Overview
What is Rainier Valley Community Development Fund?
Rainier Valley Community Development Fund, based in Seattle, Washington, serves as a catalyst for economic development in the Rainier Valley area of Southeast Seattle. As a trustee for a revolving loan fund provided by the city and additional loan capital, the organization advances funds, approximating $4.4 million for business and real estate loans in 2022. This nonprofit aims to promote diversity and livability within the Rainier Valley community by utilizing its resources for community development activities in specified areas, as outlined in the trust document. With a team of seven dedicated individuals, Rainier Valley Community Development Fund plays a significant role in fostering economic growth and improvement in the local community.
Official website here: www.rvcdf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating.
The Rainier Valley Community Development Fund has achieved a remarkable 96% score, reflecting strong accountability and financial health. This high rating is primarily based on their impeccable performance in financial management, with a focus on transparency and effective oversight, evidenced by a 100% independent board and a well-structured audit and oversight committee.
Strengths of the organization include a solid program expense ratio of 74.95%, indicating that a significant portion of its funding is directed towards its programs rather than administrative expenses. Additionally, the organization adheres to strong governance practices, including established conflict of interest and whistleblower policies, further enhancing its credibility and operational integrity.
While the data available does not highlight any major limitations, the focus on accountability and finance suggests that stakeholders can trust the organization’s financial practices and commitment to its mission. Overall, the Rainier Valley Community Development Fund showcases a commendable model of nonprofit governance and fiscal responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Rainier Valley Community Development Fund legitimate?
Rainier Valley Community Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rainier Valley Community Development Fund 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: $226,299
Professional Fundraising Fees: $0
Other Salaries and Wages: $165,439
For more financial information, click here
Official website here: www.rvcdf.org
What is the mission statement of Rainier Valley Community Development Fund?
The Rainier Valley Community Development Fund serves as a catalyst, promoting economic development that fosters diversity and enhances the livability of a specific area. Its mission is to stimulate economic growth, contributing to the betterment of the community. The organization acts as a trustee for a revolving loan fund, provided by the City of Seattle, and additional loan capital. This fund is exclusively utilized for community development activities, primarily in specified areas as outlined in the trust document. In 2022, the fund advanced approximately $4.4 million for business and real estate loans.
Official website here: www.rvcdf.org
Who is the CEO of Rainier Valley Community Development Fund?
Bob Luciano is the Former President of Rainier Valley Community Development Fund.
Official website here: www.rvcdf.org
What is the revenue of Rainier Valley Community Development Fund?
Rainier Valley Community Development Fund's revenue in 2022 was $1,423,079.
Official website here: www.rvcdf.org
Who are the executives of Rainier Valley Community Development Fund and what are their salaries?
The average compensation at Rainier Valley Community Development Fund during 2022 was $55,963. There are 7 employees and 8 volunteers at Rainier Valley Community Development Fund.
Here are 10 key members and their salaries:
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- Compensation: $130,963
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- Other: $3,319
- Compensation: $87,635
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- Other: $4,382
Official website here: www.rvcdf.org
Where can I find the form 990 for Rainier Valley Community Development Fund?
Rainier Valley Community Development Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rvcdf.org
Learn more at the official website: www.rvcdf.org
Mission Statement of Rainier Valley Community Development Fund
Rainier Valley Community Development Fund, abbreviated as RVCDF, serves as a catalyst for economic development in the Rainier Valley area of Southeast Seattle, Washington. Its mission is to promote diversity and livability within this community. RVCDF achieves this by acting as a trustee for a revolving loan fund, provided by the city of Seattle, and additional loan capital. This fund is specifically designed for community development activities in designated areas, as outlined in the trust document. In accordance with this agreement and additional loan capital, RVCDF advanced funds totaling approximately $4.4 million for business and real estate loans in 2022. This financial support plays a crucial role in fostering economic growth and development within the Rainier Valley community.
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Impact
October, 2024
The Rainier Valley Community Development Fund plays a crucial role in fostering economic growth and enhancing the livability of the Rainier Valley area in Southeast Seattle. By acting as a trustee for a revolving loan fund provided by the City of Seattle, it facilitates financial support targeted specifically at community development activities.
In 2022 alone, the organization advanced approximately $4.4 million in business and real estate loans, significantly contributing to local economic empowerment and diversification. This financial support helps stimulate new business ventures, improve existing local enterprises, and promote sustainable community development within the specified areas outlined in their trust document. As a catalyst for economic development, the Rainier Valley Community Development Fund works to ensure that the diverse needs of the community are met, fostering an inclusive and vibrant local economy.
This information is meant to be a general summary of Rainier Valley Community Development Fund. 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: $42,526
- Program Service Revenue: $1,144,324
- Gross Receipts: $1,423,079
Assets and Liabilities:
- Total Assets: $30,914,014
- Total Liabilities: $1,869,200
- Net Assets: $29,044,814
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,079,609
LOAN FEES
Revenue
$64,715
Organization Details
Founding Year
1999
Phone
(206) 722-5280Principal Officer
Bob Luciano
Main Address
6951 MARTIN LUTHER KING WAY S 225, SEATTLE, WA, 98118
Website
www.rvcdf.orgNTEE Category
Code: S31 - Community improvement
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