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
Where the money goes
88 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
27 people listed on the 990; $281K paid to officers and key staff.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| 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.
Questions for Regional Development Company
Your first name shows with your question. Regional Development Company answers here, for everyone.
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Financing was provided to 19 applicants during the fiscal year ending september 30, 2023.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $505K | $236K |
| InvestmentsLn 11–13 | $0 | $150K |
| Land, buildings, equipmentLn 10c | $490K | $451K |
| Total assetsLn 16 | $1.0M | $862K |
| LiabilitiesLn 26 | $379K | $272K |
| Net assetsLn 32 | $637K | $591K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $9K | $9K | ||
| Pay of current officers, directors and key staffLn 5 | $180K | $180K | ||
| Other salaries and wagesLn 7 | $403K | $336K | $67K | |
| Pension plan contributionsLn 8 | $27K | $24K | $3K | |
| Other employee benefitsLn 9 | $66K | $57K | $9K | |
| Payroll taxesLn 10 | $43K | $38K | $5K | |
| Legal feesLn 11b | $2K | $2K | $538 | |
| Accounting feesLn 11c | $55K | $43K | $12K | |
| Other fees for servicesLn 11g | $1K | $937 | $309 | |
| Advertising and promotionLn 12 | $25K | $22K | $3K | |
| Office expensesLn 13 | $21K | $19K | $3K | |
| Information technologyLn 14 | $29K | $25K | $3K | |
| OccupancyLn 16 | $39K | $38K | $1K | |
| TravelLn 17 | $8K | $7K | $1K | |
| Conferences, conventions and meetingsLn 19 | $5K | $2K | $2K | |
| InterestLn 20 | $7K | $7K | $4 | |
| Depreciation, depletion and amortizationLn 22 | $39K | $35K | $4K | |
| InsuranceLn 23 | $13K | $8K | $5K | |
| Other expenses (24a–d)Ln 24 | $22K | $20K | $2K | |
| All other expensesLn 24e | $4K | $4K | ||
| Total functional expensesLn 25 | $1000K | $876K | $123K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $1.1M | $1.0M | $26K | $617K | 990 PDF |
| FY2023 Viewing | $953K | $1000K | −$47K | $591K | 990 PDF |
| FY2022 | $931K | $976K | −$45K | $637K | 990 PDF |
| FY2021 | $898K | $980K | −$82K | $682K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $953,170 revenue, 12 lines filed
Part VI · Governance 25 of 25 board members independent, no flags
Part VIII · Statement of revenue $953,170 across 5 lines filed
Part IX · Statement of functional expenses $999,702 across 20 lines filed
Part X · Balance sheet $862,160 assets, 13 lines filed
Part XI · Reconciliation of net assets $590,622 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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