Overview
What is Rural Resources Holding?
Rural Resources Holding is a nonprofit organization, headquartered in Colville, Washington, with the primary purpose of acquiring real estate. They hold title to these properties and generate income from them. This income, after deducting expenses and reserves approved by the Rural Resources Holding Board, is then utilized for the benefit of Rural Resources Community Action, a tax-exempt corporation under Section 501(c)(3) of the Internal Revenue Code. Essentially, Rural Resources Holding serves as a real estate investment entity, generating funds for another nonprofit organization to carry out its mission.
Is Rural Resources Holding legitimate?
Rural Resources Holding is a legitimate nonprofit organization registered as a 501(c)(25) entity. Rural Resources Holding 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: $2,500
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What is the mission statement of Rural Resources Holding?
Rural Resources Holding's mission is centered around acquiring real estate and managing the properties effectively. They hold the title to these properties and generate income from them. Significantly, they are committed to remitting a substantial portion of this income, after deducting expenses and approved reserves, for the benefit of Rural Resources Community Action, a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. This income is utilized to support the community's initiatives and projects.
Who is the CEO of Rural Resources Holding?
Barry Lamont is the Director of Rural Resources Holding.
What is the revenue of Rural Resources Holding?
Rural Resources Holding's revenue in 2021 was $156,000.
Who are the executives of Rural Resources Holding and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Rural Resources Holding?
Rural Resources Holding's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Rural Resources Holding
Rural Resources Holding, as a nonprofit organization, is dedicated to a specific mission. This mission involves the acquisition of real estate, with the intent of holding title to these properties and collecting income from them. The primary objective is not to profit from these properties personally, but rather to utilize the income generated, after accounting for expenses and reserves approved by the Rural Resources Holding Board, for the benefit of Rural Resources Community Action. This corporation, exempt from taxation under Section 501(c)(3) of the Internal Revenue Code, is the ultimate recipient of the income generated from Rural Resources Holding's real estate ventures.
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Impact
October, 2024
Rural Resources Holding significantly contributes to community improvement by acquiring real estate and managing income-generating properties. By holding title to these assets, it ensures sustainable revenue streams that directly benefit Rural Resources Community Action. This income is strategically remitted—after accounting for expenses and board-approved reserves—supporting various community initiatives and programs. The financial stability fostered through these activities enables greater investment in local resources, programs, and services that enhance the quality of life for residents in Colville, WA, and its surrounding areas. Overall, Rural Resources Holding plays a vital role in bolstering the economic foundation and advancing community development efforts.
This information is meant to be a general summary of Rural Resources Holding. 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 2021.
- Program Service Revenue: $156,000
- Gross Receipts: $156,000
Assets and Liabilities:
- Total Assets: $2,211,305
- Total Liabilities: $1,219,375
- Net Assets: $991,930
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$156,000
Organization Details
Founding Year
2013
Phone
(509) 684-3932Principal Officer
Barry Lamont
Main Address
956 S MAIN A, COLVILLE, WA, 99114
NTEE Category
Code: S470 - Community improvement
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