Civic Intelligence

Rural Electric Economic Development Inc.

990 • Fiscal year 2018 • EIN 46-0445496

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 24, 2019

Organization ProfileREEDFUND.COOP
PO Box 227Madison, SD 57042

(605) 256-4536

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.31x

Higher debt load relative to assets than 56% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

5.39x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

42nd percentile

0.8%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

11th percentile

-19%

Faster revenue growth than 11% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$36,256,567

Up $270,735 (+0.8%) from 2017

Net Assets

Up

$24,952,695

Up $1,138,859 (+4.8%) from 2017

Liabilities

Down

$11,303,872

Down $868,124 (-7.1%) from 2017

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin92nd percentile

Revenue

Down

$2,097,404

Down $483,114 (-19%) from 2017

Expenses

Up

$958,545

Up $146,239 (+18%) from 2017

Net Income

Down

$1,138,859

Down $629,353 (-36%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $24,346,244Liabilities 2010: $11,330,390Net Assets 2010: $13,015,8542010Assets 2011: $27,143,248Liabilities 2011: $12,342,087Net Assets 2011: $14,801,1612011Assets 2012: $25,073,730Liabilities 2012: $10,119,402Net Assets 2012: $14,954,3282012Assets 2013: $26,931,010Liabilities 2013: $10,310,045Net Assets 2013: $16,620,9652013Assets 2014: $28,195,722Liabilities 2014: $10,117,990Net Assets 2014: $18,077,7322014Assets 2015: $29,777,077Liabilities 2015: $9,918,883Net Assets 2015: $19,858,1942015Assets 2016: $32,879,744Liabilities 2016: $11,234,120Net Assets 2016: $21,645,6242016Assets 2017: $35,985,832Liabilities 2017: $12,171,996Net Assets 2017: $23,813,8362017Assets 2018: $36,256,567Liabilities 2018: $11,303,872Net Assets 2018: $24,952,6952018Assets 2019: $42,150,501Liabilities 2019: $15,898,402Net Assets 2019: $26,252,0992019Assets 2020: $43,569,158Liabilities 2020: $14,801,530Net Assets 2020: $28,767,6282020Assets 2021: $44,957,084Liabilities 2021: $14,526,665Net Assets 2021: $30,430,4192021Assets 2022: $46,728,426Liabilities 2022: $14,768,054Net Assets 2022: $31,960,3722022Assets 2023: $48,911,241Liabilities 2023: $15,520,753Net Assets 2023: $33,390,4882023Assets 2024: $54,378,901Liabilities 2024: $15,562,689Net Assets 2024: $38,816,2122024

Highlighted filing

2018

Assets$36,256,567
Liabilities$11,303,872
Net Assets$24,952,695
Open 2018 Filing

Operations Trend

Revenue Growth11th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $1,519,0422010Expenses 2011: $749,6202011Revenue 2012: $877,505Expenses 2012: $724,338Net Income 2012: $153,1672012Revenue 2013: $2,282,177Expenses 2013: $615,540Net Income 2013: $1,666,6372013Revenue 2014: $2,057,592Expenses 2014: $600,825Net Income 2014: $1,456,7672014Revenue 2015: $2,322,253Expenses 2015: $541,791Net Income 2015: $1,780,4622015Revenue 2016: $2,374,759Expenses 2016: $587,329Net Income 2016: $1,787,4302016Revenue 2017: $2,580,518Expenses 2017: $812,306Net Income 2017: $1,768,2122017Revenue 2018: $2,097,404Expenses 2018: $958,545Net Income 2018: $1,138,8592018Revenue 2019: $2,354,510Expenses 2019: $1,055,106Net Income 2019: $1,299,4042019Revenue 2020: $3,809,917Expenses 2020: $1,341,774Net Income 2020: $2,468,1432020Revenue 2021: $2,458,763Expenses 2021: $795,972Net Income 2021: $1,662,7912021Revenue 2022: $2,362,102Expenses 2022: $832,149Net Income 2022: $1,529,9532022Revenue 2023: $2,297,564Expenses 2023: $867,448Net Income 2023: $1,430,1162023Revenue 2024: $6,325,435Expenses 2024: $899,711Net Income 2024: $5,425,7242024

Highlighted filing

2018

Revenue$2,097,404
Expenses$958,545
Net Income$1,138,859
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 24, 2019
Return Version
2018v3.1
Gross Receipts
$2,097,404
Mission and Program Overview

Mission

To provide financing and leverage investments in communities in rural areas to make a difference in the region.

