2024-12-02T11:46:13-06:00 2024-06-30 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 1297 BISMARCK ND 585021297 990 2023-07-01 456002345 NORTH DAKOTA RURAL REHABILITATION CORP NORT 7012235810 222 SOUTH 12TH STREET BISMARCK ND 58504 WILLIAM FORTIER PRESIDENT 7012235810 2024-11-15 1 1 LANCE RAMBOUSEK P01212867 7012231717 2024-11-15 2023 2024-10-15 13:58:12Z WILLIAM FORTIER 222 SOUTH 12TH STREET BISMARCK ND 58504 12691515 0 X N/A X 1934 ND PROVIDE LOW INTEREST RATE LOANS TO DISTRESSED FARM FAMILIES IN THE STATE OF NORTH DAKOTA WHO DO NOT HAVE OTHER MEANS OF OBTAINING FINANCING. 6 3 4 0 0 0 0 0 1644688 1876098 654240 1403091 9284734 9412326 11583662 12691515 351586 638404 0 0 434869 470431 0 0 0 126420 172428 912875 1281263 10670787 11410252 82220993 93558577 78104 5436 82142889 93553141 X THE NORTH DAKOTA RURAL REHABILITATION CORPORATION IS A CHARITABLE NON-PROFIT, CHARITABLE CORPORATION COMMITTED TO PROVIDING LOW INTEREST LOANS AND GRANT TO QUALIFYING NORTH DAKOTA FARMERS, RANCHERS, COOPERATIVES, NON-PROFIT AND PUBLIC ENTITIES, THE PRIMARY PURPOSE OF WHICH IS TO ASSIST IN THE DEVELOPMENT, REHABILITATION AND ENHANCEMENT OF THE ECONOMIC, EDUCATION, SOCIAL, INFRASTRUCTURE AND PUBLIC SAFETY OPPORTUNITIES IN THEIR INDIVIDUAL OPERATIONS AND THEIR RURAL NORTH DAKOTA COMMUNITIES IN A MANNER THAT ADDS TO THE QUALITY OF LIFE OF LOW INCOME FARMERS, RANCHERS AND OTHER LOW INCOME RURAL RESIDENTS AND IS CONSISTENT WITH ITS CORPORATE AUTHORITY. 0 0 680264 638404 NDRRC PROVIDES NUMEROUS GRANTS AND SCHOLARSHIPS THROUGHOUT THE YEAR. NDRRC GIVES TUITION ASSISTANCE TO FARMERS AND RANCHERS TO PARTICIPATE IN FARM BUSINESS MANAGEMENT PROGRAMS SPONSORED BY THE NORTH DAKOTA VOCATIONAL AGRICULTURAL SCHOOLS. TUITION ASSISTANCE IS ALSO GIVEN FOR ARTIFICIAL INSEMINATION SCHOOLS THROUGHOUT THE STATE. NDRRC SUPPORTS THE AMBASSADORS PROGRAM OF THE NORTH DAKOTA 4-H FOUNDATION AS WELL AS THE NORTH DAKOTA FFA FOUNDATION. NDRRC ALSO PROVIDES INDIVIDUAL GRANTS ON A CASE-BY-CASE BASIS AS WELL AS GRANTS TO INSTITUTIONAL ENTITIES BENEFITTING INDIVIDUAL FARMERS AND RANCHERS TO REHABILITATE THEIR FARMING OPERATIONS. THE NDRRC ALSO HAS A FRESHMAN CAREER SCHOLARSHIP WHICH IS AVAILABLE TO FAMILY MEMBERS OF NDRRC'S BORROWERS WHO ARE INTENDING TO CONTINUE THEIR EDUCATION AFTER GRADUATION FROM HIGH SCHOOL. NDRRC PROVIDED GRANTS TO OVER 100 INDIVIDUALS AND ORGANIZATIONS DURING THE CURRENT YEAR. 206368 1396028 REAL ESTATE LOANS--ND RURAL REHABILITATION CORPORATION (NDRRC) PARTICIPATES WITH THE FARM SERVICE AGENCY (FSA) IN PROVIDING REAL ESTATE LOANS TO NORTH DAKOTA FARMERS AND RANCHERS WHO ARE UNABLE TO SECURE CONVENTIONAL CREDIT. THESE LOANS HAVE BEEN FOR BORROWERS WITH FSA LOANS WHERE FSA SUBORDINATES THEIR LIEN TO THIS CORPORATION. NDRCC ALSO PROVIDES DIRECT REAL ESTATE LOANS TO FARMERS AND RANCHERS WHO ARE UNABLE TO SECURE CONVENTIONAL CREDIT. SOME OF THESE LOAN REQUESTS ARE SUBMITTED BY CREDIT COUNSELORS ON BEHALF OF THEIR CLIENTS AND SOME FARMERS AND RANCHERS COME DIRECTLY TO THE CORPORATION THEMSELVES. THE LOANS MAY INVOLVE REFINANCE OF EXISTING FIRST MORTGAGE LOANS WHICH ARE EITHER BEING TERMINATED OR HAVE SUCH HIGH INTEREST RATES THAT THE OPERATORS NO LONGER HAVE AN ADEQUATE CASH FLOW TO SUCCEED. LOANS FOR THE PURCHASE OF LAND ARE ALSO MADE. NDRCC REQUIRES A FIRST MORTGAGE. NDRCC HAD APPROXIMATELY 138 LOANS TO FARMERS AND RANCHERS OUTSTANDING DURING THE CURRENT YEAR WITH AN OUTSTANDING BALANCE IN EXCESS OF $33,808,215. 480070 STARTING FARMER LOANS: THESE LOANS ARE MADE TO INDIVIDUALS STARTING FARM AND RANCH OPERATIONS AND ARE SECURED BY A FIRST MORGAGE ON REAL ESTATE. NDRRC HAD LOANS TO APPROXIMATELY 77 FARMERS AND RANCHERS IN THE CURRENT YEAR. 886632 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 254 0 1 4 1 0 0 0 0 0 0 0 0 0 0 X 6 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TANYA KEITH 7012235810 222 SOUTH 12TH STREET BISMARCK ND 58504 WILLIAM FORTIER PRESIDENT 20.00 X X 71975 0 0 KENNETH L DALSTED SEC./TREAS. 