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Regional Development Alliance INC FY2024 filing

Not tax-deductible

Idaho Falls, ID501(c)(6)EIN 84-1407698Revenue $406K in FY2024

On file with the IRS375 N Holmes Ave, 83401-2614 · Idaho Falls, IDTax-exempt since Nov 1997

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To provide business financing for the purposes of job creation in eastern idaho.

Mission: Form 990 Part I, line 1

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FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $150K a year · 45% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
179 mo
of spending, in cash
Looks good: 179.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$338
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$406K
+60% vs prior year
Spent
$288K
To programs
0%
Net assets
$6.9M
By yearFY2021–FY2025
Revenue
$406K
FY2024▲ +60%
Tap a bar for its year
Revenue by fiscal year
FY2021$158K
FY2022$480K
FY2023$253K
FY2024$406K
FY2025$353K
Expenses
$288K
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2021$446K
FY2022$1.2M
FY2023$260K
FY2024$288K
FY2025$253K
Net assets
$6.9M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$7.4M
FY2022$6.7M
FY2023$6.7M
FY2024$6.9M
FY2025$7.0M

From the FY2024 Form 990 (year ending May 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1997.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Gordon Egan
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Byron Reed
Vice-Chairma
$0Pt VII · Sec A
Connie Chadwick
Executive Di
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2021
Connie Chadwick$74,776—
Wes Collins—$71,811

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 Alliance INC executive salaries →

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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 15aNo

Programs and updates

Finances businesses to create jobs in Eastern Idaho.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Helped business obtain loans to help start and grow businesses and create jobs in south east idaho.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$406K
Ln 12
Fees for servicesLn 2g$229K
Investment incomeLn 3$177K
Money outPt IX
$288K
Ln 25
Owns and owesPt X
$6.9M
net assets · Ln 32
Cash and savingsLn 1–2$4.3M
Total assetsLn 16$6.9M
LiabilitiesLn 26$338
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$229K
Investment incomeLn 3$177K
Total revenueLn 12$406K
Assets in detailPt X, end of year
CashLn 1$201K
SavingsLn 2$4.1M
Cash and savings togetherLn 1–2$4.3M
Land, buildings, equipmentLn 10c$936
Other assetsLn 15$1K
Total assetsLn 16$6.9M
LiabilitiesLn 26$338
Net assetsLn 32$6.9M
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.8M$4.3M
Land, buildings, equipmentLn 10c$1K$936
Total assetsLn 16$6.7M$6.9M
LiabilitiesLn 26$9K$338
Net assetsLn 32$6.7M$6.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$107K
Legal feesLn 11b$14K
Accounting feesLn 11c$17K
Advertising and promotionLn 12$45K
TravelLn 17$549
Depreciation, depletion and amortizationLn 22$137
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$84K
All other expensesLn 24e$8K
Total functional expensesLn 25$288K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $353K$253K$101K$7.0M 990 PDF
FY2024 Viewing $406K$288K$118K$6.9M 990 PDF
FY2023 $253K$260K−$7K$6.7M 990 PDF
FY2022 $480K$1.2M−$673K$6.7M 990 PDF
FY2021 $158K$446K−$288K$7.4M 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 FY2024 990 (6 parts)
Part I · Summary $406,434 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45$0
I-9 Program service revenuePrior year $207,039$229,397
I-10 Investment incomePrior year $46,333$177,037
I-11 Other revenue$0
I-12 Total revenuePrior year $253,417$406,434
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $105,863$107,439
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $154,632$180,994
I-18 Total expensesPrior year $260,495$288,433
I-19 Revenue less expensesPrior year −$7,078$118,001
Part VI · Governance 14 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $406,434 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $229,397$229,397
VIII-3 Investment incomeRelated to mission $177,037$177,037
VIII-12 Total revenueRelated to mission $406,434$406,434
Part IX · Statement of functional expenses $288,433 across 9 lines filed
IX-7 Other salaries and wages$107,439
IX-11b Legal fees$13,696
IX-11c Accounting fees$17,250
IX-12 Advertising and promotion$45,285
IX-17 Travel$549
IX-22 Depreciation, depletion and amortization$137
IX-23 Insurance$12,168
IX-24 Other expenses (24a–d)$83,772
IX-24e All other expenses$8,137
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$288,433
Part X · Balance sheet $6,857,097 assets, 10 lines filed
Asset lines not itemized here account for $2,546,719; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $131,571$201,034
X-2 Savings and temporary cash investmentsStart of year $3,662,431$4,107,394
X-10c Land, buildings and equipment, netStart of year $1,074$936
X-15 Other assetsStart of year $17,072$1,014
X-16 Total assetsStart of year $6,747,438$6,857,097
X-17 Accounts payable and accrued expensesStart of year $8,680$338
X-26 Total liabilitiesStart of year $8,680$338
X-27 Net assets without donor restrictionsStart of year $6,738,758$6,856,759
X-32 Total net assets or fund balancesStart of year $6,738,758$6,856,759
X-33 Total liabilities and net assetsStart of year $6,747,438$6,857,097
Part XI · Reconciliation of net assets $6,856,759 net assets at year end
XI-1 Total revenue$406,434
XI-2 Total expenses$288,433
XI-3 Revenue less expenses$118,001
XI-4 Net assets at start of year$6,738,758
XI-10 Net assets at end of year$6,856,759

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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