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Nonprofiteer
← RURAL CONSUMER SERVICES CORPORATION

Form 990 for tax year 2023

Filed by RURAL CONSUMER SERVICES CORPORATION.

Totals

Total revenue
$324,310
Total expenses
$286,467
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$184,712
Investment income
$138,590
Other revenue
$1,008
Total assets, end of year
$3,651,811
Total liabilities, end of year
$1,447,339
Net assets or fund balances, end of year
$2,204,472
Program services expenses (Part IX)
$219,215
Management and general expenses
$67,252
Fundraising expenses
$0
Program service expenses (Part III)
$219,215

Program services were 76.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: FIBER RENTALS

    total $128,018 · related or exempt $128,018

  • 2b · Program service revenue: FACILITY RENTALS

    total $56,694 · related or exempt $56,694

  • 3 · Investment income

    total $138,590 · excluded $138,590

  • 11a · Other revenue: OTHER INCOME

    total $1,008 · related or exempt $1,008

  • 11e · Other revenue, total

    $1,008

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $18,900 · management and general $18,900

  • 11b · Fees: legal

    total $6,000 · management and general $6,000

  • 11g · Fees: other

    total $128,742 · program services $117,042 · management and general $11,700

  • 16 · Occupancy

    total $100,588 · program services $100,588

  • 17 · Travel

    total $2,637 · management and general $2,637

  • 21 · Payments to affiliates

    total $28,015 · management and general $28,015

  • 22 · Depreciation, depletion and amortization

    total $444 · program services $444

  • 24a · Other expenses: DUES

    total $847 · program services $847

  • 24b · Other expenses: PROPERTY TAXES

    total $294 · program services $294

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,292,035 · end of year $754,810

  • 7 · Other notes and loans receivable

    beginning of year $2,163,316 · end of year $2,747,828

  • 10a · Land, buildings and equipment: cost or other basis

    $61,085

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,768

  • 10c · Land, buildings and equipment, net

    beginning of year $51,761 · end of year $51,317

  • 13 · Investments: program-related

    beginning of year $97,856 · end of year $97,856

  • 17 · Accounts payable and accrued expenses

    beginning of year $112,609 · end of year $479,649

  • 23 · Secured mortgages and notes payable

    beginning of year $1,325,730 · end of year $967,690

  • 27 · Net assets without donor restrictions

    beginning of year $2,166,629 · end of year $2,204,472

Mission and programs · 2023

Mission

THE MISSION IS TO PROMOTE NEW BUSINESS DEVELOPMENT, BUSINESS EXPANSION, AND BUSINESS RETENTION IN BRUNSWICK AND COLUMBUS COUNTIES; TO PARTNER WITH STATE AND LOCAL AUTHORITIES AND ORGANIZATIONS TO AFFORD THE TOOLS REQUIRED TO MOVE MORE CITIZENS AND BUSINESSES INTO THE TECHNOLOGY AGE AND TO LONG-TERM ECONOMIC PROSPERITY; TO ORGANIZE ECONOMIC DEVELOPMENT ACTIVITIES WITH THE GOAL OF MAKING THE ACTIVITIES FINANCIALLY SELF-SUSTAINING OVER TIME; AND ULTIMATELY TO HELP CREATE AND RETAIN JOBS FOR THE CITIZENS OF OUR AREA.

  • THE OPERATION OF A WEATHERIZATION LOAN PROGRAM FOR RESIDENTS OF BRUNSWICK AND COLUMBUS COUNTIES, NC. THIS PROGRAM OFFERS LOW-INTEREST LOANS TO RESIDENTIAL AND SMALL COMMERCIAL BUILDING OWNERS FOR ENERGY EFFICIENT IMPROVEMENTS.