Administration of a rural economic development loan program to stimulate economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$21,002,572$22,811,292▲ $1,808,720
Savings and Temporary Cash Investments$8,943,196$7,518,095▼ $1,425,101
Pledges and Grants Receivable$5,331,668$5,417,450▲ $85,782
Investments Other Securities$668,832$447,985▼ $220,847
Investments Program Related$39,079$61,126▲ $22,047
Prepaid Expenses and Deferred Charges$485$619▲ $134
Total Assets$35,985,832$36,256,567▲ $270,735
Liabilities
Unsecured Notes Loans Payable$6,534,334$5,687,720▼ $846,614
Mortgage Notes Payable Secured by Investment Property$5,382,094$5,358,323▼ $23,771
Accounts Payable and Accrued Expenses$255,568$257,829▲ $2,261
Total Liabilities$12,171,996$11,303,872▼ $868,124
Net Assets / Fund Balance
Unrestricted Net Assets$14,792,398$15,665,475▲ $873,077
Temporarily Rstr Net Assets$5,331,668$5,417,450▲ $85,782
Permanently Rstr Net Assets$3,689,770$3,869,770▲ $180,000
Total Net Assets Fund Balance$23,813,836$24,952,695▲ $1,138,859
Total Liabilities and Net Assets / Fund Balance$35,985,832$36,256,567▲ $270,735
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Ken SchlimgenChairperson
Dave PageVice Chair
Brad SchardinDirector
Char HagarDirector
Chris LarsonDirector
Dave EideDirector
Dick JohnsonDirector
Evan BuckmillerDirector
Jay SpaansDirector
Joel JanorschkeDirector
Kory JohnsonDirector
Matt KleinDirector
Matthew HotzlerDirector
Rodney HaagDirector
Russell GallDirector
Scott MooreDirector
Stephanie HorstDirector
TIM O'LEARYDirector
Tim MccarthyDirector
Tim McintyreDirector
Chad FeldermanDirector (beg 11/18)
Steve ReedDirector (beg. 12/18)
Ron HormanDirector (beg. 4/18)
Daniel WebsterDirector (until 10/18)
Chris StuderAdministrator
Deeann NewvilleSecretary
Dustin ZubkeTreasurer (beg. 10/18)
Greg HollisterTreasurer (until 9/18)

Highest Paid Contractors

ContractorServicesLocationCompensation
East River Electric Power CoopAdministrative Services211 S HARTH AVENUE, Madison, SD 57042$388,601
Revenue and Support

Revenue Composition

Contributions and Grants
$1,328,239
Program Service Revenue
$741,753
Investment Income
$27,412
Other Revenue
$0
All Other Contributions
$283,239
Change in Net Assets
$1,138,859

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,097,404
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,097,404
Total Revenue per Form 990
$2,097,404
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$958,545
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$197,974--$197,974
Fees for Services Management-$56,900-$56,900
Fees for Services Accounting-$12,727-$12,727
Fees for Services Other$12,481--$12,481
Office Expenses-$9,432-$9,432
Fees for Services Legal-$6,071-$6,071
Conferences and Meetings$3,993--$3,993
Insurance-$3,364-$3,364
Other Expenses$3,075$24,665-$3,075
All Other Expenses$1,342--$1,342
Total Functional Expenses$845,386$113,159$0$958,545

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$958,545
Total Expenses per Audited Statements$958,545
Total Expenses per Form 990$958,545
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 1

“The loan committee is comprised of 7 members of the board of directors and two alternates, officers of the corporation, on a rotating basis. Each member serves a two year term. The committee is authorized to consider and approve loans and loan modifications under $350,000. Six participants are required for a quorum. Minutes of the loan committee are forwarded to the board for the record. The board may create an executive committee of five (5) or more directors, including the chairman and vice chairman, the members of which shall be established by the board of directors by resolution for such purposes as considered necessary and proper.”

Form 990, Part VI, Section A, Line 3

“In its memorandum of understanding with east river electric power cooperative, rural electric economic development (reed) lists that the chief member and public relations officer of east river electric will serve as administrator for reed. Chris studer currently serves in this role and was paid by east river electric $46,200 in compensation and $10,700 in benefits during 2018 for services provided to rural electric economic development, inc..”

Form 990, Part VI, Section A, Line 6

“Members consist of electric cooperatives. Each electric cooperative member has a seat on the board and has one vote. The seat is filled by the general manager or designee of the member cooperative.”

Form 990, Part VI, Section B, Line 11B

“Upon completion of rural electric economic development inc's 990, the return will be posted to the secure area of the web site for the directors, officers, and management's review. Any questions or concerns will be addressed and the 990 will be filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to disclose any conflict of interest in regard to any loan that is made. If any board member has a conflict, then the loan application is not issued.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Rural Electric Economic Development Inc
EIN
46-0445496
Phone
6052564536
Address
PO BOX 227, MADISON, SD 57042

Signing Officer

Name
Mike Jaspers
Title
Administrator
Phone
6052564536
Signed
2019-10-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Schlimgen
Formed
1997
Legal Domicile
Sd
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
27

Preparer

Firm
Eide Bailly Llp
Address
200 EAST 10TH ST PO BOX 5125, SIOUX FALLS, SD 57117-5125
Preparer
Laurie Hanson
Phone
6053391999
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is a not-for-profit organization exempt from income taxes under section 501(c)(3) of the internal revenue code. The organization is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the organization is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The state of south dakota does not have an income tax. The organization believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization would recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such interest and penalties are incurred.”

