2016-05-13T07:25:15-05:00 2015-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-07-01 561552375 RURAL ECONOMIC DEVELOPMENT CENTER INC RURA 9192504314 4021 CARYA DRIVE RALEIGH NC 27610 PATRICK WOODIE PRESIDENT 9192504314 2016-05-12 1 JANICE A RATICA P00358837 7043771678 2014 2016-08-17 19:52:53Z PATRICK WOODIE 4021 CARYA DRIVE RALEIGH NC 27610 10341726 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. 26 26 20 38 0 0 2124944 8799010 13770047 929859 326595 361282 420697 251575 16642283 10341726 17010158 59366 0 0 1965340 1534963 0 0 19732 1083536 1673815 20059034 3268144 -3416751 7073582 63561215 63100351 17222307 7561107 46338908 55539244 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 440197 24035 THE N.C. RURAL CENTER IS THE VOICE FOR RURAL COMMUNITIES, THE CONNECTOR TO CRITICAL RESOURCES, AND THE CONVENER OF LEADERS AROUND KEY POLICY ISSUES. THE CENTER FOCUSES ITS ACTIVITIES IN THREE PROGRAM AREAS. 1) RESEARCH & POLICY: THE CENTER PROVIDES LOCAL, REGIONAL AND STATE LEADERS WITH ACCURATE INFORMATION AND DATA ON IMPORTANT RURAL ISSUES. THE CENTER IDENTIFIES SPECIFIC TOPICS FOR IN-DEPTH EXPLORATION AND PARTNERS WITH EXPERTS ON RESEARCH INITIATIVES. INFORMED BY ITS RESEARCH AND OUTREACH EFFORTS, THE CENTER ADVOCATES ON THE LOCAL, STATE AND FEDERAL LEVEL FOR SOLUTIONS TO THE COMPELLING ISSUES WE FACE, INCLUDING: INFRASTRUCTURE, ENTREPRENEURSHIP, HEALTHCARE, LEADERSHIP AND WORKFORCE DEVELOPMENT. 1342673 16338 893544 ENTREPRENEURSHIP & LENDING: THE CENTER OPERATES A MICROLOAN FUND AND SEVERAL ENTREPRENEURIAL SUPPORT PROGRAMS TO FOSTER RURAL BUSINESSES. THE CENTER ALSO OPERATES THE $46.1 MILLION SMALL BUSINESS CREDIT INITIATIVE TO SUPPORT PRIVATE SECTOR CAPITAL FORMATION IN ALL 100 N.C. COUNTIES. SINCE 2010, THE CENTER'S LENDING PROGRAMS HAVE LOANED $37 MILLION, LEVERAGING OVER $400 MILLION IN PRIVATE CAPITAL AND CREATING 9,700 JOBS. THANKS TO THESE ACCOMPLISHMENTS, THE CENTER'S STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) RANKS AMONG THE TOP PROGRAMS IN THE NATION. 352759 43028 12280 LEADERSHIP & COMMUNITY ENGAGEMENT: THE CENTER WORKS TO EQUIP RURAL COMMUNITIES AND LEADERS WITH THE KNOWLEDGE AND TOOLS NECESSARY TO MANAGE THE CHALLENGES OF ECONOMIC TRANSITIONS AND TO PROMOTE SUSTAINED ECONOMIC AND COMMUNITY DEVELOPMENT. THE RURAL ECONOMIC DEVELOPMENT INSTITUTE (REDI) HAS TRAINED 1,072 RURAL LEADERS, WITH 34 GRADUATING FROM THE 2015 CLASS. THE COMMUNITY ENGAGEMENT PROGRAM PROVIDED CAPACITY BUILDING AND STRATEGIC PLANNING ASSISTANCE TO 19 COMMUNITIES. THE CENTER ALSO OFFERS CUSTOMIZED ECONOMIC AND COMMUNITY DEVELOPMENT TRAINING TO REGIONAL PARTNERS, INDUSTRY GROUPS AND OTHER AGENCIES. 2135629 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 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 0 1 1 0 0 0 1 25 0 20 1 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 1 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 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 CECE HIPPS BOARD MEMBER 1.00 X 0 0 0 LENNA HOBSON 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 WAYNE MCDEVITT BOARD MEMBER 1.00 X 0 0 0 JOHN NELMS BOARD MEMBER 1.00 X 0 0 0 JOSEPH STANLEY BOARD MEMBER 1.00 X 0 0 0 REX L BAKER 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 CHRIS PARRISH BOARD MEMBER 1.00 X 0 0 0 REV ALAN RICE BOARD MEMBER 1.00 X 0 0 0 JIM ROSE BOARD MEMBER 1.00 X 0 0 0 MIKKI SAGER 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 JENNIFER TOLLE WHITESIDE VICE CHAIR 1.00 X X 0 0 0 LIGE DAUGHTRIDGE SECRETARY 1.00 X X 0 0 0 CURTIS WYNN TREASURER 1.00 X X 0 0 0 PATRICK WOODIE PRESIDENT 40.00 X 