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Valley Development Initiatives FY2021 filing

Not tax-deductible

Salem, OR501(c)(4)Since 1994EIN 93-1138243Revenue $337K in FY2021

On file with the IRSPo Box 167, 97308-0167 · Salem, ORTax-exempt since Jun 1995

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The principal purposes of this corporation shall be to act as an intermediary borrower/relender within the scope of a certain "intermediary relending program" established by the u.s. Department of agriculture, farmers home administration (fmha), as a lender of other public funds such as those made available under the rural business enterprise grant program established by fmha and funds that may be derived from other public agencies to accomplish similar goals, and provide affordable housing that is decent, safe, and sanitary for low-income families, to carry out a neighborhood revitalization or community economic Development, and to contract with an appropriate political subdivision ("a public body" as defined in ors 30.620) of the state of oregon to administer such program in the name of this corporation.

86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
0 of 6
filings with a surplus
Average deficit $84K a year · 29% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
69 mo
of spending, in cash
Looks good: 68.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.4M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$337K
-15% vs prior year
Spent
$375K
To programs
86%
Net assets
$5.9M
By yearFY2020–FY2025
Revenue
$337K
FY2021▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$396K
FY2021$337K
FY2022$191K
FY2023$320K
FY2024$353K
FY2025$120K
Expenses
$375K
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$397K
FY2021$375K
FY2022$362K
FY2023$473K
FY2024$418K
FY2025$196K
Net assets
$5.9M
FY2021▼ -0.7%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.9M
FY2021$5.9M
FY2022$6.0M
FY2023$5.8M
FY2024$5.7M
FY2025$5.6M

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 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 Jun 1995.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $323K Management & general 14% · $52K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Kevin Joyce
President
$0Pt VII · Sec A
Derik Munns
Vice President
$0Pt VII · Sec A
Sam Brentano
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ray Teasley
Director
$0Pt VII · Sec A
Truman Stone
Director
$0Pt VII · Sec A
Tom Pessemier
Secretary
$0Pt VII · Sec A
Andy Bennett
Director
$0Pt VII · Sec A
See Valley Development Initiatives 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

Provides loans and affordable housing to support rural community development and revitalization.

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Provided by the organization

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1 program · $323K · in their own filed words · FY2020
01

Provided loans to small businesses located in rural communities of clackamas, marion, polk, and yamhill counties in oregon. No loans were made during the fiscal year and as of june 30, 2021, eighteen loans were outstanding.

$323Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$337K
Ln 12
Fees for servicesLn 2g$333K
Investment incomeLn 3$4K
Money outPt IX
$375K
Ln 25
Programscol B$323K
Managementcol C$52K
Owns and owesPt X
$5.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$7.3M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$333K
Investment incomeLn 3$4K
Total revenueLn 12$337K
Assets in detailPt X, end of year
SavingsLn 2$2.2M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$4.1M
Other assetsLn 15$955K
Total assetsLn 16$7.3M
LiabilitiesLn 26$1.4M
Net assetsLn 32$5.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.7M$2.2M
InvestmentsLn 11–13$4.7M$4.1M
Total assetsLn 16$7.3M$7.3M
LiabilitiesLn 26$1.4M$1.4M
Net assetsLn 32$5.9M$5.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$195K$154K$41K
Accounting feesLn 11c$11K$11K
OccupancyLn 16$8K$8K
InterestLn 20$14K$14K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$142K$142K
Total functional expensesLn 25$375K$323K$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $120K$196K−$75K$5.6M 990 PDF
FY2024 $353K$418K−$65K$5.7M 990 PDF
FY2023 $320K$473K−$154K$5.8M 990 PDF
FY2022 $191K$362K−$171K$6.0M 990 PDF
FY2021 Viewing $337K$375K−$39K$5.9M 990 PDF
FY2020 $396K$397K−$979$5.9M 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 FY2021 990 (6 parts)
Part I · Summary $336,935 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $369,897$332,580
I-10 Investment incomePrior year $12,391$4,355
I-11 Other revenuePrior year $13,811$0
I-12 Total revenuePrior year $396,099$336,935
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $397,078$375,436
I-18 Total expensesPrior year $397,078$375,436
I-19 Revenue less expensesPrior year −$979−$38,501
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $336,935 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $332,580$332,580
VIII-3 Investment incomeExcluded from tax $4,355$4,355
VIII-12 Total revenueRelated to mission $332,580 · Unrelated business $0 · Excluded from tax $4,355$336,935
Part IX · Statement of functional expenses $375,436 across 6 lines filed
IX-11a Management feesPrograms $153,970 · Management $41,056$195,026
IX-11c Accounting feesManagement $11,041$11,041
IX-16 OccupancyPrograms $8,023$8,023
IX-20 InterestPrograms $13,797$13,797
IX-23 InsurancePrograms $5,869$5,869
IX-24 Other expenses (24a–d)Programs $141,680$141,680
IX-25 Total functional expensesPrograms $323,339 · Management $52,097 · Fundraising $0$375,436
Part X · Balance sheet $7,257,429 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,668,812$2,152,576
X-4 Accounts receivableStart of year $7,449$10,091
X-13 Program-related investmentsStart of year $4,688,452$4,139,374
X-15 Other assetsStart of year $973,727$955,388
X-16 Total assetsStart of year $7,338,440$7,257,429
X-17 Accounts payable and accrued expensesStart of year $8,242$5,986
X-25 Other liabilitiesStart of year $0$75,998
X-26 Total liabilitiesStart of year $1,430,126$1,387,616
X-27 Net assets without donor restrictionsStart of year $5,908,314$5,869,813
X-32 Total net assets or fund balancesStart of year $5,908,314$5,869,813
X-33 Total liabilities and net assetsStart of year $7,338,440$7,257,429
Part XI · Reconciliation of net assets $5,869,813 net assets at year end
XI-1 Total revenue$336,935
XI-2 Total expenses$375,436
XI-3 Revenue less expenses−$38,501
XI-4 Net assets at start of year$5,908,314
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,869,813

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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