RURAL ECONOMIC DEVELOPMENT CENTER INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- RURAL ECONOMIC DEVELOPMENT CENTER INC (EIN 56-1552375)
- Tax period
- 2024-07-01 to 2025-06-30
- Filed
- 2026-02-13
- IRS object ID
- 202600449349301015
- Schema version
- 2024v5.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-02-13T12:30:48-06:00 | ReturnTs |
| Tax Period End | 2025-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 521446779 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHNSON LAMBERT LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4242 SIX FORKS RD STE 1500 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27609 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 561552375 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RURAL ECONOMIC DEVELOPMENT CENTER INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | RURA | BusinessNameControlTxt |
| Phone | 9192504314 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4021 CARYA DRIVE | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27610 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | PAULA BENSON | PersonNm |
| Person Title | BOARD CHAIR | PersonTitleTxt |
| Phone | 9192504314 | PhoneNum |
| Signature | 2026-02-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | J CALVIN MARKS | PreparerPersonNm |
| PTIN | P01226973 | PTIN |
| Phone | 9197196400 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | PATRICK WOODIE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4021 CARYA DRIVE | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27610 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $72,147,772 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.NCRURALCENTER.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1987 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | WE CHAMPION RURAL NORTH CAROLINA BY INVESTING IN PEOPLE, COMMUNITIES AND POTENTIAL. | ActivityOrMissionDesc |
| Voting Members Governing Body | 21 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 63 | TotalEmployeeCnt |
| Total Volunteers | 22 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $49,884,903 | PYContributionsGrantsAmt |
| CY Contributions Grants | $56,236,894 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $627,585 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $494,903 | CYProgramServiceRevenueAmt |
| PY Investment Income | $9,374,202 | PYInvestmentIncomeAmt |
| CY Investment Income | $12,981,246 | CYInvestmentIncomeAmt |
| PY Other Revenue | $791,844 | PYOtherRevenueAmt |
| CY Other Revenue | $268,291 | CYOtherRevenueAmt |
| PY Total Revenue | $60,678,534 | PYTotalRevenueAmt |
| CY Total Revenue | $69,981,334 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,309,497 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,509,353 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,423,721 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,934,667 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $97,608 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,363,735 | PYOtherExpensesAmt |
| CY Other Expenses | $4,191,088 | CYOtherExpensesAmt |
| PY Total Expenses | $13,096,953 | PYTotalExpensesAmt |
| CY Total Expenses | $11,635,108 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $47,581,581 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $58,346,226 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $247,445,307 | TotalAssetsBOYAmt |
| Total Assets EOY | $309,058,828 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $86,713,091 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $93,274,636 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $160,732,216 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $215,784,192 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | WE CHAMPION RURAL NORTH CAROLINA BY INVESTING IN PEOPLE, COMMUNITIES AND POTENTIALAND ENVISION A RURAL NORTH CAROLINA WHERE EVERY RURAL VOICE MATTERS AND EVERY RURALCOMMUNITY THRIVES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,323,041 | ExpenseAmt |
| Grant | $2,219,117 | GrantAmt |
| Revenue | $9,468,656 | RevenueAmt |
