Civic Intelligence

Rural Nevada Development Corporation

990 • Fiscal year 2019 • EIN 88-0280033

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 16, 2019

Organization ProfileN/A
1320 East Aultman StreetEly, NV 89301

(775) 289-8519

Siviq Scores

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

Liabilities / Assets

87th percentile

0.82x

Higher debt load relative to assets than 87% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

4.85x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

56th percentile

4.6%

Higher net margin than 56% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

4th percentile

-16%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-46%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$11,486,154

Down $2,174,643 (-16%) from 2018

Net Assets

Up

$2,053,915

Up $90,369 (+4.6%) from 2018

Liabilities

Down

$9,432,239

Down $2,265,012 (-19%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin56th percentile

Revenue

Down

$1,945,116

Down $1,688,182 (-46%) from 2018

Expenses

Down

$1,854,747

Down $1,033,339 (-36%) from 2018

Net Income

Down

$90,369

Down $654,843 (-88%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$40M$30M$20M$10M$0Assets 2012: $11,772,851Liabilities 2012: $10,601,955Net Assets 2012: $1,170,8962012Assets 2013: $13,234,042Liabilities 2013: $11,767,646Net Assets 2013: $1,466,3962013Assets 2014: $13,284,834Liabilities 2014: $11,764,430Net Assets 2014: $1,520,4042014Assets 2015: $13,709,862Liabilities 2015: $12,493,843Net Assets 2015: $1,216,0192015Assets 2016: $13,311,684Liabilities 2016: $12,157,707Net Assets 2016: $1,153,9772016Assets 2017: $13,324,347Liabilities 2017: $12,106,013Net Assets 2017: $1,218,3342017Assets 2018: $13,660,797Liabilities 2018: $11,697,251Net Assets 2018: $1,963,5462018Assets 2019: $11,486,154Liabilities 2019: $9,432,239Net Assets 2019: $2,053,9152019Assets 2020: $11,956,520Liabilities 2020: $9,910,832Net Assets 2020: $2,045,6882020Assets 2021: $21,547,293Liabilities 2021: $10,908,474Net Assets 2021: $10,638,8192021Assets 2022: $25,484,515Liabilities 2022: $11,533,388Net Assets 2022: $13,951,1272022Assets 2023: $28,451,438Liabilities 2023: $11,858,575Net Assets 2023: $16,592,8632023Assets 2024: $32,634,809Liabilities 2024: $13,646,938Net Assets 2024: $18,987,8712024Assets 2025: $34,080,589Liabilities 2025: $12,488,662Net Assets 2025: $21,591,9272025

Highlighted filing

2019

Assets$11,486,154
Liabilities$9,432,239
Net Assets$2,053,915
Open 2019 Filing

Operations Trend

Revenue Growth5th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2012: $5,406,035Expenses 2012: $6,302,569Net Income 2012: -$896,5342012Revenue 2013: $3,562,192Expenses 2013: $3,266,692Net Income 2013: $295,5002013Revenue 2014: $3,301,776Expenses 2014: $3,247,770Net Income 2014: $54,0062014Revenue 2015: $2,855,702Expenses 2015: $3,088,711Net Income 2015: -$233,0092015Revenue 2016: $2,532,418Expenses 2016: $2,594,460Net Income 2016: -$62,0422016Revenue 2017: $2,786,498Expenses 2017: $2,659,042Net Income 2017: $127,4562017Revenue 2018: $3,633,298Expenses 2018: $2,888,086Net Income 2018: $745,2122018Revenue 2019: $1,945,116Expenses 2019: $1,854,747Net Income 2019: $90,3692019Revenue 2020: $1,698,422Expenses 2020: $1,706,649Net Income 2020: -$8,2272020Revenue 2021: $11,283,329Expenses 2021: $2,097,882Net Income 2021: $9,185,4472021Revenue 2022: $5,521,868Expenses 2022: $2,016,110Net Income 2022: $3,505,7582022Revenue 2023: $4,912,598Expenses 2023: $2,076,612Net Income 2023: $2,835,9862023Revenue 2024: $5,567,728Expenses 2024: $2,887,421Net Income 2024: $2,680,3072024Revenue 2025: $5,054,036Expenses 2025: $2,448,260Net Income 2025: $2,605,7762025

Highlighted filing

2019

Revenue$1,945,116
Expenses$1,854,747
Net Income$90,369
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 16, 2019
Return Version
2018v3.1
Gross Receipts
$4,802,947
Mission and Program Overview

Mission

Rural nevada development corporation (rndc) is a 501(c) 3 non-profit development corporation formed in january 1992 to serve the fifteen (15) rural counties, rural clark and washoe counties, and the twenty-seven (27) native american tribes of nevada. Rndc has been responsive to the needs of rural communities by addressing critical issues such as affordable housing, down payment assistance, homeowner rehabilitation and small business alternative lending practices and has received certification from the department of treasury as a community development financial institution (cdfi). Its ability to leverage involvement statewide from public and private sources has been successful. In 1999, rndc business-lending program won a best practice award from hud for its creativity in addressing a problem and effectively leveraging resources.

