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← CODEFI FOUNDATION ON RURAL INNOVATION

Form 990 for tax year 2022

Filed by CODEFI FOUNDATION ON RURAL INNOVATION.

Totals

Total revenue
$1,927,331
Total expenses
$1,989,779
Contributions and grants received
$1,729,385
Grants paid
$167,503
Program service revenue
$197,617
Investment income
$221
Other revenue
$108
Total assets, end of year
$460,489
Total liabilities, end of year
$770
Net assets or fund balances, end of year
$459,719
Program services expenses (Part IX)
$1,911,909
Management and general expenses
$77,870
Fundraising expenses
$0
Program service expenses (Part III)
$1,911,909

Program services were 96.1% 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.

  • 1e · Government grants (contributions)

    $1,719,385

  • 1f · All other contributions, gifts and grants

    $10,000

  • 2a · Program service revenue: YOUTH CODE CAMP

    total $197,617 · related or exempt $197,617

  • 3 · Investment income

    total $221 · excluded $221

  • 11a · Other revenue: DISCOUNTS

    total $108 · excluded $108

  • 11e · Other revenue, total

    $108

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $167,503 · program services $167,503

  • 7 · Other salaries and wages

    total $193,125 · program services $183,469 · management and general $9,656

  • 10 · Payroll taxes

    total $14,858 · program services $14,115 · management and general $743

  • 11c · Fees: accounting

    total $9,000 · management and general $9,000

  • 11g · Fees: other

    total $2,188 · program services $2,010 · management and general $178

  • 13 · Office expenses

    total $80,532 · program services $57,962 · management and general $22,570

  • 22 · Depreciation, depletion and amortization

    total $35,439 · management and general $35,439

  • 24a · Other expenses: DEVELOPMENT AND DELIVER

    total $1,486,850 · program services $1,486,850

  • 24b · Other expenses: EQUIPMENT RENTAL

    total $284 · management and general $284

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $282,450 · end of year $217,009

  • 2 · Savings and temporary cash investments

    beginning of year $39,046 · end of year $10,102

  • 4 · Accounts receivable

    beginning of year $90,881 · end of year $154,358

  • 9 · Prepaid expenses and deferred charges

    beginning of year $284

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

    $256,173

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

    $177,153

  • 10c · Land, buildings and equipment, net

    beginning of year $114,459 · end of year $79,020

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,953 · end of year $770

  • 27 · Net assets without donor restrictions

    beginning of year $522,167 · end of year $459,719

Mission and programs · 2022

Mission

THE FOUNDATION IS DEDICATED TO IMPROVING THE QUALITY OF LIFE BY ACCELERATING ECONOMIC DEVELOPMENT THROUGH ACCESS TO EDUCATION, MENTORING, TECHNOLOGY, CAPITAL, AND PROVIDING INCREASED AND EFFICIENT INTERNET, NETWORK, AND TECHNOLOGY CONNECTIVITY AND ACCESS TO CITIZENS AND BUSINESSES.

  • IMPROVED THE QUALITY OF LIFE BY ACCELERATING ECONOMIC DEVELOPMENT THROUGH ACCESS TO EDUCATION, MENTORING, TECHNOLOGY, CAPITAL, AND PROVIDING INCREASED AND EFFICIENT INTERNET, NETWORK, AND TECHNOLOGY CONNECTIVITY AND ACCESS TO CITIZENS AND BUSINESSES.

    Expenses $1,911,909 · Grants $167,503 · Revenue $197,617

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Glenn Campbell

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Chauncy Buchheit

    SECETARY

    Total calculated
    $0
    Hours/week
    1

  • Tim Goodman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr James Stapleton

    CHAIRPERSON

    Total calculated
    $96,563
    From this org
    $96,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Aaron Panton

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Chris Carnell

    EXECUTIVE DIRECTOR

    Total calculated
    $96,593
    From this org
    $96,593
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

  • STOCKHAUS LLC

    $37,500

    1ST 50K COMPETITION

  • WATT USA INC

    $37,500

    1ST 50K COMPETITION

  • FOOD HAVEN TECHNOLOGIES INC

    $37,500

    1ST 50K COMPETITION

  • SIZZE INC

    $21,670

    1ST 50K COMPETITION

  • SEQUEL FINANCE INC

    $16,667

    1ST 50K COMPETITION

  • TRANSITION CNA INC

    $16,666

    1ST 50K COMPETITION

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349302973

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