2018-04-26T13:17:14-05:00 2017-06-30 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2016-07-01 561552375 RURAL ECONOMIC DEVELOPMENT CENTER INC RURA 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 PATRICK WOODIE PRESIDENT 9192504314 2018-04-26 1 JOHN HUSKINS P01081531 9197196400 2018-04-26 66.77.128.118 2018-04-26 14:16:37 ED P E92EC12878E6ED9F107DFBFC32DE29E76F0C1F5F 8FD19FD530F902799931F13673EB09267E50D561 2016 2021-01-29 14:40:06Z PATRICK WOODIE 4021 CARYA DRIVE RALEIGH NC 27610 4831925 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. 25 25 27 29 -170584 -171334 5481701 2584632 1238683 1303753 51635 307223 60878 75554 6832897 4271162 201550 16792 0 0 1667621 1537791 0 0 81549 1515519 1263911 3384690 2818494 3448207 1452668 62835201 67285496 2847242 2304729 59987959 64980767 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 923521 8417 1221503 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. 569701 39800 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. 223083 8375 42450 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. 345674 RURAL DEVELOPMENT, PROPERTIES 345674 2061979 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 18 0 1 27 1 0 0 0 0 0 0 0 0 0 0 X 25 25 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 REX BAKER 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 BRIAN CRUTCHFIELD BOARD MEMBER 1.00 X 0 0 0 PATRICIA FERGUSON BOARD MEMBER 1.00 X 0 0 0 BILL GIBSON 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 JENNIFER TOLLE WHITESIDE BOARD MEMBER 1.00 X 0 0 0 VANCE DALTON BOARD MEMBER FROM 9/2016 1.00 X 0 0 0 DEBBIE HAMRICK BOARD MEMBER FROM 9/2016 1.00 X 0 0 0 SARAH THOMPSON BOARD MEMBER FROM 9/2016 1.00 X 0 0 0 DENNIS TRACZ BOARD MEMBER FROM 9/2016 1.00 X 0 0 0 CLARK TWIDDY BOARD MEMBER FROM 9/2016 1.00 X 0 0 0 CHRIS PARRISH BOARD MEMBER THRU 9/2016 1.00 X 0 0 0 CLEVELAND SIMPSON BOARD MEMBER THRU 9/2016 1.00 X 0 0 0 LINDA WEINER BOARD MEMBER THRU 9/2016 1.00 X 0 0 0 LARRY WOOTEN BOARD MEMBER THRU 9/2016 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 140267 0 24062 MARY K CLIFFORD DIRECTOR OF FINANCE & ADMIN 40.00 X 73784 0 17356 214051 0 41418 1 0 1 0 0 2020089 564543 2584632 INTEREST INCOME ON PROGRAM LOANS 900099 1218423 1218423 REGISTRATION FEES 900099 82250 82250 LOAN FEES 900001 3080 3080 1303753 148200 -170584 318784 41093 0 41093 41093 41093 719786 560226 537 159560 -537 159023 159023 REIMBURSEMENTS 900099 1159 1159 HONORARIUMS 900099 700 700 32602 32602 34461 4271162 1303753 -170584 553361 X 16792 16792 273175 204007 66681 2487 1001778 740447 238713 22618 83529 68379 23888 -8738 86680 63982 22416 282 92629 66665 23835 2129 12358 5433 6925 48600 48600 29991 22754 4579 2658 481943 402554 25244 54145 4189 2964 1225 134168 46435 87265 468 54638 19191 35447 81985 81985 38772 30973 7529 270 122402 100211 19999 2192 7364 7364 142738 142738 17012 17012 PROGRAM SUPPORT 45582 45582 DUES & SUBSCRIPTIONS 26461 16366 9197 898 BAD DEBT 14218 9069 5149 MISCELLANEOUS 1490 1490 50073 -50988 915 2818494 2061979 674966 81549 583384 598952 18995655 17562727 280892 144036 51052 86107 24014306 25210293 43659 47625 4729324 1894631 2759914 2834693 4887039 5425570 11219300 15375493 62835201 67285496 144848 138416 1357687 0 160000 916566 1184707 1249747 2847242 2304729 X 50762386 62834243 9225573 2146524 59987959 64980767 62835201 67285496 X 1452668 3312127 228013 X 0 1 X 1 0 X 28049178 2124944 8799010 5481701 2584632 47039465 28049178 2124944 8799010 5481701 2584632 47039465 47039465 822901 359766 382528 222836 359877 2147908 90187 391645 230329 11011 34461 757633 49945006 32399693 0.94180 0.91030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2012 AMOUNT: $ 90,187. 