2024-05-09T16:09:26-04:00 2023-06-30 030280081 JMM & ASSOCIATES PC 463 MOUNTAIN VIEW DRIVE SUITE 403 COLCHESTER VT 05446 990 2022-07-01 030337709 RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION RAND 8027284305 PO BOX 409 RANDOLPH VT 05060 JULIE IFFLAND EXECUTIVE DIRECTOR 8027284305 2024-05-09 true JULIE IFFLAND 999009999 false RANDALL L SARGENT CPA P00136499 8026555665 2024-05-09 2022 2023-04-26 12:10:37Z JULIE IFFLAND PO BOX 409 RANDOLPH VT 05060 1057558 false X WWW.RACDC.COM X 1993 VT RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION 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. 8 8 21 37 0 556680 162034 1211515 869354 1166214 0 816447 26170 3750856 1057558 5773 612 0 451261 506598 0 0 550472 553653 1007506 1060863 2743350 -3305 7323571 7135312 992704 807750 6330867 6327562 X 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. false false 341472 350061 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) PEOPLE IN FISCAL YEAR 2023. 120708 93329 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) PEOPLE IN FISCAL YEAR 2023. 48637 84562 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) PEOPLE IN FISCAL YEAR 2023. 424216 612 460433 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 FISCAL YEAR 2023. 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. 424216 612 460433 935033 true true false false false false false false true false true false false false false true false true false false false false false false false false false false false false false false false false false true true false false false false false true true false false false true 19 0 21 true false false false false false true true false false false false false false X 8 8 false false false false true true true true true false false false true true true true true true false false X JULIE IFFLAND 8027284305 PO BOX 409 RANDOLPH VT 05060 JULIE IFFLAND EXECUTIVE DI 38.00 2.00 X 89535 0 5500 PETER REED PRESIDENT 2.00 X X 0 0 0 DANIEL DEVOE VICE PRESIDE 2.00 X X 0 0 0 ROBERT WRIGHT TREASURER (I 2.00 X X 0 0 0 TOM AYRES SECRETARY 2.00 X X 0 0 0 CHRISTINE MALONEY DIRECTOR 2.00 X 0 0 0 DAN BENNETT DIRECTOR 2.00 X 0 0 0 ROBERT SPARADEO DIRECTOR 2.00 X 0 0 0 SAM HOOPER DIRECTOR 2.00 X 0 0 0 PATRICK FRENCH LEFT MAY 2023 DIRECTOR 2.00 X 0 0 0 ROBERT MOYER LEFT JUNE 2023 DIRECTOR 2.00 X 0 0 0 MIRANDA HOLSON LEFT MAY 2023 DIRECTOR 2.00 X 0 0 0 NIKKI WARE LEFT NOVEMBER 2022 DIRECTOR 2.00 X 0 0 0 89535 5500 false false false 20000 142034 162034 RENTAL INCOME 531390 329606 329606 DEVELOPMENT FEES 532000 256323 256323 SERVICES INCOME 721310 224360 224360 INTEREST INCOME 531110 45158 45158 LOAN FEES 531390 13907 13907 869354 MISCELLANEOUS INCOME 531390 26170 26170 26170 1057558 895524 612 612 85566 72731 12835 324327 289787 34540 61840 54647 7193 34865 31103 3762 18219 18219 4462 4462 19448 19448 31765 31765 3066 1153 1913 8077 4424 3653 144583 137292 7291 1349 1256 93 13179 2081 11098 29027 26752 2275 129194 123640 5554 29382 23158 6224 MISCELLANEOUS 66415 61998 4417 FOOD AND SUPPLIES 55264 54192 1072 BAD DEBT EXPENSE 223 223 1060863 935033 125830 0 28490 39718 895649 476931 11727 276572 2616944 2454010 2114 2991 4623227 1197251 3333450 3425976 233608 233561 201589 225553 7323571 7135312 40244 30338 32071 31435 920389 745977 992704 807750 X 5916668 6075394 414199 252168 6330867 6327562 7323571 7135312 -3305 X false true X true false X 633489 108821 289618 556680 162034 1750642 633489 108821 289618 556680 162034 1750642 41799 1708843 1750642 5009989 0.97610 0.98750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 339035 339035 3219419 1107161 2112258 166609 90090 76519 898164 898164 3425976 X 1068058 10500 10500 1057558 1057558 1071363 10500 10500 1060863 1060863 SCHEDULE D, PAGE 2, PART IV, LINE 2B RACDC RENTAL PROPERTIES REQUIRE TENANT SECURITY DEPOSITS. THESE AMOUNTS ARE CONSIDERED CUSTODIAL LIABILITIES. SCHEDULE D, PAGE 3, PART X THE ORGANIZATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. LEDDYNAMICS RELATED PARTY 9776 LOAN RECEIVABLE false BECKY WRIGHT RELATED PARTY 46652 RESIDENT MANAGER false SCHEDULE L, PART V BOB WRIGHT, MEMBER OF THE BOARD OF DIRECTORS, IS THE BROTHER OF CURRENT JOSLYN HOUSE RESIDENT MANAGER, BECKY WRIGHT. FORM 990 - ORGANIZATION'S 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. FORM 990, PAGE 2, PART III, LINE 4D 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 FISCAL YEAR 2023. 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. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERSHIP IN THE ORGANIZATION IS VOLUNTARY AND IS OPEN TO ANY INDIVIDUAL, BUSINESS, AND ORGANIZATION. APPLICANTS ARE ADMITTED MEMBERSHIP FOR THREE YEARS UPON SUBMITTING SUCH INFORMATION AS MAY BE REQUIRED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS OF RACDC ELECT THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS OF RACDC APPROVE CHANGES TO THE GOVERNING DOCUMENTS. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C WE ASK FOR UPDATES TO THE CONFLICT OF INTEREST REPORTS YEARLY AT THE BOARD ORGANIZING MEETING AND DISCUSS POTENTIAL CONFLICTS AS/IF ISSUES ARISE. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD DETERMINES THE EXECUTIVE DIRECTOR'S SALARY. IT IS RESPONSIBLE FOR THE EXECUTIVE DIRECTOR'S EVALUATION, A PART OF WHICH IS A RECOMMENDATION OF SALARY, FURTHER APPROVED BY THE BOARD IN THE BUDGET VOTE. FORM 990, PAGE 6, PART VI, LINE 19 THE FILES ARE AVAILABLE IN THE OFFICE FOR REVIEW AT ANY TIME BY ANY MEMBER OF THE PUBLIC THAT ASKS. 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