Rural Consumer Services Corporation
- Assets
- $4.0m
- Revenue
- $308.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Shallotte, NC
- Founding
- 08/2000
- Data as of
- 12/2021
- EIN
- 56-1553250
Organization Overview
Rural Consumer Services Corporation is located in Shallotte, NC. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Consumer Services Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Rural Consumer Services Corporation generated $308.8k 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 (4.8%) each year. All expenses for the organization totaled $278.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO PROMOTE NEW BUSINESS DEVELOPMENT, BUSINESS EXPANSION, AND BUSINESS RETENTION IN BRUNSWICK AND COLUMBUS COUNTIES; TO PARTNER WITH STATE AND LOCAL AUTHORITIES AND ORGANIZATIONS TO AFFORD THE TOOLS REQUIRED TO MOVE MORE CITIZENS AND BUSINESSES INTO THE TECHNOLOGY AGE AND TO LONG-TERM ECONOMIC PROSPERITY; TO ORGANIZE ECONOMIC DEVELOPMENT ACTIVITIES WITH THE GOAL OF MAKING THE ACTIVITIES FINANCIALLY SELF-SUSTAINING OVER TIME; AND ULTIMATELY TO HELP CREATE AND RETAIN JOBS FOR THE CITIZENS OF OUR AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OPERATION OF A WEATHERIZATION LOAN PROGRAM FOR RESIDENTS OF BRUNSWICK AND COLUMBUS COUNTIES, NC. THIS PROGRAM OFFERS LOW-INTEREST LOANS TO RESIDENTIAL AND SMALL COMMERCIAL BUILDING OWNERS FOR ENERGY EFFICIENCY IMPROVEMENTS.
LEASING OF DARK FIBER AND OPTIC EQUIPMENT. THIS EFFORT WAS INITIALIZED BY THE STATE OF NORTH CAROLINA IN 1999 TO PROMOTE ECONOMIC DEVELOPMENT AND PROVIDE BROADBAND INTERNET ACCESS SERVICES TO THE RURAL AREAS OF THE STATE.
GRANTS TO ECONOMIC DEVELOPMENT ORGANIZATIONS IN COLUMBUS AND BRUNSWICK COUNTIES, NC TO FOSTER ECONOMIC GROWTH.
RENTAL OF A SECURE TELECOMMUNICATIONS ROOM AND RACK SPACE TO A COMMERCIAL TELECOMMUNICATIONS COMPANY THAT PROVIDES AN INTERNET "POINT OF PRESENCE" THAT IS USED BY LOCAL GOVERNMENT FACILITIES, PROVIDING A LOW-COST ALTERNATIVE FOR THE CITIZENS OF BRUNSWICK COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry G Fowler Sec/treas | OfficerTrustee | 2 | $1,800 |
Dan Strickland President | OfficerTrustee | 2 | $1,800 |
Moses Herring Vice Preside | OfficerTrustee | 2 | $1,800 |
Deborah Ahlers Asst Sec/tre | OfficerTrustee | 2 | $1,800 |
John Ward Director | Trustee | 2 | $1,800 |
David L Gore Director | Trustee | 2 | $1,800 |
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 | $177,890 |
| Investment income | $130,861 |
| 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 | $308,751 |
| 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. | $17,100 |
| Compensation of current officers, directors, key employees. | $17,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,000 |
| 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 | $117,382 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,588 |
| Travel | $2,706 |
| 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 | $32,923 |
| Depreciation, depletion, and amortization | $444 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $278,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,559,124 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,831 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,237,614 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $52,205 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $97,856 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,987,630 |
| Accounts payable and accrued expenses | $216 |
| 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 | $1,820,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,820,716 |
| Net assets without donor restrictions | $2,166,914 |
| 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 | $3,987,630 |
Grants Awarded
Over the last fiscal year, Rural Consumer Services Corporation has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Leland, NC PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
Elizabethtown, NC PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-Atlantic Broadband Communities Corporation South Boston, VA | $87,739,365 | $16,699,414 |
Rural Economic Development Center Inc Raleigh, NC | $223,566,149 | $11,378,133 |
Virginia Coalfield Coalition Inc Lebanon, VA | $15,855,826 | $1,388,700 |
Appalachian Community Action & Development Agency Inc Gate City, VA | $1,460,417 | $1,629,556 |
W A M Y Community Action Inc Boone, NC | $1,852,412 | $1,596,975 |
Small Business Access Partners Inc Gainesville, GA | $5,230,470 | $1,254,670 |
The Living River Restoration Trust Norfolk, VA | $5,847,476 | $301,151 |
Jubilee House Community Monroe, NC | $1,379,747 | $749,051 |
Franklinton Center Inc Whitakers, NC | $1,836,066 | $608,317 |
Working Landscapes Warrenton, NC | $1,101,275 | $924,937 |
Upper Cumberland Entrepreneurial Foundation Cookeville, TN | $445,074 | $494,857 |
Appalachian Independence Center Inc Abingdon, VA | $418,208 | $461,593 |