| Desc | SMALL BUSINESS/ENTREPRENEURSHIP: THE RURAL CENTER DELIVERS CRITICAL RESOURCES TO SUPPORT EXISTING BUSINESSES AND ENABLE THE EMERGENCE OF NEW ENTREPRENEURS. THE RURAL CENTER BELIEVES EQUITABLE ECONOMIC GROWTH DEPENDS ON SUSTAINING RURAL SMALL BUSINESSES AND NURTURING SMALL-TOWN ENTREPRENEURS. THE RURAL CENTER'S LENDING SUBSIDIARY, THREAD CAPITAL, WORKS WITH INDIVIDUALS TRYING TO START OR EXPAND A SMALL BUSINESS BY PROVIDING CAPITAL, COACHING, AND CONNECTIONS. THE RURAL CENTER OPERATES THE STATE SMALL BUSINESS CREDIT INITIATIVE PROGRAM TO SUPPORT PRIVATE SECTOR CAPITAL FORMATION IN ALL 100 COUNTIES. THE RURAL CENTER OPERATES CORNERSQUARE COMMUNITY CAPITAL, WHICH SUPPORTS COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN A 17-STATE REGION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,724,108 | ExpenseAmt |
| Grant | $194,540 | GrantAmt |
| Revenue | $209,588 | RevenueAmt |
| Desc | LEADERSHIP & ENGAGEMENT: THE CENTER'S FLAGSHIP LEADERSHIP PROGRAM, THE RURAL ECONOMIC DEVELOPMENT INSTITUTE (REDI) OFFERS PARTICIPANTS COLLABORATIVE LEADERSHIP SKILLS AND RURAL DEVELOPMENT STRATEGIES TO HELP THEM RETURN HOME AND MAKE A MEANINGFUL IMPACT IN THEIR COMMUNITIES. UPON GRADUATING FROM REDI, GRADUATES OF THE PROGRAM BECOME PART OF A LARGER ALUMNI NETWORK OF LEADERS. REDI AND HOMEGROWN LEADERS REGIONAL LEADERSHIP TRAINING HAVE TRAINED OVER 1,800 RURAL LEADERS. THE RURAL SUMMIT BRINGS TOGETHER COMMUNITY LEADERS, POLICYMAKERS, AND RURAL ADVOCATES FROM ACROSS THE STATE AND NATION TO ENGAGE IN A THOUGHTFUL, INTENTIONAL DIALOGUE ABOUT THE ACTIONS WE CAN TAKE TODAY TO ADVANCE POLICY AND SYSTEMS CHANGE ACROSS A BROAD SPECTRUM OF RURAL DEVELOPMENT ISSUES. FINALLY, THROUGH OUR CONNECT CHURCH AND COMMUNITY CONNECT PROGRAMS, WE LOCATE THE POWERFUL INTERSECTION BETWEEN RURAL CHURCH ASSETS AND COMMUNITY OPPORTUNITIES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $963,515 | ExpenseAmt |
| Grant | $95,696 | GrantAmt |
| Desc | ADVOCACY & RESEARCH: 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 OF THE DAY. THE RURAL 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, STORYTELLING, AND BEST PRACTICES, THE RURAL CENTER ADVOCATES ON THE LOCAL, STATE, AND FEDERAL LEVELS FOR THE COMPELLING ISSUES FACING RURAL COMMUNITIES: ISSUES LIKE BROADBAND ACCESS, HEALTHCARE, HOUSING, AGRICULTURE, EDUCATION, ENERGY, WORKFORCE DEVELOPMENT, AND INFRASTRUCTURE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $9,010,664 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 53 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 63 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 21 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKLIN ROBERTS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9192504314 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4021 CARYA DRIVE | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27610 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (33 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| PHIL MARION | ||||||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||||
| SARA CHESTER | ||||||||||
| VICE-CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||||
| YOLANDA TAYLOR | ||||||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||||
| PAULA BENSON | ||||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||||
| JOSE ALVAREZ | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||||
| RYAN AMMANN | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||||
| ANDY ANDERSON | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||||
| DR ZACHARY BARRICKLOW | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| AL BASS | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||||
| CASEY COOPER | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| ANNE FAIRCLOTH | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| LARIZA GARZON | ||||||||||
| BOARD MEMBER (FROM DEC '24) | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| RANDY GORE | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| MIKE HAWKINS | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| RANDOLPH KEATON | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| BEN KNIGHT | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| ALICE SCHENALL | ||||||||||
| BOARD MEMBER (TO DEC '24) | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| KIM SHEPHERD | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| BRITTANY BENNETT WESTON | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||||
| GIL WISE | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| WEYLING WHITE | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| JENNIFER TOLLE WHITESIDE | ||||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||||
| PATRICK WOODIE | ||||||||||
| PRESIDENT & CEO | 40.00 | Yes (X) | $384,462 | $0 | $51,084 | 1.00 | ||||
| CAROLYN RHODES | ||||||||||
| COO | 40.00 | Yes (X) | $303,879 | $0 | $36,358 | |||||
