Rock Rapids Area Development Foundation Inc

Organization Overview

Rock Rapids Area Development Foundation Inc is located in Rock Rapids, IA. The organization was established in 1988. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rock Rapids Area Development Foundation Inc 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, Rock Rapids Area Development Foundation Inc generated $51.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.7%) each year. All expenses for the organization totaled $33.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2021

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION IS WORKING IN CORRELATION WITH THE ROCK RAPIDS DEVELOPMENT CORPORATION TO STIMULATE COMMERCIAL GROWTH AND JOB OPPORTUNITIES FOR CITIZENS OF THE CITY OF ROCK RAPIDS. THE FOUNDATION HAS BEEN ACQUIRING DESIRED PROPERTY AND CONTRUCTING COMMERCIAL SPEC BUILDINGS. UPON COMPLETION, THE FOUNDATION IS SELLING THE BUILDINGS AT A REASONABLE PRICE TO AN EXISTING BUSINESS FOR RELOCATION OR EXPANSION OR A NEW BUSINESS TO THE COMMUNITY.


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $109,952
Interest on Savings $3,278
Dividends & Interest $0
Net Rental Income$16,744
Net Gain on Sale of Assets $0
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income -$79,354
Total Revenue $51,466

Grants Awarded

Over the last fiscal year, Rock Rapids Area Development Foundation Inc has awarded $58,000 in support to 20 organizations.

Grant RecipientAmount

LYON COUNTY ECONOMIC CONSORTIUM

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$40,000

FIESTA BRAVA

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$1,000

GLENNA KLAASSEN

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$1,000

MELISSA METZGER

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$1,000

CORRAL LANES

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$1,000

BRENDA JEPSEN

PURPOSE: A GRANT WAS GIVEN TO BUSINESSES TO ASSIST IN THE ONGOING BUSINESS DIFFICULTIES RELATED TO THE COVID-19 PANDEMIC.

$1,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Rock Rapids Area Development Foundation Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Peoples Charitable Foundation

Rock Valley, IA

PURPOSE: CHARITABLE

$25,000
View Grant Recipient Profile

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