Rural Missouri Incorporated
- Assets
- $10.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Jefferson City, MO
- Founding
- 06/1967
- Data as of
- 09/2023
- EIN
- 43-0889695
Organization Overview
Rural Missouri Incorporated is located in Jefferson City, MO. The organization was established in 1967. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 09/2023, Rural Missouri Incorporated employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Missouri Incorporated 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 09/2023, Rural Missouri Incorporated generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $2.6m during the year ending 09/2023. While expenses have increased by 5.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RMI'S PURPOSE IS TO FURTHER PROMOTE THE ECONOMIC AND COMMERCIAL DEVELOPMENT OF STATES SITUATED IN THE MIDWESTERN UNITED STATES, PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF SMALL BUSINESS CONCERNS WITHIN RMI'S SERVICE AREA TO BENEFIT RESIDENTS OF THE MIDWESTERN STATES AS MEASURED BY INCREASED EMPLOYEMENT, PAYROLL, BUSINESS VOLUME, TAX BASE, AND CITIZEN RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FY22, RMI APPROVED3 IRP LOANS TOTALING $573,500 DURING FY22, RMI FUNDED1 INTERMEDIARY RELENDING PROGRAM (IRP) LOAN TOTALING $225K1 DIRECT LOAN TOTALING $120K8 KS SBA 504 LOANS TOTALING $4.422M15 AR SBA 504 LOANS TOTALING $12.514M32 MO SBA 504 LOANS TOTALING $21.159M RMI CREATED 633 JOBS AND RETAINED 327 JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zola Finch Executive Dir. | Officer | 40 | $279,515 |
Eileen Jennings Director | Trustee | 1 | $0 |
Tim Hagenhoff Director | Trustee | 1 | $0 |
Crissy Shumard Director | Trustee | 1 | $0 |
Michael Denight Director | Trustee | 1 | $0 |
Jane Hood Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,815,918 |
| Investment income | $292,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,116,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $305,121 |
| Compensation of current officers, directors, key employees. | $106,792 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,089,428 |
| Pension plan accruals and contributions | $74,155 |
| Other employee benefits | $109,117 |
| Payroll taxes | $91,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,913 |
| Fees for services: Accounting | $34,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,035 |
| Office expenses | $73,199 |
| Information technology | $2,545 |
| Royalties | $0 |
| Occupancy | $41,621 |
| Travel | $41,645 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,396 |
| Interest | $2,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,166 |
| Insurance | $22,993 |
| All other expenses | $1,818 |
| Total functional expenses | $2,597,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,977,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$2,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,815,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,021 |
| Net Land, buildings, and equipment | $597,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$22,535 |
| Total assets | $10,376,576 |
| Accounts payable and accrued expenses | $308,422 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $153,213 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $461,635 |
| Net assets without donor restrictions | $9,914,941 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,376,576 |