Economic development services

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,596,824$7,076,011▲ $479,187
Investments Other Securities$5,028,687--
Savings and Temporary Cash Investments-$895,979-
Cash and Non-Interest-Bearing Accounts$1,525,316$447,050▼ $1,078,266
Land, Buildings, and Equipment, Net$359,345$329,732▼ $29,613
Accounts Receivable$13,806$200,639▲ $186,833
Pledges and Grants Receivable$129,616$175,117▲ $45,501
Prepaid Expenses and Deferred Charges$7,203$5,709▼ $1,494
Total Assets$13,660,797$11,486,154▼ $2,174,643
Other Assets Total-$2,355,917-
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,596,043$9,270,464▼ $2,325,579
Accounts Payable and Accrued Expenses$33,301$121,448▲ $88,147
Other Liabilities$64,137$33,391▼ $30,746
Deferred Revenue$3,770$6,936▲ $3,166
Total Liabilities$11,697,251$9,432,239▼ $2,265,012
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,144,156$1,549,733▼ $594,423
Unrestricted Net Assets$-180,610$504,182▲ $684,792
Total Net Assets Fund Balance$1,963,546$2,053,915▲ $90,369
Total Liabilities and Net Assets / Fund Balance$13,660,797$11,486,154▼ $2,174,643

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$270,692$86,344$357,036
Equipment$59,040$81,623$140,663
Other Assets Org$2,355,917--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary KernerCEOFT$107,673$10,426$118,099

Board Members and Trustees

NameTitle
Jerry MartinBoard Chair
Cherrie GeorgeDirector
Danny BensonDirector
Edward VentoDirector
James UtterbackDirector
Janis WoodDirector
Kathy HalbardierDirector
Kenna AlmbergDirector
Lisa GeorgeDirector
Scooter MentaberryDirector
Shirley Kellerman1st Vice CHA
Trish Rippie2nd Vice CHA
Joni EastleySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$620,086
Program Service Revenue
$1,214,773
Investment Income
$110,257
Other Revenue
$0
Change in Net Assets
$90,369

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,945,116
Total Revenue per Audited Statements
$1,945,116
Total Revenue per Form 990
$1,945,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,334,157
Salaries, Compensation, and Employee Benefits$520,590
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$294,547$38,050-$332,597
Interest$183,296$5,785-$189,081
Fees for Services Legal$171,295$14,397-$185,692
Depreciation Depletion$125,294$29,613-$154,907
Current Officers, Directors, Trustees, and Key Employees$106,919$18,683-$125,602
All Other Expenses$17,709$40,860-$58,569
Insurance$41,842$10,589-$52,431
Other Expenses$36,068$3,212-$36,068
Other Employee Benefits$26,994$3,576-$30,570
Payroll Taxes$21,468$3,017-$24,485
Travel$17,920$1,003-$18,923
Office Expenses$11,198$5,570-$16,768
Pension Plan Contributions$6,516$820-$7,336
Occupancy$2,920$332-$3,252
Advertising$1,646$1,441-$3,087
Total Functional Expenses$1,672,735$182,012$0$1,854,747

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,854,747
Total Expenses per Audited Statements$1,854,747
Total Expenses per Form 990$1,854,747
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$19,580
Compensated Absences Payable$9,511
Security Deposits$4,300
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Copy was provided to governing body.”

Form 990, Page 6, Part VI, Line 19

“Documents are available for inspection at the coroporate offices.”

Filing and Contact Details

Filer

Filer Name
Rural Nevada Development
EIN
88-0280033
Phone
7752898519
Address
1320 EAST AULTMAN STREET, ELY, NV 89301

Signing Officer

Name
Mary Kerner
Title
CEO
Phone
7752898519
Signed
2019-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Kerner
Formed
1982
Legal Domicile
Nv
Voting Board Members
13
Independent Board Members
13
Employees
9
Volunteers
13

Preparer

Firm
Hintonburdick Pllc
Address
63 SOUTH 300 EAST STE 100, ST GEORGE, UT 84770-2948
Preparer
Steven Palmer CPA
Phone
4356283663
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Rural nevada development corporation (rndc) is a 501(c) 3 non-profit development corporation formed in january 1992 to serve the fifteen (15) rural counties, rural clark and washoe counties, and the twenty-seven (27) native american tribes of nevada. Rndc has been responsive to the needs of rural communities by addressing critical issues such as affordable housing, down payment assistance, homeowner rehabilitation and small business alternative lending practices and has received certification from the department of treasury as a community development financial institution (cdfi). Its ability to leverage involvement statewide from public and private sources has been successful. In 1999, rndc business-lending program won a best practice award from hud for its creativity in addressing a problem and effectively leveraging resources.”

Form 990, Page 2, Part III, Line 4D

“Other program services - multi-family housing initiative to provide affordable housing to qualifying low-income tenants.”