2013 AMOUNT: $ 391,645. 2014 AMOUNT: $ 230,329. 2015 AMOUNT: $ 11,011. 2016 AMOUNT: $ 34,461. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22789 7200 29989 2788505 2818494 290925 72731 0 0 319235 290925 610160 915240 7200 29989 37189 79809 72731 152540 228810 22789 22789 4004897 1394158 2610739 352352 175753 176599 372075 324720 47355 2834693 INVESTMENT IN VENTURE FUNDS 15375493 F 15375493 CAPITAL RESERVE LIABILITY 1249747 1249747 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 ECONOMIC DEVELOPMENT INSTITUTE SCHOLARSHIP 16 11375 RBDG SCHOLARSHIP - ASAP BUSINESS OF FARMING CONFERENCE 10 990 RBDG SCHOLARSHIP - APPALACHIAN FARM SCHOOL 12 900 RBDG SCHOLARSHIP - ORGANIC GROWERS SCHOOL 6 715 SCHOLARSHIP - THE CROWDFUNDING FACTORY 1 497 RBDG SCHOLARSHIP - FOOD SAFETY CLASS 4 400 RBDG SCHOLARSHIP - HACCP CLASS 4 400 RBDG SCHOLARSHIP - ACIDIFIED FOODS MANUFACTRING SCHOOL 2 300 RBDG SCHOLARSHIP - FARM COURSES 1 298 RBDG SCHOLARSHIP - FSPCA PREVENTIVE CONTROLS 1 250 RBDG SCHOLARSHIP - PRODUCE SAFETY ALLIANCE COURSE 1 250 RBDG SCHOLARSHIP - GOOD MANUFACTURING PRACTICES IN FOOD SAFETY CLASS 1 175 RBDG SCHOLARSHIP - QUICKBOOKS 1 167 RBDG SCHOLARSHIP - START YOUR OWN BUSINESS 1 75 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. THE CENTER ALSO USES MICROEDGE GIFTS, WHICH IS A SPECIALIZED GRANTS MANAGEMENT DATABASE SOFTWARE PROGRAM THAT ALLOWS CENTER STAFF TO TRACK ALL ACTIVITIES ASSOCIATED WITH EACH GRANT ACROSS THE LIFE CYCLE OF THE GRANT AWARD. X X X X X 0 0 0 0 0 0 0 0 0 PATRICK WOODIE PRESIDENT 140267 0 0 0 0 0 16269 0 7793 0 164329 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 EXECUTIVE COMMITTEE BASED ON COMPENSATION DATA DERIVED FROM THE FORM 990 OF OTHER COMPARABLE EXEMPT ORGANIZATIONS. THE EXECUTIVE COMMITTEE 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 EXECUTIVE COMMITTEE. THE PRESIDENT'S COMPENSATION WAS LAST REVIEWED IN JULY 2016. 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 TECHNICAL TRAINING: PROGRAM SERVICE EXPENSES 155,336. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 155,336. RURAL JOBS PROJECT CONSULTING: PROGRAM SERVICE EXPENSES 129,659. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 129,659. FINANCIAL SERVICES: PROGRAM SERVICE EXPENSES 12,504. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,504. CAPITAL CAMPAIGN CONSULTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 3,223. TOTAL EXPENSES 3,223. GRAPHIC DESIGN: PROGRAM SERVICE EXPENSES 2,313. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,313. INTERPRETER: PROGRAM SERVICE EXPENSES 300. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 300. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 102,442. MANAGEMENT AND GENERAL EXPENSES 25,244. FUNDRAISING EXPENSES 50,922. TOTAL EXPENSES 178,608. FORM 990, PART XI, LINE 9: DISTRIBUTION FROM VENTURE FUNDS 228,013. RURAL CENTER VENTURES LLC 4021 CARYA DR RALEIGH NC 27610 383880980 INVESTMENTS NC 3255044 15088991 RURAL ECONOMIC DEVELOPMENT CENTERRURAL CENTER VENTURES LLC IMAF COMMON LLC 1959 N PEACE HAVEN RD SUITE 111 WINSTONSALEM NC 27106 460959357 INVESTMENTS NC 0 286502 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 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0