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← CODEFI FOUNDATION ON RURAL INNOVATION

Form 990 for tax year 2023

Filed by CODEFI FOUNDATION ON RURAL INNOVATION.

Totals

Total revenue
$2,194,914
Total expenses
$2,402,498
Contributions and grants received
$2,029,896
Grants paid
$91,100
Program service revenue
$164,483
Investment income
$226
Other revenue
$309
Total assets, end of year
$430,740
Total liabilities, end of year
$178,605
Net assets or fund balances, end of year
$252,135
Program services expenses (Part IX)
$2,209,788
Management and general expenses
$192,710
Fundraising expenses
$0
Program service expenses (Part III)
$2,209,788

Program services were 92.0% 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)

    $2,029,896

  • 2a · Program service revenue: YOUTH CODE CAMP

    total $164,483 · related or exempt $164,483

  • 3 · Investment income

    total $226 · excluded $226

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $210 · related or exempt $210

  • 11b · Other revenue: DISCOUNTS

    total $99 · related or exempt $99

  • 11e · Other revenue, total

    $309

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $91,100 · program services $91,100

  • 7 · Other salaries and wages

    total $211,093 · program services $200,538 · management and general $10,555

  • 10 · Payroll taxes

    total $16,149 · program services $15,342 · management and general $807

  • 11b · Fees: legal

    total $23,853 · management and general $23,853

  • 11c · Fees: accounting

    total $38,975 · management and general $38,975

  • 11g · Fees: other

    total $495 · management and general $495

  • 12 · Advertising and promotion

    total $200 · management and general $200

  • 13 · Office expenses

    total $100,978 · program services $72,798 · management and general $28,180

  • 16 · Occupancy

    total $55,150 · management and general $55,150

  • 22 · Depreciation, depletion and amortization

    total $34,495 · management and general $34,495

  • 23 · Insurance

    total $1,951 · program services $1,951

  • 24a · Other expenses: DEVELOPMENT AND DELIVER

    total $1,828,059 · program services $1,828,059

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $217,009 · end of year $71,754

  • 2 · Savings and temporary cash investments

    beginning of year $10,102

  • 4 · Accounts receivable

    beginning of year $154,358 · end of year $314,461

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

    $256,173

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

    $211,648

  • 10c · Land, buildings and equipment, net

    beginning of year $79,020 · end of year $44,525

  • 17 · Accounts payable and accrued expenses

    beginning of year $770 · end of year $178,605

  • 27 · Net assets without donor restrictions

    beginning of year $459,719 · end of year $252,135

Mission and programs · 2023

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 $2,209,788 · Grants $91,100 · Revenue $164,792

As filed on the 2023 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

    PRESIDENT & CEO

    Total calculated
    $105,546
    From this org
    $105,546
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Aaron Panton

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Chris Carnell

    EXECUTIVE DIRECTOR

    Total calculated
    $105,546
    From this org
    $105,546
    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

  • SEQUEL FINANCE INC

    $33,333

    1ST 50K COMPETITION

  • TRANSITION CNA INC

    $29,167

    1ST 50K COMPETITION

  • SIZZE INC

    $28,600

    1ST 50K COMPETITION

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202413169349300701

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