Rural Economic Development Center Inc
4021 Carya Dr, Raleigh, NC · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $69,981,334 | $11,635,108 | $215,784,192 |
| FY2024 | $60,678,534 | $13,096,953 | $160,732,216 |
| FY2023 | $21,387,422 | $11,713,020 | $115,528,670 |
| FY2022 | $11,378,133 | $7,400,388 | $108,721,408 |
| FY2021 | $47,793,767 | $6,129,181 | $111,533,578 |
| FY2020 | $5,989,172 | $4,667,786 | $62,669,033 |
| FY2019 | $7,448,090 | $8,603,886 | $62,714,512 |
| FY2018 | $4,615,637 | $3,514,107 | $70,645,806 |
| FY2017 | $4,271,162 | $2,818,494 | $64,980,767 |
| FY2016 | $6,832,897 | $3,384,690 | $59,987,959 |
| FY2015 | $10,341,726 | $3,268,144 | $55,539,244 |
| FY2014 | $16,642,283 | $20,059,034 | $46,338,908 |
| FY2013 | $44,119,617 | $54,794,392 | $149,779,060 |
| FY2012 | $38,883,079 | $61,702,237 | $160,562,247 |
Form 990 filings
The returns filed by Rural Economic Development Center Inc (EIN 56-1552375), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $56,236,894 | 80% |
| Program service revenue | $494,903 | 1% |
| Other revenue | $13,249,537 | 19% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $9,010,664 | 77% |
| Management & general | $2,526,836 | 22% |
| Fundraising | $97,608 | 1% |
What the numbers show
- Contributions & grants made up 80% of total revenue in FY2025.
- Program services accounted for 77% of functional expenses, management & general 22%, and fundraising 1%.
- 77% of functional expenses went to program services in FY2025. That is higher than 17.9% of 480 Community Improvement & Capacity Building organizations nationwide (too few in NC for a state comparison).
- Net assets covered about 222.6 months of expenses at the end of the reporting year. That puts it in the 94th percentile among 619 Community Improvement & Capacity Building organizations in NC.
- Total revenue was the highest among 633 Community Improvement & Capacity Building organizations in NC.
- Total revenue rose from $38,883,079 in FY2012 to $69,981,334 in FY2025. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 4 of 14 reported years (FY2012, FY2013, FY2014, FY2019).
- Net assets grew from $160,562,247 to $215,784,192 between FY2012 and FY2025.
- Contributions and grants made up 87% of revenue in FY2012 and 80% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
WE CHAMPION RURAL NORTH CAROLINA BY INVESTING IN PEOPLE, COMMUNITIES AND POTENTIAL.
IRS status
| Ruling year | 1987 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | S320 — Community Improvement & Capacity Building |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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