577861 70645806 62714512 73848242 69830541 X -1155796 -5284050 -1491448 X 0 1 X 1 0 X 8799010 5481701 2584632 1860099 1210113 19935555 8799010 5481701 2584632 1860099 1210113 19935555 688036 19247519 382528 222836 359877 458906 410502 1834649 230329 11011 34461 119948 382227 777976 22548180 7451053 0.85360 0.86160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2014 AMOUNT: $ 230,329. 2015 AMOUNT: $ 11,011. 2016 AMOUNT: $ 34,461. 2017 AMOUNT: $ 119,948. 2018 AMOUNT: $ 382,227. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 20719 20719 8583167 8603886 580194 145049 0 0 319235 290925 325705 580194 1516059 2274089 8017 33564 48727 20719 111027 79809 72731 81426 145049 379015 568523 22789 0 22789 4004897 1594459 2410438 309320 220463 88857 356007 326106 29901 2529196 INVESTMENT IN VENTURE FUNDS 15438049 F 15438049 CAPITAL RESERVE LIABILITY 1269477 1269477 X PART X, LINE 2: MANAGEMENT HAS EVALUATED THE CENTER'S TAX POSITIONS AND CONCLUDED THAT THE CENTER HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF GAAP. 1 AHOSKIE UMC 212 CHURCH ST W AHOSKIE NC 27910 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT ANNIE PENN HOSPITAL 618 MAIN ST REIDSVILLE NC 27320 581897269 501(C)(3) 5000 RURAL ENGAGEMENT TO CLOSE HEALTH CARE COVERAGE GAP HARMONY METHODIST UMC 136 W MEMORIAL HWY HARMONY NC 28634 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT MAPLE SPRINGS UMC 2569 REYNOLDS RD WINSTONSALEM NC 27106 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT MURFREESBORO UMC 301 E HIGH ST MURFREESBORO NC 27855 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT SILKHOPE UMC 3631 MT VERNON HICKORY MOUNTAIN RD SILER CITY NC 27344 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT SMITH GROVE UMC 3492 US-158 MOCKSVILLE NC 27028 311813333 501(C)(3) 5000 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT CENTER UNITED UMC 186 CENTER CHURCH RD LEXINGTON NC 27295 311813333 501(C)(3) 2265 BUILD CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT REDI SCHOLARSHIPS 18 23887 RURAL FOOD BUSINESS ASSISTANCE PROGRAM 122 13875 RURAL DAY SCHOLARSHIPS 2 360 PART I, LINE 2: THE RURAL CENTER MONITORS GRANTS PURSUANT TO A GRANTS MANAGEMENT AND MONITORING PLAN ADOPTED BY THE CENTER'S BOARD OF DIRECTORS. THE PLAN RELATES TO THE ENTIRE LIFE CYCLE OF A GRANT, FROM INITIAL PROGRAM DESIGN THROUGH FISCAL AND PERFORMANCE MONITORING REQUIREMENTS AND CLOSE OUT. X X X X 0 0 0 0 0 0 0 0 0 PATRICK WOODIE PRESIDENT 149138 0 0 0 0 0 17289 0 8479 0 174906 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE CENTER WILL MAKE THE FORM 990 AVAILABLE FOR REVIEW BY THE ENTIRE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICTS OF INTEREST POLICY IS REVIEWED AT EVERY BOARD MEETING AND MEMBERS ARE ASKED IF THERE ARE ANY CONFLICTS. SHOULD ANY CONFLICTS EXIST, THAT PERSON WILL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS OR VOTE AND SUCH INFORMATION WILL BE NOTED IN THE ORGANIZATION'S BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS BASED ON COMPENSATION DATA DERIVED FROM THE FORM 990 OF OTHER COMPARABLE EXEMPT ORGANIZATIONS. THE BOARD OF DIRECTORS HOLDS A MEETING TO DISCUSS AND MAKE RECOMMENDATIONS OF THE PRESIDENT'S COMPENSATION BASED ON THIS DATA AS WELL AS A PERFORMANCE EVALUATION. ALL INTERESTED PARTIES ARE RECUSED FROM BOTH VOTING AND PARTICIPATION IN THE COMPENSATION DELIBERATIONS OF THE BOARD OF DIRECTORS. THE PRESIDENT'S COMPENSATION WAS LAST REVIEWED IN AUGUST 2018. FOR ALL OTHER EMPLOYEES, THE PRESIDENT OF THE ORGANIZATION HANDLES THE SALARY REVIEW PROCESS AND USES MARKET COMPARABLE FROM OTHER FORM 990'S OF SIMILAR ORGANIZATIONS TO DETERMINE APPROPRIATE COMPENSATION. A MANAGEMENT AND PERSONNEL SERVICE WAS HIRED TO PERFORM A CLASSIFICATION AND PAY STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICTS OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -1,491,448. 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