2019-04-09T08:55:31-05:00 2018-06-30 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2017-07-01 561552375 RURAL ECONOMIC DEVELOPMENT CENTER INC RURA 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 PATRICK WOODIE PRESIDENT 9192504314 2019-04-02 1 JOHN HUSKINS P01081531 9197196400 34.233.173.235 2019-04-09 08:55:28 ED P 864A7BF621746F4ED5D3A0306E0732A43905445D 905D37EEF873C6152FD48B98D30FD2D04A95BCC4 2017 2019-02-21 02:37:17Z PATRICK WOODIE 4021 CARYA DRIVE RALEIGH NC 27610 4629967 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. 22 22 24 27 -220616 -221366 2584632 1860099 1303753 2392860 307223 198703 75554 163975 4271162 4615637 16792 21122 0 0 1537791 1952441 0 0 147168 1263911 1540544 2818494 3514107 1452668 1101530 67285496 73848242 2304729 3202436 64980767 70645806 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 1141730 19422 2282525 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. 783087 0 61530 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 BROADBAND ACCESS, HEALTHCARE, EDUCATION, ENERGY, WORKFORCE DEVELOPMENT, AND INFRASTRUCTURE. 388297 1700 45605 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 1,100 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. 361785 3200 RURAL DEVELOPMENT AND PROPERTIES 361785 3200 2674899 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 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 29 0 1 24 1 0 0 0 0 0 0 0 0 0 0 X 22 22 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 W TED ALEXANDER BOARD MEMBER 1.00 X 0 0 0 LESLIE BONEY BOARD MEMBER 1.00 X 0 0 0 CHARLES BROWN BOARD MEMBER 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 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 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 HELEN RUTH ALMOND BOARD MEMBER FROM 2/2018 1.00 X 0 0 0 PHIL MARION BOARD MEMBER FROM 11/2017 1.00 X 0 0 0 REX BAKER BOARD MEMBER THRU 11/2017 1.00 X 0 0 0 BRIAN CRUTCHFIELD BOARD MEMBER THRU 11/2017 1.00 X 0 0 0 VANCE DALTON BOARD MEMBER THRU 11/2017 1.00 X 0 0 0 BILL GIBSON BOARD MEMBER THRU 11/2017 1.00 X 0 0 0 CLARK TWIDDY BOARD MEMBER THRU 11/2017 1.00 X 0 0 0 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 PATRICK WOODIE PRESIDENT 40.00 X 140294 0 24367 BARRY RYAN VICE PRESIDENT 40.00 X 91787 0 18445 MARY K CLIFFORD DIRECTOR OF FINANCE & ADMIN 40.00 X 74691 0 18329 306772 0 61141 1 0 1 0 0 303854 1556245 1860099 INTEREST INCOME ON PROGRAM LOANS 900099 1221696 1221696 SMALL BUSINESS RECOVERY 900099 1012500 1012500 REGISTRATION FEES 900099 107135 107135 LOAN FEES 900001 48329 48329 PUBLICATION SALES 900099 3200 3200 2392860 194263 -220616 414879 44027 0 44027 44027 44027 18770 13922 408 4848 -408 4440 4440 REIMBURSEMENTS 900099 14450 14450 105498 105498 119948 4615637 2392860 -220616 583294 X 21122 21122 400096 298761 84185 17150 1218667 913374 253633 51660 116658 85002 26084 5572 104198 76819 23040 4339 112822 83041 24782 4999 30964 24615 6349 50728 50728 48000 41810 2065 4125 479096 417314 20610 41172 4287 4157 130 174077 73552 100525 62727 15817 38635 8275 75872 75872 76633 69105 7090 438 203282 179719 18285 5278 11021 11021 164092 164092 17140 17140 BAD DEBT 84324 84324 PROGRAM SUPPORT 32119 32119 DUES & SUBSCRIPTIONS 24543 15254 7797 1492 MISCELLANEOUS 1639 1000 639 62881 -65549 2668 3514107 2674899 692040 147168 598952 1741852 17562727 11339321 144036 1140596 86107 62453 25210293 26812953 47625 43325 4695193 2015816 2834693 2679377 5425570 10352259 15375493 19676106 67285496 73848242 138416 182749 916566 1782260 1249747 1237427 2304729 3202436 X 62834243 66397942 2146524 4247864 64980767 70645806 67285496 73848242 1101530 4563509 0 X 0 1 X 1 0 X 2124944 8799010 5481701 2584632 1860099 20850386 2124944 8799010 5481701 2584632 1860099 20850386 670566 20179820 359766 382528 222836 359877 458906 1783913 391645 230329 11011 34461 119948 787394 23421693 19634993 0.86160 0.94180 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2013 AMOUNT: $ 391,645. 2014 AMOUNT: $ 230,329. 2015 AMOUNT: $ 11,011. 2016 AMOUNT: $ 34,461. 2017 AMOUNT: $ 119,948. 48000 48000 3466107 3514107 325705 81426 0 0 319235 290925 325705 935865 1403798 7200 29989 48000 85189 79809 72731 81426 233966 350949 22789 22789 4004897 1494309 2510588 334289 200799 133490 356007 320708 35299 2679377 INVESTMENT IN VENTURE FUNDS 19676106 F 19676106 CAPITAL RESERVE LIABILITY 1237427 1237427 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 RURAL ASSEMBLY REGISTRATION FEE 55 12375 RURAL FOOD BUSINESS ASSISTANCE PROGRAM 69 8746 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 140294 0 0 0 0 0 16272 0 8095 0 164661 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 IX, LINE 11G PROJECT CONSULTING: PROGRAM SERVICE EXPENSES 267,096. MANAGEMENT AND GENERAL EXPENSES 13,191. FUNDRAISING EXPENSES 26,352. TOTAL EXPENSES 306,639. TECHNICAL TRAINING: PROGRAM SERVICE EXPENSES 110,291. MANAGEMENT AND GENERAL EXPENSES 5,447. FUNDRAISING EXPENSES 10,881. TOTAL EXPENSES 126,619. PHOTOGRAPHY, VIDEOGRAPHY, AND DESIGN: PROGRAM SERVICE EXPENSES 39,927. MANAGEMENT AND GENERAL EXPENSES 1,972. FUNDRAISING EXPENSES 3,939. TOTAL EXPENSES 45,838. RURAL CENTER VENTURES LLC 4021 CARYA DR RALEIGH NC 27610 383880980 INVESTMENTS NC 4266981 19389529 RURAL ECONOMIC DEVELOPMENT CENTER IMAF COMMON LLC 1959 N PEACE HAVEN RD SUITE 111 WINSTONSALEM NC 27106 460959357 INVESTMENTS NC -25113 286577 RURAL CENTER VENTURES LLC RURAL ECONOMIC DEVELOPMENT FOUNDATION INC 4021 CARYA DR RALEIGH NC 27610 561683433 PERMANENT ENDOWMENT FOR SUPPORT OF RURAL ECONOMIC DEVELOPMENT CENTER NC 501(C)(3) LINE 7 RURAL ECONOMIC DEVELOPMENT CENTER 0 THREAD CAPITAL INC 4021 CARYA DR RALEIGH NC 27610 831284532 ECONOMIC DEVELOPMENT NC 501(C)(3) LINE 7 RURAL ECONOMIC DEVELOPMENT CENTER 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0