124349 0 21407 MARY K CLIFFORD DIRECTOR OF FINANCE AND ADMIN 40.00 X 70123 0 17356 194472 0 38763 1 0 0 0 0 8778187 20823 8799010 INTEREST INCOME ON PROGRAM LOANS 541900 893544 893544 FORUMS & INSTITUTES 541900 36315 36315 929859 361282 361282 21246 0 21246 21246 21246 OTHER INCOME 900099 230329 230329 230329 10341726 929859 0 612857 X 54166 54166 5200 5200 233236 177300 55936 1008326 652564 341794 13968 109172 66960 40606 1606 89140 80420 8563 157 95089 51368 42463 1258 82353 4323 78030 24000 24000 347287 151714 195573 410 150 260 76208 19885 54318 2005 48925 8775 40150 126255 170 126085 61594 39425 22169 75943 21526 53939 478 132405 132405 16376 16376 BAD DEBTS 668909 668909 REPAIRS AND MAINTENANCE 8585 8585 DUES AND SUBSCRIPTIONS 4416 220 4196 MISCELLANEOUS 149 149 3268144 2135629 1112783 19732 32441899 24587968 57579 1979911 2490 156635 185679 21994075 24312641 29784 39437 4593606 1715140 3012694 2878466 5868549 9041872 0 71887 63561215 63100351 70267 136007 17152040 7425100 17222307 7561107 X 39790135 47037837 6548773 8501407 46338908 55539244 63561215 63100351 X 7073582 842529 1284225 X 0 1 X 1 0 X 34448276 33697490 28049178 2124944 8799010 107118898 34448276 33697490 28049178 2124944 8799010 107118898 107118898 2098364 1199087 822901 359766 382528 4862646 1160487 3986502 90187 391646 230329 5859151 117840695 29857257 0.90900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 24000 24000 0 PART II-B, LINE 1: THE ORGANIZATION ENGAGED AN OUTSIDE CONSULTING FIRM TO ENGAGE IN LOBBYING ACTIVITIES FOR PURPOSES RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE. 4004897 1193856 2811041 213328 207017 6311 375381 314267 61114 2878466 INVESTMENT IN VENTURE FUNDS 9041872 F 9041872 DEFERRED CONTRACT REVENUE 6309243 NC CAP RESERVE LIABILITY 1115857 7425100 X 11793485 842529 609230 1451759 10341726 0 10341726 3511002 242858 242858 3268144 0 3268144 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 242,858. DISTRIBUTION FROM VENTURE FUNDS 366,372. PART XII, LINE 2D - OTHER ADJUSTMENTS: INDIRECT EXPENSES OFFSET BY INCOME 242,858. 1 NORTH CAROLINA STATE UNIVERSITY 1000 HARRIS HALL RALEIGH NC 27695 566000758 115 13406 RURAL JOBS ACCELERATOR PROJECT CARTERET COUNTY CHAMBER OF COMMERCE 801 ARENDELL STREET MOREHEAD CITY NC 28557 560488844 501(C)(6) 11300 NEW GENERATION LEADERS PROJECT CHEROKEE COUNTY HEALTH DEPARTMENT 228 HILTON STREET MURPHY NC 28906 566000285 115 19996 RURAL HEALTHCARE INITIATIVE 2 1 LEADERSHIP TUITION 1 5200 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. FORM 990, PART VI, SECTION A, LINE 4 DURING THE FISCAL YEAR, THE ORGANIZATION MADE THE FOLLOWING CHANGES TO ITS BYLAWS: 1) REDUCED THE SIZE OF ITS GOVERNING BODY TO NOT LESS THAN 12 AND NOT MORE THAN 30 MEMBERS; 2) ELIMINATE APPOINTED MEMBERS BY THE GENERAL ASSEMBLY; AND 3) REMOVED THE VOTING RIGHTS OF THE PRESIDENT OF THE ORGANIZATION. 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 990S 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 990S 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 OTHER CONTRACTED COSTS: PROGRAM SERVICE EXPENSES 151,714. MANAGEMENT AND GENERAL EXPENSES 195,573. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 347,287. FORM 990, PART XI, LINE 9: CHANGE IN ACCOUNTING PRINCIPLES 917,853. DISTRIBUTION FROM VENTURE FUNDS 366,372. RURAL CENTER VENTURES LLC 4021 CARYA DRIVE RALEIGH NC 27610 383880980 INVESTMENTS NC 101970 8811571 RURAL ECONOMIC DEVELOPMENT CENTER IMAF COMMON LLC 1959 N PEACE HAVEN RD SUITE 111 WINSTONSALEM NC 27106 460959357 INVESTMENTS NC 0 230301 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