


Fund Management With an Eternal Impact

OUR Mission & Vision
We partner with churches to transform their unused land into resources that support their mission.
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At RK Capital, our goal is to create lasting, positive change in people’s lives, while also delivering strong returns for our investors.
Through conversations with many churches, I (Kody) have come to understand that a lot of them are facing debt, sitting on surplus property, and seeking new ways to generate revenue.
By leveraging a fund structure, we can help churches unlock the value of their excess land and turn it into the capital they need to further their purpose.
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Meet The Team

Kody Bybee
Co-Founder
I bring 20 years of experience in overseeing the financial planning and management of both for-profit and non-profit organizations. With degrees in Management and Finance, he specializes in leading large, complex construction projects to completion—on time and under budget. Kody’s broad experience across various business sectors inspires him to foster a culture where excellence is not just the outcome, but the entire experience.

Why The Eternal Impact Fund?
I was at an investor retreat, discussing a $450 million project that was part of a $1 billion fund. The structure was impressive, the returns were solid, and this project had the potential to be a game-changer for me. But something didn’t sit right. I couldn’t get excited about the deal. I felt a strong sense that God was telling me this wasn’t the path I was meant to take.
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I wrestled with that feeling overnight, and the next morning, I made the decision to walk away from the team.
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As I packed my bags and began the five-hour drive home, I prayed, “God, please show me what I’m supposed to do. I have a unique skill set, but I don’t know how to use it.”
During that long drive, God began to reveal a vision in my heart—a vision to build a fund that would not only serve financial interests but make an eternal impact on people’s lives, communities, and generations to come. And that’s when the idea for the Eternal Impact Fund was born.
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The Eternal Impact Fund is designed to help churches unlock the potential of their excess land to further their mission. Through this fund structure, churches can retain control of the process without needing to invest additional capital.
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At RK Capital, we’re committed to making an eternal difference while delivering a solid return for our investors. We believe in the power of spreading the gospel and recognize the urgent need for more churches and para-church organizations in our communities. Together, we can leave a lasting legacy in people’s lives, our communities, and still provide a meaningful return to those who invest.
Investment Process
We meet with the church
RK Capital will meet with a church to understand their God given Mission / Vision (Their WHY). Then, we can discuss how developing the excess land can further their mission.

Financial Modeling and Due Diligence
RK capital will layout options and ideas to present to the church. The options will also include high-level financial projections and investor returns.

Pitch and Launch the Fund
RK Capital will pitch the fund to investors to obtain soft commitments. Then, we will finalize the specifics of the fund. The church will invest the property into the fund as the initial LP investment. No further capital is needed from the church.

Development Process
RK Capital will serve as the Developer (or JV with a Developer) and will begin the process of development, architectural, and construction.

Distributions
Once the project is complete, we will begin returning dividends to the investors.

Mature Asset
Once the asset is mature, we will have discussions with the church to determine the best course of action to take.

Investment Thesis
By leveraging the fund structure, we can help churches fund their "why" in a meaningful way. The church will contribute its excess land to the fund, receiving an equity stake based on the land’s value. From there, we’ll work closely with the church to understand their needs and vision, then design and develop the property in a way that aligns with their goals.
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The Eternal Impact Fund will focus on investing in land and buildings, overseeing construction and development, and managing the leasing and sale of properties to generate steady returns for our investors. RK Capital will act as the General Partner (GP) for the fund, guiding the entire process from start to finish.



Headquarted in Rapid City, South Dakota