2023-10-25T08:27:31-05:00 2022-12-31 390758449 WIPFLI LLP 43 CONSTITUTION DRIVE SUITE 100 BEDFORD NH 03110 990 2022-01-01 824508477 CENTER ON RURAL INNOVATION INC CENT 8024364100 PO BOX 392 HARTLAND VT 05048 ROBIN KILFEATHER-MACKEY DIRECTOR OF FINANCE & OPS 8024364100 2023-10-24 1 ROBIN KILFEATHER-MACKEY 999009999 0 LANCE R TURGEON P00627708 6036273838 2023-10-20 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBIN KILFEATHER-MACKEY PO BOX 392 HARTLAND VT 05048 3508095 0 X HTTPS://RURALINNOVATION.US X 2018 VT ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF AN INCLUSIVE TECH ECONOMY. 9 8 20 10 0 0 1808408 3225473 69602 276604 2927 6018 23236 0 1904173 3508095 50000 15873 0 0 686068 1011236 0 0 194026 2289459 3724044 3025527 4751153 -1121354 -1243058 3965475 3616357 1612575 2506515 2352900 1109842 X ADVANCING ECONOMIC PROSPERITY IN RURAL AMERICA THROUGH THE CREATION OF INCLUSIVE TECH ECONOMY ECOSYSTEMS THAT SUPPORT SCALABLE ENTREPRENEURSHIP AND TECH JOB CREATION. 0 0 1033152 RESEARCH AND MAPPING, DATA, AND ANALYTICS: WE RECOGNIZE THE CRITICAL IMPORTANCE OF MAKING DATA AND RESEARCH BOTH AVAILABLE AND ACCESSIBLE TO COMMUNITY LEADERS, AMONG OTHERS. WITH PHILANTHROPIC SUPPORT, WE BEGAN TO BUILD DATA-DRIVEN MAPS, TOOLS, AND OTHER RESOURCES THAT HIGHLIGHT RURAL AMERICA'S OPPORTUNITIES AND CHALLENGES. IN DEVELOPING THESE RESOURCES, WE HOPE NOT JUST TO MAKE DATA ABOUT RURAL COMMUNITIES ACCESSIBLE, BUT ALSO TO BROADEN THE CONVERSATION AND CHANGE THE NARRATIVE ABOUT WHAT'S POSSIBLE IN RURAL AMERICA. OUR TEAM OF SEASONED ECONOMISTS, RESEARCHERS, ANALYSTS AND SOFTWARE ENGINEERS WORKS WITH RURAL DATA TO CREATE A LARGER PICTURE AND UPDATED VIEW OF WHAT IS DRIVING CHANGE IN SMALL TOWNS AND COMMUNITIES ACROSS THE COUNTRY. 1000549 10000 37268 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. DURING 2022, WE PROVIDED CRITICAL SUPPORT TO ENABLE COMMUNITIES TO SECURE FUNDING, DEVELOP INFRASTRUCTURE AND IMPLEMENT THE PROGRAMS NECESSARY TO UNLOCK THE POTENTIAL OF RURAL AMERICA. 831938 5872 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 ACROSS THE COUNTRY. 829250 239336 OTHER PROGRAMS: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 $29 MILLION IN FEDERAL FUNDING AND MATCHING DOLLARS THROUGH THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION'S HIGHLY COMPETITIVE BUILD TO SCALE VENTURE CHALLENGE GRANT.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. 829250 239336 3694889 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 0 1 13 0 1 20 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 1 0 VT X X ROBIN KILFEATHER-MACKEY DIRECTOR O 8024364100 PO BOX 392 HARTLAND VT 05048 X MATT DUNNE DIRECTOR, EXECUTIVE DIRECT 20.00 X X 0 0 0 JEFF NAVIN DIRECTOR/CHAIR/PRESIDENT 3.00 X X 0 0 0 MARK BELIVEAU DIRECTOR (THROUGH MARCH 14) 2.00 X 0 0 0 ADAM QUINN DIRECTOR 2.00 X 0 0 0 LEE ROM DIRECTOR/TREASURER 2.00 X X 0 0 0 STEPHANIE CORNELL DIRECTOR/SECRETARY 2.00 X X 0 0 0 CHARLES PHILLIPS DIRECTOR 2.00 X 0 0 0 LISA GROENEVELD DIRECTOR 2.00 X 0 0 0 