Region V Community Development Corporation

Nonprofit profile at a glance

EIN
450435966
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fargo, ND, USA
Phone
7012322452
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$657,935
Expenses
$844,200
Assets
$8,847,847
Liabilities
$5,335,783

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Raymon Nelson (President)
  • Cheri Jahner (Vice President)
  • Brandon Kjelden (Executive Director)

Highest reported compensation

  • Brandon Kjelden (Executive Director): $155,657 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Region V Community Development Corporation has a principal purpose of planning, developing, owning, and managing affordable housing projects in southeastern North Dakota. These projects benefit lower income households, which are households with an annual income that does not exceed 80 percent of the county median income level.

What it reported doing in 2024

The Region V Community Development Corporation (RVCDC "the Corporation") has a principal purpose of planning, developing, owning, and managing affordable housing projects in southeastern North Dakota. The Corporation develops and manages housing for low income, aged and/or handicapped individuals and their families across the state of North Dakota.The RVCDC has the capacity and experience to develop affordable housing projects. As a developer, the RVCDC performs market analysis, environmental reviews, site selection, feasibility analysis, financial Continued on Schedule O...statements, project design, rehabilitation, new construction, marketing, and other functions. Projects developed by the Corporation include the rehabilitation of existing buildings, new construction, and single family developments. RVCDC has developed over 100 units of affordable housing in the communities of Lisbon, Gwinner, Hankinson, Hatton, Milnor, Northwood, Casselton, West Fargo, and Fargo. The type of projects developed include: multifamily rental housing, single family homeownership, and special need housing. After housing projects are developed, the RVCDC becomes involved with the operational phase that includes sales and marketing, leasing, and property management. As a property manager, the RVCDC's goal is to provide all services necessary and customary to ensure the proper management, maintenance, and operation of the housing project. As a housing developer and manager, RVCDC is responsible for making decisions to enhance the performance of a project, extend the economic life of the buildings, and maximize return on asset.The Corporation also owns and operates the following:- Sunset Village - a two-building complex consisting of twelve townhome apartment units in Lisbon, North Dakota.- Valley View First Addition - an investment consisting of residential lots in Lisbon, North Dakota, which are being held for sale.- Early Head Start building - a building owned by the Corporation that is leased by SENDCAA for use as a child development center.- Head Start South building - a building owned by the Corporation that is leased by SENDCAA for use as a child development center.- Prairie Pointe- a 17 unit residential rental property in Gwinner, North Dakota.- Grace Village - a two-building complex consisting of twelve townhome apartment units in Hankinson, North Dakota. - Heritage Village Limited Partnership - a 6 unit residential housing project in Milnor, North Dakota. - Homestead Commons Limited Partnership - a 6 unit housing project in Gwinner, North Dakota. - Hearthstone Village Limited Partnership - a 8 unit housing project in Hatton, North Dakota. - Dakotah Pioneer Limited Partnership a 31-unit residential housing project, in Fargo, North Dakota that includes approximately 9,450 square feet of commercial space.

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 67
  • Accountability: 84
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.5%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -28.3%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 10.48; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 4.8%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $789K in reported program spending
  • Leadership: top reported pay $156K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 14 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.