Totals
- Total revenue
- $2,804,959
- Total expenses
- $1,912,849
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $2,720,009
- Investment income
- $84,948
- Other revenue
- $2
- Total assets, end of year
- $5,808,833
- Total liabilities, end of year
- $1,467,442
- Net assets or fund balances, end of year
- $4,341,391
- Program services expenses (Part IX)
- $1,757,214
- Management and general expenses
- $155,635
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,757,214
Program services were 91.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: MANAGEMENT FEES
total $1,117,009 · related or exempt $1,117,009
-
2b · Program service revenue: OPERATING FEES
total $1,050,000 · related or exempt $1,050,000
-
2c · Program service revenue: EXIT FEE REVENUE
total $341,000 · related or exempt $341,000
-
2d · Program service revenue: REIMBURSEMENT INCOME
total $212,000 · related or exempt $212,000
-
3 · Investment income
total $6,675 · excluded $6,675
-
7a · Gross sales of assets other than inventory
securities $69,273 · other assets $9,000
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $0
-
7c · Gain or loss
securities $69,273 · other assets $9,000
-
7d · Net gain or loss
total $78,273 · excluded $78,273
-
11a · Other revenue: INCOME (LOSS) FROM INV
total $2 · related or exempt $2
-
11e · Other revenue, total
$2
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $650,930 · program services $650,930
-
9 · Other employee benefits
total $247,354 · program services $247,354
-
11b · Fees: legal
total $39,268 · program services $39,268
-
11c · Fees: accounting
total $229,900 · program services $229,900
-
11g · Fees: other
total $166,650 · program services $166,650
-
13 · Office expenses
total $51,589 · management and general $51,589
-
17 · Travel
total $353,602 · program services $353,602
-
19 · Conferences, conventions and meetings
total $19,602 · program services $19,602
-
22 · Depreciation, depletion and amortization
total $16,357 · management and general $16,357
-
23 · Insurance
total $54,529 · management and general $54,529
-
24a · Other expenses: BAD DEBTS
total $43,750 · program services $43,750
-
24b · Other expenses: DUES & FEES
total $30,013 · management and general $30,013
-
24c · Other expenses: REALIZED LOSS ON INVEST
total $6,158 · program services $6,158
-
24d · Other expenses: REPAIRS & MAINTENANCE
total $3,147 · management and general $3,147
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $865,498 · end of year $661,557
-
2 · Savings and temporary cash investments
beginning of year $4,405,394 · end of year $4,904,888
-
4 · Accounts receivable
beginning of year $9,288 · end of year $10,000
-
9 · Prepaid expenses and deferred charges
beginning of year $25,364 · end of year $24,980
-
10a · Land, buildings and equipment: cost or other basis
$222,623
-
10b · Land, buildings and equipment: accumulated depreciation
$149,789
-
10c · Land, buildings and equipment, net
beginning of year $5,436 · end of year $72,834
-
13 · Investments: program-related
beginning of year $172,429 · end of year $134,574
-
17 · Accounts payable and accrued expenses
beginning of year $5,874 · end of year $58,602
-
19 · Deferred revenue
beginning of year $1,419,337 · end of year $841,078
-
25 · Other liabilities
beginning of year $1,212,979 · end of year $567,762
-
27 · Net assets without donor restrictions
beginning of year $2,845,219 · end of year $4,341,391
Mission and programs · 2023
Mission
REI DEVELOPMENT CORP EXPANDS OPPORTUNITIES FOR OKLAHOMANS BY PROVIDING ECONOMIC DEVELOPMENT ACTIVITIES IN DISTRESSED AREAS OF OKLAHOMA UTILIZING FEDERAL TAX CREDIT PROGRAMS TO ENCOURAGE BUSINESSES TO LOCATE IN THESE AREAS. CONTINUED ON SCHEDULE O
Activities or mission (Part I)
SEE SCHEDULE O.THE CORPORATION EXPANDS OPPORTUNITIES FOR OKLAHOMANS BY PROVIDING ECONOMIC DEVELOPMENT ACTIVITIES IN DISTRESSED AREAS OF OKLAHOMA.
-
SINCE 2003, REI HAS CONDUCTED ECONOMIC DEVELOPMENT IN ECONOMICALLYDISTRESSED AREAS OF OKLAHOMA BY PROVIDING INVESTMENT CAPITALTHROUGH THE NEW MARKET TAX CREDIT PROGRAMS USED TO REVITALIZE LOWINCOME COMMUNITIES IN OKLAHOMA AND ENCOURAGE BUSINESS TO LOCATE INTHESE ECONOMICALLY DEPRESSED COMMUNITIES.
Expenses $1,757,214 · Revenue $2,720,011
As filed on the 2023 return.
