RURAL ELECTRIC ECONOMIC DEVELOPMEN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

RUSSELL GALL

Phone

6052564536

Tax Period

2023-01-01 to 2023-12-31

RURAL ELECTRIC ECONOMIC DEVELOPMENT INC, founded in 1997, is a community nonprofit in the Community Improvement sector that reported $2.3M in total revenue in fiscal year 2023. The organization ran a surplus of $1.4M, a strong 62% operating margin.

Mission

TO PROVIDE FINANCING AND LEVERAGE INVESTMENTS IN COMMUNITIES IN RURAL AREAS TO MAKE A DIFFERENCE IN THE REGION.

Program Service Accomplishments

Program 1

Expenses: $583,101 Revenue: $1,209,050

RURAL ELECTRIC ECONOMIC DEVELOPMENT (REED) PROVIDES GAP FINANCING (LOANS) TO COMMUNITY, BUSINESS AND VALUE-ADDED AGRICULTURE PROJECTS TO SUPPORT START-UP AND EXPANSION, LEAD TO JOB CREATION AND...

RURAL ELECTRIC ECONOMIC DEVELOPMENT (REED) PROVIDES GAP FINANCING (LOANS) TO COMMUNITY, BUSINESS AND VALUE-ADDED AGRICULTURE PROJECTS TO SUPPORT START-UP AND EXPANSION, LEAD TO JOB CREATION AND RETENTION, AND CREATE A BASIS FOR SUSTAINING AND GROWING RURAL COMMUNITIES. REED HAS MADE 405 LOANS TOTALING OVER $128 MILLION, WHICH HAS RESULTED IN A TOTAL INVESTMENT OF OVER $1.01 BILLION SINCE 1997. IN ADDITION, OVER 10,000 JOBS HAVE BEEN CREATED AND RETAINED. 80% OF REED'S LENDING IS IN COMMUNITIES OF FEWER THAN 5,000 PEOPLE AND 98% OF LOANS ARE TO LOCALLY OWNED PROJECTS, ENSURING THAT PROFITS STAY IN THE COMMUNITY TO HELP MAINTAIN VITAL SERVICES AND ASSIST CONTINUED BUSINESS GROWTH AND SUSTAINABILITY. OUR FUTURE NEEDS HEALTHY COMMUNITIES AND BUSINESSES TO FUEL THE ECONOMY.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,003,356

Program Service Revenue $1,209,050

Investment Income $85,158

Other Revenue $0

TOTAL REVENUE $2,297,564

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $583,101

Other Expenses $867,448

TOTAL EXPENSES $867,448

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,297,564	$2,362,102	0.0%
Expenses	$867,448	$832,149	+0.0%
Net Income	$1,430,116	$1,529,953	-0.1%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS LARSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
RUSSELL GALL	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
DEEANNE NORRIS	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRIS STUDER	TREASURER	1.00	Officer Director	$0	$0	$0
CHAD FELDERMAN	DIRECTOR	1.00	Director	$0	$0	$0
TIM MCINTYRE	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW HOTZLER	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE HORST	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MOORE	DIRECTOR	1.00	Director	$0	$0	$0
TIM O'LEARY	DIRECTOR	1.00	Director	$0	$0	$0
JORDAN LAMB	DIRECTOR	1.00	Director	$0	$0	$0
BRAD SCHARDIN	DIRECTOR (UNTIL JULY 23)	1.00	Director	$0	$0	$0
CHAD KINSLEY	DIRECTOR (AS OF JULY 23)	1.00	Director	$0	$0	$0
DALE SCHWAGEL	DIRECTOR (UNTIL MAR 23)	1.00	Director	$0	$0	$0
JEREMY HUHNSTOCK	DIRECTOR (AS OF MAR 23)	1.00	Director	$0	$0	$0
MATT KLEIN	DIRECTOR	1.00	Director	$0	$0	$0
CHAR HAGER	DIRECTOR	1.00	Director	$0	$0	$0
DAVE EIDE	DIRECTOR	1.00	Director	$0	$0	$0
TIM MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
EVAN BUCKMILLER	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER STRYHN	DIRECTOR	1.00	Director	$0	$0	$0
KEN SCHLIMGEN	DIRECTOR	1.00	Director	$0	$0	$0
DICK JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
JAY SPAANS	DIRECTOR	1.00	Director	$0	$0	$0
RON HORMAN	DIRECTOR	1.00	Director	$0	$0	$0
DAVE PAGE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF BIRKELAND	DIRECTOR	1.00	Director	$0	$0	$0
LUKE JOHNSON	DIRECTOR (AS OF APR 23)	1.00	Director	$0	$0	$0
MIKE JASPERS	ADMINISTRATOR	10.00	Officer	$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	$2,297,564	$867,448	$48,911,241	$1,430,116
2022	$2,362,102	$832,149	$46,728,426	$1,529,953
2021	$2,458,763	$795,972	$44,957,084	$1,662,791
2020	$3,809,917	$1,341,774	$43,569,158	$2,468,143
2019	$2,354,510	$1,055,106	$42,150,501	$1,299,404
2018	$2,097,404	$958,545	$36,256,567	$1,138,859

RURAL ELECTRIC ECONOMIC DEVELOPMENT INC