Overview
What is Rural Development Finance Corporation?
Rural Development Finance Corporation (RDFC) is a North Dakota-based nonprofit organization dedicated to fostering economic growth and community revitalization in rural areas. Through funding, it supports the establishment and expansion of businesses and development projects, championing sustainable asset development and community vitality. In 2022, RDFC distributed grants to various rural entities, totaling $56,500. These grants served various purposes, including fire protection, youth centers, parks, hospitals, libraries, and community foundations. By providing financing, RDFC contributes to the diversification and strengthening of rural economies across North Dakota.
Is Rural Development Finance Corporation legitimate?
Rural Development Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Rural Development Finance Corporation 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.
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What is the mission statement of Rural Development Finance Corporation?
The Rural Development Finance Corporation's mission is geared towards promoting economic diversification and enhancing community vitality. They achieve this by offering financing for new or expanding businesses and community development projects. The corporation's activities are centered around generating funding that supports sustainable asset building in these rural communities. In 2022, the corporation distributed grants totalling $56,500 to various projects in various rural areas, including fire departments, community centers, libraries, and schools, among others, contributing to the overall development and revitalization of these communities.
Who is the CEO of Rural Development Finance Corporation?
David Sigloh is the President of Rural Development Finance Corporation.
What is the revenue of Rural Development Finance Corporation?
Rural Development Finance Corporation's revenue in 2022 was $526,227.
Who are the executives of Rural Development Finance Corporation and what are their salaries?
There 8 volunteers at Rural Development Finance Corporation.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Rural Development Finance Corporation?
Rural Development Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rural Development Finance Corporation
The Rural Development Finance Corporation, abbreviated as RDFC, is dedicated to promoting economic diversification and enhancing community vitality in rural areas of North Dakota. This organization achieves this mission by offering financing for new or expanding businesses and community development projects within the state. By providing such funding, RDFC encourages sustainable asset building, contributing to the overall growth and revitalization of rural communities. In 2022, RDFC granted funds to numerous organizations, including fire departments, community centers, libraries, and more, totaling a significant sum of $56,500. These grants have aided various projects, from improving infrastructure to supporting essential services, thereby fostering a more prosperous and resilient rural North Dakota.
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Impact
October, 2024
The Rural Development Finance Corporation (RDFC) has significantly influenced economic diversification and community revitalization in North Dakota. By providing targeted financing for new and expanding businesses, as well as community development projects, RDFC plays a crucial role in fostering sustainable growth in rural areas.
In 2022 alone, RDFC granted a total of $56,500 to various organizations, underscoring its commitment to enhancing community infrastructure and services. These grants supported critical projects ranging from fire department resources to health clinics, childcare facilities, and recreational parks. By addressing the unique needs of rural communities, RDFC helps to build resilient local economies and improve the quality of life for residents.
The impact of RDFC extends beyond mere financial assistance; it encourages community involvement and empowers local leaders to implement projects that reflect their specific needs and aspirations. This strategic approach not only strengthens individual organizations but also cultivates a spirit of collaboration and innovation across the region, ultimately contributing to a more vibrant and sustainable future for North Dakota's rural areas.
This information is meant to be a general summary of Rural Development Finance Corporation. 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: $45,652
- Program Service Revenue: $480,575
- Gross Receipts: $526,227
Assets and Liabilities:
- Total Assets: $8,375,287
- Total Liabilities: $0
- Net Assets: $8,375,287
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Dakotas America K-1 In
Revenue
$396,834
Loan Interest Income
Revenue
$71,987
Loan Origination Fees
Revenue
$11,754
Organization Details
Founding Year
1994
Phone
(701) 663-6501Principal Officer
David Sigloh
Main Address
3201 Nygren Drive NW PO Box 727, Mandan, ND, 585540727
NTEE Category
Code: S30 - Community improvement
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