About Rural Economic Development Center
To champion rural North Carolina by investing in people, communities, and potential; guided by a vision of a North Carolina where every rural voice matters and every rural community thrives.
Focus Areas
small business lendingcommunity development financeleadership trainingpolicy advocacybroadband accessresearch and data
Who They Fund
community development financial institutions (CDFIs)shellfish growers / small aquaculture producersfaith-based organizations in rural communitiesrural communities / rural residents
Funding Style
capacity building
About Rural Economic Development Center
Rural Economic Development Center Inc. is a North Carolina funder whose largest recent awards go to CDFIs and shellfish-related rural livelihoods, including $775,000 to Institute Capital Inc for CDFI capacity building and $626,747 to Array Community Development Corporation for a shellfish growers program grant. That mix points to a practical strategy: strengthen intermediaries that finance rural enterprises, then back sector-specific implementation where rural economies need targeted support. The foundation’s grantmaking also reaches faith-based rural community work, with awards to churches and Methodist congregations through its Faith in Rural Communities line. Recent grants show both large institutional commitments and smaller community-level awards, with support directed to organizations in Durham, Asheville, Charlotte, Raleigh, Beaufort, and beyond. Across the grant list, the recurring themes are capacity building, technical assistance, community development finance, and place-based rural programming. The foundation’s structure includes program-related investments, which aligns with a portfolio that appears designed to move capital as well as grants into rural North Carolina.
What Rural Economic Development Center Funds
A core area of support is CDFI institutional strengthening. In 2024 and 2025, the foundation made six-figure grants to organizations such as Mountain Bizworks, Business Expansion Funding Corporation, Carolina Community Impact Inc, Carolina Small Business Development Fund, Piedmont Business Capital, and The Sequoyah Fund Inc for CDFI capacity building program grants. Another focus is aquaculture and shellfish production. Array Community Development Corporation received $626,747 in 2025 and $100,000 in 2024 for shellfish growers program grants, and Thread Capital received $250,000 in 2024 for the same area. The foundation also funds faith-based rural engagement. First Umc in Murphy received a $30,000 Faith in Rural Communities Connect implementation grant, while multiple Methodist churches received $15,000 sub-grants for local projects. Leadership development is also part of the portfolio through the Rural Economic Development Institute, a hands-on training program for current and emerging rural leaders.
How Rural Economic Development Center Gives
The typical grant size is $10,000 at the 25th percentile, $15,000 at the median, and $231,250 at the 75th percentile, showing a spread from small church sub-grants to much larger capacity-building awards. The grant list also shows repeat relationships over time: organizations such as Partner Community Capital Inc, Mountain Bizworks, Up Community Fund LLC, Carolina Community Impact Inc, and Array Community Development Corporation appear in multiple years. That pattern suggests ongoing program support rather than isolated one-off awards. The foundation is a regular funder and also makes program-related investments, which fits a capital-plus-grants approach. Two active programs are listed: Connect Church accepts unsolicited participation, while REDI does not.
Financial Snapshot
Annual Giving
$2.5M
Total Assets
$309.1M
Total Revenue
$70M
Total Expenses
$11.6M
Typical Grant Size
Most grants fall between $10K and $231K, with a median of $15K.
25th Percentile
$10K
Median
$15K
75th Percentile
$231K
Geographic Reach
Local2 states funded
Funding intensity
LowHigh
Headquarters
Leadership
PATRICK WOODIE
Accepts unsolicited proposals
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