NonprofitsRural Economic Development Center Inc

Community Improvement

Rural Economic Development Center Inc

RALEIGH, NC

Total revenue

$60.7M

Total expenses

$13.1M

Net assets

$160.7M

Grants received

$103.3M

43 grants

EIN

561552375

Tax year

2023

Mission

Develop, promote, and implement sound economic strategies in rural north carolina

Programs

2 programs

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 1,600 rural leaders. The rural summit brings together community leaders, policymakers, and rural advocates from across the state and nation to engage in a thoughtful, intentional dialogue about the actions we can take today to advance policy and systems change across a broad spectrum of rural development issues. Finally, through our connect church and community connect programs, we locate the powerful intersection between rural church assets and community opportunities.

Expenses: $1.9MGrants: $140K

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.

Expenses: $788KGrants: $164

Financials

FY 2023

Revenue

Contributions & grants$49.9M
Program service revenue$628K
Investment income$9.4M
Other revenue$792K
Total revenue$60.7M

Expenses

Grants paid$2.3M
Salaries & benefits$5.4M
Fundraising$155K
Other expenses$5.4M
Total expenses$13.1M
Total assets$247.4M
Net assets$160.7M

People

35 listed

NameRoleCompensation

PATRICK WOODIE

PRESIDENT & CEO

Board

$250K

40 hrs/wk

JONATHAN BRERETON

EXEC DIR, THREAD CAPITAL (TO AUG '23)

Board

$237K

20 hrs/wk

FRANKLIN T ROBERTS

CFO/ASST TREASURER

Board

$198K

40 hrs/wk

JOY STEWART

DIR OF INTERNAL COMPLIANCE AND AUDIT

Board

$157K

40 hrs/wk

CAROLYN RHODES

COO (FROM JUL '23)

Board

$112K

40 hrs/wk

LAURA CARLSON

ASSISTANT SECRETARY

Board

$80K

40 hrs/wk

ANNE FAIRCLOTH

BOARD MEMBER (FROM JAN '24)

Board

1 hrs/wk

RANDY GORE

BOARD MEMBER (FROM JAN '24)

Board

1 hrs/wk

MIKE HAWKINS

BOARD MEMBER

Board

1 hrs/wk

RANDOLPH KEATON

BOARD MEMBER

Board

1 hrs/wk

BEN KNIGHT

BOARD MEMBER

Board

1 hrs/wk

NELLE HOTCHKISS

CHAIR (TO DEC '23)

Board

1 hrs/wk

KIM SHEPHERD

BOARD MEMBER

Board

1 hrs/wk

BRITTANY BENNETT WESTON

BOARD MEMBER

Board

1 hrs/wk

GIL WISE

BOARD MEMBER

Board

1 hrs/wk

WEYLING WHITE

BOARD MEMBER

Board

1 hrs/wk

JENNIFER TOLLE WHITESIDE

BOARD MEMBER

Board

1 hrs/wk

ALICE SCHENALL

BOARD MEMBER

Board

1 hrs/wk

PHIL MARION

CHAIR

Board

1 hrs/wk

SARA CHESTER

VICE-CHAIR

Board

1 hrs/wk

YOLANDA TAYLOR

SECRETARY

Board

1 hrs/wk

PAULA BENSON

TREASURER

Board

1 hrs/wk

JOSE ALVAREZ

BOARD MEMBER

Board

1 hrs/wk

RYAN AMMANN

BOARD MEMBER

Board

1 hrs/wk

ANDY ANDERSON

BOARD MEMBER

Board

1 hrs/wk

DR ZACHARY BARRICKLOW

BOARD MEMBER (FROM JAN '24)

Board

1 hrs/wk

AL BASS

BOARD MEMBER

Board

1 hrs/wk

BRENDA BERG

BOARD MEMBER (TO DEC '23)

