Rural Housing Development Corporation

EIN: 870622732 501(c)(3) Housing & Shelter

Provo, UT

Total Revenue
$6,309,735
Total Expenses
$2,203,713
Total Assets
$38,755,065
Net Assets
$22,843,923
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
UT
Principal Officer
Brad Bishop
Phone
8013752205
Tax Period
2024-10-01 to 2025-09-30

Rural Housing Development Corporation, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $6.3M in total revenue in fiscal year 2024. Revenue surged 120% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 65% operating margin.

Mission

To provide quality affordable housing opportunities to individuals and families living in Utah.

Program Service Accomplishments

Program 1
Expenses: $1,637,932 Revenue: $37,238

Accomplishments from Self-Help Homes include the following affordable Housing programs and activities: Mutual Self-Help Housing, land acquisition, land development, raising capital, homebuyer...

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Accomplishments from Self-Help Homes include the following affordable Housing programs and activities: Mutual Self-Help Housing, land acquisition, land development, raising capital, homebuyer financial funding, housing counseling, and contract management of federal Program. Self-Help Homes (SHH) assisted 48 low- and very-low-income families start to build their own homes through USDA-RD's Mutual Self-Help Housing Program. As of September 30, 2025, SHH started and/or completed 693 Self-Help single family homes with over 52,600 volunteer working hours in the Self-Help Program. In addition, SHH assisted multiple families by providing secondary construction and/or permanent mortgages or grant financing to help them purchase and construct their homes. SHH purchased and annexed County land for future development in Payson City. Ten (10) homes were also finished in Wasatch County, which is included in the total numbers listed above.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,262,882
Program Service Revenue $37,238
Investment Income $155,835
Other Revenue $4,853,780
TOTAL REVENUE $6,309,735

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,862,196
Fundraising Expenses $22,033
Program Expenses $1,637,932
Other Expenses $341,517
TOTAL EXPENSES $2,203,713

Year-over-Year Comparison

2024 2023 Change
Revenue $6,309,735 $2,866,278 +1.2%
Expenses $2,203,713 $2,148,113 +0.0%
Net Income $4,106,022 $718,165 +4.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
14
Volunteers
350

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
4
$455,903
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Scott Wyckoff President 5.00
Officer Director
$0 $0 $0
David Rowley Vice President 3.00
Director
$0 $0 $0
Lynell Smith Secretary/Treasurer 3.00
Officer Director
$0 $0 $0
Sarah Campbell Esq Trustee 3.00
Director
$0 $0 $0
Jeremy Depain Trustee 3.00
Director
$0 $0 $0
Ben Holdaway Trustee 3.00
Director
$0 $0 $0
Brad Bishop Executive Director 40.00
Officer
$235,855 $66,022 $301,877
Socorro Espinoza Accounting Mgr 40.00
Officer
$121,270 $32,756 $154,026
Geoffrey Bluth Dir. of Development 40.00
Highest
$181,184 $59,576 $240,760
Joshua Walker Dir, of Construction 40.00
Highest
$154,616 $47,212 $201,828
Jeremy Phelps Lead Construction Supervisor 40.00
Highest
$100,621 $31,788 $132,409
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 $6,309,735 $2,203,713 $38,755,065 $4,106,022
2024 $2,866,278 $2,148,113 $32,365,254 $718,165
2023 $2,315,219 $2,161,149 $33,474,837 $154,070
2022 $2,710,325 $2,214,547 $31,533,025 $495,778
2021 $4,698,505 $2,088,818 $29,754,562 $2,609,687
2020 $4,475,390 $1,906,003 $24,614,391 $2,569,387
2019 $1,829,890 $1,765,990 $18,238,427 $63,900
2018 $4,257,315 $1,607,327 $19,443,809 $2,649,988
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