| FRANKLIN T ROBERTS | ||||||||||
| CFO/ASST TREASURER | 40.00 | Yes (X) | $235,999 | $0 | $39,310 | 1.00 | ||||
| JOY STEWART | ||||||||||
| DIR OF INTERNAL COMPLIANCE AND AUDIT | 40.00 | Yes (X) | $166,252 | $0 | $24,810 | |||||
| MISTY HERGET | ||||||||||
| CHIEF PROGRAMS OFFICER | 40.00 | $213,762 | $0 | $32,779 | Yes (X) | |||||
| WILLIAM MITCHELL STALLINGS | ||||||||||
| CHIEF REVENUE OFFICER | 40.00 | $216,529 | $0 | $32,825 | Yes (X) | |||||
| ARMEER G KENCHEN | ||||||||||
| EXEC DIR, CORNERSQUARE LLC | 40.00 | $215,112 | $0 | $40,858 | Yes (X) | |||||
| DANIEL MICHAEL | ||||||||||
| CONTROLLER | 40.00 | $146,600 | $0 | $34,865 | Yes (X) | |||||
| ANDREA BREAZEALE | ||||||||||
| DIR OF HR | 40.00 | $124,800 | $0 | $24,213 | Yes (X) | |||||
| WILLIAM HOLMES | ||||||||||
| SR DIR OF COMMUNICATIONS | 40.00 | $121,693 | $0 | $23,122 | Yes (X) | |||||
| JONATHAN BRERETON | ||||||||||
| EXEC DIR, THREAD CAPITAL (TO AUG '23) | 20.00 | $237,735 | $0 | $0 | 20.00 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,366,823 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $340,224 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 17 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| INTELLECTUAL CURRENCY LLC | |||||
| 3535 PEACHTREE RD NE 529-649 | ATLANTA | GA | 30326 | PROGRAM CONSULTING & MANAGEMENT SERVICES | $1,547,320 |
| BROADBAND CATALYSTS | |||||
| 961 PAINTERS GAP RD | RUTHERFORDTON | NC | 28139 | PROGRAM CONSULTING & MANAGEMENT SERVICES | $368,120 |
| JOHNSON LAMBERT LLP | |||||
| 4242 SIX FORKS ROAD SUITE 1500 | RALEIGH | NC | 27609 | AUDIT AND TAX SERVICES | $215,135 |
| MIGHTY RIVER LLC | |||||
| 1984 STANFORD AVE | ST PAUL | MN | 55105 | PROGRAM CONSULTING & MANAGEMENT SERVICES | $160,000 |
| BOSS CONSULTING & MANAGEMENT LLC | |||||
| 3019 SUNSET DRIVE | CHARLOTTE | NC | 28209 | DATA MANAGEMENT SERVICES | $144,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $48,388,692 | GovernmentGrantsAmt |
| All Other Contributions | $7,848,202 | AllOtherContributionsAmt |
| Total Contributions | $56,236,894 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SMALL BUSINESS RECOVERY | 900099 | $283,966 | $283,966 |
| REGISTRATION FEES | 900099 | $209,588 | $209,588 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,349 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,349 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $494,903 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,341,439 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $9,183,341 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $3,158,098 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $9,894 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $9,894 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,894 | TotalRevenueColumnAmt |
| Exclusion | $9,894 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,806,245 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,166,438 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $639,807 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $639,807 | TotalRevenueColumnAmt |
| Exclusion | $639,807 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THREAD MANAGEMENT FEE | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $257,409 | TotalRevenueColumnAmt |
| Exclusion | $257,409 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $988 | TotalRevenueColumnAmt |
| Exclusion | $988 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $258,397 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $69,981,334 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $9,678,244 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,066,196 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,498,503 | TotalAmt |
| Program Services | $2,498,503 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,850 | TotalAmt |
| Program Services | $10,850 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,701,271 | TotalAmt |
| Program Services | $1,093,019 | ProgramServicesAmt |
| Management And General | $581,709 | ManagementAndGeneralAmt |
| Fundraising | $26,543 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,481,450 | TotalAmt |
| Program Services | $1,540,957 | ProgramServicesAmt |
| Management And General | $904,618 | ManagementAndGeneralAmt |
| Fundraising | $35,875 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $172,740 | TotalAmt |
| Program Services | $141,573 | ProgramServicesAmt |
| Management And General | $26,842 | ManagementAndGeneralAmt |
