Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1998.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 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
10 people listed on the 990; $114K paid to officers and key staff.
Patrick Vanderpool’s $114K as Executive Di is at the 27th percentile of top reported officer pay among 2832 $1–10M 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 · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Valentine Alonzo | — | — | $133,573 | $117,000 | $117,000 | $109,154 |
| Patrick Vanderpool | $114,400 | $61,240 | — | — | — | — |
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
Improves economic development by providing investment and technical help for job growth.
Questions for Regional Development Corporation
Your first name shows with your question. Regional Development Corporation answers here, for everyone.
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Regional development corporation initiatives include business retention & expansion which provides one-on-one technical assistance services to current and future business owners free of charge.
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 | $1.2M | $972K |
| Land, buildings, equipmentLn 10c | $8K | $10K |
| Total assetsLn 16 | $1.3M | $1.2M |
| LiabilitiesLn 26 | $116K | $183K |
| Net assetsLn 32 | $1.2M | $978K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $567K | $567K | ||
| Pay of current officers, directors and key staffLn 5 | $132K | $122K | $10K | |
| Other salaries and wagesLn 7 | $368K | $340K | $28K | |
| Pension plan contributionsLn 8 | $8K | $7K | $605 | |
| Other employee benefitsLn 9 | $1K | $1K | $107 | |
| Payroll taxesLn 10 | $38K | $35K | $3K | |
| Other fees for servicesLn 11g | $162K | $123K | $39K | |
| Advertising and promotionLn 12 | $81K | $81K | ||
| Office expensesLn 13 | $24K | $7K | $17K | |
| OccupancyLn 16 | $30K | $27K | $2K | |
| TravelLn 17 | $28K | $26K | $2K | |
| Conferences, conventions and meetingsLn 19 | $53K | $46K | $7K | |
| Depreciation, depletion and amortizationLn 22 | $4K | $4K | $338 | |
| InsuranceLn 23 | $4K | $4K | $294 | |
| Other expenses (24a–d)Ln 24 | $8K | $6K | $2K | |
| Total functional expensesLn 25 | $1.5M | $1.3M | $192K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $1.3M | $1.5M | −$218K | $978K | 990 PDF |
| FY2024 | $1.1M | $1.3M | −$177K | $1.2M | 990 PDF |
| FY2023 | $1.1M | $1.1M | −$17K | $1.4M | 990 PDF |
| FY2022 | $1.0M | $866K | $172K | $1.4M | 990 PDF |
| FY2021 | $1.1M | $926K | $136K | $1.2M | 990 PDF |
| FY2020 | $863K | $907K | −$43K | $1.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,290,803 revenue, 12 lines filed
Part VI · Governance 9 of 9 board members independent, no flags
Part VIII · Statement of revenue $1,290,803 across 5 lines filed
Part IX · Statement of functional expenses $1,508,657 across 15 lines filed
Part X · Balance sheet $1,160,763 assets, 14 lines filed
Part XI · Reconciliation of net assets $977,803 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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