Rural Economic Development Center Inc

Organization Overview

Rural Economic Development Center Inc is located in Raleigh, NC. The organization was established in 1987. 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 06/2022, Rural Economic Development Center Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Economic Development Center 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 06/2022, Rural Economic Development Center Inc generated $11.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $7.4m during the year ending 06/2022. While expenses have increased by 11.8% 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.

Since 2015, Rural Economic Development Center Inc has awarded 34 individual grants totaling $436,310. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

CONDUCTING POLICY RESEARCH FOCUSED ON IMPROVING ECONOMIC CONDITIONS,STRENGTHENING INFRASTRUCTURE, SUPPORTING INCREASED ENTREPRENEURIALDEVELOPMENT, AND INCREASING THE NUMBER OF JOBS AVAILABLE IN RURALAREAS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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.


LEADERSHIP & ENGAGEMENT: THE RURAL CENTER PROVIDES RURAL COMMUNITIES WITH A COMPREHENSIVE FRAMEWORK FOR ECONOMIC DEVELOPMENT, TOOLS TO INVEST IN BUILDING THEIR ASSETS AND CREATE CULTURES OF COLLABORATIVE PROBLEM SOLVING. AS A PROMOTER OF LEADERSHIP THAT IS INCLUSIVE, CONNECTED, INFORMED AND CREATIVE, THE RURAL CENTER NURTURES THE STATE'S NEXT GENERATION OF RURAL LEADERS. THE RURAL CENTER WORKS TO EQUIP COMMUNITIES AND LEADERS WITH THE KNOWLEDGE AND TOOLS NECESSARY TO MANAGE THE CHALLENGES OF A CHANGING ECONOMIC LANDSCAPE AND TO PROMOTE SUSTAINED ECONOMIC AND COMMUNITY DEVELOPMENT. THE RURAL CENTER'S RURAL ECONOMIC DEVELOPMENT INSTITUTE (REDI) AND REGIONAL LEADERSHIP TRAINING, HOMEGROWN LEADERS, HAVE TRAINED MORE THAN 1,300 RURAL LEADERS SINCE 1989. THE COMMUNITY ENGAGEMENT PROGRAM PROVIDED CAPACITY BUILDING, TECHNICAL ASSISTANCE AND TRAINING TO RURAL COMMUNITIES.


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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Brooks Pierce Mclendon Humphrey And Leon
Legal Services
$238,318
Boss Consulting
Consulting Services
$112,800
Johnson Lambert
Audit And Tax Services
$164,061
John Coggin
Consulting Services
$107,951
Dan Gerlach
Consulting Services
$107,859
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,061,151
All other contributions, gifts, grants, and similar amounts not included above$4,668,337
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,729,488
Total Program Service Revenue$144,240
Investment income $2,567,746
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $4,000
Net Gain/Loss on Asset Sales $1,053,348
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $11,378,133

Grants Awarded

Over the last fiscal year, Rural Economic Development Center Inc has awarded $115,000 in support to 8 organizations.

Grant RecipientAmount

FRIENDSHIP UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000

MT BETHEL UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000

BIG SANDY UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000

BETHANY UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000

MAGGIE VALLEY UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000

PINK HILL UNITED METHODIST CHURCH

Org PageRecipient Profile

Nashville, TN

PURPOSE: FAITH IN RURAL COMMUNITIES SUB-GRANT

$15,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 15 grants that Rural Economic Development Center Inc has recieved totaling $1,675,504.

Awarding OrganizationAmount
Duke Endowment

Charlotte, NC

PURPOSE: TO BUILD THE CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT.

$406,000
$218,504
Dogwood Health Trust

Asheville, NC

PURPOSE: WNC EDUCATION CAMPAIGN ON THE HEALTH INSURANCE COVERAGE GAP

$180,000
Ewing Marion Kauffman Foundation

Kansas City, MO

PURPOSE: SUPPORT TO CONVENE A TASK FORCE TO DEVELOP POLICY PROPOSALS THAT SUPPORT NORTH CAROLINA ENTREPRENEURS AND THEN ENGAGE ENTREPRENEURS IN EDUCATING STATE POLICYMAKERS. 202001-7761

$175,000
Hopewell Fund

Washington, DC

PURPOSE: CIVIL RIGHTS, SOCIAL ACTION, ADVOCACY

$102,500
Z Smith Reynolds Foundation Inc

Winstonsalem, NC

PURPOSE: FOR GENERAL OPERATING SUPPORT

$100,000
View Grant Recipient Profile

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