Rural Housing Development Corporation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Rural Housing Development Corporation meets the 20 Standards for Charity Accountability.
Stated Purpose:
Rural Housing Development Corporation uses the Mutual Self-Help Housing owner-builder model to assist you in constructing your home as an owner-builder.
Year, State Incorporated:
1998, UT
Also Known As:
Self-Help Homes
Rural Housing Development Corporation (RHDC) provides affordable housing opportunities through its Mutual Self-Help Housing program, a U.S. Department of Agriculture - Rural Development sponsored affordable housing program. Through the program, groups of up to 12 qualifying families will build together under the direction of a construction supervisor to use "sweat equity" as a down payment to get into a home. The families will frame, roof, paint, install cabinets, landscape, etc. to provide over 1,100 hours of labor toward the building of their homes. RHDC has helped over 600 low-income families into affordable home ownership in multiple communities throughout Utah, Juab, Washington and Wasatch Counties. These cities include Payson, Salem, Santaquin, Eagle Mountain, Saratoga Springs, Heber, Provo, Orem, Elk Ridge, LaVerkin, Nephi, Hurricane, and Toquerville cities. In many cases, RHDC provides affordable loans from the State of Utah, HUD and the local Utah Valley Consortium to leverage USDA-RD funding to help qualify families for the program. All families get Home Buyer Education and budgeting classes through RHDC partners like Community Action Agency. In order for families to obtain a building lot, RHDC also has to develop a pipeline of lots to build up to 55 homes a year. Loans from HUD through national organizations like the Housing Assistance Council or locally through the Utah Valley Home Consortium, Mountainlands Association of Governments or the State of Utah are used to develop subdivisions for the Self-Help Housing program.
For the year ended September 30, 2023, Rural Housing Development Corporation's program expenses were:
| Programs | $1,668,878 |
| Total Program Expenses | $1,668,878 |
Chief Executive
Brad Bishop, Executive Director
Compensation*
$267,458
Chair of the Board
Scott Wyckoff
Chair's Profession / Business Affiliation
Intermountain Health Care
Board Size
6
Paid Staff Size
12
* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.
Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Grant proposals, Internet, Planned giving arrangements, Appeals via Social Media (Facebook, etc.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Rural Housing Development Corporation's audited financial statements for the year ended September 30, 2023.
Source of Funds
| Sales Proceeds from Land Held for Sale | $1,623,636 |
| Federal and State Grants | $450,804 |
| Contributions | $111,153 |
| Interest | $61,640 |
| Rent | $49,654 |
| Other | $18,332 |
| Total Income | $2,315,219 |
Programs: 77% Fundraising: 1% Administrative: 22%
| Total Income | $2,315,219 |
| Total expenses: | $2,161,149 |
| Program expenses | $1,668,878 |
| Fundraising expenses | $21,612 |
| Administrative expenses | $470,659 |
| Other expenses | $0 |
| Income in Excess of Expenses | $154,070 |
| Beginning Net Assets | $17,865,665 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $18,019,735 |
| Total Liabilities | $3,390,273 |
| Total Assets | $33,474,837 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Serving the Mountain West