Overview
What is Rei Development Corp?
Rei Development Corp, established since 2003, is a nonprofit organization based in Oklahoma. It specializes in economic development, focusing on revitalizing economically distressed areas in the state by providing investment capital through federal tax credit programs. This initiative encourages businesses to locate in these economically depressed communities, thereby expanding opportunities for local residents. The organization's activities are primarily aimed at revitalizing low-income communities in Oklahoma, contributing to the state's overall economic growth.
Official website here: www.reibusinesslending.org
Is Rei Development Corp legitimate?
Rei Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rei Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $634,578
For more financial information, click here
Official website here: www.reibusinesslending.org
What is the mission statement of Rei Development Corp?
Rei Development Corp's mission is centered around expanding opportunities for individuals in economically distressed areas. The corporation achieves this by engaging in economic development activities. They utilize federal tax credit programs to encourage businesses to establish operations in these areas. Since 2003, Rei Development Corp has revitalized low-income communities in Oklahoma by providing investment capital through the New Market Tax Credit Programs. This initiative not only revitalizes these communities but also attracts businesses to locate in economically depressed areas.
Official website here: www.reibusinesslending.org
Who is the CEO of Rei Development Corp?
Scott Dewald is the Director of Rei Development Corp. The CEO's salary of Rei Development Corp is $0 and their total compensation is $444,331.
Official website here: www.reibusinesslending.org
What is the revenue of Rei Development Corp?
Rei Development Corp's revenue in 2022 was $1,946,749.
Official website here: www.reibusinesslending.org
Who are the executives of Rei Development Corp and what are their salaries?
Here are 9 key members and their salaries (Rei Development Corp's CEO's salary is $0 and their total compensation is $444,331):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $397,576
- Other: $46,755
- Compensation: $0
- Related: $238,786
- Other: $23,599
- Compensation: $0
- Related: $231,814
- Other: $15,672
Official website here: www.reibusinesslending.org
Where can I find the form 990 for Rei Development Corp?
Rei Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.reibusinesslending.org
Learn more at the official website: www.reibusinesslending.org
Mission Statement of Rei Development Corp
Rei Development Corp, a corporation dedicated to expanding opportunities, pursues its mission by engaging in economic development activities in distressed areas of Oklahoma. Utilizing federal tax credit programs, this organization encourages businesses to establish operations in these economically challenged communities. By providing investment capital through programs like the New Market Tax Credit, Rei Development Corp revitalizes low-income communities and encourages businesses to set up shop in these economically depressed regions. This initiative ultimately aims to stimulate economic growth and development in Oklahoma's distressed areas.
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Impact
October, 2024
Rei Development Corp plays a crucial role in revitalizing economically distressed areas in Oklahoma by facilitating economic development activities that expand opportunities for local residents. Since its inception in 2003, the organization has leveraged federal tax credit programs, specifically the New Market Tax Credit Program, to provide investment capital aimed at uplifting low-income communities.
By encouraging businesses to establish themselves in these economically depressed regions, Rei Development Corp fosters job creation, stimulates economic growth, and enhances the overall quality of life for Oklahomans. Through its initiatives, the corporation not only addresses immediate financial needs but also lays the groundwork for long-term improvements in the community’s infrastructure and economic viability. The impact of Rei Development Corp is evident in its commitment to transforming distressed areas into thriving hubs of opportunity.
This information is meant to be a general summary of Rei Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $777
- Program Service Revenue: $1,945,972
- Gross Receipts: $1,946,749
Assets and Liabilities:
- Total Assets: $5,483,409
- Total Liabilities: $2,638,190
- Net Assets: $2,845,219
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$1,244,654
EXIT FEE REVENUE
Revenue
$459,000
REIMBURSEMENT INCOME
Revenue
$240,000
INCOME (LOSS) FROM INV
Revenue
$2,318
Organization Details
Founding Year
2002
Phone
(580) 924-5094Principal Officer
Scott Dewald
Main Address
PO BOX 1335, DURANT, OK, 74702
Website
www.reibusinesslending.orgNTEE Category
Code: S41 - Community improvement
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