Rural Economic Development Center Inc
WE CHAMPION RURAL NORTH CAROLINA BY INVESTING IN PEOPLE, COMMUNITIES AND POTENTIALAND ENVISION A RURAL NORTH CAROLINA WHERE EVERY RURAL VOICE MATTERS AND EVERY RURALCOMMUNITY THRIVES.
Key facts about Rural Economic Development Center Inc
- EIN
- 56-1552375
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $2,483,460
- Grants made (2025)
- 26
- Average grant
- $95,518
- Median grant
- $10,000
- Total assets
- $309,058,828
- Primary geography
- North Carolina (96% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Rural Economic Development Center Inc funds
By grant dollars, the top recipient states for Rural Economic Development Center Inc's 26 itemized 2025 grants were North Carolina (96%). None of its 26 grants with a stated purpose were described as general or operating support. Recurring purposes include "Faith in Rural Communities Connect Implementation Grant" (24 grants).
How Rural Economic Development Center Inc gives
Estimate from itemized IRS Form 990-PF grant lists (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$309.1M
+24.9% YoY
Annual Giving
$2.5M
+7.8% YoY
Grant Count
26
+23.8% YoY
Avg Grant Size
$96K
-12.9% YoY
About Rural Economic Development Center Inc
Based on IRS filings
Rural Economic Development Center Inc is a nonprofit organization focused on Community Improvement & Capacity Building, based in Raleigh, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $309.1M in total assets. In 2025, it awarded 26 grants totaling $2.5M. Net investment income was $13.0M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 26 itemized 2025 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $309,058,828 | $247,445,307 | $262,359,551 |
| Revenue | $69,981,334 | $60,678,534 | $21,387,422 |
| Expenses | $11,635,108 | $13,096,953 | $11,713,020 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $12,981,246 | $9,374,202 | $6,801,647 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2025
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
74 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include North Carolina State University Small Business and Technology Development C ($1,826,647), MDC Inc ($218,412), Cooperative Baptist Fellowship ($95,000).
| Recipient | Purpose | Amount |
|---|---|---|
| NORTH CAROLINA STATE UNIVERSITY SMALL BUSINESS AND TECHNOLOGY DEVELOPMENT C Raleigh, NC | SSBCI TA GRANT | $1,826,647 |
| MDC INC Durham, NC | CDFI CAPACITY BUILDING PROGRAM GRANTS | $218,412 |
| COOPERATIVE BAPTIST FELLOWSHIP Knoxville, TN | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $95,000 |
| BLACKBURNS CHAPEL UMC Todd, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $50,000 |
| BETHESDA UMC Fairmont, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $30,000 |
| CALVARY PRESBYTERIAN CHURCH Wilson, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $30,000 |
| FIRST UMC (FRANKLIN) Franklin, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $30,000 |
| FIRST UMC (MURPHY) Murphy, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $20,000 |
| FIRST UNITED METHODIST CHURCH Elizabeth City, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $13,401 |
| ABERNETHY MEMORIAL UMC Connelly Springs, NC | FAITH IN RURAL COMMUNITIES CONNECT IMPLEMENTATION GRANT | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Phil Marion | Chair | 1 | — |
| Sara Chester | Vice-Chair | 1 | — |
| Yolanda Taylor | Secretary | 1 | — |
| Paula Benson | Treasurer | 1 | — |
| Jose Alvarez | Board Member | 1 | — |
| Ryan Ammann | Board Member | 1 | — |
| Andy Anderson | Board Member | 1 | — |
| Dr Zachary Barricklow | Board Member | 1 | — |
| Al Bass | Board Member | 1 | — |
| Casey Cooper | Board Member | 1 | — |
| Anne Faircloth | Board Member | 1 | — |
| Lariza Garzon | Board Member (From Dec '24) | 1 | — |
| Randy Gore | Board Member | 1 | — |
| Mike Hawkins | Board Member | 1 | — |
| Randolph Keaton | Board Member | 1 | — |
| Ben Knight | Board Member | 1 | — |
| Alice Schenall | Board Member (To Dec '24) | 1 | — |
| Kim Shepherd | Board Member | 1 | — |
| Brittany Bennett Weston | Board Member | 1 | — |
| Gil Wise | Board Member | 1 | — |
| Weyling White | Board Member | 1 | — |
| Jennifer Tolle Whiteside | Board Member | 1 | — |
| Patrick Woodie | President & CEO | 40 | $384,462 |
| Carolyn Rhodes | COO | 40 | $303,879 |
| Franklin T Roberts | CFO/Asst Treasurer | 40 | $235,999 |
| Joy Stewart | Dir of Internal Compliance and Audit | 40 | $166,252 |
| Misty Herget | Chief Programs Officer | 40 | $213,762 |
| William Mitchell Stallings | Chief Revenue Officer | 40 | $216,529 |
| Armeer G Kenchen | Exec Dir, Cornersquare LLC | 40 | $215,112 |
| Daniel Michael | Controller | 40 | $146,600 |
| Andrea Breazeale | Dir of HR | 40 | $124,800 |
| William Holmes | Sr Dir of Communications | 40 | $121,693 |
| Jonathan Brereton | Exec Dir, Thread Capital (To Aug '23) | 20 | $237,735 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Rural Economic Development Center Inc?
Rural Economic Development Center Inc is a nonprofit organization focused on Community Improvement & Capacity Building, based in Raleigh, NC. It holds $309.1M in total assets as of 2025.
How large is Rural Economic Development Center Inc?
As of 2025, Rural Economic Development Center Inc holds $309.1M in total assets with $70.0M in annual revenue. It awarded 26 grants totaling $2.5M in 2025.
Where does Rural Economic Development Center Inc operate?
Rural Economic Development Center Inc has awarded grants in North Carolina, Tennessee, West Virginia.
What size grants does Rural Economic Development Center Inc award?
In 2025, Rural Economic Development Center Inc awarded 26 grants totaling $2.5M — an average of about $96K per grant, based on its IRS Form 990 filings.
What is Rural Economic Development Center Inc's EIN?
Rural Economic Development Center Inc's EIN (Employer Identification Number) is 56-1552375. IRS Form 990 filing data is available on this page for 2020–2025.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.