2025-10-30T11:59:08-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2024-01-01 300071074 REI DEVELOPMENT CORP REID 5809245094 2912 ENTERPRISE DRIVE DURANT OK 74701 SCOTT DEWALD PRESIDENT 5809245094 2025-10-22 1 1 LORI ROTHE YOKOBOSKY P01273422 4107834900 2024 2025-03-06 01:10:19Z X SCOTT DEWALD 2912 ENTERPRISE DRIVE DURANT OK 74701 3223676 0 X WWW.REIBUSINESSLENDING.ORG X 2002 OK SEE SCHEDULE O.THE CORPORATION EXPANDS OPPORTUNITIES FOR OKLAHOMANS BY PROVIDING ECONOMIC DEVELOPMENT ACTIVITIES IN DISTRESSED AREAS OF OKLAHOMA. 7 5 0 6 0 0 0 0 2720009 3152784 84948 69635 2 1257 2804959 3223676 0 0 0 0 898284 1215732 0 0 0 1014565 1011428 1912849 2227160 892110 996516 5808833 7095537 1467442 1223731 4341391 5871806 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 0 0 2052009 3154041 SINCE 2003, REI HAS CONDUCTED ECONOMIC DEVELOPMENT IN ECONOMICALLY DISTRESSED AREAS OF OKLAHOMA BY PROVIDING INVESTMENT CAPITAL THROUGH THE NEW MARKET TAX CREDIT PROGRAMS USED TO REVITALIZE LOW INCOME COMMUNITIES IN OKLAHOMA AND ENCOURAGE BUSINESSES TO LOCATE IN THESE ECONOMICALLY DEPRESSED COMMUNITIES. 2052009 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 OK X LORI HILL 8006582823 2912 ENTERPRISE DRIVE DURANT OK 74701 CLAYTON TAYLOR DIRECTOR 1.00 1.00 X 0 0 0 JEFF GREENLEE DIRECTOR 1.00 1.00 X 0 0 0 KYLE HUGHBANKS DIRECTOR 1.00 1.00 X 0 0 0 MARTIN VANMETER DIRECTOR 1.00 1.00 X 0 0 0 SCOTT DEWALD PRESIDENT/CEO 19.00 17.00 X X 0 487375 42667 DEBBIE PARTIN EXECUTIVE VICE PRESIDENT 24.00 12.00 X 0 260220 26713 LORI HILL TRASURER/SECRETARY 23.00 13.00 X 0 250232 23040 0 997827 92420 0 0 1 0 COHNREZNICK 500 E PRATT ST BALTIMORE MD 21202 AUDIT/TAX 237015 1 OPERATING FEES 900099 1380000 1380000 MANAGEMENT FEES 900099 1164784 1164784 EXIT FEE REVENUE 900099 400000 400000 AUDIT REIMBURSEMENT IN 900099 208000 208000 3152784 11831 11831 56954 850 0 0 56954 850 57804 57804 INCOME (LOSS) FROM INV 900099 1257 1257 1257 3223676 3154041 0 69635 862221 862221 353511 353511 32254 32254 237015 237015 46350 46350 51297 51297 466235 466235 19423 19423 18657 18657 55276 55276 DUES & FEES 43822 43822 BAD DEBTS 37400 35000 2400 REPAIRS & MAINTENANCE 3699 3699 2227160 2052009 175151 0 661557 1582656 4904888 5287815 10000 30000 24980 24530 188447 132672 72834 55775 134574 114761 5808833 7095537 58602 2923 841078 403794 567762 817014 1467442 1223731 X 4341391 5871806 4341391 5871806 5808833 7095537 X 996516 510488 23411 X 0 1 X 1 0 X X X 1 RURAL ENTERPRISES OF OKLAHOMA INC 731129417 7 1 1953439 0 1 1953439 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 106922 96899 10023 81525 35773 45752 55775 DUE TO AFFILIATE 817014 817014 X 3734164 510488 510488 3223676 0 3223676 2203749 0 2203749 23411 23411 2227160 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. THE SUBSIDIARIES HAVE ELECTED TO BE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES, AND AS SUCH ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND REPORTED BY THEIR OWNERS ON THEIR RESPECTIVE TAX RETURNS. THE SUBSIDIARIES' FEDERAL TAX STATUS AS PASS-THROUGH ENTITIES IS BASED ON THEIR LEGAL STATUS AS LIMITED LIABILITY COMPANIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION AND THE SUBSIDIARIES HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE ("IRS") AND OTHER TAXING AUTHORITIES. INCOME TAX RETURNS FILED BY THE CORPORATION AND THE SUBSIDIARIES ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS OF THE CORPORATION ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2021 REMAIN OPEN. DUE TO A LACK OF ACTIVITY, THE SUBSIDIARIES DID NOT HAVE A FILING REQUIREMENT DURING THE YEARS ENDED DECEMBER 31, 2024 AND 2023. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEV CORP INVESTMENT FEES 23,411. 0 0 0 0 0 1 1 0 0 SCOTT DEWALD PRESIDENT/CEO 0 333697 0 141640 0 12038 0 27487 0 15180 0 530042 0 0 DEBBIE PARTIN EXECUTIVE VICE PRESIDENT 0 196012 0 63369 0 839 0 16106 0 10607 0 286933 0 0 LORI HILL TRASURER/SECRETARY 0 187234 0 60254 0 2744 0 15315 0 7725 0 273272 0 0 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. FORM 990, PART VI, SECTION A, LINE 6 SEE LINE 7B EXPLANATION FORM 990, PART VI, SECTION A, LINE 7A SEE LINE 7B EXPLANATION FORM 990, PART VI, SECTION A, LINE 7B RURAL ENTERPRISES OF OKLAHOMA, INC., AN OKLAHOMA NONPROFIT CORPORATION, IS THE SOLE MEMBER OF THE ORGANIZATION. THE FOLLOWING MATTERS MUST RECEIVE APPROVAL BY THE SOLE MEMBER OF THE ORGANIZATION: A) THE AMENDMENT, RESTATEMENT OR REPEAL OF THE CERTIFICATE OF INCORPORATION OR THE BYLAWS; B) THE ELECTION OF THE DIRECTORS C) THE ELECTION OF THE PRESIDENT D) THE MERGER, CONSOLIDATION OR DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS E) THE DISSOLUTION, LIQUIDATION OR TERMINATION OF THE BUSINESS F) A MATERIAL CHANGE IN THE PURPOSE FOR WHICH IT WAS FORMED G) THE SELECTION OR REPLACEMENT OF THE INDEPENDENT AUDITORS H) THE FILING OF A VOLUNTARY PETITION UNDER ANY LAW HAVING FOR ITS PURPOSE THE ADJUDICATION OF THE ORGANIZATION AS BANKRUPT OR INSOLVENT OR THE TAKING ANY ACTION WITH RESPECT TO THE REORGANIZATION OR LIQUIDATION. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS SUBMITTED ELECTRONICALLY TO THE FULL BOARD FOR REVIEW PRIOR TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL STAFF AND BOARD MEMBERS REVIEW, SIGN AND LIST ANY RELATIONSHIPS THAT EXIST THAT NEED TO BE DISCLOSED. THE POLICY IS FURTHER REVIEWED BY STAFF DURING AN ANNUAL FULL STAFF MEETING. THE POLICY IS FURTHER REVIEWED AT LEAST ANNUALLY DURING BOARD TRAININGS AND DURING BOARD MEETINGS. BOARD MEMBERS ACKNOWLEDGE POLICY WHEN SIGNING IN AT EACH MEETING ROLL CALL. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT COMPENSATION ANALYSIS FIRM IS ENGAGED TO PROVIDE A REVIEW AND WAGE COMPARISON STUDY. COMPENSATION OF THE CEO IS DETERMINED BY THE BOARD BASED ON THE RECOMMENDATIONS OF THE EXECUTIVE EVALUATION COMMITTEE COMPRISED OF A SUBSET OF BOARD MEMBERS THE EVALUATION COMMITTEE REVIEWS THE FULL BENEFIT PACKET ANNUALLY THE HR COORDINATOR COMPLIES INDEPENDENT COMPARATIVE DATA TO BE REVIEWED BY THE EVALUATION COMMITTEE AND BOARD THE ANALYSIS AND REVIEW INVOLVES A WAGE COMPARISON ANALYSIS WITH LIKE POSITIONS IN THE AREA, WITH COMPARABLE ORGANIZATIONS, AND A FULL PERFORMANCE EVALUATION REVIEW INVOLVING A FULL BOARD SURVEY IN ADDITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATIONS HEADQUARTERS OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST. FORM 990, PART XI, LINE 9: DEV CORP INVESTMENT FEES 23,411. FORM 990, PART VI, SECTION A, LINE 8 ALL BOARD MEETINGS ARE PROPERLY RECORDED BY THE SECRETARY. MINUTES OF EACH MEETING ARE ACTED UPON AT THE NEXT REGULAR MEETING. REI SUBSIDIARY CDE 1 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 471039851 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 2 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 471044547 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 3 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 471058299 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 4 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 472538657 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 5 