Crossroads Rural Entrepreneurial Institute Inc
- Assets
- $3.8m
- Revenue
- $642.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Galax, VA
- Founding
- 05/2002
- Data as of
- 06/2022
- EIN
- 80-0015714
Organization Overview
Crossroads Rural Entrepreneurial Institute Inc is located in Galax, VA. The organization was established in 2002. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crossroads Rural Entrepreneurial Institute Inc 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 06/2022, Crossroads Rural Entrepreneurial Institute Inc generated $642.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $675.0k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CONTRIBUTE TO THE CONTINUING REVITALIZATION OF THE REGION'S ECONOMY AND OFFER A BRIGHTER FUTURE FOR OUR CITIZENS THROUGH AN INNOVATIVE CENTER FOR EDUCATIONAL AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPROVE THE LIVES OF PEOPLE IN SOUTHWEST VIRGINIA BY PROVIDING AN INNOVATIVE STATE OF THE ART ECONOMIC DEVELOPMENT ENGINE COUPLING EDUCATION WITH ECONOMIC POTENTIAL OF THE COMMUNITY
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth R Belton Chair | OfficerTrustee | 1 | $0 |
Mark A Burnette Vice Chair | OfficerTrustee | 1 | $0 |
Kelly Poe Treasurer | OfficerTrustee | 1 | $0 |
Susan Tilley Member | Trustee | 1 | $0 |
Willie T Greene Member | Trustee | 1 | $0 |
Rex L Hill Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $112,455 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,255 |
| Total Program Service Revenue | $515,064 |
| Investment income | $72 |
| 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 | $642,468 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,263 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,700 |
| Advertising and promotion | $558 |
| Office expenses | $3,922 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $78,195 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $155,832 |
| Insurance | $16,860 |
| All other expenses | $35,148 |
| Total functional expenses | $675,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,244 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,575,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,833,076 |
| Accounts payable and accrued expenses | $25,034 |
| Grants payable | $0 |
| Deferred revenue | $4,856 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,909,987 |
| Other liabilities | $5,091 |
| Total liabilities | $1,944,968 |
| Net assets without donor restrictions | $1,888,108 |
| 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 | $3,833,076 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Crossroads Rural Entrepreneurial Institute Inc has recieved totaling $89,660.
| Awarding Organization | Amount |
|---|---|
Twin County Community Foundation Galax, VA PURPOSE: Healthcare Improvement | $44,830 |
Twin County Community Foundation Galax, VA PURPOSE: Healthcare Improvement | $44,830 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Seminar Network Inc Arlington, VA | $360,026,954 | $278,674,897 |
West Virginia University Medical Corporation Morgantown, WV | $21,363,966 | $59,205,918 |
Old Dominion Land Conservancy Inc Purcellville, VA | $5,990,691 | $40,101,797 |
Maryland Innovation And Security Institute Inc Baltimore, MD | $10,081,190 | $24,715,450 |
Community Action Council Of Howard County Md Inc Columbia, MD | $15,922,810 | $23,897,066 |
Cal Ripken Sr Foundation Inc Baltimore, MD | $24,973,997 | $16,406,660 |
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |