Regional Development Company FY2021 filing

Not tax-deductible

Valparaiso, IN501(c)(6)Since 1994EIN 35-1939664

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To help small businesses become aware of sba 504 loan financing.

$164K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $37K a year · 4% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Pay to officers and key staff
$164K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$493K
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$898K
Spent
$980K
Net assets
$682K
By yearFY2021–FY2024
Revenue
$898K
FY2021
Revenue by fiscal year
FY2021$898K
FY2022$931K
FY2023$953K
FY2024$1.1M
FY2024$1.2M
Expenses
$980K
FY2021
Expenses by fiscal year
FY2021$980K
FY2022$976K
FY2023$1000K
FY2024$1.0M
FY2024$1.2M
Net assets
$682K
FY2021
Net assets by fiscal year
FY2021$682K
FY2022$637K
FY2023$591K
FY2024$617K
FY2024$617K

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

24 people listed on the 990; $164K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$164,000Pt VII · Sec A
Past Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Erica Dombey$175,530$162,774$167,313$183,476$164,000
Niccole Zell$125,235$116,722$113,333——
Lisa Norman$106,557————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates small businesses about SBA 504 loan financing options.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2020.
01

Financing was provided to 44 applicants during the fiscal year ending september 30, 2021.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$898K
Ln 12
Fees for servicesLn 2g$802K
Other incomeLn 4–11$95K
Investment incomeLn 3$346
Money outPt IX
$980K
Ln 25
Owns and owesPt X
$682K
net assets · Ln 32
Cash and savingsLn 1–2$637K
Total assetsLn 16$1.2M
LiabilitiesLn 26$493K
PeoplePt VI, VII
24
listed · VII A
PaidVII A1
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$802K
Investment incomeLn 3$346
Other incomeLn 4–11$95K
Total revenueLn 12$898K
Assets in detailPt X, end of year
CashLn 1$46K
SavingsLn 2$592K
Cash and savings togetherLn 1–2$637K
Land, buildings, equipmentLn 10c$515K
Total assetsLn 16$1.2M
LiabilitiesLn 26$493K
Net assetsLn 32$682K
OperationsPt I, VI
EmployeesI 56
VolunteersI 634
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$610K$637K
Land, buildings, equipmentLn 10c$533K$515K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$401K$493K
Net assetsLn 32$764K$682K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9K
Pay of current officers, directors and key staffLn 5$179K
Other salaries and wagesLn 7$431K
Pension plan contributionsLn 8$33K
Other employee benefitsLn 9$63K
Payroll taxesLn 10$44K
Accounting feesLn 11c$12K
Other fees for servicesLn 11g$7K
Advertising and promotionLn 12$16K
Office expensesLn 13$31K
Information technologyLn 14$18K
OccupancyLn 16$50K
TravelLn 17$5K
Conferences, conventions and meetingsLn 19$3K
InterestLn 20$11K
Depreciation, depletion and amortizationLn 22$36K
InsuranceLn 23$13K
Other expenses (24a–d)Ln 24$17K
All other expensesLn 24e$2K
Total functional expensesLn 25$980K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.1M$1.0M$26K$617K 990 PDF
FY2023 $953K$1000K−$47K$591K 990 PDF
FY2022 $931K$976K−$45K$637K 990 PDF
FY2021 Viewing $898K$980K−$82K$682K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $897,575 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $801,998$801,998
VIII-3 Investment incomeExcluded from tax $346$346
VIII-6 Net rental income or lossUnrelated business $91,688$91,688
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,543$3,543
VIII-12 Total revenueRelated to mission $805,541 · Unrelated business $91,688 · Excluded from tax $346$897,575
Part IX · Statement of functional expenses $979,710 across 19 lines filed
IX-1 Grants to domestic organizations$9,100
IX-5 Pay of current officers, directors and key staff$179,042
IX-7 Other salaries and wages$431,331
IX-8 Pension plan contributions$32,607
IX-9 Other employee benefits$62,776
IX-10 Payroll taxes$44,218
IX-11c Accounting fees$11,620
IX-11g Other fees for services$6,714
IX-12 Advertising and promotion$16,192
IX-13 Office expenses$30,557
IX-14 Information technology$18,148
IX-16 Occupancy$49,933
IX-17 Travel$4,975
IX-19 Conferences, conventions and meetings$3,322
IX-20 Interest$11,017
IX-22 Depreciation, depletion and amortization$36,244
IX-23 Insurance$12,950
IX-24 Other expenses (24a–d)$17,040
IX-24e All other expenses$1,924
IX-25 Total functional expenses$979,710
Part X · Balance sheet $1,174,976 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $31,924$45,531
X-2 Savings and temporary cash investmentsStart of year $577,920$591,912
X-9 Prepaid expenses and deferred chargesStart of year $21,842$22,381
X-10c Land, buildings and equipment, netStart of year $533,191$515,152
X-16 Total assetsStart of year $1,164,877$1,174,976
X-17 Accounts payable and accrued expensesStart of year $123,028$81,655
X-19 Deferred revenueStart of year $0$151,121
X-25 Other liabilitiesStart of year $57,522$59,571
X-26 Total liabilitiesStart of year $400,863$493,097
X-32 Total net assets or fund balancesStart of year $764,014$681,879
X-33 Total liabilities and net assetsStart of year $1,164,877$1,174,976
Part XI · Reconciliation of net assets $681,879 net assets at year end
XI-1 Total revenue$897,575
XI-2 Total expenses$979,710
XI-3 Revenue less expenses−$82,135
XI-4 Net assets at start of year$764,014
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$681,879

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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