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 472550842 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 6 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 472564988 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 7 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 474990969 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 8 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 474998916 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP REI SUBSIDIARY CDE 9 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 475011908 ECONOMIC DEVE OK 0 0 REI DEVELOPMENT CORP RURAL ENTERPRISES OF OKLAHOMA INC 2912 ENTERPRISE BLVD DURANT OK 74702 731129417 ECONOMIC OK 501(C)(3) LINE 7 N/A 0 OK ANGEL FUND 1 LP 2912 ENTERPRISE BOULEVARD DURANT OK 74701 812026321 ECONOMIC DEVE OK N/A RELATED -2299 38788 0 0 0.03980 REI SUBSIDIARY CDE 10 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 475024206 ECONOMIC DEVE OK N/A RELATED 136 7458 0 1 0.00100 REI SUBSIDIARY CDE 11 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 475035156 ECONOMIC DEVE OK N/A RELATED 665 0 1 1.00000 REI SUBSIDIARY CDE 12 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 475049161 ECONOMIC DEVE OK N/A RELATED 229 0 1 1.00000 REI SUBSIDIARY CDE 13 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 815094898 ECONOMIC DEVE OK N/A RELATED 75 7391 0 1 0.00010 REI SUBSIDIARY CDE 14 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 815122606 ECONOMIC DEVE OK N/A RELATED 5 581 0 1 0.00010 REI SUBSIDIARY CDE 15 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 815128562 ECONOMIC DEVE OK N/A RELATED 18 1900 0 1 0.00010 REI SUBSIDIARY CDE 16 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 815144815 ECONOMIC DEVE OK N/A RELATED 9 1457 0 1 0.00010 REI SUBSIDIARY CDE 17 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 815166919 ECONOMIC DEVE OK N/A RELATED 5 500 0 1 0.00010 REI SUBSIDIARY CDE 18 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 824409084 ECONOMIC DEVE OK N/A RELATED 5 972 0 1 0.00010 REI SUBSIDIARY CDE 19 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 824424642 ECONOMIC DEVE OK N/A RELATED 21 3000 0 1 0.00010 REI SUBSIDIARY CDE 20 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 824446792 ECONOMIC DEVE OK N/A RELATED 14 2450 0 1 0.00010 REI SUBSIDIARY CDE 21 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 824457080 ECONOMIC DEVE OK N/A RELATED 10 700 0 1 0.00010 REI SUBSIDIARY CDE 22 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 824471000 ECONOMIC DEVE OK N/A RELATED 12 727 0 1 0.00010 REI SUBSIDIARY CDE 23 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 841895157 ECONOMIC DEVE OK N/A RELATED 8 1000 0 1 0.00010 REI SUBSIDIARY CDE 24 LLC 2912 ENTERPRISE BLVD DURANT OK 74701 841904628 ECONOMIC DEVE OK N/A RELATED 6 600 0 1 0.00010 REI SUBSIDIARY CDE 25 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 841920443 ECONOMIC DEVE OK N/A RELATED 15 2000 0 1 0.00010 REI SUBSIDIARY CDE 26 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 841935777 ECONOMIC DEVE OK N/A RELATED 11 1500 0 1 0.00010 REI SUBSIDIARY CDE 27 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 884250797 ECONOMIC DEVE OK N/A RELATED 14 2000 0 1 0.00010 REI SUBSIDIARY CDE 28 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 920917834 ECONOMIC DEVE OK N/A RELATED 6 1000 0 1 0.00010 REI SUBSIDIARY CDE 29 LLC 2912 ENTERPRISE BOULEVARD DURANT OK 74701 884257747 ECONOMIC DEVE OK N/A RELATED 2 1600 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1