2017-05-12T15:10:50-05:00 2016-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2015-07-01 561552375 RURAL ECONOMIC DEVELOPMENT CENTER INC RURA 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 PATRICK WOODIE PRESIDENT 9192504314 2017-05-12 1 JANICE A RATICA P00358837 7043771678 2015 2021-01-29 14:40:06Z PATRICK WOODIE 4021 CARYA DRIVE RALEIGH NC 27610 8408150 0 X WWW.NCRURALCENTER.ORG X 1987 NC ORGANIZED TO ADDRESS ISSUES AND PROBLEMS AFFECTING RURAL AREAS BY ADMINISTERING VARIOUS PROGRAMS AND CONDUCTING POLICY RESEARCH FOCUSED ON IMPROVING ECONOMIC CONDITIONS, STRENGTHENING INFRASTRUCTURE, SUPPORTING INCREASED ENTREPRENEURIAL DEVELOPMENT, AND INCREASING THE NUMBER OF JOBS AVAILABLE IN RURAL AREAS. 24 24 23 32 0 0 8799010 5481701 929859 1238683 361282 51635 251575 60878 10341726 6832897 59366 201550 0 0 1534963 1667621 0 0 130912 1673815 1515519 3268144 3384690 7073582 3448207 63100351 62835201 7561107 2847242 55539244 59987959 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 1411870 53719 1173115 THE RURAL CENTER ENABLES RURAL PEOPLE AND PLACES TO TAKE ADVANTAGE OF STRATEGIC OPPORTUNITIES THROUGH THE DISSEMINATION OF INFORMATION AND FACILITATION OF PARTNERSHIPS. WE DELIVER CRITICAL RESOURCES TO SUPPORT EXISTING BUSINESSES AND ENABLE THE EMERGENCE OF SUCCESSFUL NEW ENTREPRENEURS. THE CENTER OPERATES A MICRO-LOAN FUND AND SEVERAL ENTREPRENEURIAL SUPPORT PROGRAMS TO FOSTER RURAL BUSINESSES. THE CENTER ALSO OPERATES THE $46.1 MILLION SMALL BUSINESS CREDIT INITIATIVE (SBCI) TO SUPPORT PRIVATE SECTOR CAPITAL FORMATION IN ALL 100 NORTH CAROLINA COUNTIES. THE SBCI CONSISTENTLY RANKS AS ONE OF THE TOP PROGRAMS IN THE NATION. 711282 0 40595 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. 424438 147831 24973 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 AND STRATEGIC PLANNING ASSISTANCE TO RURAL COMMUNITIES. THE CENTER ALSO OFFERS CUSTOMIZED ECONOMIC AND COMMUNITY DEVELOPMENT TRAINING TO REGIONAL PARTNERS, INDUSTRY GROUPS, AND OTHER AGENCIES. 2547590 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 21 0 23 1 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X MARY K CLIFFORD 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 REX L BAKER BOARD MEMBER 1.00 X 0 0 0 BRIAN CRUTCHFIELD BOARD MEMBER 1.00 X 0 0 0 JOSEPH STANLEY BOARD MEMBER 1.00 X 0 0 0 LARRY WOOTEN BOARD MEMBER 1.00 X 0 0 0 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 BILL GIBSON BOARD MEMBER 1.00 X 0 0 0 CECE HIPPS 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 CHRIS PARRISH 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 CLEVELAND SIMPSON BOARD MEMBER 1.00 X 0 0 0 LINDA WEINER BOARD MEMBER 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 JENNIFER TOLLE WHITESIDE TREASURER 1.00 X X 0 0 0 PATRICK WOODIE PRESIDENT 40.00 X 134800 0 24055 MARY K CLIFFORD DIRECTOR OF FINANCE AND ADMIN 40.00 X 73351 0 17709 208151 0 41764 1 0 1 0 0 5428495 53206 5481701 INTEREST INCOME ON PROGRAM LOANS 900099 1170805 1170805 REGISTRATION FEES 900099 65245 65245 OTHER 900099 1698 1698 LOAN FEES 900099 935 935 1238683 172969 172969 49867 0 49867 49867 49867 1453919 1575253 -121334 -121334 -121334 RETIREMENT FORFEITURE FUNDS 900099 11011 11011 11011 6832897 1238683 0 112513 X 201550 201550 249915 127084 122831 1093482 816527 187806 89149 106628 73961 23361 9306 111853 82672 28231 950 105743 71676 26559 7508 16106 6230 9876 31000 31000 7200 7200 415219 289789 124842 588 3285 206 90 2989 119950 39184 80247 519 46965 7564 31442 7959 83963 83963 71762 58323 12444 995 92023 85318 6313 392 129339 129339 16292 16292 BAD DEBTS 432027 432027 PROGRAM SUPPORT 42580 42580 DUES AND SUBSCRIPTIONS 7808 568 6940 300 OVERHEAD ALLOCATION 0 75792 -86049 10257 3384690 2547590 706188 130912 24587968 19579039 1979911 2490 406 185679 280487 24312641 24014306 39437 43659 4571581 1811667 2878466 2759914 4887039 9041872 11219300 71887 51051 63100351 62835201 136007 144848 1357687 160000 7425100 1184707 7561107 2847242 X 47037837 50762386 8501407 9225573 55539244 59987959 63100351 62835201 X 3448207 324559 675949 X 0 1 X 1 0 X 33697490 28049178 