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Nonprofiteer
← ROCKY MOUNTAIN MICROFINANCE INSTITUTE

Form 990 for tax year 2024

Filed by ROCKY MOUNTAIN MICROFINANCE INSTITUTE.

Totals

Total revenue
$2,757,406
Total expenses
$3,051,914
Contributions and grants received
$2,625,315
Grants paid
$142,900
Program service revenue
$116,784
Investment income
$15,307
Other revenue
$0
Total assets, end of year
$2,446,252
Total liabilities, end of year
$687,258
Net assets or fund balances, end of year
$1,758,994
Program services expenses (Part IX)
$2,468,748
Management and general expenses
$241,275
Fundraising expenses
$341,891
Program service expenses (Part III)
$2,468,748

Program services were 80.9% 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)

    $1,239,943

  • 1f · All other contributions, gifts and grants

    $1,385,372

  • 2a · Program service revenue: Contracts and Consulti

    total $87,761 · related or exempt $87,761

  • 2b · Program service revenue: Loan Collection Income

    total $18,651 · related or exempt $18,651

  • 2c · Program service revenue: Business Class Income

    total $9,915 · related or exempt $9,915

  • 2d · Program service revenue: Facility Rental Income

    total $457 · related or exempt $457

  • 3 · Investment income

    total $15,307 · excluded $15,307

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $142,900 · program services $142,900

  • 5 · Compensation of officers, directors and key employees

    total $138,693 · program services $111,426 · management and general $11,553 · fundraising $15,714

  • 7 · Other salaries and wages

    total $2,261,507 · program services $1,816,894 · management and general $188,384 · fundraising $256,229

  • 11a · Fees: management

    total $21,990 · program services $17,666 · management and general $1,832 · fundraising $2,492

  • 11c · Fees: accounting

    total $40,667 · program services $32,672 · management and general $3,389 · fundraising $4,606

  • 11e · Fees: professional fundraising services

    total $14,026 · fundraising $14,026

  • 11g · Fees: other

    total $117,871 · program services $94,698 · management and general $9,816 · fundraising $13,357

  • 13 · Office expenses

    total $31,112 · program services $24,995 · management and general $2,592 · fundraising $3,525

  • 14 · Information technology

    total $48,334 · program services $38,832 · management and general $4,026 · fundraising $5,476

  • 16 · Occupancy

    total $81,760 · program services $65,686 · management and general $6,811 · fundraising $9,263

  • 23 · Insurance

    total $7,370 · program services $5,896 · management and general $737 · fundraising $737

  • 24a · Other expenses: Direct Program Payments

    total $101,571 · program services $81,602 · management and general $8,461 · fundraising $11,508

  • 24b · Other expenses: Staff Development

    total $26,025 · program services $20,908 · management and general $2,168 · fundraising $2,949

  • 24c · Other expenses: Community Engagement

    total $16,760 · program services $13,465 · management and general $1,396 · fundraising $1,899

  • 24d · Other expenses: Dues & Memberships

    total $1,103 · program services $883 · management and general $110 · fundraising $110

  • 24e · All other expenses

    total $225 · program services $225

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $708,411 · end of year $198,815

  • 2 · Savings and temporary cash investments

    beginning of year $1,062,877 · end of year $1,286,880

  • 3 · Pledges and grants receivable

    beginning of year $492,383 · end of year $520,053

  • 4 · Accounts receivable

    beginning of year $9,318

  • 7 · Other notes and loans receivable

    beginning of year $319,783 · end of year $334,363

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

    $27,574

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

    $27,574

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $161,518 · end of year $106,141

