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Nonprofiteer
← CENTER FOR RURAL AFFAIRS COMMUNITY CAPITAL

Form 990 for tax year 2023

Filed by CENTER FOR RURAL AFFAIRS COMMUNITY CAPITAL.

Totals

Total revenue
$2,950,419
Total expenses
$1,843,704
Contributions and grants received
$2,289,674
Grants paid
$0
Program service revenue
$605,370
Investment income
$55,375
Other revenue
$0
Total assets, end of year
$14,821,293
Total liabilities, end of year
$5,811,520
Net assets or fund balances, end of year
$9,009,773
Program services expenses (Part IX)
$1,636,693
Management and general expenses
$164,709
Fundraising expenses
$42,302
Program service expenses (Part III)
$1,636,693

Program services were 88.8% 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)

    $1,270,384

  • 1f · All other contributions, gifts and grants

    $1,019,290

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $551,186 · related or exempt $551,186

  • 2b · Program service revenue: FEES AND REIMBURSEMENT

    total $54,184 · related or exempt $54,184

  • 3 · Investment income

    total $55,375 · excluded $55,375

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $749,416 · program services $749,416

  • 9 · Other employee benefits

    total $301,275 · program services $301,275

  • 11b · Fees: legal

    total $24,762 · program services $24,762

  • 11g · Fees: other

    total $279,456 · program services $279,456

  • 13 · Office expenses

    total $23,395 · program services $23,395

  • 16 · Occupancy

    total $16,888 · program services $16,888

  • 17 · Travel

    total $33,174 · program services $33,174

  • 19 · Conferences, conventions and meetings

    total $1,979 · program services $1,979

  • 20 · Interest

    total $54,822 · program services $54,822

  • 23 · Insurance

    total $20,275 · program services $20,275

  • 24a · Other expenses: MANAGEMENT ALLOCATED

    total $164,709 · program services $0 · management and general $164,709

  • 24b · Other expenses: COMMUNICATIONS ALLOCATE

    total $43,242 · program services $43,242

  • 24c · Other expenses: FUNDRAISING AND DEVELOP

    total $42,302 · fundraising $42,302

  • 24d · Other expenses: PUBLICATION AND SUBSCRI

    total $29,336 · program services $29,336

  • 24e · All other expenses

    total $58,673 · program services $58,673

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,307,481 · end of year $3,037,543

  • 3 · Pledges and grants receivable

    beginning of year $453,295 · end of year $362,478

  • 4 · Accounts receivable

    beginning of year $20,091 · end of year $8,827

  • 7 · Other notes and loans receivable

    beginning of year $7,398,999 · end of year $8,401,236

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,496 · end of year $16,009

  • 15 · Other assets

    beginning of year $1,740,837 · end of year $2,995,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $228,663 · end of year $24,450

  • 19 · Deferred revenue

    beginning of year -$1,000 · end of year -$1,000

  • 21 · Escrow or custodial account liability

    beginning of year $18,789 · end of year $45,950

  • 23 · Secured mortgages and notes payable

    beginning of year $3,980,162 · end of year $3,986,142

  • 25 · Other liabilities

    beginning of year $1,806,527 · end of year $1,755,978

  • 27 · Net assets without donor restrictions

    beginning of year $4,296,334 · end of year $4,797,372

  • 28 · Net assets with donor restrictions

    beginning of year $3,606,724 · end of year $4,212,401

Mission and programs · 2023

Mission

PROVIDES FINANCING AND TECHNICAL ASSISTANCE IN SUPPORT OF SMALL BUSINESSES AND COMMUNITY DEVELOPMENT IN GENERAL.

  • MICROLOAN PROGRAM FOR SMALL BUSINESSES.

    Expenses $1,636,693 · Revenue $605,370

As filed on the 2023 return.

Listed in Part VII

  • Jay Hall

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Chuck Karpf

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Ross Larson

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • Leverne Barrett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Krista Dittman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Rachel Liester

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Steele Valenzuela

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Brian Depew

    EXECUTIVE DIRECTOR

    Total calculated
    $174,577
    From this org
    $0
    From related orgs
    $157,319
    Other
    $17,258
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $0 + $157,319 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,000 related
    Nontaxable benefits
    $0 + $9,258 related
    Filer's total
    $0 + $174,577 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 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

PART I, LINE 3
THE EXECUTIVE DIRECTOR'S COMPENSATION IS SET ANNUALLY BY THE CENTER FOR RURAL AFFAIRS' BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE AND COMPARABLES WITHIN THE NONPROFIT INDUSTRY.

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
4 April 2025
IRS schema version
2023v6.0
Source object
202500989349300305

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