Rainier Valley Community Development Fund
- Assets
- $31.1m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Seattle, WA
- Founding
- 12/2003
- Data as of
- 12/2021
- EIN
- 33-1030838
Organization Overview
Rainier Valley Community Development Fund is located in Seattle, WA. The organization was established in 2003. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Rainier Valley Community Development Fund employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainier Valley Community Development Fund 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 12/2021, Rainier Valley Community Development Fund generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Rainier Valley Community Development Fund has awarded 23 individual grants totaling $235,289. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SERVES AS A CATALYST FOR ECONOMIC DEVELOPMENT THAT PROMOTES THE DIVERSITY AND LIVABILITY OF THE RAINIER VALLEY AREA OF SOUTHEAST SEATTLE, WASHINGTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION (RVCDF) ACTS AS TRUSTEE FOR A REVOLVING LOAN FUND, PROVIDED BY THE CITY OF SEATTLE, AND ADDITIONAL LOAN CAPITAL TO BENEFIT THE SOUTHEAST SEATTLE COMMUNITY. THE REVOLVING LOAN FUNDS MAY ONLY BE USED FOR COMMUNITY DEVELOPMENT ACTIVITIES IN SPECIFIED AREAS AS DEFINED IN THE TRUST DOCUMENT. IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT AND ADDITIONAL LOAN CAPITAL, RVCDF ADVANCED FUNDS APPROXIMATING $9.5 MILLION FOR THE BUSINESS AND REAL ESTATE LOANS IN 2021.
RVCDF, JOINTLY WITH ANOTHER NONPROFIT COMMUNITY LENDER, PROVIDED TECHNICAL AND FINANCIAL ASSISTANCE IN THE FORM OF GRANTS TO 50 SMALL BUSINESSES IN THE GEOGRAPHIC SERVICE AREA IN SUPPORT OF THEIR BUSINESS OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sanjiv Dorsey Executive Director | Officer | 40 | $155,000 |
Kateesha Atterberry Chair | OfficerTrustee | 1 | $0 |
Alvertis Brooks Jr Treasurer | OfficerTrustee | 1 | $0 |
Cleodis Floyd Secretary | OfficerTrustee | 1 | $0 |
Rodolfo Castillo Jr Director | Trustee | 1 | $0 |
Mandy Landa Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,002,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,002,500 |
| Total Program Service Revenue | $1,090,157 |
| Investment income | $35,746 |
| 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 | $2,128,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $318,168 |
| Grants and other assistance to domestic individuals. | $6,108 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $162,683 |
| Compensation of current officers, directors, key employees. | $155,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,758 |
| Pension plan accruals and contributions | $5,072 |
| Other employee benefits | $4,612 |
| Payroll taxes | $37,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,366 |
| Fees for services: Accounting | $102,481 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,584 |
| Advertising and promotion | $5,000 |
| Office expenses | $9,848 |
| Information technology | $9,800 |
| Royalties | $0 |
| Occupancy | $28,090 |
| Travel | $763 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,255 |
| Interest | $29,923 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,833 |
| Insurance | $14,281 |
| All other expenses | $0 |
| Total functional expenses | $1,158,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,574,573 |
| Savings and temporary cash investments | $3,146,136 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $25,808,477 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,701 |
| Net Land, buildings, and equipment | $30,667 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $576,848 |
| Total assets | $31,147,402 |
| Accounts payable and accrued expenses | $26,201 |
| Grants payable | $0 |
| Deferred revenue | $500,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,513,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,039,701 |
| Net assets without donor restrictions | $29,107,701 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $31,147,402 |
Grants Awarded
Over the last fiscal year, Rainier Valley Community Development Fund has awarded $235,289 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
TRES AMIGAS SEATTLE LLC PURPOSE: PROGRAM SUPPORT | $32,949 |
GREEN STONE PROPERTIES INC PURPOSE: PROGRAM SUPPORT | $18,538 |
Seattle, WA PURPOSE: PROGRAM SUPPORT | $14,753 |
ONDA EXCHANGE CO PURPOSE: PROGRAM SUPPORT | $11,942 |
THAT BROWN GIRL COOKS LLC PURPOSE: PROGRAM SUPPORT | $10,745 |
AUTHENTIC HERBALS INC PURPOSE: PROGRAM SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rainier Valley Community Development Fund has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeast Idaho Council Of Governments Pocatello, ID | $3,930,475 | $5,896,264 |
Polk Community Development Corporation Dallas, OR | $22,075,845 | $5,307,917 |
Linn Economic Development Group Albany, OR | $31,589,789 | $17,862,142 |
Fly Sun Valley Alliance Inc Ketchum, ID | $3,221,686 | $1,660,297 |
Rainier Valley Community Development Fund Seattle, WA | $31,147,402 | $2,128,403 |
Idaho Freedom Foundation Inc Boise, ID | $1,060,200 | $895,196 |
Albina Vision Inc Portland, OR | $1,749,846 | $2,276,354 |
Malheur Watershed Council Ontario, OR | $174,381 | $754,956 |
Northwest Minority Supplier Development Council Tukwila, WA | $1,329,089 | $1,211,694 |
West Seattle Junction Association Seattle, WA | $609,509 | $675,325 |
Block By Block Redmond, WA | $616,706 | $347,970 |
Fourth Plain Forward Vancouver, WA | $259,702 | $507,488 |