Overview
What is North Dakota Rural Rehabilitation Corp?
The North Dakota Rural Rehabilitation Corp, a charitable non-profit organization based in Bismarck, North Dakota, is dedicated to providing low-interest rate loans to distressed farm families in the state who may struggle to obtain financing otherwise. Operating with a total of 4 employees, the corporation works closely with the Farm Service Agency (FSA) to offer real estate loans to farmers and ranchers unable to secure conventional credit. These loans can involve refinancing existing first mortgage loans with high interest rates, as well as purchasing land. As of the current year, the corporation had approximately 190 loans outstanding, totaling over $29 million. The North Dakota Rural Rehabilitation Corp's primary mission is to support the development, rehabilitation, and enhancement of economic, educational, social, infrastructure, and public safety opportunities in rural North Dakota communities, ultimately improving the quality of life for low-income farmers, ranchers, and other rural residents.
Is North Dakota Rural Rehabilitation Corp legitimate?
North Dakota Rural Rehabilitation Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. North Dakota Rural Rehabilitation 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: $187,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $144,917
For more financial information, click here
What is the mission statement of North Dakota Rural Rehabilitation Corp?
The North Dakota Rural Rehabilitation Corp is a charitable organization that aims to provide low-interest loans and grants to qualifying farmers, ranchers, cooperatives, non-profit entities, and public entities. Its primary objective is to assist in the development, rehabilitation, and enhancement of economic, educational, social, infrastructure, and public safety opportunities in their individual operations and rural communities. This is done in a manner that improves the quality of life for low-income farmers, ranchers, and other low-income rural residents, aligning with its corporate authority. The corporation's activities are geared towards supporting the betterment of rural North Dakota communities.
Who is the CEO of North Dakota Rural Rehabilitation Corp?
William Fortier is the President of North Dakota Rural Rehabilitation Corp.
What is the revenue of North Dakota Rural Rehabilitation Corp?
North Dakota Rural Rehabilitation Corp's revenue in 2023 was $11,583,662.
Who are the executives of North Dakota Rural Rehabilitation Corp and what are their salaries?
The average compensation at North Dakota Rural Rehabilitation Corp during 2023 was $83,104. There are 4 employees at North Dakota Rural Rehabilitation Corp.
Here are 8 key members and their salaries:
- Compensation: $72,552
- Related: $0
- Other: $0
- Compensation: $65,188
- Related: $0
- Other: $0
- Compensation: $32,402
- Related: $0
- Other: $0
- Compensation: $15,950
- Related: $0
- Other: $0
- Compensation: $18,700
- Related: $0
- Other: $0
- Compensation: $18,950
- Related: $0
- Other: $0
- Compensation: $13,200
- Related: $0
- Other: $0
- Compensation: $110,370
- Related: $0
- Other: $0
Where can I find the form 990 for North Dakota Rural Rehabilitation Corp?
North Dakota Rural Rehabilitation Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of North Dakota Rural Rehabilitation Corp
The North Dakota Rural Rehabilitation Corp is a charitable non-profit organization with a mission to provide low-interest rate loans and grants to distressed farm families in the state of North Dakota who lack alternative financing options. This corporation is committed to aiding qualified North Dakota farmers, ranchers, cooperatives, non-profit, and public entities. Their primary objective is to assist in the development, rehabilitation, and enhancement of economic, educational, social, infrastructure, and public safety opportunities in their individual operations and rural North Dakota communities. This endeavor aims to improve the quality of life for low-income farmers, ranchers, and other low-income rural residents, all while aligning with its corporate authority.
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Impact
October, 2024
The North Dakota Rural Rehabilitation Corp (NDRRC) plays a vital role in supporting distressed farm families throughout North Dakota by providing low-interest rate loans. These financial resources enable farmers and ranchers who struggle to obtain conventional credit to enhance their operations and stabilize their livelihoods.
By partnering with the Farm Service Agency (FSA), NDRRC facilitates real estate loans for borrowers, ensuring they can secure the necessary funding while maintaining manageable repayment terms. This assistance is critical for those refinancing existing high-interest loans that jeopardize their cash flow. With around 190 loans currently outstanding, amounting to over $29.6 million, the NDRRC directly impacts the economic stability and sustainability of rural communities.
Additionally, NDRRC not only focuses on loan provision but also aims to improve the overall quality of life for low-income farmers and ranchers. Their commitment extends to enhancing economic, educational, social, and public safety opportunities, ultimately fostering greater community resilience in rural North Dakota. Through its focused efforts, NDRRC contributes significantly to the development and rehabilitation of the agricultural sector, ensuring that those in financial distress have the support they need to thrive.
This information is meant to be a general summary of North Dakota Rural Rehabilitation 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 2023.
- Investment Income: $654,240
- Program Service Revenue: $1,644,688
- Gross Receipts: $11,583,662
Assets and Liabilities:
- Total Assets: $82,220,993
- Total Liabilities: $78,104
- Net Assets: $82,142,889
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW-INT. LOAN INCOME
Revenue
$1,644,688
Organization Details
Founding Year
1934
Phone
(701) 223-5810Principal Officer
William Fortier
Main Address
222 SOUTH 12TH STREET, BISMARCK, ND, 58504
NTEE Category
Code: E50 - Health
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