Center On Rural Innovation Inc
- Assets
- $3.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 17
- Location
- Hartland, VT
- Founding
- 08/2018
- Data as of
- 12/2023
- EIN
- 82-4508477
Organization Overview
Center On Rural Innovation Inc is located in Hartland, VT. The organization was established in 2018. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Center On Rural Innovation Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center On Rural Innovation 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 12/2023, Center On Rural Innovation Inc generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.0% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 36.7% per year over the past 5 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
ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF AN INCLUSIVE TECH ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL AMERICA HAS UNDERGONE SEISMIC CHANGES IN THE LAST 20 YEARS AND WE ARE COMMITTED TO USING DATA TO ENSURE THERE IS AVAILABLE RESEARCH THAT REFLECTS THIS EVOLUTION AND THE OPPORTUNITIES THAT ACCOMPANY IT. OUR TEAM OF SOFTWARE DEVELOPERS, DATA ENGINEERS, AND DATA SCIENTISTS BUILD DATA-DRIVEN MAPS, TOOLS, AND OTHER RESOURCES THAT HIGHLIGHT RURAL AMERICA'S OPPORTUNITIES AND CHALLENGES. IN DEVELOPING THESE RESOURCES, WE MAKE DATA ABOUT RURAL COMMUNITIES ACCESSIBLE, AND ALSO LOOK TO BROADEN THE CONVERSATION AND CHANGE THE NARRATIVE ABOUT WHAT'S POSSIBLE IN RURAL AMERICA.
COMMUNITY CONSULTING: WE'VE IDENTIFIED THE NECESSARY INFRASTRUCTURE COMMUNITIES NEED TO PARTICIPATE IN THE TECH ECONOMY, WHICH INCLUDE BROADBAND INFRASTRUCTURE, COWORKING AND ENTREPRENEURSHIP SPACES, AND LOCAL LEADERSHIP CAPACITY. WE PROVIDE CRITICAL SUPPORT TO ENABLE COMMUNITIES TO SECURE FUNDING, DEVELOP INFRASTRUCTURE AND IMPLEMENT THE PROGRAMS NECESSARY TO UNLOCK THE POTENTIAL OF RURAL AMERICA.
THE RURAL INNOVATION NETWORK IS A NATIONAL COMMUNITY OF PRACTICE WORKING TO ADVANCE THE ECONOMIC FUTURE OF RURAL AMERICA. THROUGH THIS NETWORK, THE CENTER ON RURAL INNOVATION BRINGS TOGETHER DIVERSE LEADERS FROM COMMUNITIES ADVANCING THEIR TECH ECONOMIES AND PROVIDES THEM WITH A RANGE OF CUSTOMIZED SOLUTIONS TO PRESSING CHALLENGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Dunne Director, Executive Direct | OfficerTrustee | 20 | $0 |
Lee Rom Director/chair | OfficerTrustee | 3 | $0 |
Tom Sperry Director/treasurer | OfficerTrustee | 3 | $0 |
Debbie Atuk Director/secretary | OfficerTrustee | 3 | $0 |
Piraye Beim Director | Trustee | 2 | $0 |
Jacob Martinez Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rural Innovation Strategies Inc Consulting - Project Work | 12/30/22 | $3,021,574 |
South End Films Video Development Of Rural Community | 12/30/22 | $101,910 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,410 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,441,512 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,592,922 |
| Total Program Service Revenue | $391,061 |
| Investment income | $58,697 |
| 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 | $6,043,680 |
| 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 | $891,775 |
| Pension plan accruals and contributions | $32,062 |
| Other employee benefits | $112,087 |
| Payroll taxes | $68,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,708 |
| Fees for services: Accounting | $15,054 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,688,048 |
| Advertising and promotion | $31 |
| Office expenses | $16,566 |
| Information technology | $98,057 |
| Royalties | $0 |
| Occupancy | $10,800 |
| Travel | $163,672 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,005 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,011 |
| All other expenses | $2,670 |
| Total functional expenses | $5,242,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,168,279 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $284,111 |
| Accounts receivable, net | $146,228 |
| 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 | $62,077 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5 |
| Intangible assets | $0 |
| Other assets | $1,856,733 |
| Total assets | $3,517,433 |
| Accounts payable and accrued expenses | $46,887 |
| 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 | $1,559,405 |
| Total liabilities | $1,606,292 |
| Net assets without donor restrictions | $1,544,766 |
| Net assets with donor restrictions | $366,375 |
| 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 | $3,517,433 |
Grants Awarded
Over the last fiscal year, Center On Rural Innovation Inc has awarded $125,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK RIVER INNOVATION CAMPUS PURPOSE: GENERAL SUPPORT FOR THE BLACK RIVER INNOVATION CAMPUS (BRIC) | $50,000 |
SPRINGFIELD VT SCHOOL DISTRICT PURPOSE: TO SUPPORT COMPUTER SCIENCE EDUCATION PROGRAMMING: SALARY & BENEFITS FOR A FT COMPUTER SCIENCE TEACHER PLUS SUPPLIES AND MATERIALS. SPRINGFIELD SCHOOL DISTRICT | $75,000 |