Center On Rural Innovation Inc
- Assets
- $4.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Hartland, VT
- Founding
- 08/2018
- Data as of
- 12/2021
- 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 12/2021, Center On Rural Innovation Inc employed 12 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 12/2021, Center On Rural Innovation Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 38.4% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. 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
ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF INCLUSIVE TECH ECONOMY ECOSYSTEMS THAT SUPPORT SCALABLE ENTREPRENEURSHIP AND TECH JOB CREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH OUR RURAL INNOVATION INITIATIVE, OUR TEAM WORKS WITH COHORTS OF RURAL COMMUNITIES TO CREATE PLACE-BASED TECH ECONOMY STRATEGIES, AN ECONOMIC DEVELOPMENT MODEL THAT AIMS TO EDUCATE AND TRAIN LOCAL RESIDENTS IN DIGITAL SKILLS, EMPLOY THEM IN TECH JOBS, AND EMPOWER THEM TO LAUNCH THE STARTUPS THAT WILL DRIVE THEIR LOCAL ECONOMY. SINCE LAUNCHING IN 2019, WE'VE HELPED OUR COMMUNITIES RAISE MORE THAN $17 MILLION IN FEDERAL FUNDING AND MATCHING DOLLARS THROUGH THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION'S HIGHLY COMPETITIVE BUILD TO SCALE VENTURE CHALLENGE GRANT.
WE HAVE BUILT A NATIONWIDE NETWORK OF RURAL COMMUNITIES WORKING ON SIMILARLY ALIGNED TECH ECONOMY STRATEGIES CALLED THE RURAL INNOVATION NETWORK. THE RURAL INNOVATION NETWORK HOSTS AN ANNUAL CONVENING AND PROVIDES YEAR-ROUND PROGRAMMING THAT SUPPORTS THEIR EFFORTS AND CONNECTS THEM TO EACH OTHER, AND LARGER NATIONAL RESOURCES THAT CAN FURTHER THEIR WORK.
OUR THOUGHT LEADERSHIP EFFORTS HAVE BEEN FOCUSED ON SHIFTING THE NARRATIVE ABOUT WHAT IS POSSIBLE IN RURAL AMERICA. WE'VE PUBLISHED CASE STUDIES, SHORT DOCUMENTARY FILMS, HOSTED WEBINARS, AND CONTRIBUTED OP-EDS TO HIGHLIGHT POSITIVE EXAMPLES OF TECH JOBS AND ENTREPRENEURSHIP IN SMALL TOWNS ACROSS THE COUNTRY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Rembert Director Of Research And Knowledge | 40 | $121,000 | |
Matt Dunne Director, Executive Direct | OfficerTrustee | 20 | $0 |
Lee Rom Treasurer (appt 12/2021) | OfficerTrustee | 2 | $0 |
Jay Boren Treasurer (left 4/9/21) | OfficerTrustee | 3 | $0 |
Jeff Navin Chair | OfficerTrustee | 3 | $0 |
Mark Beliveau Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,187 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,779,221 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,808,408 |
| Total Program Service Revenue | $69,602 |
| Investment income | $2,927 |
| 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 | $1,904,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $524,306 |
| Pension plan accruals and contributions | $18,143 |
| Other employee benefits | $100,033 |
| Payroll taxes | $43,586 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,040 |
| Fees for services: Accounting | $31,273 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,006,567 |
| Advertising and promotion | $122,449 |
| Office expenses | $29,722 |
| Information technology | $40,603 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,897 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,702 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,631 |
| All other expenses | $0 |
| Total functional expenses | $3,025,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $681,071 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,161,000 |
| Accounts receivable, net | $29,187 |
| 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 | $558,957 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5 |
| Intangible assets | $0 |
| Other assets | $1,535,255 |
| Total assets | $3,965,475 |
| Accounts payable and accrued expenses | $49,799 |
| 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 | $41,277 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,521,499 |
| Total liabilities | $1,612,575 |
| Net assets without donor restrictions | $2,340,939 |
| Net assets with donor restrictions | $11,961 |
| 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 | $3,965,475 |
Grants Awarded
Over the last fiscal year, Center On Rural Innovation Inc has awarded $125,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
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 |
BLACK RIVER INNOVATION CAMPUS PURPOSE: GENERAL SUPPORT FOR THE BLACK RIVER INNOVATION CAMPUS (BRIC) | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Center On Rural Innovation Inc has recieved totaling $2,402,690.
| Awarding Organization | Amount |
|---|---|
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78376 CREATING COMPELLING DATA-VISUALIZATION, EVID | $499,883 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78376 CREATING COMPELLING DATA-VISUALIZATION, EVID | $499,882 |
Ascendium Education Solutions Inc Madison, WI PURPOSE: Exploring Pathways to Sustainable Digital Employment in Rural Communities | $403,100 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $250,325 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT TO ESTABLISH A COHORT OF FOUR RURAL HEARTLAND COMMUNITIES FOR THE PURPOSE OF PROVIDING CUSTOMIZED ECOSYSTEM STRATEGIES AND EDUCATION PROGRAMS FOR ENTREPRENEURS AND COMMUNITY LEADERS. 202105-10653 | $150,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT TO ESTABLISH A COHORT OF FOUR RURAL HEARTLAND COMMUNITIES FOR THE PURPOSE OF PROVIDING CUSTOMIZED ECOSYSTEM STRATEGIES AND EDUCATION PROGRAMS FOR ENTREPRENEURS AND COMMUNITY LEADERS. 202105-10653 | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Allegany County Community Opportunities And Rural Developmen Belmont, NY | $2,583,412 | $6,739,671 |
La Peninsula Community Organization Inc Bronx, NY | $2,816,738 | $5,481,479 |
Center On Rural Innovation Inc Hartland, VT | $3,965,475 | $1,904,173 |
Retreat Farm Brattleboro, VT | $8,221,926 | $3,402,767 |
Western Catskills Community Revitalization Council Inc Stamford, NY | $944,018 | $1,125,761 |
Vermont Council On Rural Development Inc Montpelier, VT | $695,971 | $938,553 |
Clayton Improvement Associaton Ltd Clayton, NY | $3,493,808 | $787,100 |
Chautauqua County Rural Ministries Inc Dunkirk, NY | $331,824 | $875,611 |
Hudson Valley Agri-Business Development Corporation Hudson, NY | $1,111,610 | $813,133 |
Orange County Rural Development Walden, NY | $481,908 | $628,274 |
Community Capital Of Vermont Inc Barre, VT | $4,295,904 | $363,623 |
Central Massachusetts Center For Business And Enterprise Inc Whitinsville, MA | $1,308,572 | $506,528 |