2025-11-15T07:08:16-06:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 450435966 Region V Community Development Corporation REGI 7012322452 3233 South University Drive Fargo ND 58104 Brandon Kjelden Executive Director 7012322452 2025-11-14 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-11-14 2024 2025-03-06 01:10:19Z Brandon Kjelden 3233 South University Drive Fargo ND 58104 657935 0 X www.rvcdc.org X 1994 ND Planning, developing, owning, and managing affordable housing projects in southeastern ND. 5 5 0 5 0 0 0 0 582487 657935 81127 0 0 0 663614 657935 0 0 0 0 18307 78867 0 0 0 493073 765333 511380 844200 152234 -186265 8432447 8847847 4900451 5335783 3531996 3512064 X 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. 0 0 789395 657935 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. 789395 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 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 1 0 0 1 19 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 1 0 X Brandon Kjelden 7012322452 3233 University Drive South Fargo ND 58104 Raymon Nelson President 0.30 0.10 X X 0 0 0 Cheri Jahner Vice President 0.10 0.10 X X 0 0 0 Vicki Groven Secretary/Treasurer 0.10 0.10 X X 0 0 0 Sheryl Dagman Director 0.10 0.10 X 0 0 0 Mitch Calkins Director (As of Mar 24) 0.10 0.10 X 0 0 0 Brandon Kjelden Executive Director 4.00 36.00 X 0 114860 40797 0 114860 40797 0 0 1 0 0 PS Rent 531110 629886 629886 Low Interest Loans 531390 140512 140512 Management Fees 531310 62632 62632 Related Party Investme 531390 -232196 -232196 57101 57101 657935 657935 657935 0 0 78867 78867 21180 21180 13263 13263 19533 19533 627 627 829 829 115413 115413 2073 2073 106707 106707 264755 264755 85138 85138 Repairs & Maintenance 129668 129668 Bad Debt Expense 6147 6147 844200 789395 54805 0 1620950 1772539 23395 11972 1109894 1109894 17059 14146 7049549 2288496 4175131 4761053 303833 71737 1182185 1106506 8432447 8847847 96621 77288 24820 33700 4456631 4905333 182040 163958 140339 155504 4900451 5335783 X 3531996 3512064 3531996 3512064 8432447 8847847 X -186265 166333 X 0 0 0 X 115249 115249 115249 115249 115249 2430 2430 117679 2921759 0.97940 0.95740 X 0 1 X 455890 455890 6300620 2075376 4225244 173861 154533 19328 119178 58587 60591 4761053 Tenant Security Deposits 33700 Other Assets -180847 Interest Receivable 955301 Due from Related Party 220020 Developer Fees 78332 1106506 Special Assessments Payable 103210 Due To Related Parties 52294 155504 X Part IV, Line 2b: The Corporation holds tenant security deposits. The amount of the liability was $24,820 and $33,700 for 2023 and 2024, respectively. Part X, Line 2: The Corporation believes that the entity has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. We would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. 0 0 0 0 0 0 0 0 0 Brandon Kjelden Executive Director 0 114860 0 0 0 0 0 13362 0 27480 0 155702 0 0 Sch J , Part 1, Line 3 A related organization determines compensation and relied on factors on Part 1, line 3. Form 990, Part VI, Section A, line 6 The Corporation shall have one Member, the Southeastern North Dakota Community Action Agency (SENDCAA). Form 990, Part VI, Section A, line 7a The Corporation's member shall have the right to designate directors. Form 990, Part VI, Section A, line 7b The Corporation's member shall have the right to vote on matters such as mergers or consolidations and on any election to dissolve the corporation. The member may also vote on the adoption, amendment, or repeal of the Corporation's Articles of Incorporation. Form 990, Part VI, Section A, line 8b There are no committees with the authority to act on behalf of the board. Form 990, Part VI, Section B, line 11b A draft of the Form 990 will be provided to the Board of Directors prior to IRS filing. Form 990, Part VI, Section B, line 12c The board members and employees are required to comply with a conflict of interest policy. Any potential conflicts are reviewed by the nonconflicting board or committee members. If it is determined that a conflict exists the conflicting board member is recused from voting on that issue. Form 990, Part VI, Section B, line 15 The compensation is based on the Southeastern North Dakota Community Action Agency's compensation plan, a related entity. The market salary is determined yearly by budget and comparison of salaries in similar markets. The salary is then set and Consumer Price Index adjustments are made annually if funds are available. Review, approval, and documentation by independent persons is completed. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: Transition of Northwood Vilage LP Interest 124,126. Transition of The Homestead LP Interest 42,207. RVCDC Properties LLC 3233 South University Drive Fargo ND 58104 Ownership of GP/LP Interest ND -13594 3195389 Region V Community Development Corporation Sunset Village LP 3233 South University Drive Fargo ND 58104 450457750 Ownership of GP/LP Interest ND -2639 198795 RVCDC & RVCDC Properties LLC Sheyenne Commons LP 3233 South University Drive Fargo ND 58104 260854710 Ownership of GP/LP Interest ND -11468 1678432 RVCDC & RVCDC Properties LLC Northwood Village LP (Start July 1) 3233 South University Drive Fargo ND 58104 261429661 Ownership of GP/LP Interest ND -18814 821407 RVCDC & RVCDC Properties LLC Homestead Village LP (As of Dec 31) 3233 South University Drive Fargo ND 58104 450447875 Ownership of GP/LP Interest ND 0 70031 RVCDC & RVCDC Properties LLC Southeastern North Dakota Community Action Agency 3233 South University Drive Fargo ND 58104 456014870 Community Action ND 501(c)(3) Line 7 N/A 0 Dakotah Pioneer LP 3233 S University Drive Fargo ND 58104 450453239 Low income housing ND Region V Community Development Corp Related -32293 469841 0 1 0.00010 Homestead Village LP 3233 S University Drive Fargo ND 58104 450447875 Low income housing ND Region V Community Development Corp Related 0 1 0.00010 Homestead Commons LP 3233 S University Drive Fargo ND 58104 830363850 Low income housing ND Region V Community Development Corp Related -1 95491 0 1 1.00000 Heritage Village LP 3233 S University Drive Fargo ND 58104 470877419 Low income housing ND Region V Community Development Corp Related -25548 61908 0 1 1.00000 Hearthstone Village LP (Until Dec 31) 3233 S University Drive Fargo ND 58104 911861046 Low income housing ND Region V Community Development Corp Related -21437 40939 0 1 0.01000 Northwood Village LP (Until June 30) 3233 S University Drive Fargo ND 58104 261429661 Low income housing ND Region V Community Development Corp Related -3 0 1 0.00010 Sundance Commons LP 3233 S University Drive Fargo ND 58104 452090447 Low income housing ND N/A 0 1 Region V Community Development Corporation No 1 3233 S University Drive Fargo ND 58104 260750020 Low income housing ND Region V Community Development Corporation C 45027 -93974 1.00000 1 Region V Community Development Corporation No 2 3233 S University Drive Fargo ND 58104 455379507 Low income housing ND Region V Community Development Corporation C 18223 -130848 1.00000 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 Northwood Village LP A 3116 Accrual Sundance Commons LP A 98845 Accrual Heritage Village LP A 7077 Accrual Homestead Commons LP A 5099 Accrual Sundance Commons LP D 579894 Accrual Southeastern North Dakota Community Action Agency P 78867 Accrual