Regional Development Authority

Claimed by Kelsey Walter
EIN 42-1347125 Membership association Davenport, IA
Form 990 (PDF)

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Revenue & expenses by yearFY2021–FY2025
Revenue
$7.1M
FY2025▼ -1%
Expenses
$6.0M
FY2025▼ -3%

Form 990 for the fiscal year ending June 2025 (IRS tax year 2024).


Awards grants to community agencies for charitable purposes. For fiscal year 2025 it reported $7.1M in revenue, $6.0M in expenses, and $7.0M in net assets.Pt I

From the organization · Kelsey Walter
RDA is the non-profit license holder and Qualified Sponsoring Organization for Rhythm City Casino Resort in Davenport, IA, using casino gaming funds to award community grants. Grants go to qualified nonprofits, educational, and governmental entities, with applications accepted each spring and fall.
Founded
1990
Type
Membership association · Nonprofit
Location
Davenport, IA
Website
Www.rdauthority.org
Filings
5 on file (2021–2025)
Revenue
$7.1MFY2025
Expenses
$6.0M
Net assets
$7.0M
People
16
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Figures match the IRS filing checked 8/17/26 · see original: IRS
Provided by the organization

The Regional Development Authority strategically funds initiatives to create a vibrant, inclusive, and growing community.

RDA is the non-profit license holder and Qualified Sponsoring Organization for Rhythm City Casino Resort in Davenport, IA, using casino gaming funds to award community grants. Grants go to qualified nonprofits, educational, and governmental entities, with applications accepted each spring and fall.

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  • Email
  • Phone
  • Mailing address5403 Victoria Ave, 300 Davenport IA 52807
Size
$1–10M
What they do
Awards grants to community agencies for charitable purposes.
Leadership
Matt Mendenhall · President & CEO · $159K
Money in and out
$7.1M revenue, $6.0M expenses
Bottom line
+15% operating surplus

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

WARNING

No — not deductible

IRS records this as a A social-welfare organization or civic league. Contributions are generally not tax-deductible.; contributions are not deductible as charitable gifts. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Quad Cities Community Foundation

1 distinct foundation funder(s) on file, $7K received in the most recent year with grants. See detail →

How is the money spent?

GOOD

94% to programs

94% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$1–10M · ↓ -1% vs prior year

Revenue band $1–10M, -1% versus the prior filing year (down). See detail →

Membership & operating revenue · FY2025
Total revenue
$7.1M
Pt VIII · Ln 12
Total expenses
$6.0M
Pt IX · Ln 25
Net assets
$7.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.1M
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06
Operating surplus
+15%
revenue over expenses▲ +14% vs prior filing year
Earned revenue
90%
of revenue from program services & dues▼ -1% vs prior filing year
Payroll share
4%
of spending is salaries & benefits▲ +11% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$7.4M
FY2025▲ +17%
Total liabilities
$412K
FY2025▲ +1%
Revenue less expensesPt I · Ln 19$1.1M
Total assetsPt X · Ln 16$7.4M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CRegional Development Authority
EINHdr · item D42-1347125
Principal addressHdr · item CDavenport, IA
WebsiteHdr · item JWww.rdauthority.org
Year of formationHdr · item L1990
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFApr 1998

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President & CEO
$159,365Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Matt Mendenhall$159,365$162,513$154,046$132,383$129,538

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.

See Regional Development Authority executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $5.7M of program spending, described in the organization's own filed words · FY2024.
01

Provided support to organizations qualified to receive funds into the following categories: riverfront development, neighborhood development, economic development, culture, heritage, and education.

$5.7Mprogram expense

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Statement of Revenue

Part VIII
Program service revenue$6.4M · 90%
Investment income$734K · 10%
Program service revenue90%$6.4M
Investment income10%$734K
Total revenueLn 12$7.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$5.7M
Management & general6%$348K
Total functional expensesLn 25$6.0M

Balance Sheet

Part X · end of year
CashLn 1$330K
Total assetsLn 16$7.4M
Total liabilitiesLn 26$412K
Total net assetsLn 32$7.0M
Months of cash on handcomputed0.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $330K · Operating expenses/yr $6.0M
0.7 months
Where the money goes
Program services
Program services $5.7M · Total expenses $6.0M
94%
Management & General
Management & general $348K · Total expenses $6.0M
6%
Fundraising
Fundraising $0 · Total expenses $6.0M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $7.1M
0%
Government reliance
Government grants — · Total revenue $7.1M
—
Earned-income share
Program service revenue $6.4M · Total revenue $7.1M
90%
Investment reliance
Investment income $734K · Total revenue $7.1M
+10%
Program self-sufficiency
Program service revenue $6.4M · Total expenses $6.0M
106%
Growth & trend
Revenue growth (YoY)
This year $7.1M · Prior year $7.2M
-1%
Revenue CAGR
FY2020 $7.2M · FY2024 $7.1M
-0.3%
Net-asset trend (YoY)
End of year $7.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $7.1M · Expenses $6.0M
+15%
Liabilities-to-Assets
Total liabilities — · Total assets $7.4M
—
Net-asset ratio
Net assets $7.0M · Total assets $7.4M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $7.4M
0%
People & payroll
Highest Reported Total Compensation
Individual Matt Mendenhall · Reported title President & CEO · Highest reported compensation $159K · Total expenses $6.0M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $225K · Total expenses $6.0M
4%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%——
Overhead ratio 6%——
Revenue growth -1%——
Investment management fee ratio 0.7%——
Legal fee ratio <0.01%——
Accounting fee ratio 0.3%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$7K
Grants paid · 5 grants · $28.9M · 2020–2024
See Attached List of GranteesFY2024$5,696,237
See Attached List of GranteesFY2023$5,956,627
See Attached List of GranteesFY2022$6,356,236
See Attached List of GranteesFY2021$6,012,779
See Attached List of GranteesFY2020$4,840,964

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$7.1M revenue · viewing · ⤓ 990 PDF
FY2024$7.2M revenue · ⤓ 990 PDF
FY2023$7.9M revenue · ⤓ 990 PDF
FY2022$7.1M revenue · ⤓ 990 PDF
FY2021$7.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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