Codefi Foundation On Rural Innovation
- Assets
- $460.5k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 2
- Location
- Cape Girardeau, MO
- Founding
- 06/2018
- Data as of
- 12/2022
- EIN
- 81-2556748
Organization Overview
Codefi Foundation On Rural Innovation is located in Cape Girardeau, MO. The organization was established in 2018. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Codefi Foundation On Rural Innovation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Codefi Foundation On Rural Innovation 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 12/2022, Codefi Foundation On Rural Innovation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Codefi Foundation On Rural Innovation has awarded 21 individual grants totaling $513,336. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Campbell Vice President | OfficerTrustee | 1 | $0 |
Chauncy Buchheit Secetary | OfficerTrustee | 1 | $0 |
Tim Goodman Board Member | Trustee | 1 | $0 |
Dr James Stapleton Chairperson | OfficerTrustee | 40 | $96,563 |
Aaron Panton Treasurer | OfficerTrustee | 5 | $0 |
Chris Carnell Executive Director | OfficerTrustee | 40 | $96,593 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,719,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,729,385 |
| Total Program Service Revenue | $197,617 |
| Investment income | $221 |
| 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 | $1,927,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $167,503 |
| 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 | $193,125 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,188 |
| Advertising and promotion | $0 |
| Office expenses | $80,532 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,439 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,989,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,009 |
| Savings and temporary cash investments | $10,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $154,358 |
| 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 | $79,020 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $460,489 |
| Accounts payable and accrued expenses | $770 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $770 |
| Net assets without donor restrictions | $459,719 |
| 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 | $460,489 |
Grants Awarded
Over the last fiscal year, Codefi Foundation On Rural Innovation has awarded $167,503 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
STOCKHAUS LLC PURPOSE: 1ST 50K COMPETITION | $37,500 |
WATT USA INC PURPOSE: 1ST 50K COMPETITION | $37,500 |
FOOD HAVEN TECHNOLOGIES INC PURPOSE: 1ST 50K COMPETITION | $37,500 |
SIZZE INC PURPOSE: 1ST 50K COMPETITION | $21,670 |
SEQUEL FINANCE INC PURPOSE: 1ST 50K COMPETITION | $16,667 |
TRANSITION CNA INC PURPOSE: 1ST 50K COMPETITION | $16,666 |