Nonprofit · EIN 03-0337709
RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · RANDOLPH, VT 05060
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,347,588 | $1,248,836 | $98,752 | $8,256,620 | $1,110,180 | $7,146,440 |
| December 31, 2023 | 990 | $1,336,191 | $622,171 | $714,020 | $8,393,542 | $1,351,960 | $7,041,582 |
| June 30, 2023 | 990 | $1,057,558 | $1,060,863 | -$3,305 | $7,135,312 | $807,750 | $6,327,562 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $436,301
- of which government grants
- $261,660
- Program service revenue
- $834,623
- Investment income
- $70,000
- Net gain from sales of assets
- $70,000
- Other revenue
- $6,664
Expenses
- Grants and similar amounts paid
- $3,039
- Compensation of officers, directors and key employees
- $106,000
- Other salaries and wages
- $426,474
- Salaries, compensation and benefits (total)
- $648,886
- Professional fundraising fees
- $0
- Legal fees
- $2,371
- Accounting fees
- $9,350
- Occupancy
- $135,689
- Travel
- $1,913
- Depreciation
- $129,789
- Program services (functional)
- $1,093,339
- Management and general (functional)
- $155,497
Balance sheet and other
- Total assets, start of year
- $8,393,542
- Total assets, end of year
- $8,256,620
- Total liabilities, end of year
- $1,110,180
- Net assets, end of year
- $7,146,440
- Land, buildings and equipment
- $3,416,308
- Net assets without donor restrictions
- $6,731,441
- Net assets with donor restrictions
- $414,999
- Gross receipts
- $1,347,588
- Employees
- 23
- Volunteers
- 25
- Year formed
- 1993
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIE IFFLAND | EXECUTIVE DI Officer | 40 | $100,000 | $6,000 |
| PETER REED | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| DANIEL DEVOE | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT WRIGHT | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| MATHEW JOHNSON | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| SAM HOOPER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHRISTINE MALONEY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT SPARADEO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| EILEEN LONDON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSH HANFORD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TOM AYRES LEFT JANUARY 2024 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DAN BENNETT LEFT OCTOBER 2024 | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIE IFFLAND | EXECUTIVE DI Officer | 38 | $110,000 | $6,543 |
| PETER REED | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| DANIEL DEVOE | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT WRIGHT | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| TOM AYRES | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| CHRISTINE MALONEY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DAN BENNETT | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SAM HOOPER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT SPARADEO | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIE IFFLAND | EXECUTIVE DI Officer | 38 | $89,535 | $5,500 |
| PETER REED | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| DANIEL DEVOE | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT WRIGHT | TREASURER (I Trustee or director, Officer | 2 | $0 | $0 |
| TOM AYRES | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| CHRISTINE MALONEY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DAN BENNETT | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT SPARADEO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SAM HOOPER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| PATRICK FRENCH LEFT MAY 2023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT MOYER LEFT JUNE 2023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MIRANDA HOLSON LEFT MAY 2023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| NIKKI WARE LEFT NOVEMBER 2022 | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 409, RANDOLPH, VT 05060-0409
- In care of
- % COMPUCOUNT INC
- Principal officer (990 for 2024)
- PETER REED, PO BOX 409, RANDOLPH, VT 05060
- Signed the 990
- PETER REED, EXECUTIVE DIRECTOR
- Phone
- (802) 728-4305
- Website
- WWW.RACDC.COM
- Return prepared by
- JMM & ASSOCIATES PC
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.
Program accomplishments
- JOSLYN HOUSE IS A SHARED HOUSING FACILITY WITH SUPPORTIVE SERVICES PRIMARILY FOR LOW AND MODERATE INCOME INDIVIDUALS, AND IS RESTRICTED TO SUCH BY AFFORDABILITY COVENANTS. JOSLYN HOUSE PROVIDED AFFORDABLE HOUSING FOR APPROXIMATELY TWENTY-SIX (26).Expenses $359,312 · revenue $395,848
- ARMSTRONG MOBILE HOME PARK CONSISTS OF 16 MOBILE HOME LOTS AND A HOUSE THAT INCLUDES ONE 2-BEDROOM AND ONE 1-BEDROOM UNIT, FOR LEASE TO A MIX OF PRIMARILY LOW AND MODERATE INCOME FAMILIES, AND IS RESTRICTED TO SUCH USE BY AFFORDABILITY COVENANTS. ARMSTRONG MOBILE HOME PARK PROVIDED AFFORDABLE HOUSING FOR APPROXIMATELY TWENTY-ONE (21).Expenses $123,274 · revenue $92,176
- JACOBS MOBILE HOME PARK CONSISTS OF 19 MOBILE HOME LOTS FOR LEASE TO A MIX OF PRIMARILY LOW AND MODERATE INCOME FAMILIES, AND IS RESTRICTED TO SUCH USE BY AFFORDABILITY COVENANTS. JACOBS MOBILE HOME PARK PROVIDED AFFORDABLE HOUSING FOR APPROXIMATELY TWENTY-FIVE (25).Expenses $44,593 · revenue $83,163
- 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.Expenses $566,160 · grants $3,039 · revenue $263,436
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0337709
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $8,256,620
- Income (IRS master file)
- $1,347,588
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,347,588 | $1,248,836 | $8,256,620 | XML |
| 990 | December 2023 | $1,336,191 | $622,171 | $8,393,542 | XML |
| 990 | June 2023 | $1,057,558 | $1,060,863 | $7,135,312 | XML |
| 990 | June 2022 | $3,750,856 | $1,007,506 | $7,323,571 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0337709).
Questions about RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION is 03-0337709.
- Is RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names PETER REED.
- Who are the officers and directors of RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 12 people; 1 received compensation from the organization, the highest $100,000 (JULIE IFFLAND, EXECUTIVE DI).
- How much revenue does RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,347,588, expenses of $1,248,836 and total assets of $8,256,620 at year end.
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