| Fundraising | $4,325 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $287,393 | TotalAmt |
| Program Services | $235,356 | ProgramServicesAmt |
| Management And General | $44,852 | ManagementAndGeneralAmt |
| Fundraising | $7,185 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $291,813 | TotalAmt |
| Program Services | $174,613 | ProgramServicesAmt |
| Management And General | $112,538 | ManagementAndGeneralAmt |
| Fundraising | $4,662 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $230,557 | TotalAmt |
| Program Services | $201,218 | ProgramServicesAmt |
| Management And General | $29,085 | ManagementAndGeneralAmt |
| Fundraising | $254 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,599 | TotalAmt |
| Program Services | $121,835 | ProgramServicesAmt |
| Management And General | $17,611 | ManagementAndGeneralAmt |
| Fundraising | $153 | FundraisingAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,700 | TotalAmt |
| Program Services | $45,180 | ProgramServicesAmt |
| Management And General | $11,326 | ManagementAndGeneralAmt |
| Fundraising | $194 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,635,301 | TotalAmt |
| Program Services | $2,099,879 | ProgramServicesAmt |
| Management And General | $526,388 | ManagementAndGeneralAmt |
| Fundraising | $9,034 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,331 | TotalAmt |
| Program Services | $16,422 | ProgramServicesAmt |
| Management And General | $23,909 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $140,483 | TotalAmt |
| Program Services | $93,704 | ProgramServicesAmt |
| Management And General | $45,619 | ManagementAndGeneralAmt |
| Fundraising | $1,160 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $99,569 | TotalAmt |
| Program Services | $73,682 | ProgramServicesAmt |
| Management And General | $24,478 | ManagementAndGeneralAmt |
| Fundraising | $1,409 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,150 | TotalAmt |
| Program Services | $142,271 | ProgramServicesAmt |
| Management And General | $49,346 | ManagementAndGeneralAmt |
| Fundraising | $2,533 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $128,761 | TotalAmt |
| Program Services | $115,813 | ProgramServicesAmt |
| Management And General | $12,866 | ManagementAndGeneralAmt |
| Fundraising | $82 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $264,994 | TotalAmt |
| Program Services | $238,353 | ProgramServicesAmt |
| Management And General | $26,477 | ManagementAndGeneralAmt |
| Fundraising | $164 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,576 | TotalAmt |
| Program Services | $1,261 | ProgramServicesAmt |
| Management And General | $1,277 | ManagementAndGeneralAmt |
| Fundraising | $38 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $216,687 | TotalAmt |
| Program Services | $139,160 | ProgramServicesAmt |
| Management And General | $74,041 | ManagementAndGeneralAmt |
| Fundraising | $3,486 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,732 | TotalAmt |
| Program Services | $10,239 | ProgramServicesAmt |
| Management And General | $1,480 | ManagementAndGeneralAmt |
| Fundraising | $13 | FundraisingAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUES & SUBSCRIPTIONS | Desc |
| Total | $28,787 | TotalAmt |
| Program Services | $16,354 | ProgramServicesAmt |
| Management And General | $11,947 | ManagementAndGeneralAmt |
| Fundraising | $486 | FundraisingAmt |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $861 | TotalAmt |
| Program Services | $422 | ProgramServicesAmt |
| Management And General | $427 | ManagementAndGeneralAmt |
| Fundraising | $12 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,635,108 | TotalAmt |
| Program Services | $9,010,664 | ProgramServicesAmt |
| Management And General | $2,526,836 | ManagementAndGeneralAmt |
| Fundraising | $97,608 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,746,884 | BOYAmt |
| EOY | $4,244,137 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,934,233 | BOYAmt |
| EOY | $71,944,250 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,725,893 | BOYAmt |
| EOY | $2,294,468 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $700,110 | BOYAmt |
| EOY | $941,882 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $172,824,190 | BOYAmt |
| EOY | $187,991,981 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,874 | BOYAmt |
| EOY | $205,125 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $5,743,888 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,089,067 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,859,861 | BOYAmt |
