Rural Revitilization Corporation

Organization Overview

Rural Revitilization Corporation is located in Olean, NY. The organization was established in 1982. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Rural Revitilization Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Revitilization Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2023, Rural Revitilization Corporation generated $439.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $437.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

RURAL REVITALIZATION CORPORATION IS A NON-PROFIT ORGANIZATION WHOSE PRIMARY PURPOSE IS TO PROVIDE HOUSING RELATED EDUCATIONAL, TECHNICAL, AND FINANCIAL PROGRAMS TO PROVIDE SAFE, DECENT, AND AFFORDABLE HOUSING THROUGH REINVESTMENT IN THE RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL AREAS SITUATED IN CATTARAUGUS COUNTY, THE WESTERN AREA OF WYOMING COUNTY, AND SOUTHERN ERIE COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE HOUSING REHABILITATION PROGRAM PROVIDES FUNDING FOR DOWN PAYMENTS, CLOSING COSTS AND TO REHABILITATE PARTICIPANTS HOMES.


THE HOUSING RENTAL PROGRAM ALLOWS THE CORPORATION TO CONTINUE THE PROMOTION OF SAFE, DECENT AND AFFORDABLE HOUSING FOR LOW TO MODERATE-INCOME INDIVIDUALS AND FAMILIES IN CATTARAUGUS, ERIE AND WYOMING COUNTIES.


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Board, Officers & Key Employees

Name (title)Compensation
Sonya Mickens
Secretary
$0
Tarah Tarr
Director
$0
Jasmine Hall
President
$0
Janice Capaldo
Vice-President
$0
Marrah Price
Director
$0
Nanci Hurlburt
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $338,181
All other contributions, gifts, grants, and similar amounts not included above$141
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$338,322
Total Program Service Revenue$93,771
Investment income $7,509
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $439,602

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Western Catskills Community Revitalization Council Inc
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Chautauqua County Rural Ministries Inc
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Vermont Council On Rural Development Inc
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Clayton Improvement Associaton Ltd
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Hudson Valley Agri-Business Development Corporation
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Community Capital Of Vermont Inc
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$325,527
Rural Preservation Company Of Clinton County Inc
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$457,605
Southtowns Rural Preservation Company Inc
Boston, NY
$415,070
Rural Revitilization Corporation
Olean, NY
$439,602
Central Massachusetts Center For Business And Enterprise Inc
Whitinsville, MA
$417,631
Aerium A Nonprofit Corporation
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$295,534
Pride Of Ticonderoga Inc
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Rural Development Leadership Network Inc
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$244,718

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