Rural Economic Development Center, Inc.
Rural Economic Development Center, Inc.
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About this organization
Mission
The mission of the Rural Economic Development Center is to develop, promote, and implement sound economic strategies to improve the quality of life of rural North Carolinians. The center serves the state's 80 rural counties, with a special focus on individuals with low- to moderate-incomes and communities with limited resources. Created in 1987, the center operates a multi-faceted program that serves as the state's rural policy leader and advocate, develops strategies to bring about economic and social transformation, delivers resources for rural people, businesses and communities, and equips rural leaders to succeed in the 21st century. The center is a private, non-profit organization, funded by by both public and private sources and led by a board of directors not to exceed thirty (30) members.
About
THE RURAL CENTER DELIVERS CRITICAL RESOURCES TO SUPPORT EXISTING BUSINESSES AND ENABLE THE EMERGENCE OF SUCCESSFUL, NEW ENTREPRENEURS. THE RURAL CENTER WORKS WITH INDIVIDUALS TRYING TO START OR EXPAND A SMALL BUSINESS BY CONNECTING THEM TO CAPITAL, COACHING, AND COMMUNITY RESOURCES. SMALL BUSINESSES ARE THE BACKBONE OF OUR RURAL ECONOMIES AND THE LIFEBLOOD OF OUR STATE'S SMALL TOWNS.THE RURAL CENTER BELIEVES EQUITABLE ECONOMIC GROWTH ACROSS OUR STATE DEPENDS ON SUSTAINING RURAL SMALL BUSINESSES AND NURTURING SMALL-TOWN ENTREPRENEURS. THE CENTER OPERATES A MICRO-LOAN FUND AND SEVERAL ENTREPRENEURIAL SUPPORT PROGRAMS TO FOSTER RURAL BUSINESSES. THE CENTER ALSO OPERATES THE LOAN PARTICIPATION PROGRAM AND THE CAPITAL ACCESS PROGRAM TO SUPPORT PRIVATE SECTOR CAPITAL FORMATION IN ALL 100 NORTH CAROLINA COUNTIES.
Interesting data from their 2019 990 filing
The purpose of the non-profit is outlined in the filing as “The mission of the organization is to develop, implement and promote sound economic strategies that improve the quality of life of rural north carolinians, with a special focus on individuals with low to moderate incomes and communities with limited resources.”.
When discussing its operations, they were defined as: “Conducting policy research focused on improving economic conditions,strengthening infrastructure, supporting increased entrepreneurialdevelopment, and increasing the number of jobs available in ruralareas.”.
- The state where the non-profit operates has been legally reported as NC.
- The filing indicates that the non-profit's address in 2019 is located at 4021 CARYA DRIVE, RALEIGH, NC, 27610.
- The non-profit has reported 24 employees on their form as of 2019.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,101,530.
- The organization has 22 independent voting members.
- The organization was formed in 1987.
- The organization pays $1,952,441 in salary, compensation, and benefits to its employees.
- The organization pays $147,168 in fundraising expenses.
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