| EOY | $2,654,821 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,403,150 | BOYAmt |
| EOY | $9,421,898 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,163,112 | BOYAmt |
| EOY | $29,360,266 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $247,445,307 | BOYAmt |
| EOY | $309,058,828 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,016,875 | BOYAmt |
| EOY | $5,012,382 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,435,209 | BOYAmt |
| EOY | $27,555,274 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,575,836 | BOYAmt |
| EOY | $60,231,700 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $685,171 | BOYAmt |
| EOY | $475,280 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,713,091 | BOYAmt |
| EOY | $93,274,636 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,731,125 | BOYAmt |
| EOY | $202,449,358 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,001,091 | BOYAmt |
| EOY | $13,334,834 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,732,216 | BOYAmt |
| EOY | $215,784,192 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $247,445,307 | BOYAmt |
| EOY | $309,058,828 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $58,346,226 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,586,554 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$4,880,804 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,403,382 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,729,488 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $13,589,219 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $49,884,903 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $56,236,894 | CurrentTaxYearAmt |
| Total | $127,843,886 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,403,382 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,729,488 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $13,589,219 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $49,884,903 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $56,236,894 | CurrentTaxYearAmt |
| Total | $127,843,886 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $6,325,344 | SubstantialContributorsTotAmt |
| Public Support Total170 | $121,518,542 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $200,079 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $365,701 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,243,556 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,330,040 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,167,992 | CurrentTaxYearAmt |
| Total | $9,307,368 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,751 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $292 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,121 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,399 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $988 | CurrentTaxYearAmt |
| Total | $6,551 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $137,157,805 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $25,702,942 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.88600 | PublicSupportCY170Pct |
| Public Support PY170 | 0.89790 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | OTHER INCOME - 2020 AMOUNT: $ 2,751. 2021 AMOUNT: $ 292. 2022 AMOUNT: $ 1,121. 2023 AMOUNT: $ 1,399. 2024 AMOUNT: $ 988. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $58,592 | FilingOrganizationsTotalAmt |
Total Lobbying Expend TotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $58,592 | FilingOrganizationsTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $11,576,516 | FilingOrganizationsTotalAmt |
Total Exempt Purpose Expend TotalExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $11,635,108 | FilingOrganizationsTotalAmt |
Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $731,755 | FilingOrganizationsTotalAmt |
Grassroots Nontaxable GrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $182,939 | FilingOrganizationsTotalAmt |
Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $520,019 | CurrentYearMinus3Amt |
| Current Year Minus2 | $735,651 | CurrentYearMinus2Amt |
| Current Year Minus1 | $804,848 | CurrentYearMinus1Amt |
| Current Year | $731,755 | CurrentYearAmt |
| Total | $2,792,273 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $4,188,410 | LobbyingCeilingAmt |
Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $3,266 | CurrentYearMinus3Amt |
| Current Year Minus2 | $73,717 | CurrentYearMinus2Amt |
