#114of 1,000 in 2025

Rural Economic Development Center INC

Location
Raleigh, North Carolina
Sector
Community improvement
Founded
1987
1,223%Three-year growth, FY2022 to FY2025
$57.4MFY2025 revenue
63Employees, FY2025
#7of 56 in Community improvement
#7of 40 in North Carolina

Revenue by fiscal year

FY2022: $4,341,802 $4.3M FY22 FY2023: $14,536,019 $14.5M FY23 FY2024: $52,043,432 $52.0M FY24 FY2025: $57,431,513 $57.4M FY25

We count pledges when the cash is received, not when they’re promised, so these numbers differ from Rural Economic Development Center INC’s 990. How we count pledges

Where revenue came from, FY2025

Government grants
$48.4M · 84%
Gifts and grants
$8.3M · 14%
Program revenue
$495K · 1%
Other revenue
$268K · 0%
Total revenue on the 990
$69,981,334
Investment income
− $12,981,246
Pledge payments received this year, promised in an earlier year
+ $431,425
Revenue we count
$57,431,513

What it does

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.

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.
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 1,800 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.
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

Patrick WoodiePresident & CEO
Carolyn RhodesCOO
Franklin T RobertsCFO/Asst Treasurer
Joy StewartDir of Internal Compliance and Audit
Misty HergetChief Programs Officer

EIN 56-1552375 · Full filings on ProPublica

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