Valley Development Initiatives
- Assets
- $7.3m
- Revenue
- $336.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Salem, OR
- Founding
- 06/1995
- Data as of
- 06/2021
- EIN
- 93-1138243
Organization Overview
Valley Development Initiatives is located in Salem, OR. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Development Initiatives is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Valley Development Initiatives generated $336.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $375.4k during the year ending 06/2021. While expenses have increased by 13.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRINCIPAL PURPOSE OF THIS CORPORATION SHALL BE TO ACT AS AN INTERMEDIARY BORROWER/RELENDER WITHIN THE SCOPE OF CERTAIN "INTERMEDIARY RELENDING PROGRAMS" ESTABLISHED BY THE U.S. DEPARTMENT OF AGRICULTURE, RURAL DEVELOPMENT, AND THE U.S. SMALL BUSINESS ADMINISTRATION; AS A LENDER OF OTHER PUBLIC FUNDS SUCH AS THOSE MADE AVAILABLE UNDER THE RURAL BUSINESS ENTERPRISE GRANT PROGRAM ESTABLISHED BY RURAL DEVELOPMENT AND FUNDS THAT MAY BE DERIVED FROM OTHER PUBLIC AGENCIES TO ACCOMPLISH SIMILAR GOALS, AND PROVIDE AFFORDABLE HOUSING THAT IS DECENT, SAFE, AND SANITARY FOR LOW-INCOME FAMILIES, TO CARRY OUT A NEIGHBORHOOD REVITALIZATION OR COMMUNITY ECONOMIC DEVELOPMENT, AND TO CONTRACT WITH AN APPROPRIATE POLITICAL SUBDIVISION ("A PUBLIC BODY" AS DEFINED IN ORS 30.620) OF THE STATE OF OREGON TO ADMINISTER SUCH PROGRAM IN THE NAME OF THIS CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOANS TO SMALL BUSINESSES LOCATED IN RURAL COMMUNITIES OF CLACKAMAS, MARION, POLK, AND YAMHILL COUNTIES IN OREGON. NO LOANS WERE MADE DURING THE FISCAL YEAR AND AS OF JUNE 30, 2021, EIGHTEEN LOANS WERE OUTSTANDING. IN ADDITION, STAFF ASSISTED TWELVE HOMEOWNERS WITH OVER $100,000 IN LOW INTEREST LOANS THROUGH THE TRADITIONAL HOUSING REHABILITATION LOAN PROGRAM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Joyce President | OfficerTrustee | 1 | $0 |
Tom Pessemier Secretary | OfficerTrustee | 1 | $0 |
Derik Munns Vice President | OfficerTrustee | 1 | $0 |
Renata Chmielowski Program Director | Officer | 2 | $0 |
Nancie Rogers Director | Trustee | 1 | $0 |
Truman Stone Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $332,580 |
| Investment income | $4,355 |
| 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 | $336,935 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $195,026 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,023 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,797 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,869 |
| All other expenses | $0 |
| Total functional expenses | $375,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,152,576 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,091 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,139,374 |
| Intangible assets | $0 |
| Other assets | $955,388 |
| Total assets | $7,257,429 |
| Accounts payable and accrued expenses | $5,986 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,305,632 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $75,998 |
| Total liabilities | $1,387,616 |
| Net assets without donor restrictions | $5,869,813 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,257,429 |
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