    Expenses $135,423 · Revenue $138,590

  • LEASING OF DARK FIBER AND OPTIC EQUIPMENT. THIS EFFORT WAS INITIALIZED BY THE STATE OF NORTH CAROLINA IN 1999 TO PROMOTE ECONOMIC DEVELOPMENT AND PROVIDE BROADBAND INTERNET ACCESS SERVICES TO THE RURAL AREAS OF THE STATE.

    Expenses $83,792 · Revenue $133,418

  • GRANTS TO ECONOMIC DEVELOPMENT ORGANIZATIONS IN COLUMBUS AND BRUNSWICK COUNTIES, NC TO FOSTER ECONOMIC GROWTH.

  • RENTAL OF A SECURE TELECOMMUNICATIONS ROOM AND RACK SPACE TO A COMMERCIAL TELECOMMUNICATIONS COMPANY THAT PROVIDES AN INTERNET "POINT OF PRESENCE" THAT IS USED BY LOCAL GOVERNMENT FACILITIES, PROVIDING A LOW-COST ALTERNATIVE FOR THE CITIZENS OF BRUNSWICK COUNTY.

    Revenue $51,294

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joshua Winslow

    CEO/GENERAL

    Total calculated
    $652,081
    From this org
    $0
    From related orgs
    $454,243
    Other
    $197,838
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    not reported + $454,243 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $168,102 related
    Nontaxable benefits
    not reported + $29,736 related
    Filer's total
    not reported + $652,081 related

  • Lisa Fitzgerald

    VP FINANCE

    Total calculated
    $360,620
    From this org
    $0
    From related orgs
    $271,604
    Other
    $89,016
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    not reported + $266,341 related
    Bonus
    not reported + $5,263 related
    Other
    not reported
    Deferred
    not reported + $59,280 related
    Nontaxable benefits
    not reported + $29,736 related
    Filer's total
    not reported + $360,620 related

  • David L Gore

    DIRECTOR

    Total calculated
    $65,446
    From this org
    $2,250
    From related orgs
    $63,196
    Other
    $0
    Hours/week
    2 + 15 related

  • Larry G Fowler

    DIRECTOR

    Total calculated
    $59,146
    From this org
    $1,800
    From related orgs
    $57,346
    Other
    $0
    Hours/week
    2 + 11 related

  • Dan Strickland

    DIRECTOR

    Total calculated
    $55,096
    From this org
    $1,800
    From related orgs
    $53,296
    Other
    $0
    Hours/week
    2 + 9 related

  • John Ward

    DIRECTOR

    Total calculated
    $53,740
    From this org
    $1,800
    From related orgs
    $51,940
    Other
    $0
    Hours/week
    2 + 7 related

  • Frederick A Tedder

    DIRECTOR

    Total calculated
    $39,852
    From this org
    $1,800
    From related orgs
    $38,052
    Other
    $0
    Hours/week
    2 + 10 related

  • Perry Sellers

    PRESIDENT

    Total calculated
    $35,710
    From this org
    $2,250
    From related orgs
    $33,460
    Other
    $0
    Hours/week
    2 + 10 related

  • L Calvin Duncan

    DIRECTOR

    Total calculated
    $35,349
    From this org
    $1,800
    From related orgs
    $33,549
    Other
    $0
    Hours/week
    2 + 7 related

  • Moses Herring

    VICE PRESIDE

    Total calculated
    $25,446
    From this org
    $1,800
    From related orgs
    $23,646
    Other
    $0
    Hours/week
    2 + 2 related

  • Glen Humbert

    ASST. SEC/TR

    Total calculated
    $21,760
    From this org
    $2,250
    From related orgs
    $19,510
    Other
    $0
    Hours/week
    2 + 5 related

  • Deborah Ahlers

    SEC/TREAS

    Total calculated
    $14,260
    From this org
    $1,350
    From related orgs
    $12,910
    Other
    $0
    Hours/week
    2 + 3 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
JOSHUA WINSLOW 0 22,500 0 LISA FITZGERALD 0 21,000 0

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
26 September 2024
IRS schema version
2023v5.0
Source object
202442749349300424

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