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Rural Economic Development Center
Rural Economic Development Center reported $70.0 million in revenue and $11.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $77.44 went to program services, $21.72 to management and general costs and $0.84 to fundraising. Its largest source of revenue was contributions and grants: 80.4% of the total. Government grants made up 69.1%. The highest compensation it reported for one person was $435,546 (PRESIDENT & CEO). 17 people received more than $100,000 in reportable compensation. Revenue rose 1068% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $12MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $70MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 77.4% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 21.7% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.8% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 80.4% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 69.1% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.7% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $435,546 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.74% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 17 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 222.6 | 9.2 |
| Independent voting board members Part VI 1a–1b | 21 of 21 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseSmall 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…
Leadership & engagement: the center's flagship leadership program, the Rural Economic Development institute (redi) offers participants collaborative leadership skills and Rural Development strategies to help them return home and make a meaningful impact in their communities. Upon graduating from redi, graduates of the program become part of a larger alumni network of leaders. Redi and homegrown leaders regional leadership training have trained over 1,800 rural leaders. The rural summit brings together community leaders, policymakers, and rural advocates from across the state and nation to…
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…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $384,462 | $0 | $51,084 | $435,546 |
| COO Officer, 40.00 hrs/week | $303,879 | $0 | $36,358 | $340,237 |
| CFO/ASST TREASURER Officer, 40.00 hrs/week | $235,999 | $0 | $39,310 | $275,309 |
| EXEC DIR, CORNERSQUARE LLC Highest compensated employee, 40.00 hrs/week | $215,112 | $0 | $40,858 | $255,970 |
| CHIEF REVENUE OFFICER Highest compensated employee, 40.00 hrs/week | $216,529 | $0 | $32,825 | $249,354 |
| CHIEF PROGRAMS OFFICER Key employee, 40.00 hrs/week | $213,762 | $0 | $32,779 | $246,541 |
| EXEC DIR, THREAD CAPITAL (TO AUG '23) Former, 20.00 hrs/week | $237,735 | $0 | $0 | $237,735 |
| DIR OF INTERNAL COMPLIANCE AND AUDIT Officer, 40.00 hrs/week | $166,252 | $0 | $24,810 | $191,062 |
17 people received more than $100,000 in reportable compensation from Rural Economic Development Center (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b21 · 21 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 563
- Volunteers Part I, line 622
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| INTELLECTUAL CURRENCY LLC Program consulting & management services | $1,547,320 |
| BROADBAND CATALYSTS Program consulting & management services | $368,120 |
| MIGHTY RIVER LLC Program consulting & management services | $160,000 |
| BOSS CONSULTING & MANAGEMENT LLC Data management services | $144,000 |
Individuals listed as contractors are left out. 7 contractors were paid more than $100,000 in all.
Private foundation grants it received
4 private foundations reported grants to Rural Economic Development Center totaling $2.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Rural Economic Development Center's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Rural Economic Development Center, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Rural Economic Development Center spent in FY2025, $77.44 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- AvanceSan Antonio, TX · revenue $66M · programs 89.1% · FY2025
- Community Action KentuckyFrankfort, KY · revenue $70M · programs 98.2% · FY2025
- Society of Manufacturing EngineersSouthfield, MI · revenue $66M · programs 71.6% · 2024
- Marshall University Research CorporationHuntington, WV · revenue $71M · programs 83.9% · FY2025
- Cincinnati Center City Development CorpCincinnati, OH · revenue $66M · programs 88.8% · 2024
All community improvement & capacity building charities · Largest charities in North Carolina
Questions people ask
How much of Rural Economic Development Center's spending goes to programs?
In the fiscal year ending June 30, 2025, Rural Economic Development Center reported that 77.4% of its $11.6 million in expenses went to program services, 21.7% to management and general and 0.8% to fundraising (Form 990, Part IX).
How much does Rural Economic Development Center pay its top executive?
The largest total compensation Rural Economic Development Center reported for one person in the fiscal year ending June 30, 2025 was $435,546, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Rural Economic Development Center get its money?
Of $70.0 million in revenue in the fiscal year ending June 30, 2025, 80.4% came from contributions and grants (including 69.1% from government grants) and 0.7% from program service revenue (Form 990, Part VIII).
Is Rural Economic Development Center a registered charity?
The IRS lists EIN 56-1552375 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202600449349301015 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202540169349301414 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401069349300330 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202300279349301215 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241259349303044 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111329349302171 · read the filing
All filings for EIN 56-1552375: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.