Organizations Filed Purposes:
THE NORTH DAKOTA RURAL REHABILITATION CORPORATION IS A CHARITABLE NON-PROFIT, CHARITABLE CORPORATION COMMITTED TO PROVIDING LOW INTEREST LOANS AND GRANT TO QUALIFYING NORTH DAKOTA FARMERS, RANCHERS, COOPERATIVES, NON-PROFIT AND PUBLIC ENTITIES, THE PRIMARY PURPOSE OF WHICH IS TO ASSIST IN THE DEVELOPMENT, REHABILITATION AND ENHANCEMENT OF THE ECONOMIC, EDUCATION, SOCIAL, INFRASTRUCTURE AND PUBLIC SAFETY OPPORTUNITIES IN THEIR INDIVIDUAL OPERATIONS AND THEIR RURAL NORTH DAKOTA COMMUNITIES IN A MANNER THAT ADDS TO THE QUALITY OF LIFE OF LOW INCOME FARMERS, RANCHERS AND OTHER LOW INCOME RURAL RESIDENTS AND IS CONSISTENT WITH ITS CORPORATE AUTHORITY.
PROVIDE LOW INTEREST RATE LOANS TO DISTRESSED FARM FAMILIES IN THE STATE OF NORTH DAKOTA WHO DO NOT HAVE OTHER MEANS OF OBTAINING FINANCING.
REAL ESTATE LOANS--ND RURAL REHABILITATION CORPORATION (NDRRC) PARTICIPATES WITH THE FARM SERVICE AGENCY (FSA) IN PROVIDING REAL ESTATE LOANS TO NORTH DAKOTA FARMERS AND RANCHERS WHO ARE UNABLE TO SECURE CONVENTIONAL CREDIT. THESE LOANS HAVE BEEN FOR BORROWERS WITH FSA LOANS WHERE FSA SUBORDINATES THEIR LIEN TO THIS CORPORATION. NDRCC ALSO PROVIDES DIRECT REAL ESTATE LOANS TO FARMERS AND RANCHERS WHO ARE UNABLE TO SECURE CONVENTIONAL CREDIT. SOME OF THESE LOAN REQUESTS ARE SUBMITTED BY CREDIT COUNSELORS ON BEHALF OF THEIR CLIENTS AND SOME FARMERS AND RANCHERS COME DIRECTLY TO THE CORPORATION THEMSELVES. THE LOANS MAY INVOLVE REFINANCE OF EXISTING FIRST MORTGAGE LOANS WHICH ARE EITHER BEING TERMINATED OR HAVE SUCH HIGH INTEREST RATES THAT THE OPERATORS NO LONGER HAVE AN ADEQUATE CASH FLOW TO SUCCEED. LOANS FOR THE PURCHASE OF LAND IS ALSO MADE. NDRCC REQUIRES A FIRST MORTGAGE. NDRCC HAD APPROXIMATELY 178 LOANS TO FARMERS AND RANCHERS OUTSTANDING DURING THE CURRENT YEAR WITH AN OUTSTANDING BALANCE IN EXCESS OF $23,600,000.
NDRRC PROVIDES NUMEROUS GRANTS AND SCHOLARSHIPS THROUGHOUT THE YEAR. NDRRC GIVES TUITION ASSISTANCE TO FARMERS AND RANCHERS TO PARTICIPATE IN FARM BUSINESS MANAGEMENT PROGRAMS SPONSORED BY THE NORTH DAKOTA VOCATIONAL AGRICULTURAL SCHOOLS. TUITION ASSISTANCE IS ALSO GIVEN FOR ARTIFICIAL INSEMINATION SCHOOLS THROUGHOUT THE STATE. NDRRC SUPPORTS THE AMBASSADORS PROGRAM OF THE NORTH DAKOTA 4-H FOUNDATION AS WELL AS THE NORTH DAKOTA FFA FOUNDATION. NDRRC ALSO PROVIDES INDIVIDUAL GRANTS ON A CASE-BY-CASE BASIS AS WELL AS GRANTS TO INSTITUTIONAL ENTITIES BENEFITTING INDIVIDUAL FARMERS AND RANCHERS TO REHABILITATE THEIR FARMING OPERATIONS. THE NDRRC ALSO HAS A FRESHMAN CAREER SCHOLARSHIP WHICH IS AVAILABLE TO FAMILY MEMBERS OF NDRRC'S BORROWERS WHO ARE INTENDING TO CONTINUE THEIR EDUCATION AFTER GRADUATION FROM HIGH SCHOOL. NDRRC PROVIDED GRANTS TO OVER 100 INDIVIDUALS AND ORGANIZATIONS DURING THE CURRENT YEAR.
SUBORDINATED OPERATING LOANS--THESE ARE SHORT-TERM OPERATING LOANS MADE IN PARTICIPATION WITH THE FARM SERVICE AGENCY (FSA). FSA SUBORDINATES THEIR LIEN ON CROPS, CHATTELS, AND PROGRAM PAYMENTS. NDRRC HAD OPERATING LOANS TO APPROXIMATELY 15 FARMERS AND RANCHERS IN THE CURRENT YEAR.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Terese Berg | BUSINESS MANAGER | 40 | $107,996 |
| William Fortier | PRESIDENT | 20 | $69,113 |
| Kenneth L Dalsted | SEC./TREAS. | 10 | $60,666 |
| Donald C Giffey | DIRECTOR | 10 | $31,898 |
| Shana Forster | DIRECTOR | 10 | $18,500 |
| H Roald Lund | VICE PRESIDENT | 10 | $18,000 |
| Jason Sillers | DIRECTOR | 10 | $15,750 |
| Luella Dunn | DIRECTOR | 10 | $12,000 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202043149349300614_public.xml