Nonprofit · EIN 93-1138243
VALLEY DEVELOPMENT INITIATIVES
Tax-exempt · SALEM, OR 97308
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $120,249 | $195,658 | -$75,409 | $7,382,916 | $1,829,505 | $5,553,411 |
| June 30, 2024 | 990 | $353,239 | $418,415 | -$65,176 | $7,682,904 | $1,951,873 | $5,731,031 |
| June 30, 2023 | 990 | $319,865 | $473,460 | -$153,595 | $7,879,106 | $2,105,952 | $5,773,154 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $116,394
- Investment income
- $3,855
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $157,000
- Accounting fees
- $22,648
- Program services (functional)
- $169,031
- Management and general (functional)
- $26,627
Balance sheet and other
- Total assets, start of year
- $7,682,904
- Total assets, end of year
- $7,382,916
- Total liabilities, end of year
- $1,829,505
- Net assets, end of year
- $5,553,411
- Net assets without donor restrictions
- $5,553,411
- Gross receipts
- $120,249
- Employees
- 0
- Volunteers
- 8
- Year formed
- 1994
- State of legal domicile
- OR
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NATALIE MCRAE CARMICHAEL | PROGRAM DIRECTOR Officer | 0.5 | $0 | $122,001 | $41,450 |
| JEFFREY HILDERBRAND | LOAN PROGRAM MANAGER Highest-paid employee | 20 | $0 | $119,839 | $37,019 |
| DERIK MUNNS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ALEX RHOTEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ANDY BENNETT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RAY TEASLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SAM BRENTANO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TRUMAN STONE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LESA GOFF | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KENNA WEST | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NATALIE MCRAE CARMICHAEL | PROGRAM DIRECTOR Officer | 2 | $0 | $113,668 | $36,125 |
| DERIK MUNNS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ALEX RHOTEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ANDY BENNETT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RAY TEASLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SAM BRENTANO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TRUMAN STONE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LESA GOFF | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KENNA WEST | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NATALIE MCRAE CARMICHAEL | PROGRAM DIRECTOR Officer | 2 | $0 | $93,526 | $33,456 |
| DERIK MUNNS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SAM BRENTANO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RAY TEASLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TRUMAN STONE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ANDY BENNETT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LESA GOFF | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ALEX RHOTEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNA WEST | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 167, SALEM, OR 97308-0167
- In care of
- % JOHN G BURT TREASURER
- Principal officer (990 for 2024)
- NATALIE MCRAE CARMICHAEL, 100 HIGH STREET SE 200, SALEM, OR 97301
- Signed the 990
- DERIK MUNNS, PRESIDENT
- Phone
- (503) 588-6177
- Return prepared by
- REDW LLC
Mission
THE PRINCIPAL PURPOSES OF THIS CORPORATION SHALL BE TO ACT AS AN INTERMEDIARY BORROWER/RELENDER WITHIN THE SCOPE OF A CERTAIN "INTERMEDIARY RELENDING PROGRAM" ESTABLISHED BY THE U.S. DEPARTMENT OF AGRICULTURE, FARMERS HOME ADMINISTRATION (FMHA), AS A LENDER OF OTHER PUBLIC FUNDS SUCH AS THOSE MADE AVAILABLE UNDER THE RURAL BUSINESS ENTERPRISE GRANT PROGRAM ESTABLISHED BY FMHA AND FUNDS THAT MAY BE DERIVED FROM OTHER PUBLIC AGENCIES TO ACCOMPLISH SIMILAR GOALS, AND PROVIDE AFFORDABLE HOUSING THAT IS DECENT, SAFE, AND SANITARY FOR LOW-INCOME FAMILIES, TO CARRY OUT A NEIGHBORHOOD REVITALIZATION OR COMMUNITY ECONOMIC DEVELOPMENT, AND TO CONTRACT WITH AN APPROPRIATE POLITICAL SUBDIVISION ("A PUBLIC BODY" AS DEFINED IN ORS 30.620) OF THE STATE OF OREGON TO ADMINISTER SUCH PROGRAM IN THE NAME OF THIS CORPORATION.
Program accomplishments
- PROVIDED LOANS TO SMALL BUSINESSES LOCATED IN RURAL COMMUNITIES OF CLACKAMAS, MARION, POLK, AND YAMHILL COUNTIES IN OREGON. TWO LOANS WERE MADE DURING THE FISCAL YEAR AND AS OF JUNE 30, 2025, FOURTEEN LOANS WERE OUTSTANDING. IN ADDITION, STAFF ASSISTED THREE HOMEOWNERS WITH OVER $48,000 IN LOW INTEREST LOANS THROUGH THE TRADITIONAL HOUSING REHABILITATION LOAN PROGRAM.Expenses $169,031 · revenue $116,394
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 93-1138243
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1995
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $7,382,916
- Income (IRS master file)
- $120,249
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $120,249 | $195,658 | $7,382,916 | IRS |
| 990 | June 2024 | $353,239 | $418,415 | $7,682,904 | XML |
| 990 | June 2023 | $319,865 | $473,460 | $7,879,106 | XML |
| 990 | June 2022 | $191,112 | $361,742 | $7,121,121 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 93-1138243).
Questions about VALLEY DEVELOPMENT INITIATIVES
- What is the EIN of VALLEY DEVELOPMENT INITIATIVES?
- The employer identification number (EIN) of VALLEY DEVELOPMENT INITIATIVES is 93-1138243.
- Is VALLEY DEVELOPMENT INITIATIVES tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1995.
- Are donations to VALLEY DEVELOPMENT INITIATIVES tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does VALLEY DEVELOPMENT INITIATIVES 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 VALLEY DEVELOPMENT INITIATIVES due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VALLEY DEVELOPMENT INITIATIVES last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VALLEY DEVELOPMENT INITIATIVES?
- The 990 for the year ended June 30, 2025 names NATALIE MCRAE CARMICHAEL.
- Who are the officers and directors of VALLEY DEVELOPMENT INITIATIVES?
- The 990 for the year ended June 30, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does VALLEY DEVELOPMENT INITIATIVES have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $120,249, expenses of $195,658 and total assets of $7,382,916 at year end.
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