Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1987.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
77 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
33 people listed on the 990; $2.4M paid to officers and key staff.
Patrick Woodie’s $384K as President & CEO is at the 67th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Patrick Woodie | $384,462 | $250,071 | $215,074 | $178,690 | $179,028 | $165,917 |
| Carolyn Rhodes | $303,879 | $111,617 | — | — | — | — |
| Jonathan Brereton | $237,735 | $237,491 | $238,931 | $120,463 | — | — |
| Franklin T Roberts | $235,999 | $198,309 | $143,139 | — | — | — |
| William Mitchell Stallings | $216,529 | — | — | — | — | — |
| Armeer G Kenchen | $215,112 | $184,595 | $181,291 | — | — | — |
| Misty Herget | $213,762 | $204,000 | $213,639 | $112,741 | $113,411 | — |
| Joy Stewart | $166,252 | $156,770 | $105,968 | — | — | — |
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
Conducts policy research and advocates for rural communities to improve economic conditions, strengthen infrastructure, support entrepreneurs, and increase job opportunities.
Questions for Rural Economic Development Center INC
Your first name shows with your question. Rural Economic Development Center INC answers here, for everyone.
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Small Business/Entrepreneurship
The rural center delivers critical resources to support existing businesses and enable the emergence of new entrepreneurs. The rural center believes equitable economic growth depends on sustaining rural small businesses and nurturing small-town entrepreneurs.
Leadership & Engagement
The center's flagship leadership program, the rural economic development institute (redi) offers participants collaborative leadership skills and rural development strategies to help them return home and make a meaningful impact in their communities.
Advocacy & Research
The rural center serves as the state's leading advocate for its many rural communities. The rural center provides local, regional, and state leaders the information they need to be informed on the important rural issues of the day.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $35.7M | $76.2M |
| InvestmentsLn 11–13 | $32.6M | $38.8M |
| Land, buildings, equipmentLn 10c | $2.9M | $2.7M |
| Total assetsLn 16 | $247.4M | $309.1M |
| LiabilitiesLn 26 | $86.7M | $93.3M |
| Net assetsLn 32 | $160.7M | $215.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $2.5M | $2.5M | ||
| Grants to domestic individualsLn 2 | $11K | $11K | ||
| Pay of current officers, directors and key staffLn 5 | $1.7M | $1.1M | $582K | $27K |
| Other salaries and wagesLn 7 | $2.5M | $1.5M | $905K | $36K |
| Pension plan contributionsLn 8 | $173K | $142K | $27K | $4K |
| Other employee benefitsLn 9 | $287K | $235K | $45K | $7K |
| Payroll taxesLn 10 | $292K | $175K | $113K | $5K |
| Legal feesLn 11b | $231K | $201K | $29K | $254 |
| Accounting feesLn 11c | $140K | $122K | $18K | $153 |
| Lobbying feesLn 11d | $57K | $45K | $11K | $194 |
| Other fees for servicesLn 11g | $2.6M | $2.1M | $526K | $9K |
| Advertising and promotionLn 12 | $40K | $16K | $24K | |
| Office expensesLn 13 | $140K | $94K | $46K | $1K |
| Information technologyLn 14 | $100K | $74K | $24K | $1K |
| OccupancyLn 16 | $194K | $142K | $49K | $3K |
| TravelLn 17 | $129K | $116K | $13K | $82 |
| Conferences, conventions and meetingsLn 19 | $265K | $238K | $26K | $164 |
| InterestLn 20 | $3K | $1K | $1K | $38 |
| Depreciation, depletion and amortizationLn 22 | $217K | $139K | $74K | $3K |
| InsuranceLn 23 | $12K | $10K | $1K | $13 |
| Other expenses (24a–d)Ln 24 | $29K | $16K | $12K | $486 |
| All other expensesLn 24e | $861 | $422 | $427 | $12 |
| Total functional expensesLn 25 | $11.6M | $9.0M | $2.5M | $98K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $70.0M | $11.6M | $58.3M | $215.8M | 990 PDF |
| FY2024 | $60.7M | $13.1M | $47.6M | $160.7M | 990 PDF |
| FY2023 | $21.4M | $11.7M | $9.7M | $115.5M | 990 PDF |
| FY2022 | $11.4M | $7.4M | $4.0M | $108.7M | 990 PDF |
| FY2021 | $47.8M | $6.1M | $41.7M | $111.5M | 990 PDF |
| FY2020 | $6.0M | $4.7M | $1.3M | $62.7M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $69,981,334 revenue, 12 lines filed
Part VI · Governance 21 of 21 board members independent, no flags
Part VIII · Statement of revenue $69,981,334 across 9 lines filed
Part IX · Statement of functional expenses $11,635,108 across 22 lines filed
Part X · Balance sheet $309,058,828 assets, 18 lines filed
Part XI · Reconciliation of net assets $215,784,192 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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