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Nonprofiteer
← CENTER ON RURAL INNOVATION INC

Form 990 for tax year 2022

Filed by CENTER ON RURAL INNOVATION INC.

Totals

Total revenue
$3,508,095
Total expenses
$4,751,153
Contributions and grants received
$3,225,473
Grants paid
$15,873
Program service revenue
$276,604
Investment income
$6,018
Other revenue
$0
Total assets, end of year
$3,616,357
Total liabilities, end of year
$2,506,515
Net assets or fund balances, end of year
$1,109,842
Program services expenses (Part IX)
$3,694,889
Management and general expenses
$862,238
Fundraising expenses
$194,026
Program service expenses (Part III)
$3,694,889

Program services were 77.8% 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)

    $4,341

  • 1f · All other contributions, gifts and grants

    $3,221,132

  • 2a · Program service revenue: CONTRACT REVENUE

    total $215,872 · related or exempt $215,872

  • 2b · Program service revenue: MEMBER FEE

    total $52,500 · related or exempt $52,500

  • 2c · Program service revenue: CORI BRANDED MERCHANDI

    total $4,823 · related or exempt $4,823

  • 2d · Program service revenue: SPEAKER FEE

    total $3,409 · related or exempt $3,409

  • 3 · Investment income

    total $6,018 · excluded $6,018

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,873 · program services $15,873

  • 7 · Other salaries and wages

    total $822,535 · program services $753,657 · management and general $20,460 · fundraising $48,418

  • 8 · Pension plan contributions

    total $30,383 · program services $27,838 · management and general $756 · fundraising $1,789

  • 9 · Other employee benefits

    total $94,030 · program services $86,157 · management and general $2,338 · fundraising $5,535

  • 10 · Payroll taxes

    total $64,288 · program services $58,905 · management and general $1,599 · fundraising $3,784

  • 11b · Fees: legal

    total $5,807 · management and general $5,807

  • 11c · Fees: accounting

    total $71,050 · management and general $71,050

  • 11g · Fees: other

    total $3,405,042 · program services $2,597,054 · management and general $675,808 · fundraising $132,180

  • 12 · Advertising and promotion

    total $1,598 · program services $775 · fundraising $823

  • 13 · Office expenses

    total $11,611 · program services $907 · management and general $9,911 · fundraising $793

  • 14 · Information technology

    total $64,096 · program services $855 · management and general $63,167 · fundraising $74

  • 16 · Occupancy

    total $4,455 · program services $4,455

  • 17 · Travel

    total $49,121 · program services $48,263 · management and general $605 · fundraising $253

  • 19 · Conferences, conventions and meetings

    total $88,139 · program services $85,232 · management and general $2,757 · fundraising $150

  • 23 · Insurance

    total $3,574 · management and general $3,574

  • 24a · Other expenses: OTHER

    total $13,841 · program services $9,831 · management and general $4,010

  • 24b · Other expenses: EMPLOYEE TRAINING

    total $5,314 · program services $5,087 · fundraising $227

  • 24c · Other expenses: TAXES

    total $396 · management and general $396

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $681,071 · end of year $553,343

  • 3 · Pledges and grants receivable

    beginning of year $1,161,000 · end of year $196,026

  • 4 · Accounts receivable

    beginning of year $29,187 · end of year $35,626

  • 9 · Prepaid expenses and deferred charges

    beginning of year $558,957 · end of year $102,975

  • 13 · Investments: program-related

    beginning of year $5 · end of year $5

  • 15 · Other assets

    beginning of year $1,535,255 · end of year $2,728,382

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,799 · end of year $34,668

  • 22 · Loans and payables to officers and key people

    beginning of year $41,277 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,521,499 · end of year $2,471,847

  • 27 · Net assets without donor restrictions

    beginning of year $2,340,939 · end of year $774,935

  • 28 · Net assets with donor restrictions

    beginning of year $11,961 · end of year $334,907

Mission and programs · 2022

Mission

ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF INCLUSIVE TECH ECONOMY ECOSYSTEMS THAT SUPPORT SCALABLE ENTREPRENEURSHIP AND TECH JOB CREATION.

Activities or mission (Part I)

ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF AN INCLUSIVE TECH ECONOMY.

  • RESEARCH AND MAPPING, DATA, AND ANALYTICS: WE RECOGNIZE THE CRITICAL IMPORTANCE OF MAKING DATA AND RESEARCH BOTH AVAILABLE AND ACCESSIBLE TO COMMUNITY LEADERS, AMONG OTHERS. WITH PHILANTHROPIC SUPPORT, WE BEGAN TO BUILD DATA-DRIVEN MAPS, TOOLS, AND OTHER RESOURCES THAT HIGHLIGHT RURAL AMERICA'S OPPORTUNITIES AND CHALLENGES. IN DEVELOPING THESE RESOURCES, WE HOPE NOT JUST TO MAKE DATA ABOUT RURAL COMMUNITIES ACCESSIBLE, BUT ALSO TO BROADEN THE CONVERSATION AND CHANGE THE NARRATIVE ABOUT WHAT'S POSSIBLE IN RURAL AMERICA. OUR TEAM OF SEASONED ECONOMISTS, RESEARCHERS, ANALYSTS AND SOFTWARE ENGINEERS WORKS WITH RURAL DATA TO CREATE A LARGER PICTURE AND UPDATED VIEW OF WHAT IS DRIVING CHANGE IN SMALL TOWNS AND COMMUNITIES ACROSS THE COUNTRY.

