Rural Nevada Development Corporation
- Assets
- $32.6m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 13
- Location
- Ely, NV
- Founding
- 08/1992
- Data as of
- 06/2024
- 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 06/2024, Rural Nevada Development Corporation employed 13 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 06/2024, Rural Nevada Development Corporation generated $5.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $2.9m during the year ending 06/2024. While expenses have increased by 1.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2024
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.
OTHER PROGRAM SERVICES - MULTI-FAMILY HOUSING INITIATIVE TO PROVIDE AFFORDABLE HOUSING TO QUALIFYING LOW-INCOME TENANTS.
THE INTERMEDIARY RELENDING PROGRAM PROVIDED LOANS TO RURAL BUSINESSES WHO HAVE NOT BEEN ABLE TO OBTAIN LOANS FROM COMMERCIAL LENDERS.
HOUSING WEATHERIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Martin Chair | Trustee | 5 | $0 |
Trish Rippie 1st Vice Chair | Trustee | 2 | $0 |
Joni Eastley 2nd Vice Chair | Trustee | 2 | $0 |
Kenna Almberg Sec./treas | Trustee | 1 | $0 |
Danny Benson Director | Trustee | 1 | $0 |
Kathy Halbardier Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,682,568 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,429,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,112,161 |
| Total Program Service Revenue | $350,745 |
| Investment income | $1,104,822 |
| 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 | $5,567,728 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $158,410 |
| Compensation of current officers, directors, key employees. | $41,230 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $487,935 |
| Pension plan accruals and contributions | $13,440 |
| Other employee benefits | $72,665 |
| Payroll taxes | $54,102 |
| Fees for services: Management | $29,376 |
| Fees for services: Legal | $525 |
| Fees for services: Accounting | $34,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,246 |
| Advertising and promotion | $187,774 |
| Office expenses | $11,107 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,238 |
| Travel | $10,884 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $184,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,587 |
| Insurance | $49,386 |
| All other expenses | $34,711 |
| Total functional expenses | $2,887,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $642,839 |
| Savings and temporary cash investments | $5,177,358 |
| Pledges and grants receivable | $416,022 |
| Accounts receivable, net | $76,216 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $23,941,792 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,199 |
| Net Land, buildings, and equipment | $336,891 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,038,492 |
| Total assets | $32,634,809 |
| Accounts payable and accrued expenses | $195,424 |
| Grants payable | $0 |
| Deferred revenue | $651,213 |
| 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 | $12,730,820 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,481 |
| Total liabilities | $13,646,938 |
| Net assets without donor restrictions | $1,311,141 |
| Net assets with donor restrictions | $17,676,730 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $32,634,809 |