Listed in Part VII
-
Gary SherrerGARY SHERRER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jeff GreenleeJEFF GREENLEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kyle HughbanksKYLE HUGHBANKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Martin VanmeterMARTIN VANMETER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Scott DewaldSCOTT DEWALD
PRESIDENT/CEO
- Total calculated
- $493,301
- From this org
- $0
- From related orgs
- $444,146
- Other
- $49,155
- Hours/week
- 19 + 17 related
Schedule J breakdown matched by us
- Base
- $0 + $367,657 related
- Bonus
- $0 + $67,582 related
- Other
- $0 + $8,907 related
- Deferred
- $0 + $24,373 related
- Nontaxable benefits
- $0 + $24,782 related
- Filer's total
- $0 + $493,301 related
-
Debbie PartinDEBBIE PARTIN
EXECUTIVE VICE PRESIDENT
- Total calculated
- $275,628
- From this org
- $0
- From related orgs
- $247,991
- Other
- $27,637
- Hours/week
- 24 + 12 related
Schedule J breakdown matched by us
- Base
- $0 + $217,316 related
- Bonus
- $0 + $30,675 related
- Other
- $0
- Deferred
- $0 + $15,284 related
- Nontaxable benefits
- $0 + $12,353 related
- Filer's total
- $0 + $275,628 related
-
Lori HillLORI HILL
TRASURER/SECRETARY
- Total calculated
- $259,499
- From this org
- $0
- From related orgs
- $243,573
- Other
- $15,926
- Hours/week
- 19 + 17 related
Schedule J breakdown matched by us
- Base
- $0 + $214,406 related
- Bonus
- $0 + $29,167 related
- Other
- $0
- Deferred
- $0 + $14,533 related
- Nontaxable benefits
- $0 + $1,393 related
- Filer's total
- $0 + $259,499 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- YES, REI DC HAS A SHARED SERVICES AGREEMENT WITH RURAL ENTERPRISES AND REI DC ADOPTS AND ADHERES TO THE POLICIES, WHICH INCLUDE THE ANNUAL COMPENSATION REVIEW FOR THE REI DC PRESIDENT AND OFFICERS
- PART I, LINE 6
- THE ORGANIZATION PAYS OUT INCENTIVE COMPENSATION BASED ON TWO GOALS, WHICH INCLUDE THE NET EARNINGS OF REI DEVELOPMENT CORPORATION AND RURAL ENTERPRISES OF OK, A RELATED ORGANIZATION. THIS IS PART OF THE OVERALL INCENTIVE PLAN STRUCTURE AS DESCRIBED FOR PART I, LINE 5A.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
RURAL ENTERPRISES OF OKLAHOMA INC
501(C)(3) · ECONOMIC · OK
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
REI SUBSIDIARY CDE 1 LLC
ECONOMIC DEVE · OK · income $0 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 2 LLC
ECONOMIC DEVE · OK · income $0 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 3 LLC
ECONOMIC DEVE · OK · income $0 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 4 LLC
ECONOMIC DEVE · OK · income $0 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 5 LLC
ECONOMIC DEVE · OK · income $480 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 6 LLC
ECONOMIC DEVE · OK · income $0 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 7 LLC
ECONOMIC DEVE · OK · income $168 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 8 LLC
ECONOMIC DEVE · OK · income $209 · assets $0
Directly controlled by REI DEVELOPMENT CORP
-
REI SUBSIDIARY CDE 9 LLC
ECONOMIC DEVE · OK · income $338 · assets $0
Directly controlled by REI DEVELOPMENT CORP
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
OK ANGEL FUND 1 LP
RELATED · ECONOMIC DEVE · OK · 3.98% owned · share of income -$1,371 · share of assets $72,320
-
REI SUBSIDIARY CDE 10 LLC
RELATED · ECONOMIC DEVE · OK · 0.1% owned · share of income $122 · share of assets $7,322 · general or managing partner
-
REI SUBSIDIARY CDE 11 LLC
RELATED · ECONOMIC DEVE · OK · 0.1% owned · share of income $108 · share of assets $19,468 · general or managing partner
-
REI SUBSIDIARY CDE 12 LLC
RELATED · ECONOMIC DEVE · OK · 0.1% owned · share of income $140 · share of assets $4,870 · general or managing partner
-
REI SUBSIDIARY CDE 13 LLC
RELATED · ECONOMIC DEVE · OK · 0.1% owned · share of income $150 · share of assets $7,498 · general or managing partner
-
REI SUBSIDIARY CDE 14 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $5 · share of assets $584 · general or managing partner
-
REI SUBSIDIARY CDE 15 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $18 · share of assets $1,900 · general or managing partner
-
REI SUBSIDIARY CDE 16 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $9 · share of assets $1,464 · general or managing partner
-
REI SUBSIDIARY CDE 17 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $5 · share of assets $500 · general or managing partner
-
REI SUBSIDIARY CDE 18 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $5 · share of assets $977 · general or managing partner
-
REI SUBSIDIARY CDE 19 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $21 · share of assets $3,000 · general or managing partner
-
REI SUBSIDIARY CDE 20 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $14 · share of assets $2,460 · general or managing partner
-
REI SUBSIDIARY CDE 21 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $10 · share of assets $700 · general or managing partner
-
REI SUBSIDIARY CDE 22 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $12 · share of assets $715 · general or managing partner
-
REI SUBSIDIARY CDE 23 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $8 · share of assets $1,000 · general or managing partner
-
REI SUBSIDIARY CDE 24 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $6 · share of assets $600 · general or managing partner
-
REI SUBSIDIARY CDE 25 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $13 · share of assets $2,000 · general or managing partner
-
REI SUBSIDIARY CDE 26 LLC
RELATED · ECONOMIC DEVE · OK · 0.01% owned · share of income $3 · share of assets $1,500 · general or managing partner
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 29 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202422509349300602
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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