2124944 8799010 5481701 78152323 33697490 28049178 2124944 8799010 5481701 78152323 78152323 1199087 822901 359766 382528 222836 2987118 3986502 90187 391646 230329 11011 4709675 85849116 31095940 0.91030 0.90900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 7200 7200 3377490 3384690 319235 79809 0 0 1000000 1000000 313407 319235 2632642 3948963 0 0 24000 7200 31200 250000 250000 78532 79809 658341 987512 4004897 1294007 2710890 222337 210861 11476 344347 306799 37548 2759914 INVESTMENT IN VENTURE FUNDS 11219300 F 11219300 NC-CAP RESERVE LIABILITY 1184707 1184707 X 8087782 324559 930326 1254885 6832897 0 6832897 3639067 254377 254377 3384690 0 3384690 PART X, LINE 2: THE CENTER IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES PURSUANT TO THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE STATE TAX STATUTES. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: INDIRECT INCOME OFFSET BY EXPENSES 254,377. DISTRIBUTIONS FROM VENTURE FUNDS 675,949. PART XII, LINE 2D - OTHER ADJUSTMENTS: INDIRECT INCOME OFFSET BY EXPENSES 254,377. 1 NORTH CAROLINA STATE UNIVERSITY 1000 HARRIS HALL RALEIGH NC 27695 566000758 115 44061 RURAL JOBS ACCELERATOR CARTERET COUNTY CHAMBER OF COMMERCE 801 ARENDELL STREET MOREHEAD CITY NC 28557 560488844 501(C)(6) 8700 NEW GENERATIONS LEADERS HAYWOOD COUNTY 24 WALNUT STREET WAYNESVILLE NC 28786 566001524 115 20000 NEW GENERATIONS LEADERS SURRY COUNTY PO BOX 7128 MOUNT AIRY NC 27030 566000341 115 20000 NEW GENERATIONS LEADERS TOWN OF WARRENTON PO BOX 281 WARRENTON NC 27589 566001362 115 5355 DISASTER RESILIENCY TRAINING GREENE COUNTY 229 KINGOLD BLVD SNOW HILL NC 28580 566000304 115 5748 DISASTER RESILIENCY TRAINING TOWN OF EDENTON PO BOX 300 EDENTON NC 27932 566001216 115 5882 DISASTER RESILIENCY TRAINING TOWN OF MAYSVILLE PO BOX 265 MAYSVILLE NC 28555 560946816 115 14457 NEW GENERATIONS LEADERS EDGECOMBE COUNTY GOVERNMENT PO BOX 129 TARBORO NC 27886 566000298 115 18776 NEW GENERATIONS LEADERS RIVER CITY CDC 501 E MAIN STREET ELIZABETH CITY NC 27909 471709321 501(C)(3) 18174 NEW GENERATIONS LEADERS HARNETT COUNTY 126 ALEXANDER DRIVE LILLINGTON NC 27546 562079125 115 14440 NEW GENERATIONS LEADERS 10 1 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 134800 0 0 0 0 0 15640 0 8415 0 158855 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 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 A MEMBER OF THE EXECUTIVE COMMITTEE REVIEWED COMPENSATION DATA DERIVED FROM THE FORM 990'S OF OTHER COMPARABLE EXEMPT ORGANIZATIONS AND REVIEWED THE FINDINGS WITH THE OTHER MEMBERS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE HELD A MEETING TO DISCUSS AND MAKE RECOMMENDATIONS BASED ON A REVIEW OF THE COMPENSATION DATA AS WELL AS A PERFORMANCE EVALUATION OF THE EMPLOYEE. ALL INTERESTED PARTIES WERE RECUSED FROM BOTH VOTING AND PARTICIPATING IN THE DELIBERATIONS OF THE EXECUTIVE COMMITTEE. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE PRESIDENT OF THE ORGANIZATION HANDLES THE SALARY REVIEW PROCESS AND USES MARKET COMPARABLES FROM OTHER FORM 990'S OF SIMILAR ORGANIZATIONS TO DETERMINE APPROPRIATE COMPENSATION. 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 CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 267,845. MANAGEMENT AND GENERAL EXPENSES 113,731. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 381,576. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 12,864. MANAGEMENT AND GENERAL EXPENSES 7,690. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,554. OTHER SERVICES: PROGRAM SERVICE EXPENSES 9,080. MANAGEMENT AND GENERAL EXPENSES 3,421. FUNDRAISING EXPENSES 588. TOTAL EXPENSES 13,089. FORM 990, PART XI, LINE 9: DISTRIBUTION FROM VENTURE FUNDS 675,949. RURAL CENTER VENTURES LLC 4021 CARYA DRIVE RALEIGH NC 27610 383880980 INVESTMENTS NC 522547 10932754 RURAL ECONOMIC DEVELOPMENT CENTER IMAF COMMON LLC 1959 N PEACE HAVEN RD SUITE 111 WINSTONSALEM NC 27106 460959357 INVESTMENTS NC 0 286546 RURAL CENTER VENTURES LLC RURAL ECONOMIC DEVELOPMENT FOUNDATION INC 4021 CARYA DRIVE 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 0 0 0 0 0 0