Prairie Development Corporation
Prairie Development Corporation is a public charity based in Stratton, Colorado, formed in 1986. It provides loans and loan guarantees for low-income housing, housing rehabilitation, business start-ups, and related support services.
Prairie Development Corporation at a glance
- Total assets
- $3,861,067
- +0.8% vs 2024
- Revenue (2025)
- $231,405
- +6.3% vs 2024
- Net investment income (2025)
- $80,555
- +35.0% vs 2024
- Expenses (2025)
- $198,485
- +38.0% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to Prairie Development Corporation
- Contact
Mailing address: 128 Colorado Avenue, Stratton, CO 80836
Phone: (719) 348-5596
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Prairie Development Corporation funds
How this funder distributes its grants
Grant Size Distribution
16 grants across all recorded years
The most common grant size was under $50K: 16 grants of 16 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
In 2022 it made 16 grants totaling $212K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Highway 59 Grains LLC Seibert, CO | Gen Support - Covid | $15,000 |
| Ganalodge Corp Limon, CO | Gen Support - Covid | $15,000 |
| DL Services LLC Cope, CO | Gen Support - Covid | $15,000 |
| CJ Pena Enterprise LLC DBA Cornerstone Coffee Akron, CO | Gen Support - Covid | $15,000 |
| Kinnon Entertainment Inc Fort Morgan, CO | Gen Support - Covid | $15,000 |
| Golden Mountain Montessori School LLC Colorado Springs, CO | Gen Support - Covid | $15,000 |
| Trends of Africa Colorado Springs, CO | Gen Support - Covid | $15,000 |
| Pots & Petals Silverthorne, CO | Gen Support - Covid | $15,000 |
| Advertising Innovations Durango, CO | Gen Support - Covid | $15,000 |
| Frangiosa Farms LLC Parker, CO | Gen Support - Covid | $15,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $3,861,067 | $231,405 | $198,485 | — | — | $80,555 |
| 2024 | $3,831,583 | $217,602 | $143,835 | — | — | $59,681 |
| 2023 | $3,756,706 | $281,232 | $131,352 | — | — | $21,065 |
| 2022 | $3,628,943 | $3,272,612 | $3,180,861 | $212,148 | 16 | $5,710 |
| 2021 | $3,514,157 | $126,188 | $105,217 | — | — | $7,144 |
| 2020 | $3,496,307 | $1,251,929 | $319,876 | — | — | $16,455 |
| 2019 | $2,565,942 | $135,171 | $144,897 | — | — | $17,272 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The organization’s stated mission is to provide loans for low-income housing to individuals and businesses, and low-income loans and loan guarantees for housing rehabilitation, business start-ups, and related support services.
Its economic development program offers direct and guaranteed loans of up to $150,000 to businesses. The filing says it may lend $35,000 per full-time-equivalent position, with 51% of those positions required to be offered to or filled by people who meet low- to moderate-income qualifications. The organization says it is not a primary lender and often partners with local banks or other financial institutions. It also participates in marketing regional tourism.
Its community housing programs include low- or no-interest loans for rehabilitation of owner-occupied homes, emergency home repair loans, and down-payment assistance loans for qualifying first-time homebuyers. The organization may also buy vacant single-family homes needing rehabilitation, repair them, and resell them to income-qualified first-time homebuyers. No housing loans were closed in 2025.
The organization also leases two apartments and sublets office space to the East Central Council of Governments and the Home Agency, identified in the filing as an insurance company.
Grantmaking
The filings report zero grants in 2023, 2024, and 2025. The organization’s described assistance is primarily loans and loan guarantees, rather than grants to outside applicants. In 2025, it closed one new business loan for $60,000, which the filing says created three full-time-equivalent positions; no housing loans were closed that year.
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and directors listed on the 2025 filing include Candace Payne, listed as “ADMINISTRATO”; Ed Rarick, Chairman; Robert Safranek, Treasurer; and board members Mike Buck, Deanna Harrison, Tony Bandy, RJ Jolly, and Denae Roths.
Prairie Development Corporation is led by Ed Rarick, Chairman on every filing since 2019; none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Ed Rarick
Chairman
On filings since 2019
0.5 hrs/week
No compensation reported
Candace Payne
Administrator
On filings since 2019
20 hrs/week
No compensation reported
Robert Safranek
Treasurer
Board Member → Treasurer, 2023
On filings since 2019
0.5 hrs/week
No compensation reported
Deanna Harrison
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Rj Jolly
Board Member
On filings since 2023
0.5 hrs/week
No compensation reported
Denae Roths
Board Member
New on the 2025 filing
0.5 hrs/week
No compensation reported
Mike Buck
Board Member
New on the 2025 filing
0.5 hrs/week
No compensation reported
Tony Bandy
Board Member
New on the 2025 filing
0.5 hrs/week
No compensation reported
Former officers (7)
- Former: Dorothy Stone (2019–2024) — Vice Chair
- Former: Grant Thayer (2019–2024) — Board Member
- Former: Marilyn Ward (2019–2024) — Board Member
- Former: Steve Burgess (2019–2024) — Board Member
- Former: Jerry Allen (2019–2022) — Secretary
- Former: Rol Hudler (2019–2022) — Board Member
- Former: Nicci Tanner (2019) — Board Member
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Prairie Development Corporation
How large is Prairie Development Corporation?
Prairie Development Corporation reported $3.9M in total assets on its 2025 IRS Form 990. Its revenue that year was $231K.
What does Prairie Development Corporation fund?
The organization’s stated mission is to provide loans for low-income housing to individuals and businesses, and low-income loans and loan guarantees for housing rehabilitation, business start-ups, and related support services. See mission & focus areas ↑
How do I apply for a grant from Prairie Development Corporation?
Prairie Development Corporation has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Prairie Development Corporation's EIN?
Prairie Development Corporation's EIN (Employer Identification Number) is 84-1043508. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS May 25, 2023)
- Added Form 990 for fiscal year 2019 (received by the IRS June 10, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS July 27, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Prairie Development Corporation's focus areas in our free grants database
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Figures come from Prairie Development Corporation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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