Rural Futures Fund
- Assets
- $1.3m
- Revenue
- $144.1k
- Investments
- $99.2k
- Employees
- 0
- Location
- Portland, ME
- Founding
- 11/2007
- Data as of
- 12/2023
- EIN
- 20-8797462
Organization Overview
Rural Futures Fund is located in Portland, ME. The organization was established in 2007. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Futures Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Rural Futures Fund generated $144.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.5%) each year. All expenses for the organization totaled $657.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rural Futures Fund has awarded 84 individual grants totaling $3,962,626. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN RESPONSE TO THE SIGNIFICANT FINANCIAL HARDSHIP THE COVID-19 PANDEMIC HAD ON THE ECONOMY IN 2020 THE FOUNDATION ACTED QUICKLY TO PROVIDE NEED-BASED SUPPORT TO SEVERAL FAMILIES THAT ARE SUPPORTED BY THE VARIOUS ORGANIZATIONS LISTED IN PART XV. THE FOUNDATION'S SUPPORT HELP TO WITH THE COST OF NECESSARY FOOD AND ITEMS FOR SEVERAL FAMILIES IN CRITICAL NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin M Cinelli Associate Director And Secretary | 40 | $79,500 | |
Catharine Biddle PHD Director | 1 | $0 | |
Victoria Bonebakker Director | 1 | $0 | |
Sarah Campbell Director | 1 | $0 | |
Andrew Hudacs Director | 1 | $0 | |
Lowell Libby Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $68,482 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,849 |
| Capital Gain Net Income | $27,849 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,807 |
| Total Revenue | $144,138 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $117,119 |
| Other employee salaries and wages | $132,600 |
| Pension plans, employee benefits | $60,569 |
| Interest | $0 |
| Taxes | $1,486 |
| Depreciation | $547 |
| Occupancy | $5,200 |
| Travel, conferences, and meetings | $2,740 |
| Printing and publications | $314 |
| Other expenses | $39,842 |
| Total operating and administrative expenses | $444,469 |
| Contributions, gifts, grants paid | $212,704 |
| Total expenses and disbursements | $657,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,419 |
| Savings and temporary cash investments | $1,147,107 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $99,239 |
| Net Land, buildings, and equipment | $885 |
| Other assets | $0 |
| Total assets | $1,319,650 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Rural Futures Fund has awarded $212,704 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CENTER FOR RURAL YOUTH DEVELOPMENT PURPOSE: STARTUP COSTS | $7,704 |
MAINE YOUTH ALLIANCE PURPOSE: ASPIRATIONS INCUBATOR PROGRAM | $50,000 |
MIDCOAST YOUTH ALLIANCE PURPOSE: ASPIRATIONS INCUBATOR PROGRAM | $85,000 |
OLD-TOWN ORONO YMCA PURPOSE: ASPIRATIONS INCUBATOR PROGRAM | $20,000 |
UNIVERSITY OF MAINE PURPOSE: FUNDING SUPPORT FOR THE BRYANT POND 4-H CAMP AND LEARNING CENTER; ASPIRATIONS INCUBATOR PROGRAM | $50,000 |