RURAL DEVELOPMENT FINANCE CORPORATION

EIN: 450437973

MANDAN, ND

Total Revenue
$1,061,467
Total Expenses
$221,090
Total Assets
$8,939,906
Net Assets
$8,936,673
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
ND
Principal Officer
DAVID SIGLOH
Phone
7016636501
Tax Period
2023-01-01 to 2023-12-31

RURAL DEVELOPMENT FINANCE CORPORATION, founded in 1994, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 102% from the prior year, signaling strong growth momentum. The organization ran a surplus of $840K, a strong 79% operating margin.

Mission

RDFC ENCOURAGES ECONOMIC DIVERSIFICATION AND COMMUNITY VITALITY THROUGH THE GENERATION OF FUNDING THAT SUPPORTS SUSTAINABLE ASSET BUILDING.

Program Service Accomplishments

Program 1
Expenses: $104,490 Revenue: $906,449

TO ENCOURAGE ECONOMIC DIVERSIFICATION AND REVITALIZATION OF RURAL COMMUNITIES IN NORTH DAKOTA AND ADJACENT STATES, CREATE EMPLOYMENT AND INCREASE INCOME FOR DISPLACED FARMERS AND LOW-INCOME PERSONS...

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TO ENCOURAGE ECONOMIC DIVERSIFICATION AND REVITALIZATION OF RURAL COMMUNITIES IN NORTH DAKOTA AND ADJACENT STATES, CREATE EMPLOYMENT AND INCREASE INCOME FOR DISPLACED FARMERS AND LOW-INCOME PERSONS, AND TO ENHANCE ESSENTIAL COMMUNITY SERVICES AND FACILITIES.TO ACT AS AN INTERMEDIARY LENDER AND TO DEVELOP A SUSTAINABLE REVOLVING LOAN POOL FOR RURAL DEVELOPMENT LENDING PURSUANT TO FEDERAL REGULATIONS AND STATUTES AND TO PROVIDE TECHNICAL ASSISTANCE FOR RURAL ECONOMIC DEVELOPMENT PROJECTS.TO DO ALL THINGS NECESSARY, SUITABLE, AND PROPER FOR THE ACCOMPLISHMENT OF ANY OF THE PURPOSES OR THE ATTAINMENT OF THE OBJECTIVES HEREINABOVE STATED, EITHER ALONE OR WITH OTHER CORPORATIONS, COOPERATIVES, ASSOCIATIONS, FIRMS OR INDIVIDUALS, AND TO EVERY OTHER ACT OR THING INCIDENTAL TO OR GROWING OUT OF SUCH PURPOSE.

Program 2
Expenses: $85,000

THE RDFC GRANT PROGRAM HELPED RURAL COMMUNITIES IN NORTH DAKOTA ACHIEVE ECONOMIC DIVERSIFICATION AND REVITALIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,724
Program Service Revenue $906,449
Investment Income $139,294
Other Revenue $0
TOTAL REVENUE $1,061,467

Expense Breakdown

Grants Paid $85,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $189,490
Other Expenses $136,090
TOTAL EXPENSES $221,090

Year-over-Year Comparison

2023 2022 Change
Revenue $1,061,467 $526,227 +1.0%
Expenses $221,090 $156,701 +0.4%
Net Income $840,377 $369,526 +1.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
8

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID SIGLOH PRESIDENT 4.00
Officer Director
$0 $0 $0
PAULA ANDERSON VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
DEON VILHAUER SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
MICHELLE BERRY DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER WADE DIRECTOR 0.50
Director
$0 $0 $0
CHERYL OSOWSKI DIRECTOR 2.00
Director
$0 $0 $0
ANDY WEISS DIRECTOR 1.00
Director
$0 $0 $0
ALLAN ENGH DIRECTOR 3.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,061,467 $221,090 $8,939,906 $840,377
2022 $526,227 $156,701 $8,375,287 $369,526
2021 $472,705 $155,950 $8,006,076 $316,755
2020 $891,105 $298,406 $7,689,006 $592,699
2019 $1,416,861 $162,241 $7,084,320 $1,254,620
2018 $1,086,243 $155,335 $5,829,220 $930,908
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