10.00 X X 64390 0 0 DONALD C GIFFEY DIRECTOR 10.00 X 31578 0 0 JASON SILLERS VICE PRESIDENT 10.00 X X 16700 0 0 H ROALD LUND DIRECTOR 10.00 X 16450 0 0 SHANA FORSTER DIRECTOR 10.00 X 21450 0 0 LUELLA DUNN DIRECTOR (TERM 3/2023) 10.00 X 3300 0 0 TERESE BERG BUSINESS MANAGER 40.00 X 113331 0 0 339174 0 0 1 0 0 0 0 LOW-INT. LOAN INCOME 525990 1876098 1876098 1876098 1403091 1403091 9412326 9412326 12691515 1876098 0 10815417 573668 573668 64736 64736 241157 105910 135247 165304 88315 76989 30691 9247 21444 6419 3429 2990 26860 14858 12002 8969 8969 14965 14965 13937 13937 47000 47000 5024 5024 MISCELLANEOUS 36253 36253 DIRECTORS EXPENSE 20775 20775 APPRAISAL FEES 17500 17500 UTILITIES 4133 4133 3872 3872 1281263 886632 394631 0 4401978 3499080 2127780 5745019 47488820 62427652 220590 148756 74784 71834 28126648 21814009 983 983 82220993 93558577 78104 5436 78104 5436 X 82142889 93553141 82142889 93553141 82220993 93558577 11410252 0 X X 0 1 X 1 0 97154 33194 63960 123436 115562 7874 71834 X 12691515 0 12691515 0 12691515 1281263 0 1281263 0 1281263 PART X, LINE 2: THE CORPORATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE CORPORATION HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART X, LINE 2 THE CORPORATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE CORPORATION HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. 1 ND ASSOCIATION OF RURAL ELECTRIC COOP 3201 NYGREN DR NW MANDAN ND 58554 450231058 501(C)(6) 458788 0 BEARCAT DEN DAYCARE, DAKOTA ESTATES RETIREMENT CTR, HAZELTON GROCERY, RAMSEY COUNTY EVENT CENTER FARM RESCUE PO BOX 1100 JAMESTOWN ND 58402 753174053 501(C)(3) 25000 0 OPERATING NORTH DAKOTA LAMB AND WOOL PRODUCERS ASSOCIATION 11936 79TH ST SE STIRUM ND 58069 450393121 501(C)(5) 12960 0 PERPETUAL FLOCK GRANT NORTH DAKOTA 4-H FOUNDATION INC NDSU DEPT 7280 FARGO ND 58108 456012061 501(C)(3) 30000 0 4-H CAMP SCHOLARSHIPS, AMBASSADOR PROGRAMS ND FARMERS MARKET AND GROWERS ASSOCIATION 105 SIMRALL BLVD BOTTINEAU ND 58318 371551530 501(C)(6) 42420 0 ASSIST IN SMALL AG RELATED BUSINESS, RURAL COMMUNITIES AND FARMERS' MARKETS 2 3 FARM BUSINESS MANAGEMENT TRAINING ASSISTANCE 70 46586 HIGHER EDUCATION SCHOLARSHIPS 6 12000 ARTIFICIAL INSEMINATION SCHOOL GRANTS 23 4650 PART I, LINE 2: NDRRC FUNDS ALL ASSISTANCE DIRECTLY TO THE SCHOOL OR ORGANIZATION PROVIDING THE SERVICES AND OBTAINS A LISTING OF THE PARTICIPANTS THAT WERE ASSISTED. NDRRC REQUESTS A FINAL LETTER/REPORT ON THE USE OF THE FUNDS BY THE ORGANIZATION TO SUPPORT THEIR CHARITABLE USE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS SENT TO THE BOARD OF DIRECTORS BEFORE ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR ANNUALLY SIGNS A STATEMENT WHICH HE/SHE HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS NDRRC IS CHARITABLE AND MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE PRESIDENT MONITORS THE ENFORCEMENT OF THE CONFLICT OF INTEREST POLICY. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST ABSTAINS FROM THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES SALARIES AFTER REVIEW OF COMPARABLE SALARIES FOR THAT JOB POSITION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON SPECIFIC REQUEST AND UPON APPROVAL BY THE NDRRC BOARD OF DIRECTORS. FORM 990, PART XII, LINE 1 THE CORPORATION'S FINANCIAL STATEMENTS ARE ON THE MODIFIED CASH BASIS OF ACCOUNTING. FORM 990, PART XII, LINE 2C THE FULL BOARD OF DIRECTORS OVERSEES THE REVIEW AND APPROVAL OF THE AUDIT AND MEETS WITH THE AUDITOR TO DISCUSS THE AUDIT AND ASK QUESTIONS.