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IRS990/Form990PartVIISectionAGrp/PersonNm16MATT KLEIN
IRS990/Form990PartVIISectionAGrp/PersonNm17CHAR HAGAR
IRS990/Form990PartVIISectionAGrp/PersonNm18CHRIS LARSON
IRS990/Form990PartVIISectionAGrp/PersonNm19DAVE EIDE
IRS990/Form990PartVIISectionAGrp/PersonNm20TIM MCCARTHY
IRS990/Form990PartVIISectionAGrp/PersonNm21EVAN BUCKMILLER
IRS990/Form990PartVIISectionAGrp/PersonNm22KORY JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm23DICK JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm24TIM MCINTYRE
IRS990/Form990PartVIISectionAGrp/PersonNm25RON HORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm26STEVE REED
IRS990/Form990PartVIISectionAGrp/PersonNm27CHRIS STUDER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt270
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt270
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER (UNTIL 9/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER (BEG. 10/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR (BEG 11/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR (UNTIL 10/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR (BEG. 4/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR (BEG. 12/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt27ADMINISTRATOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01997
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GovernmentGrantsAmt01045000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02097404
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt025
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03364
IRS990/InsuranceGrp/TotalAmt03364
IRS990/InterestGrp/ProgramServicesAmt0197974
IRS990/InterestGrp/TotalAmt0197974
IRS990/InvestmentIncomeGrp/ExclusionAmt027412
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt027412
IRS990/InvestmentInJointVentureInd01
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0668832
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0447985
IRS990/InvestmentsProgramRelatedGrp/BOYAmt039079
IRS990/InvestmentsProgramRelatedGrp/EOYAmt061126
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0SD
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE FINANCING AND LEVERAGE INVESTMENTS IN COMMUNITIES IN RURAL AREAS TO MAKE A DIFFERENCE IN THE REGION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt05382094
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt05358323
IRS990/NetAssetsOrFundBalancesBOYAmt023813836
IRS990/NetAssetsOrFundBalancesEOYAmt024952695
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09432
IRS990/OfficeExpensesGrp/TotalAmt09432
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LOAN LOSS PROVISION
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE COSTS
IRS990/OtherExpensesGrp/Desc2SPONSORSHIPS
IRS990/OtherExpensesGrp/Desc3MEMBERSHIP DUES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt024665
IRS990/OtherExpensesGrp/ProgramServicesAmt0344532
IRS990/OtherExpensesGrp/ProgramServicesAmt1272989
IRS990/OtherExpensesGrp/ProgramServicesAmt29000
IRS990/OtherExpensesGrp/ProgramServicesAmt33075
IRS990/OtherExpensesGrp/TotalAmt0344532
IRS990/OtherExpensesGrp/TotalAmt1297654
IRS990/OtherExpensesGrp/TotalAmt29000
IRS990/OtherExpensesGrp/TotalAmt33075
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt03869770
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt05417450
IRS990/PoliticalCampaignActyInd00
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IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2525990
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEES
IRS990/ProgramServiceRevenueGrp/Desc2INVESTMENT LOSSES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0907947
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt160403
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-226597
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0907947
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt160403
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-226597
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01681512
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt020495
IRS990/PYOtherExpensesAmt0812306
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0878511
IRS990/PYRevenuesLessExpensesAmt01768212
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0812306
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02580518
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01138859
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,256,567
Liabilities
$11,303,872
Net assets
$24,952,695
Revenue
$2,097,404
Expenses
$958,545
Net income
$1,138,859
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$54.4$15.6$38.8$6.33$0.90$5.43
2023Detailed filing. Detailed filing data is available for this year.$48.9$15.5$33.4$2.30$0.87$1.43
2022Detailed filing. Detailed filing data is available for this year.$46.7$14.8$32.0$2.36$0.83$1.53
2021Detailed filing. Detailed filing data is available for this year.$45.0$14.5$30.4$2.46$0.80$1.66
2020Detailed filing. Detailed filing data is available for this year.$43.6$14.8$28.8$3.81$1.34$2.47
2019Detailed filing. Detailed filing data is available for this year.$42.2$15.9$26.3$2.35$1.06$1.30
2018Detailed filing. Detailed filing data is available for this year.$36.3$11.3$25.0$2.10$0.96$1.14
2017Detailed filing. Detailed filing data is available for this year.$36.0$12.2$23.8$2.58$0.81$1.77
2016Detailed filing. Detailed filing data is available for this year.$32.9$11.2$21.6$2.37$0.59$1.79
2015Detailed filing. Detailed filing data is available for this year.$29.8$9.92$19.9$2.32$0.54$1.78
2014Detailed filing. Detailed filing data is available for this year.$28.2$10.1$18.1$2.06$0.60$1.46
2013Detailed filing. Detailed filing data is available for this year.$26.9$10.3$16.6$2.28$0.62$1.67
2012Summary only. Only limited summary data is available for this year.$25.1$10.1$15.0$0.88$0.72$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$12.3$14.8$0.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.3$11.3$13.0$1.52