  • 17 · Accounts payable and accrued expenses

    beginning of year $134,655 · end of year $92,888

  • 24 · Unsecured notes and loans payable

    beginning of year $400,000 · end of year $483,300

  • 25 · Other liabilities

    beginning of year $166,133 · end of year $111,070

  • 27 · Net assets without donor restrictions

    beginning of year $1,916,861 · end of year $1,758,994

  • 28 · Net assets with donor restrictions

    beginning of year $136,641 · end of year $0

Mission and programs · 2024

Mission

RMMFI CREATES THE SPACE FOR COMMUNITIES AND PEOPLE OF ALL BACKGROUNDS TO REALIZE THEIR UNIQUE POTENTIAL THROUGH THE POWER OF ENTREPRENEURSHIP. RMMFI INVESTS IN ENTREPRENEURS' PERSONAL AND BUSINESS DEVELOPMENT THROUGH A PROVEN MIX OF CLASSROOM, COACHING

Activities or mission (Part I)

RMMFI creates the space for communities and people of all backgrounds to realize their unique potential through the power of entrepreneurship. RMMFI invests in entrepreneurs' personal and business development through a proven mix of classroom instructions, coaching, captial, and community. Since 2008, RMMFI has supported the launch or expansion of more than 785 businesses in Colorado, approximately 805 of which are owned by women and/or people of color. RMMFI has made loans totaling over $1,733,387 and experienced a 93% repayment rate. Intentionally built along the "Idea, Launch, and Thrive" business incubator pathway, RMMFI's programs help entrepreneurs build strong foundations in both their businesses and their lives. The Organization's holistic approach brings people, businesses, and coummunities together to allow indivduals to tap into the social and economic benefits of business ownership and create impact for their business, their household, and their community.

  • IDEA- EVERY ENTREPRENEUR'S JOURNEY STARTS WITH AN IDEA. WHETHER IN BUSINESS FOR A WHILE AND HAVEN'T SEEN THE RESULTS THEY'VE WANTED OR HAVE MULTIPLE IDEAS AND CAN'T DECIDE WHICH TO PURSUE, THE IDEA PHASE OF RMMFI'S PROGRAMMING HELPS BUILD THE FOUNDATIONS NEEDED FOR SUCCESS. INIDEA, QUALIFIED ENTREPRENEURS CAN RECEIVE: COHORT-BASED PROGRAMMING,MENTORSHIP, AND SEED CAPITAL.LAUNCH - AFTER COMPLETING THE IDEA PHASE, RMMFI INVITES QUALIFIEDENTREPRENEURS TO CONTINUE THEIR BUSINESS JOURNEY IN THE LAUNCH PHASE.JUST LIKE IT SOUNDS, LAUNCH IS ALL ABOUT HELPING GET BUSINESSES UP ANDRUNNING WITH AN ACTIONABLE PLANS AND ALL THE TOOLS AND SUPPORT THEYNEED. THE LAUNCH PHASE BEGINS WITH BUSINESS LAUNCH BOOT CAMP, A

    Expenses $2,468,748 · Grants $142,900 · Revenue $116,784

As filed on the 2024 return.

Listed in Part VII

  • Jay Whisenton

    Chair

    Total calculated
    $0
    Hours/week
    3

  • Rebecca Darling

    Secretry

    Total calculated
    $0
    Hours/week
    3

  • Deanna Mettler

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Phil Workman

    Member

    Total calculated
    $0
    Hours/week
    2

  • Edgar Aguilar

    Member

    Total calculated
    $0
    Hours/week
    2

  • Vikki Fininen

    Member

    Total calculated
    $0
    Hours/week
    2

  • Noel Carter

    Member

    Total calculated
    $0
    Hours/week
    2

  • Briana Butler

    Member

    Total calculated
    $0
    Hours/week
    2

  • Svetlana Mikhaylova

    Member

    Total calculated
    $0
    Hours/week
    2

  • Jessica Sveen

    CEO

    Total calculated
    $138,693
    From this org
    $138,693
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Ryan Flanders

    Director

    Total calculated
    $104,062
    From this org
    $104,062
    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
27 May 2026
IRS schema version
2024v5.5
Source object
202611489349300896

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