RURAL ECONOMIC DEVELOPMENT CENTER INC (EIN 561552375) - Form 990 Financial Analysis & Trantor Score

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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

1987

Legal Domicile

Principal Officer

PATRICK WOODIE

Phone

9192504314

Tax Period

2024-07-01 to 2025-06-30

RURAL ECONOMIC DEVELOPMENT CENTER INC, founded in 1987, is a mid-sized nonprofit in the Community Improvement sector that reported $70.0M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $58.3M, a strong 83% operating margin.

Mission

WE CHAMPION RURAL NORTH CAROLINA BY INVESTING IN PEOPLE, COMMUNITIES AND POTENTIAL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $56,236,894

Program Service Revenue $494,903

Investment Income $12,981,246

Other Revenue $268,291

TOTAL REVENUE $69,981,334

Expense Breakdown

Grants Paid $2,509,353

Salaries & Benefits $4,934,667

Fundraising Expenses $97,608

Program Expenses $9,010,664

Other Expenses $4,191,088

TOTAL EXPENSES $11,635,108

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,981,334	$60,678,534	+0.2%
Expenses	$11,635,108	$13,096,953	-0.1%
Net Income	$58,346,226	$47,581,581	+0.2%

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

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

$1,242,154

Total Directors

Key Employees

$246,541

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHIL MARION	CHAIR	1.00	Officer Director	$0	$0	$0
SARA CHESTER	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
YOLANDA TAYLOR	SECRETARY	1.00	Officer Director	$0	$0	$0
PAULA BENSON	TREASURER	1.00	Officer Director	$0	$0	$0
JOSE ALVAREZ	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN AMMANN	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDY ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
DR ZACHARY BARRICKLOW	BOARD MEMBER	1.00	Director	$0	$0	$0
AL BASS	BOARD MEMBER	1.00	Director	$0	$0	$0
CASEY COOPER	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNE FAIRCLOTH	BOARD MEMBER	1.00	Director	$0	$0	$0
LARIZA GARZON	BOARD MEMBER (FROM DEC '24)	1.00	Director	$0	$0	$0
RANDY GORE	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE HAWKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
RANDOLPH KEATON	BOARD MEMBER	1.00	Director	$0	$0	$0
BEN KNIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
ALICE SCHENALL	BOARD MEMBER (TO DEC '24)	1.00	Director	$0	$0	$0
KIM SHEPHERD	BOARD MEMBER	1.00	Director	$0	$0	$0
BRITTANY BENNETT WESTON	BOARD MEMBER	1.00	Director	$0	$0	$0
GIL WISE	BOARD MEMBER	1.00	Director	$0	$0	$0
WEYLING WHITE	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER TOLLE WHITESIDE	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICK WOODIE	PRESIDENT & CEO	40.00	Officer	$384,462	$51,084	$435,546
CAROLYN RHODES	COO	40.00	Officer	$303,879	$36,358	$340,237
FRANKLIN T ROBERTS	CFO/ASST TREASURER	40.00	Officer	$235,999	$39,310	$275,309
JOY STEWART	DIR OF INTERNAL COMPLIANCE AND AUDIT	40.00	Officer	$166,252	$24,810	$191,062
MISTY HERGET	CHIEF PROGRAMS OFFICER	40.00	Key Emp	$213,762	$32,779	$246,541
WILLIAM MITCHELL STALLINGS	CHIEF REVENUE OFFICER	40.00	Highest	$216,529	$32,825	$249,354
ARMEER G KENCHEN	EXEC DIR, CORNERSQUARE LLC	40.00	Highest	$215,112	$40,858	$255,970
DANIEL MICHAEL	CONTROLLER	40.00	Highest	$146,600	$34,865	$181,465
ANDREA BREAZEALE	DIR OF HR	40.00	Highest	$124,800	$24,213	$149,013
WILLIAM HOLMES	SR DIR OF COMMUNICATIONS	40.00	Highest	$121,693	$23,122	$144,815
JONATHAN BRERETON	EXEC DIR, THREAD CAPITAL (TO AUG '23)	20.00		$237,735	$0	$237,735

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
2025	$69,981,334	$11,635,108	$309,058,828	$58,346,226
2024	$60,678,534	$13,096,953	$247,445,307	$47,581,581
2023	$21,387,422	$11,713,020	$262,359,551	$9,674,402
2022	$11,378,133	$7,400,388	$223,566,149	$3,977,745
2021	$47,793,767	$6,129,181	$231,001,114	$41,664,586
2020	$5,989,172	$4,667,786	$91,820,049	$1,321,386
2019	$7,448,090	$8,603,886	$69,830,541	$-1,155,796
2018	$4,615,637	$3,514,107	$73,848,242	$1,101,530

RURAL ECONOMIC DEVELOPMENT CENTER INC