Board

1 hrs/wk

CASEY COOPER

BOARD MEMBER

Board

1 hrs/wk

MISTY HERGET

CHIEF PROGRAMS OFFICER

Staff

$204K

40 hrs/wk

ARMEER G KENCHEN

EXEC DIR, CORNERSQUARE LLC

Staff

$185K

40 hrs/wk

SHANNON O'SHEA

SBC DIR OF OPERATIONS

Staff

$137K

40 hrs/wk

JALISHA RICHMOND

DIR OF LENDING AND CLIENT SUPPORT

Staff

$137K

40 hrs/wk

JUVON LEGARE-RIVERS

PRODUCT MANAGER

Staff

$133K

40 hrs/wk

DANIEL MICHAEL

CONTROLLER

Staff

$126K

40 hrs/wk

Independent contractors

INTELLECTUAL CURRENCY LLC

PROGRAM CONSULTING & MANAGEMENT SERVICES

$710K

ORION FIRST

LOAN SERVICING SERVICES

$227K

WYRICK ROBBINS YATES AND PONTON LLP

LEGAL SERVICES

$185K

BROOKS PIERCE MCLENDON HUMPHREY AND LEON

LEGAL SERVICES

$166K

JOHNSON LAMBERT

AUDIT AND TAX SERVICES

$164K

Grants received

Showing 43 of 43

FromAmountPurposeYear
$237K
CAPACITY BUILDING SUPPORT FOR LOCAL GOVERNMENTS IN ACCESSING BROADBAND FUNDING.
2024
$125K
GENERAL OPERATING SUPPORT FOR ADVOCACY EFFORTS.
2024
$100K
FOR GENERAL OPERATING SUPPORT
2024
$55K
TO BE IMPACT WORK WITH RADIATE WORKS
2024
$50K
IT UPGRADES AND MODERNIZATION
2024
$30K
ECONOMIC DEVELOPMENT ASSISTANCE
2024
$20K
RURAL LEADERSHIP TRAINING FOR UNDERPRIVILEGED RURAL RESIDENTS IN WESTERN NC.
2024
$1.3M
THRIVING CONGREGATIONS INITIATIVE
2023
$818K
COLLABORATIVE BROADBAND INITIATIVE.
2023
$445K
PROPERTY CARE; BUILDINGS; RENOVATION
2023
$100K
FOR GENERAL OPERATING SUPPORT
2023
$50K
HOMEGROWN LEADERS PROGRAM IN EASTERN NC
2023
$20K
ECONOMIC DEVELOPMENT ASSISTANCE
2023
$13K
CHARITABLE DONATION
2023
$7K
SEE PART IV
2023
$349K
SUPPORT FOR EXPANSION OF THE NC SMALL BUSINESS COALITION WITH A TARGETED FOCUS ON REACHING BIPOC ENTREPRENEURS. 202203-12121
2022
$128K
SEE PART IV
2022
$100K
FOR GENERAL OPERATING SUPPORT
2022
$20K
ECONOMIC DEVELOPMENT ASSISTANCE
2022
$406K
TO BUILD THE CAPACITY OF RURAL CONGREGATIONS FOR COMMUNITY ECONOMIC DEVELOPMENT.
2021
$100K
TO SUPPORT THE CHARITABLE MISSION & CAPITAL PROJECTS OF THE RECIPIENT ORGANIZATION
2021
$100K
TO PROVIDE COMMUNITY DEVELOPMENT GRANTS TO RURAL CONGREGATIONS THAT HAVE COMPLETED RURAL CENTER TRAINING.
2021
$100K
FOR GENERAL OPERATING SUPPORT
2021
$15K
ECONOMIC DEVELOPMENT ASSISTANCE
2021
$12K
DONOR-RECOMMENDED, COMMUNITY & ECONOMIC DEVELOPMENT
2021
$78.1M
SEE PART IV
2020
$20M
1 GRANT(S) FOR VARYING PURPOSES
2020
$125K
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
2020
$100K
FOR GENERAL OPERATING SUPPORT
2020
$80K
Wellness outreach activities
2020
$48K
CHILDHOOD OBESITY
2020
$35K
CIVIL RIGHTS, SOCIAL ACTION, ADVOCACY
2020
$15K
GENERAL OPERATING SUPPORT
2020
$15K
ECONOMIC DEVELOPMENT ASSISTANCE
2020
$14K
CIVIL RIGHTS, SOCIAL ACTION, ADVOCACY
2020
$5K
PROGRAM SUPPORT
2020
$40K
Access to Healthcare
2019
$5K
FUNDING IS AWARDED TO SUPPORT THE RESEARCH AND DEVELOPMENTOF A BOOK ON LIFE IN RURAL NORTH CAROLINA
2019
$40K
Wellness outreach activities
2018

Funded by

$103.3M from 23 funders · 43 grants · 2018–2024

The Golden Leaf Inc

$78.2M · 3 grants · 2020–2023

The Winston-Salem Foundation

$20M · 1 grant · 2020

Lilly Endowment Inc

$1.3M · 1 grant · 2023

Dogwood Health Trust

$1.2M · 4 grants · 2023–2024

The Duke Endowment

$506K · 2 grants · 2021

Z Smith Reynolds Foundation Inc

$500K · 5 grants · 2020–2024

Ewing Marion Kauffman Foundation

$474K · 2 grants · 2020–2022

Fidelity Foundation

$445K · 1 grant · 2023

Details

EIN561552375
NTEE codeS320
Subsection03
Ruling date1987-04
Formed1987
Employees68
Volunteers23
RURAL ECONOMIC DEVELOPMENT CENTER INC — Mission, Financials & Grants Received | Grantivo