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Organizations Community Improvement & Capacity Building Rural Economic Development Center Inc.

Rural Economic Development Center Inc.

Fiscal year ending 2023. Filed on April 15, 2024.

4021 Carya Drive
Raleigh, North Carolina 27610

Rural Economic Development Center Inc. (EIN: 56-1552375) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2023 IRS Form 990 filing, Rural Economic Development Center Inc., a 501(c)(3) charitable organization, reported compensation for 12 out of 62 total employees. Among the employees shown here, the average compensation is $186,166. The highest compensated employee at Rural Economic Development Center Inc. is Jonathan Brereton with fiscal year 2023 compensation of $281,828.

Revenue, expenses, and employee compensation

Revenue

$21,387,422

Expenses

$11,713,020

Employee compensation

$4,803,797
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Jonathan Brereton
Executive Director, Thread Capital, INC
$281,828
$238,931 No related comp$42,897
Misty Herget
Chief Program Officer
$262,026
$213,639 No related comp$48,387
Patrick Woodie
President and Chief Executive Officer
$261,235
$215,074 No related comp$46,161
Armeer G Kenchen
Executive Director, Cornersquare, LLC
$217,848
$181,291 No related comp$36,557
Jalisha Richmond
Director of Lending and Client Support
$176,444
$152,378 No related comp$24,066
Todd Brantley
Vice President of Public Affairs (TO SEP '22)
$174,172
$154,500 No related comp$19,672
Julia Malinowski
SR Director, Intermediary Lending (TO DEC '22)
$174,052
$149,563 No related comp$24,489
Franklin T Roberts
CFO and Coo/Asst Treasurer (From MAR '22)
$168,586
$143,139 No related comp$25,447
Shannon O'Shea
SBC Director of Operations
$161,936
$146,306 No related comp$15,630
Brandon Rosas
Director of Finance (TO MAR '22)
$150,271
$138,821 No related comp$11,450
Joy Stewart
Director of Internal Compliance and Audit (From AP
$118,134
$105,968 No related comp$12,166
Laura Carlson
Assistant Secretary
$87,461
$72,245 No related comp$15,216

Benchmark Employee Compensation

Non-Employee Board Members

Al Bass
Board Member (From AUG '22)
Alice Schenall
Secretary
Andy Anderson
Board Member (From
Ben Knight
Board Member
Brenda Berg
Board Member
Brittany Bennett Weston
Board Member (From AUG '22)
Casey Cooper
Board Member
Debbie Hamrick
VICE Chair (TO DEC '22)
Dennis Tracz
Board Member (TO DEC '22)
Gil Wise
Board Member
Jennifer Tolle Whiteside
Board Member (From DEC '22)
Jose Alvarez
Board Member

Contractors

Johnson Lambert
Audit and Tax
$266,353
Brooks Pierce Mclendon Humphrey and Leon
Legal
$207,594
Boss Consulting
Consulting
$154,000
Onyx Audiovisual
IT Support
$141,790
Mercer
HR Consulting
$109,626

Mission Statement

THE MISSION OF THE ORGANIZATION IS TO DEVELOP, IMPLEMENT AND PROMOTE SOUND ECONOMIC STRATEGIES THAT IMPROVE THE QUALITY OF LIFE OF RURAL NORTH CAROLINIANS, WITH A SPECIAL FOCUS ON INDIVIDUALS WITH LOW TO MODERATE INCOMES AND COMMUNITIES WITH LIMITED RESOURCES.

Revisions to this organization profile

January 16, 2025:
2024 Rural Economic Development Center Inc. 990 filed
April 15, 2024:
2023 Rural Economic Development Center Inc. 990 filed
January 27, 2023:
2022 Rural Economic Development Center Inc. 990 filed

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