Rural Enterprises of Oklahoma Inc

Nonprofit profile at a glance

EIN
731129417
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Durant, OK, USA
Phone
5809245094
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Rural Economic Development

Official website

Reported finances

Revenue
$6,778,906
Expenses
$5,591,626
Assets
$38,133,420
Liabilities
$2,359,494

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

Leadership & pay

21 people listed

Executive titles in this filing

  • SCOTT DEWALD (PRESIDENT/CEO)

Highest reported compensation

  • SCOTT DEWALD (PRESIDENT/CEO): $530,042 total reported compensation
  • SHERRY HARLIN (COO): $359,122 total reported compensation
  • DEBBIE PARTIN (SVP-LENDING): $286,933 total reported compensation

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

Overview

Mission

Rei Oklahoma expands economic opportunities for oklahomans by providing flexible financing and development services to individuals, businesses, and entrepreneurs with limited access to resources.

What it reported doing in 2024

Rural enterprises of Oklahoma, inc. Offers multiple housing opportunities for eligible borrowers throughout the state of Oklahoma. The programs includes an offering of down payment assistance. Rei also provides financing in the form of loans for housing projects serving very low and low income tenants.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.9%; rating input score 59
  • Program expense ratio: 66.1%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.5%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 6.82; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 44.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 58.9% of revenue deployed · 66.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $3.7M in reported program spending
  • Leadership: top reported pay $530K · 21 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.