Regional Development Company
- Assets
- $862.2k
- Revenue
- $953.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Valparaiso, IN
- Founding
- 04/1995
- Data as of
- 09/2023
- EIN
- 35-1939664
Organization Overview
Regional Development Company is located in Valparaiso, IN. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Regional Development Company employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Development Company is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Regional Development Company generated $953.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $999.7k during the year ending 09/2023. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP SMALL BUSINESSES BECOME AWARE OF SBA 504 LOAN FINANCING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCING WAS PROVIDED TO 19 APPLICANTS DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Wilk Director | Trustee | 1 | $0 |
Rex Richards Secretary | OfficerTrustee | 1 | $0 |
Scott Casbon Director | OfficerTrustee | 1 | $0 |
Keven Jennings Director | Trustee | 1 | $0 |
John Matthiesen Director | OfficerTrustee | 1 | $0 |
William Hasse 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $845,519 |
| Investment income | $5,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $94,865 |
| 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 | $953,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,100 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $179,744 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $403,334 |
| Pension plan accruals and contributions | $27,386 |
| Other employee benefits | $66,163 |
| Payroll taxes | $42,849 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,168 |
| Fees for services: Accounting | $55,022 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,246 |
| Advertising and promotion | $25,149 |
| Office expenses | $21,023 |
| Information technology | $28,923 |
| Royalties | $0 |
| Occupancy | $39,137 |
| Travel | $8,389 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,888 |
| Interest | $6,769 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,925 |
| Insurance | $13,438 |
| All other expenses | $3,863 |
| Total functional expenses | $999,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,140 |
| Savings and temporary cash investments | $148,947 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,585 |
| Net Land, buildings, and equipment | $451,168 |
| Investments—publicly traded securities | $150,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,320 |
| Total assets | $862,160 |
| Accounts payable and accrued expenses | $37,997 |
| Grants payable | $0 |
| Deferred revenue | $36,960 |
| 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 | $155,927 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,654 |
| Total liabilities | $271,538 |
| Net assets without donor restrictions | $0 |
| 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 | $862,160 |