| Current Year Minus1 | $75,486 | CurrentYearMinus1Amt |
| Current Year | $58,592 | CurrentYearAmt |
| Total | $211,061 | TotalAmt |
Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $130,005 | CurrentYearMinus3Amt |
| Current Year Minus2 | $183,913 | CurrentYearMinus2Amt |
| Current Year Minus1 | $201,212 | CurrentYearMinus1Amt |
| Current Year | $182,939 | CurrentYearAmt |
| Total | $698,069 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,047,104 | GrassrootsCeilingAmt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,086,131 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,198,297 | DepreciationAmt |
| Book Value | $1,887,834 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $969,131 | OtherCostOrOtherBasisAmt |
| Depreciation | $498,836 | DepreciationAmt |
| Book Value | $470,295 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $688,626 | OtherCostOrOtherBasisAmt |
| Depreciation | $391,934 | DepreciationAmt |
| Book Value | $296,692 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,654,821 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN VENTURE FUNDS | Desc |
| Book Value | $29,360,266 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $29,360,266 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CAPITAL RESERVE LIABILITY | Desc |
| Amt | $475,280 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $475,280 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (26 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| NORTH CAROLINA STATE UNIVERSITY SMALL BUSINESS AND TECHNOLOGY DEVELOPMENT C | |||||||||
| 801 CORPORATE CENTER DRIVE SUITE | 116 | RALEIGH | NC | 27607 | 566000756 | 115 | $1,826,647 | $0 | SSBCI TA GRANT |
| MDC INC | |||||||||
| 307 W MAIN ST | DURHAM | NC | 27701 | 560984222 | 501(C)(3) | $218,412 | $0 | CDFI CAPACITY BUILDING PROGRAM GRANTS | |
| COOPERATIVE BAPTIST FELLOWSHIP | |||||||||
| 6300 DEANE HILL DRIVE | KNOXVILLE | TN | 37919 | 621628058 | 501(C)(3) | $95,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| BLACKBURNS CHAPEL UMC | |||||||||
| 3986 TODD RAILROAD GRADE RD | TODD | NC | 28684 | 560796991 | 501(C)(3) | $50,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| BETHESDA UMC | |||||||||
| 4413 LEGGET ROAD | FAIRMONT | NC | 28340 | 510269137 | 501(C)(3) | $30,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| CALVARY PRESBYTERIAN CHURCH | |||||||||
| 209 PENDE ST N | WILSON | NC | 27893 | 561107031 | 501(C)(3) | $30,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| FIRST UMC (FRANKLIN) | |||||||||
| 66 HARRISON AVE | FRANKLIN | NC | 28734 | 384240774 | 501(C)(3) | $30,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| FIRST UMC (MURPHY) | |||||||||
| 73 VALLEY RIVER AVE | MURPHY | NC | 28906 | 271462312 | 501(C)(3) | $20,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| FIRST UNITED METHODIST CHURCH | |||||||||
| 201 SOUTH ROAD ST | ELIZABETH CITY | NC | 27909 | 562278402 | 501(C)(3) | $13,401 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| ABERNETHY MEMORIAL UMC | |||||||||
| 960 MALCOLM BLVD | CONNELLY SPRINGS | NC | 28612 | 561270377 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| ABUNDANT LIFE MIRACLE CENTER | |||||||||
| 1901 GARDEN ST | NEW BERN | NC | 28560 | 561484866 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| BLUESTONE MISSIONARY BAPTIST CHURCH | |||||||||
| 9892 NC-700 | PELHAM | NC | 27311 | 202285779 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| CARTHAGE UMC | |||||||||
| 401 MCREYNOLDS ST | CARTHAGE | NC | 28327 | 561392911 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| CENTRAL UMC | |||||||||
| 172 N SECOND ST | ALBEMARLE | NC | 28001 | 560591297 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| CHADBOURN UMC | |||||||||
| 300 E 2ND AVE | CHADBOURN | NC | 28431 | 561411014 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| CHATHAM UMC | |||||||||
| 1826 CHATHAM CHURCH RD | MONCURE | NC | 27559 | 562195451 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| FAIRVIEW UMC | |||||||||
| 3146 OSCEOLA ROAD | ELON | NC | 27244 | 383724533 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| LC GRAVES MEMORIAL PRESBYTERIAN | |||||||||
| 201 FAYETTEVILLE ST | CLINTON | NC | 28328 | 561144007 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| LAUREL HILL UMC | |||||||||
| 731 NC-18 | VALE | NC | 28168 | 561409314 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| NEW SAINT PAUL BAPTIST CHURCH | |||||||||