    Expenses $1,033,152

  • COMMUNITY CONSULTING: WE'VE IDENTIFIED THE NECESSARY INFRASTRUCTURE COMMUNITIES NEED TO PARTICIPATE IN THE TECH ECONOMY, WHICH INCLUDE BROADBAND INFRASTRUCTURE, COWORKING AND ENTREPRENEURSHIP SPACES, AND LOCAL LEADERSHIP CAPACITY. DURING 2022, WE PROVIDED CRITICAL SUPPORT TO ENABLE COMMUNITIES TO SECURE FUNDING, DEVELOP INFRASTRUCTURE AND IMPLEMENT THE PROGRAMS NECESSARY TO UNLOCK THE POTENTIAL OF RURAL AMERICA.

    Expenses $1,000,549 · Grants $10,000 · Revenue $37,268

  • WE HAVE BUILT A NATIONWIDE NETWORK OF RURAL COMMUNITIES WORKING ON SIMILARLY ALIGNED TECH ECONOMY STRATEGIES CALLED THE RURAL INNOVATION NETWORK. THE RURAL INNOVATION NETWORK HOSTS AN ANNUAL CONVENING AND PROVIDES YEAR-ROUND PROGRAMMING THAT SUPPORTS THEIR EFFORTS AND CONNECTS THEM TO EACH OTHER, AND LARGER NATIONAL RESOURCES THAT CAN FURTHER THEIR WORK ACROSS THE COUNTRY.

    Expenses $831,938 · Grants $5,872

  • OTHER PROGRAMS:THROUGH OUR RURAL INNOVATION INITIATIVE, OUR TEAM WORKS WITH COHORTS OF RURAL COMMUNITIES TO CREATE PLACE-BASED TECH ECONOMY STRATEGIES, AN ECONOMIC DEVELOPMENT MODEL THAT AIMS TO EDUCATE AND TRAIN LOCAL RESIDENTS IN DIGITAL SKILLS, EMPLOY THEM IN TECH JOBS, AND EMPOWER THEM TO LAUNCH THE STARTUPS THAT WILL DRIVE THEIR LOCAL ECONOMY. SINCE LAUNCHING IN 2019, WE'VE HELPED OUR COMMUNITIES RAISE MORE THAN $29 MILLION IN FEDERAL FUNDING AND MATCHING DOLLARS THROUGH THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION'S HIGHLY COMPETITIVE BUILD TO SCALE VENTURE CHALLENGE GRANT.OUR THOUGHT LEADERSHIP EFFORTS HAVE BEEN FOCUSED ON SHIFTING THE NARRATIVE ABOUT WHAT IS POSSIBLE IN RURAL AMERICA. WE'VE PUBLISHED CASE STUDIES, SHORT DOCUMENTARY FILMS, HOSTED WEBINARS, AND CONTRIBUTED OP-EDS TO HIGHLIGHT POSITIVE EXAMPLES OF TECH JOBS AND ENTREPRENEURSHIP IN SMALL TOWNS ACROSS THE COUNTRY.

    Expenses $829,250 · Revenue $239,336

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

Listed in Part VII

  • Matt Dunne

    DIRECTOR, EXECUTIVE DIRECT

    Total calculated
    $0
    Hours/week
    20

  • Jeff Navin

    DIRECTOR/CHAIR/PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Mark Beliveau

    DIRECTOR (THROUGH MARCH 14)

    Total calculated
    $0
    Hours/week
    2

  • Adam Quinn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lee Rom

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Stephanie Cornell

    DIRECTOR/SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Charles Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Groeneveld

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Debbie Atuk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Sperry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mark Rembert

    DIRECTOR OF RESEARCH AND K

    Total calculated
    $118,657
    From this org
    $103,705
    From related orgs
    $0
    Other
    $14,952
    Hours/week
    40

  • Kate Duffy

    DEVELOPMENT DIRECTOR

    Total calculated
    $127,099
    From this org
    $111,297
    From related orgs
    $0
    Other
    $15,802
    Hours/week
    40

  • Breyana Ray

    DIRECTOR OF RURAL INNOVATION NETWORK

    Total calculated
    $114,215
    From this org
    $108,591
    From related orgs
    $0
    Other
    $5,624
    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

  • GLOBAL ENTREPRENEUR IN RESIDENCE COALITION INC

    $10,000

    LAUNCH AND SCALE GLOBAL ENTREPRENEUR IN RESIDENCE PROGRAMS ACROSS CORI'S SERVED REGIONS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CORI INNOVATION FUND LLC

    OPPORTUNITY ZONE INVESTMENT FUND · VT · 0.1% owned · share of assets $44 · general or managing partner

    Directly controlled by CIF MANAGEMENT INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CIF MANAGEMENT INC

    C · INVESTMENT FUND MANAGEMENT · VT · 100% owned · share of income $42,564 · share of assets $206,991 · controlled entity

    Directly controlled by CENTER ON RURAL INNOVATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202302989349300525

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