EIN 56-1552375

North Carolina Rural Center

IRS 501(c) type
501(c)(3)
Num. employees
68
Year formed
1987
Most recent tax filings
2024-06-01
NTEE code, primary
Description
Our mission is to develop, promote and implement sound economic strategies to improve the quality of life of rural North Carolinians. We serve the state's 85 rural counties, with a special focus on low to moderate income individuals and communities.
Also known as...
Rural Economic Development Center
Total revenues
$60,678,534
2024
Total expenses
$13,096,953
2024
Total assets
$247,445,307
2024
Num. employees
68
2024

Program areas at North Carolina Rural Center

Small business / entrepreneurship: the Rural Center delivers critical resources to support existing businesses and enable the emergence of new entrepreneurs. The Rural Center believes equitable Economic growth depends on sustaining Rural small businesses and nurturing small-town entrepreneurs. The Rural Center's lending subsidiary, thread capital, works with individuals trying to start or expand a small business by providing capital, coaching, and connections. The Rural Center operates the state small business credit initiative program to support private sector capital formation in all 100 counties. The Rural Center operates cornersquare community capital, which supports community Development financial institutions in a 17-state region.
Advocacy & research: the Rural Center serves as the state's leading advocate for its many Rural communities. The Rural Center provides local, regional, and state leaders the information they need to be informed on the important Rural issues of the day. The Rural Center identifies specific topics for more in-depth exploration and partners with experts to lift up policy and research that informs the decisions of today and helps plan for the choices of tomorrow. With a voice informed by data, research, storytelling, and best practices, the Rural Center advocates on the local, state, and federal levels for the compelling issues facing Rural communities: issues like broadband access, healthcare, housing, agriculture, education, energy, workforce Development, and infrastructure.
Leadership & engagement: the Center's flagship leadership program, the Rural Economic Development institute (redi) offers participants collaborative leadership skills and Rural Development strategies to help them return home and make a meaningful impact in their communities. Upon graduating from redi, graduates of the program become part of a larger alumni network of leaders. Redi and homegrown leaders regional leadership training have trained over 1,600 Rural leaders. The Rural summit brings together community leaders, policymakers, and Rural advocates from across the state and nation to engage in a thoughtful, intentional dialogue about the actions we can take today to advance policy and systems change across a broad spectrum of Rural Development issues. Finally, through our connect church and community connect programs, we locate the powerful intersection between Rural church assets and community opportunities.

Grants made by North Carolina Rural Center

GranteeGrant descriptionAmount
Array Community Development CorporationShellfish Growers Program Grant$626,747
Carolina Small Business Development FundCdfi Capacity Building Program Grants$400,000
Partner Community CapitalCdfi Capacity Building Program Grants$250,000
...and 16 more grants made

Who funds North Carolina Rural Center

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Lilly EndowmentThriving Congregations Initiative$1,250,000
Dogwood Health TrustCollaborative Broadband Initiative.$818,028
Fidelity FoundationProperty Care; Buildings; Renovation$445,000
...and 4 more grants received

Personnel at North Carolina Rural Center

NameTitleCompensation
Patrick WoodiePresident and Chief Executive Officer$250,071
Carolyn RhodesChief Operations Officer$111,617
Franklin T. Roberts, CPAChief Finance Officer$198,309
Bill StallingsChief Revenue Officer
Misty HergetChief Programs Officer$204,000
...and 26 more key personnel

Financials for North Carolina Rural Center

RevenuesFYE 06/2024
Total grants, contributions, etc.$49,884,903
Program services$627,585
Investment income and dividends$9,191,993
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$14,743
Net gain from sale of non-inventory assets$182,209
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$777,101
Total revenues$60,678,534

Form 990s for North Carolina Rural Center

Fiscal year endingDate received by IRSFormPDF link
2024-062025-01-16990View PDF
2023-062024-04-15990View PDF
2022-062023-01-27990View PDF
2021-062022-05-05990View PDF
2020-062021-05-18990View PDF
...and 10 more Form 990s

Organizations like North Carolina Rural Center

OrganizationLocationRevenue
Virginia Innovation Partnership Corporation (CIT)Herndon, VA$34,793,623
Mission Economic Development Agency (MEDA)San Francisco, CA$26,474,112
Enterprise Florida (EFI)Orlando, FL$16,140,627
Impact SevenRice Lake, WI$22,872,292
Invest DetroitDetroit, MI$29,564,845
Greater St LouisSaint Louis, MO$17,145,071
Connecticut Center for Advanced Technology (CCAT)East Hartford, CT$18,320,884
American Institute of Physics (AIP)College Park, MD$99,980,576
Fund for the City of New York (FCNY)New York, NY$67,312,664
CortexSaint Louis, MO$17,212,351
Data update history
January 14, 2025
Received grants
Identified 5 new grant, including a grant for $818,028 from Dogwood Health Trust
November 20, 2024
Updated personnel
Identified 4 new personnel
October 19, 2024
Received grants
Identified 1 new grant, including a grant for $100,000 from Z. Smith Reynolds Foundation (ZSR)
September 24, 2024
Updated personnel
Identified 17 new personnel
September 23, 2024
Updated personnel
Identified 1 new personnel
Nonprofit Types
Grantmaking organizationsPublic sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
Economic developmentBusiness and industry
Characteristics
Political advocacyLobbyingState / local levelReceives government fundingProvides scholarshipsTax deductible donationsAccepts online donations
General information
Address
4021 Carya Dr
Raleigh, NC 27610
Metro area
Raleigh-Cary, NC
County
Wake County, NC
Website URL
ncruralcenter.org/ 
Phone
(919) 250-4314
Facebook page
ncruralcenter 
Twitter profile
@ncruralcenter 
IRS details
EIN
56-1552375
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1987
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S40: Business and Industry
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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