2025-11-26T22:14:46-05:00 2024-12-31 030280081 JMM & ASSOCIATES PC 463 MOUNTAIN VIEW DR STE 403 COLCHESTER VT 05446 990 2024-01-01 030337709 RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION RAND 8027284305 PO BOX 409 RANDOLPH VT 05060 PETER REED EXECUTIVE DIRECTOR 8027284305 2025-11-26 true false RANDALL L SARGENT CPA P00136499 8026555665 2025-11-26 2024 2025-03-06 01:10:19Z PETER REED PO BOX 409 RANDOLPH VT 05060 1347588 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. 9 9 23 25 0 766735 436301 565601 834623 70000 3855 6664 1336191 1347588 749 3039 0 307165 648886 0 0 314257 596911 622171 1248836 714020 98752 8393542 8256620 1351960 1110180 7041582 7146440 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 359312 395848 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). 123274 92176 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). 44593 83163 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). 566160 3039 263436 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. 566160 3039 263436 1093339 true true false false false false false false true false true false true false false true false true false false false false false false false false false false false false false false false false false false true false false false false false true true false false false true 30 0 23 true false false false false false false false false false false false false X 9 9 false false false false true true true true true false false false true true true true true true false false X PETER REED 8027284305 PO BOX 409 RANDOLPH VT 05060 JULIE IFFLAND EXECUTIVE DI 40.00 X 100000 0 6000 PETER REED PRESIDENT 2.00 X X 0 0 0 DANIEL DEVOE VICE PRESIDE 2.00 X X 0 0 0 ROBERT WRIGHT TREASURER 2.00 X X 0 0 0 MATHEW JOHNSON SECRETARY 2.00 X X 0 0 0 SAM HOOPER DIRECTOR 2.00 X 0 0 0 CHRISTINE MALONEY DIRECTOR 2.00 X 0 0 0 ROBERT SPARADEO DIRECTOR 2.00 X 0 0 0 EILEEN LONDON DIRECTOR 2.00 X 0 0 0 JOSH HANFORD DIRECTOR 2.00 X 0 0 0 TOM AYRES LEFT JANUARY 2024 DIRECTOR 2.00 X 0 0 0 DAN BENNETT LEFT OCTOBER 2024 DIRECTOR 2.00 X 0 0 0 100000 6000 false false false 261660 174641 436301 SERVICES INCOME 721310 336696 336696 RENTAL INCOME 531390 294013 294013 DEVELOPMENT FEES 532000 158981 158981 INTEREST INCOME 531110 31210 31210 LOAN FEES 531390 13723 13723 834623 70000 70000 70000 70000 MISCELLANEOUS INCOME 531390 6664 6664 6664 1347588 911287 3039 3039 106000 90100 15900 426474 372223 54251 68600 60476 8124 47812 30822 16990 15324 15324 2371 2371 9350 9350 56687 45950 10737 15416 15325 91 4418 2557 1861 135689 131476 4213 1913 1314 599 17435 8631 8804 20259 18086 2173 129789 123535 6254 32908 30049 2859 MISCELLANEOUS 99767 91074 8693 FOOD AND SUPPLIES 53834 51607 2227 BAD DEBT EXPENSE 1751 1751 1248836 1093339 155497 0 44933 48391 630610 620225 279620 57844 2798996 2699282 2991 2991 4807805 1391497 3623410 3416308 931551 1148144 81431 263435 8393542 8256620 210531 62410 66000 32072 32672 1109357 949098 1351960 1110180 X 6795508 6731441 246074 414999 7041582 7146440 8393542 8256620 98752 6106 X false true X true false X 289618 556680 162034 766735 436301 2211368 289618 556680 162034 766735 436301 2211368 32585 2178783 2211368 5095965 0.98530 0.97920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 203984 203984 3481129 1288573 2192556 160895 102924 57971 961797 961797 3416308 EQUITY IN OTHER PROPERTIES 1148144 C 1148144 X 1359588 12000 12000 1347588 1347588 1260836 12000 12000 1248836 1248836 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. BECKY WRIGHT RELATED PARTY 43799 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 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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