Randolph Area Community Development Corporation
Nonprofit profile at a glance
- EIN
- 030337709
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Randolph, VT, USA
- Phone
- 8027284305
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $1,347,588
- Expenses
- $1,248,836
- Assets
- $8,256,620
- Liabilities
- $1,110,180
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- PETER REED (PRESIDENT)
Highest reported compensation
- JULIE IFFLAND (EXECUTIVE DI): $106,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Randolph area community development corporation (racdc) is a nonprofit organization that unites the community behind initiatives which strengthen our region's social and economic assets in order to enrich quality of life, instill pride, and build confidence. We do this by promoting sound development practices and investment, creating affordable housing options, preserving environmental and historic resources, and leading in the revitalization of downtown and village centers.
What it reported doing in 2024
Racdc administers several additional programs. The revolving loan fund served roughly eight residential and seven business loans in the area. The support and services at home (sash) program served approximately 80 full participants and over 100 participants of its publicly available activities and events. In addition, the downtown designation served the entire region by supporting businesses as well as supporting infrastructure improvements for the town of randolph, Vermont. Racdc reinstated events in 2021 with the cornhold festival in august 2021, safe and seen halloween in october 2021, and first fridays from may through october 2022. Racdc continued its mutual aid network known as raman (randolph area mutual aid network), which includes four towns and about a dozen local organizations. Through raman, racdc also started a community fund which racdc hosts to address community needs due to covid-19, but also with the intention of continuing raman and the community fund to address essential needs of community members in crisis going forward. The commercial building at 28 north main street is a redevelopment of a former school site into a commercial building to move a large randolph employer to a downtown location.
Operating model
- Revenue model
- Earned-program. 65% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85.6%; rating input score 86
- Program expense ratio: 87.5%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 7.3%; rating input score 56; 56th percentile among comparable filings
- Total-asset coverage ratio: 6.61; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
- Officer compensation ratio: 8.5%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings
Details
- Where the money goes: 85.6% of revenue deployed · 87.5% of spending went to programs
- Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $1.1M in reported program spending
- Leadership: top reported pay $106K · 12 people listed
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 11 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Review — Sustainability: Operating margin scored 56/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.