Rural Nevada Development Corporation
- Assets
- $21.5m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 11
- Location
- Ely, NV
- Founding
- 08/1992
- Data as of
- 06/2021
- EIN
- 88-0280033
Organization Overview
Rural Nevada Development Corporation is located in Ely, NV. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2021, Rural Nevada Development Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Nevada Development Corporation 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 06/2021, Rural Nevada Development Corporation generated $11.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $2.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING REHAB & DEVELOPMENT - PROVIDED FUNDING FOR REHAB TO LOW INCOME HOMEOWNERS AS DETERMINED BY DEPARTMENT OF AGRICULTURE & HUD.
THE INTERMEDIARY RELENDING PROGRAM PROVIDED LOANS TO RURAL BUSINESSES WHO HAVE NOT BEEN ABLE TO OBTAIN LOANS FROM COMMERCIAL LENDERS.
HOUSING WEATHERIZATION
OTHER PROGRAM SERVICES - MULTI-FAMILY HOUSING INITIATIVE TO PROVIDE AFFORDABLE HOUSING TO QUALIFYING LOW-INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Kerner CEO | Officer | 40 | $129,478 |
Jerry Martin Chair | Trustee | 5 | $0 |
Trish Rippie 1st Vice Cha | Trustee | 2 | $0 |
Kenna Almberg Sec./treas | Trustee | 1 | $0 |
Rachel Dahl Director | Trustee | 1 | $0 |
Joni Eastley 2nd Vice Cha | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,317,851 |
| Investment income | $549,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,283,329 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,473 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $429,459 |
| Pension plan accruals and contributions | $6,941 |
| Other employee benefits | $56,441 |
| Payroll taxes | $39,854 |
| Fees for services: Management | $29,376 |
| Fees for services: Legal | $8,873 |
| Fees for services: Accounting | $23,492 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195,482 |
| Advertising and promotion | $69,377 |
| Office expenses | $12,553 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,621 |
| Travel | $5,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $125,340 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,613 |
| Insurance | $36,750 |
| All other expenses | $0 |
| Total functional expenses | $2,097,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $467,706 |
| Savings and temporary cash investments | $3,917,498 |
| Pledges and grants receivable | $218,036 |
| Accounts receivable, net | $363 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,388,319 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,276,018 |
| Total assets | $21,547,293 |
| Accounts payable and accrued expenses | $9,918 |
| Grants payable | $0 |
| Deferred revenue | $5,188 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,845,492 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,876 |
| Total liabilities | $10,908,474 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $10,638,819 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rural Nevada Development Corporation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Nv Energy Charitable Foundation Reno, NV PURPOSE: I-80 FUND | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oak Grove Institute Foundation Inc Murrieta, CA | $29,102,821 | $23,083,215 |
Taco Bell Foundation Inc Irvine, CA | $32,895,109 | $23,910,509 |
Albina Head Start Inc Portland, OR | $22,611,624 | $19,457,720 |
Orbis Cascade Alliance Portland, OR | $8,013,554 | $17,694,791 |
Albert Einstein Academies San Diego, CA | $21,189,771 | $17,379,077 |
Prospect Sierra School El Cerrito, CA | $31,201,283 | $16,565,547 |
Options Counseling Services Of Oregon Eugene, OR | $12,586,092 | $15,957,358 |
Transitions - Mental Health Association San Luis Obispo, CA | $15,943,493 | $14,891,475 |
International Myeloma Foundation Studio City, CA | $20,383,236 | $17,434,390 |
Open Networking Foundation Palo Alto, CA | $9,261,912 | $16,468,416 |
Sonoma Valley Community Health Center Sonoma, CA | $15,645,180 | $13,937,473 |
After-School All-Stars Los Angeles, CA | $10,011,535 | $13,148,528 |