| 1020 E STADIUM DR | EDEN | NC | 27288 | 364753480 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| OAK HILL UNITED METHODIST CHURCH | |||||||||
| 2239 NC-181 | MORGANTON | NC | 28655 | 561276220 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| PILMOOR MEMORIAL UMC | |||||||||
| 192 COURTHOUSE RD | CURRITUCK | NC | 27929 | 561284069 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| PLANK CHAPEL UMC | |||||||||
| 3047 BOBBITT RD | KITTRELL | NC | 27544 | 465130411 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| PROSPECT UNITED METHODIST CHURCH | |||||||||
| 3541 SMITHTOWN RD | EAST BEND | NC | 27018 | 560727845 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| SHARON MISSIONARY BAPTIST CHURCH | |||||||||
| 3890 US-220 BUS | STONEVILLE | NC | 27048 | 020785572 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| TRUTH AND LIFE WORSHIP CENTER | |||||||||
| 300 S WESTGATE DR STE G | GREENSBORO | NC | 27407 | 332266033 | 501(C)(3) | $10,000 | $0 | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 26 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| SCHOLARSHIP FOR HOMEGROWN LEADERS TRAINING | 6 | $5,850 |
| SCHOLARSHIP FOR NC RURAL SUMMIT | 15 | $5,000 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PATRICK WOODIE | ||||||||||||||
| PRESIDENT & CEO | $328,929 | $0 | $26,933 | $0 | $28,600 | $0 | $35,019 | $0 | $16,065 | $0 | $435,546 | $0 | $0 | $0 |
| CAROLYN RHODES | ||||||||||||||
| COO | $253,900 | $0 | $24,239 | $0 | $25,740 | $0 | $27,198 | $0 | $9,160 | $0 | $340,237 | $0 | $0 | $0 |
| FRANKLIN T ROBERTS | ||||||||||||||
| CFO/ASST TREASURER | $214,453 | $0 | $21,546 | $0 | $0 | $0 | $24,483 | $0 | $14,827 | $0 | $275,309 | $0 | $0 | $0 |
| ARMEER G KENCHEN | ||||||||||||||
| EXEC DIR, CORNERSQUARE LLC | $202,458 | $0 | $0 | $0 | $12,654 | $0 | $23,335 | $0 | $17,523 | $0 | $255,970 | $0 | $0 | $0 |
| WILLIAM MITCHELL STALLINGS | ||||||||||||||
| CHIEF REVENUE OFFICER | $216,529 | $0 | $0 | $0 | $0 | $0 | $23,458 | $0 | $9,367 | $0 | $249,354 | $0 | $0 | $0 |
| MISTY HERGET | ||||||||||||||
| CHIEF PROGRAMS OFFICER | $213,762 | $0 | $0 | $0 | $0 | $0 | $22,694 | $0 | $10,085 | $0 | $246,541 | $0 | $0 | $0 |
| JONATHAN BRERETON | ||||||||||||||
| EXEC DIR, THREAD CAPITAL (TO AUG '23 | $0 | $0 | $0 | $0 | $237,735 | $0 | $0 | $0 | $0 | $0 | $237,735 | $0 | $0 | $0 |
| JOY STEWART | ||||||||||||||
| DIR OF INTERNAL COMPLIANCE AND AUDIT | $166,252 | $0 | $0 | $0 | $0 | $0 | $10,441 | $0 | $14,369 | $0 | $191,062 | $0 | $0 | $0 |
| DANIEL MICHAEL | ||||||||||||||
| CONTROLLER | $138,244 | $0 | $0 | $0 | $8,356 | $0 | $18,344 | $0 | $16,521 | $0 | $181,465 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | SEVERANCE: JONATHAN BRERETON $237,735 CONTRIBUTIONS TO SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS: PATRICK WOODIE $28,600 CAROLYN RHODES $25,740 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 DECEMBER 2024. FOR ALL OTHER EMPLOYEES, THE PRESIDENT OF THE ORGANIZATION HANDLES THE SALARY REVIEW PROCESS AND USES MARKET COMPARABLE DATA FROM OTHER FORM 990'S OF SIMILAR ORGANIZATIONS ALONG WITH A CLASSIFICATION AND PAY STUDY PERFORMED BY A BENEFITS CONSULTANT 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 PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 2,099,879. MANAGEMENT AND GENERAL EXPENSES 526,388. FUNDRAISING EXPENSES 9,034. TOTAL EXPENSES 2,635,301. |
| FORM 990, PART XI, LINE 9: | BAD DEBT EXPENSE -4,880,804. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| RURAL CENTER VENTURES LLC | |||||||||
| 4021 CARYA DR | RALEIGH | NC | 27610 | 383880980 | INVESTMENTS | NC | $5,120,507 | $29,206,934 | RURAL ECONOMIC DEVELOPMENT CENTER |
| IMAF COMMON LLC | |||||||||
| 1959 N PEACE HAVEN RD SUITE 111 | WINSTONSALEM | NC | 27106 | 460959357 | INVESTMENTS | NC | $0 | $154,795 | RURAL CENTER VENTURES LLC |
| CORNERSQUARE COMMUNITY CAPITAL LLC | |||||||||
| 4021 CARYA DR | RALEIGH | NC | 27610 | LOAN PARTICIPATIONS | NC | $2,521,679 | $38,703,945 | RURAL ECONOMIC DEVELOPMENT CENTER | |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THREAD CAPITAL INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4021 CARYA DR | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27610 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 831284532 | EIN |
| Primary Activities | ECONOMIC DEVELOPMENT | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RURAL ECONOMIC DEVELOPMENT CENTER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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