philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Valley Development Initiatives FY2024 filing

Not tax-deductible

Salem, OR501(c)(4)Since 1994 EIN 93-1138243Revenue $353K in FY2024

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

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

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.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
111 mo
of spending, in cash
Looks good: 110.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.0M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$353K
+10% vs prior year
Spent
$418K
To programs
94%
Net assets
$5.7M
By yearFY2020–FY2025
Revenue
$353K
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$396K
FY2021$337K
FY2022$191K
FY2023$320K
FY2024$353K
FY2025$120K
Expenses
$418K
FY2024▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$397K
FY2021$375K
FY2022$362K
FY2023$473K
FY2024$418K
FY2025$196K
Net assets
$5.7M
FY2024▼ -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 FY2024 Form 990 (year ending June 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 Jun 1995.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $392K Management & general 6% · $27K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Derik Munns
President
$0Pt VII · Sec A
Alex Rhoten
Vice President
$0Pt VII · Sec A
Andy Bennett
Secretary
$0Pt VII · Sec A
Natalie McRae Carmichael
Program Director
$0Pt VII · Sec A
Ray Teasley
Treasurer
$0Pt VII · Sec A
Sam Brentano
Director
$0Pt VII · Sec A
Truman Stone
Director
$0Pt VII · Sec A
Lesa Goff
Director
$0Pt VII · Sec A
See Valley Development Initiatives executive salaries →

On this list? Claim this org

Something off? Claim to add context

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.

Questions for Valley Development Initiatives

Tap to ask. Valley Development Initiatives sees how many people are interested.

Your first name shows with your question. Valley Development Initiatives answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $392K · in their own filed words · FY2023
01

Provided loans to small businesses located in rural communities of clackamas, marion, polk, and yamhill counties in oregon. One loan was made during the fiscal year and as of june 30, 2024, thirteen loans were outstanding.

$392Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$353K
Ln 12
Gifts and grantsLn 1h$226K
Fees for servicesLn 2g$126K
Investment incomeLn 3$388
Money outPt IX
$418K
Ln 25
Programscol B$392K
Managementcol C$27K
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$7.7M
LiabilitiesLn 26$2.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$226K
Government grantsLn 1e$226K
Fees for servicesLn 2g$126K
Investment incomeLn 3$388
Total revenueLn 12$353K
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$3.9M
InvestmentsLn 11–13$3.8M
Other assetsLn 15$6K
Total assetsLn 16$7.7M
LiabilitiesLn 26$2.0M
Net assetsLn 32$5.7M
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 FY24End FY24
Cash and savingsLn 1–2$3.7M$3.9M
InvestmentsLn 11–13$4.1M$3.8M
Total assetsLn 16$7.9M$7.7M
LiabilitiesLn 26$2.1M$2.0M
Net assetsLn 32$5.8M$5.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$76K$76K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$184K$184K
Office expensesLn 13$3K$3K
InterestLn 20$10K$10K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$121K$121K
Total functional expensesLn 25$418K$392K$27K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $120K$196K−$75K$5.6M 990 PDF
FY2024 Viewing $353K$418K−$65K$5.7M 990 PDF
FY2023 $320K$473K−$154K$5.8M 990 PDF
FY2022 $191K$362K−$171K$6.0M 990 PDF
FY2021 $337K$375K−$39K$5.9M 990 PDF
FY2020 $396K$397K−$979$5.9M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $353,239 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $188,229$226,364
I-9 Program service revenuePrior year $128,350$126,487
I-10 Investment incomePrior year $3,213$388
I-11 Other revenuePrior year $73$0
I-12 Total revenuePrior year $319,865$353,239
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 $473,460$418,415
I-18 Total expensesPrior year $473,460$418,415
I-19 Revenue less expensesPrior year −$153,595−$65,176
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $353,239 across 5 lines filed
VIII-1e Government grants$226,364
VIII-1h Total contributions, gifts and grants$226,364
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $126,487$126,487
VIII-3 Investment incomeExcluded from tax $388$388
VIII-12 Total revenueRelated to mission $126,487 · Unrelated business $0 · Excluded from tax $388$353,239
Part IX · Statement of functional expenses $418,415 across 7 lines filed
IX-11b Legal feesPrograms $76,442$76,442
IX-11c Accounting feesManagement $17,297$17,297
IX-11g Other fees for servicesPrograms $184,107$184,107
IX-13 Office expensesManagement $2,864$2,864
IX-20 InterestPrograms $10,242$10,242
IX-23 InsuranceManagement $6,356$6,356
IX-24 Other expenses (24a–d)Programs $121,107$121,107
IX-25 Total functional expensesPrograms $391,898 · Management $26,517 · Fundraising $0$418,415
Part X · Balance sheet $7,682,904 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,728,090$2,842,991
X-2 Savings and temporary cash investmentsStart of year $1,010,407$1,021,230
X-4 Accounts receivableStart of year $5,412$1
X-13 Program-related investmentsStart of year $4,074,880$3,812,626
X-15 Other assetsStart of year $8,561$6,056
X-16 Total assetsStart of year $7,879,106$7,682,904
X-17 Accounts payable and accrued expensesStart of year $47,102$6,562
X-19 Deferred revenueStart of year $1,000,000$1,010,843
X-26 Total liabilitiesStart of year $2,105,952$1,951,873
X-27 Net assets without donor restrictionsStart of year $5,773,154$5,731,031
X-32 Total net assets or fund balancesStart of year $5,773,154$5,731,031
X-33 Total liabilities and net assetsStart of year $7,879,106$7,682,904
Part XI · Reconciliation of net assets $5,731,031 net assets at year end
XI-1 Total revenue$353,239
XI-2 Total expenses$418,415
XI-3 Revenue less expenses−$65,176
XI-4 Net assets at start of year$5,773,154
XI-8 Prior period adjustments$23,053
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,731,031

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.