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IRS990/MissionDesc0RURAL NEVADA DEVELOPMENT CORPORATION (RNDC) IS A 501(C) 3 NON-PROFIT DEVELOPMENT CORPORATION FORMED IN JANUARY 1992 TO SERVE THE FIFTEEN (15) RURAL COUNTIES, RURAL CLARK AND WASHOE COUNTIES, AND THE TWENTY-SEVEN (27) NATIVE AMERICAN TRIBES OF NEVADA. RNDC HAS BEEN RESPONSIVE TO THE NEEDS OF RURAL COMMUNITIES BY ADDRESSING CRITICAL ISSUES SUCH AS AFFORDABLE HOUSING, DOWN PAYMENT ASSISTANCE, HOMEOWNER REHABILITATION AND SMALL BUSINESS ALTERNATIVE LENDING PRACTICES AND HAS RECEIVED CERTIFICATION FROM THE DEPARTMENT OF TREASURY AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). ITS ABILITY TO LEVERAGE INVOLVEMENT STATEWIDE FROM PUBLIC AND PRIVATE SOURCES HAS BEEN SUCCESSFUL. IN 1999, RNDC BUSINESS-LENDING PROGRAM WON A BEST PRACTICE AWARD FROM HUD FOR ITS CREATIVITY IN ADDRESSING A PROBLEM AND EFFECTIVELY LEVERAGING RESOURCES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE INTERMEDIARY RELENDING PROGRAM PROVIDED LOANS TO RURAL BUSINESSES WHO HAVE NOT BEEN ABLE TO OBTAIN LOANS FROM COMMERCIAL LENDERS.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0454502
IRS990/ProgSrvcAccomActy3Grp/Desc0HOUSING WEATHERIZATION
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAM SERVICES - MULTI-FAMILY HOUSING INITIATIVE TO PROVIDE AFFORDABLE HOUSING TO QUALIFYING LOW-INCOME TENANTS.
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IRS990/PYSalariesCompEmpBnftPaidAmt0529451
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1COMPENSATED ABSENCES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RURAL NEVADA DEVELOPMENT CORPORATION (RNDC) IS A 501(C) 3 NON-PROFIT DEVELOPMENT CORPORATION FORMED IN JANUARY 1992 TO SERVE THE FIFTEEN (15) RURAL COUNTIES, RURAL CLARK AND WASHOE COUNTIES, AND THE TWENTY-SEVEN (27) NATIVE AMERICAN TRIBES OF NEVADA. RNDC HAS BEEN RESPONSIVE TO THE NEEDS OF RURAL COMMUNITIES BY ADDRESSING CRITICAL ISSUES SUCH AS AFFORDABLE HOUSING, DOWN PAYMENT ASSISTANCE, HOMEOWNER REHABILITATION AND SMALL BUSINESS ALTERNATIVE LENDING PRACTICES AND HAS RECEIVED CERTIFICATION FROM THE DEPARTMENT OF TREASURY AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). ITS ABILITY TO LEVERAGE INVOLVEMENT STATEWIDE FROM PUBLIC AND PRIVATE SOURCES HAS BEEN SUCCESSFUL. IN 1999, RNDC BUSINESS-LENDING PROGRAM WON A BEST PRACTICE AWARD FROM HUD FOR ITS CREATIVITY IN ADDRESSING A PROBLEM AND EFFECTIVELY LEVERAGING RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER PROGRAM SERVICES - MULTI-FAMILY HOUSING INITIATIVE TO PROVIDE AFFORDABLE HOUSING TO QUALIFYING LOW-INCOME TENANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPY WAS PROVIDED TO GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE COROPORATE OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalAssetsGrp/EOYAmt011486154
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,486,154
Liabilities
$9,432,239
Net assets
$2,053,915
Revenue
$1,945,116
Expenses
$1,854,747
Net income
$90,369
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.1$12.5$21.6$5.05$2.45$2.61
2024Detailed filing. Detailed filing data is available for this year.$32.6$13.6$19.0$5.57$2.89$2.68
2023Detailed filing. Detailed filing data is available for this year.$28.5$11.9$16.6$4.91$2.08$2.84
2022Detailed filing. Detailed filing data is available for this year.$25.5$11.5$14.0$5.52$2.02$3.51
2021Detailed filing. Detailed filing data is available for this year.$21.5$10.9$10.6$11.3$2.10$9.19
2020Detailed filing. Detailed filing data is available for this year.$12.0$9.91$2.05$1.70$1.71$0.01
2019Detailed filing. Detailed filing data is available for this year.$11.5$9.43$2.05$1.95$1.85$0.09
2018Detailed filing. Detailed filing data is available for this year.$13.7$11.7$1.96$3.63$2.89$0.75
2017Detailed filing. Detailed filing data is available for this year.$13.3$12.1$1.22$2.79$2.66$0.13
2016Detailed filing. Detailed filing data is available for this year.$13.3$12.2$1.15$2.53$2.59$0.06
2015Detailed filing. Detailed filing data is available for this year.$13.7$12.5$1.22$2.86$3.09$0.23
2014Summary only. Only limited summary data is available for this year.$13.3$11.8$1.52$3.30$3.25$0.05
2013Summary only. Only limited summary data is available for this year.$13.2$11.8$1.47$3.56$3.27$0.30
2012Summary only. Only limited summary data is available for this year.$11.8$10.6$1.17$5.41$6.30$0.90