DEBBIE ATUK DIRECTOR 2.00 X 0 0 0 TOM SPERRY DIRECTOR 2.00 X 0 0 0 MARK REMBERT DIRECTOR OF RESEARCH AND K 40.00 X 103705 0 14952 KATE DUFFY DEVELOPMENT DIRECTOR 40.00 X 111297 0 15802 BREYANA RAY DIRECTOR OF RURAL INNOVATION NETWORK 40.00 X 108591 0 5624 323593 0 36378 3 0 0 0 RURAL INNOVATION STRATEGIES INC PO BOX 202 HARTLAND VT 05048 CONSULTING - PROJECT WORK 3021574 SOUTH END FILMS 4110 PINEMIST LANE KENNESAW GA 30144 VIDEO DEVELOPMENT OF RURAL COMMUNITY 101910 2 4341 3221132 3225473 CONTRACT REVENUE 541900 215872 215872 MEMBER FEE 541900 52500 52500 CORI BRANDED MERCHANDI 900099 4823 4823 SPEAKER FEE 541900 3409 3409 276604 6018 6018 3508095 276604 0 6018 X 15873 15873 822535 753657 20460 48418 30383 27838 756 1789 94030 86157 2338 5535 64288 58905 1599 3784 5807 5807 71050 71050 3405042 2597054 675808 132180 1598 775 823 11611 907 9911 793 64096 855 63167 74 4455 4455 49121 48263 605 253 88139 85232 2757 150 3574 3574 OTHER 13841 9831 4010 EMPLOYEE TRAINING 5314 5087 227 TAXES 396 396 4751153 3694889 862238 194026 681071 553343 1161000 196026 29187 35626 558957 102975 5 5 1535255 2728382 3965475 3616357 49799 34668 41277 0 1521499 2471847 1612575 2506515 X 2340939 774935 11961 334907 2352900 1109842 3965475 3616357 -1243058 0 X X 0 1 X 1 0 X 518815 1825188 3738116 1808408 3225473 11116000 518815 1825188 3738116 1808408 3225473 11116000 6456102 4659898 110 669 618 2927 6018 10342 1072 23236 24308 11150650 388604 X SCHEDULE A, PAGE 2, SECTION B, LINE 13 THE ORGANIZATION'S EFFECTIVE DATE OF EXEMPTION WAS FEBRUARY 7, 2018, THE INITIAL SHORT YEAR OF THE ORGANIZATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 RESTRICTED CASH 2471847 DUE FROM RELATED PARTIES 107328 CONTRIBUTIONS RECEIVABLE, NET OF CURRENT PORTION 149207 2728382 REFUNDABLE ADVANCES 2471847 2471847 X 3508095 0 3508095 0 3508095 4751153 0 4751153 0 4751153 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE TAX BENEFIT OF AN UNCERTAIN TAX POSITION ONLY IF MANAGEMENT DETERMINES THAT IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERIT OF THE POSITION. MANAGEMENT HAS DETERMINED THAT THROUGH DECEMBER 31, 2022, THE ORGANIZATION DID NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 1 GLOBAL ENTREPRENEUR IN RESIDENCE COALITION INC 102 HARDING ROAD RED BANK NJ 07701 501C3 10000 0 FMV LAUNCH AND SCALE GLOBAL ENTREPRENEUR IN RESIDENCE PROGRAMS ACROSS CORI'S SERVED REGIONS PART I, LINE 2: THE ORGANIZATION MONITORS EACH GRANT RECIPIENT AND HAS DEVELOPED BEST PRACTICES THAT INCORPORATE POLICIES, SYSTEMS, AND PROCEDURES FOR PRE-GRANT INQUIRY AND GRANT MONITORING REPORTING SIMILAR TO THE EXPENDITURE RESPONSIBILITY REQUIREMENTS FOR PRIVATE FOUNDATIONS. PROCEDURES VARYING DEPENDING ON THE PURPOSE, SIZE OF GRANT, AND TYPE OF GRANTEE, BUT GOOD DOCUMENTATION IS REQUIRED IN ANY CASE. TYPES OF GRANTS AND AMOUNTS GIVEN, TYPES OF ORGANIZATIONS THAT QUALIFY, PURPOSES AND ACTIVITIES THAT QUALIFY, TIMELINES, THE APPLICATION AND APPROVAL PROCESS, RESPONSIBLE AND AUTHORIZED PERSONNEL, AND FILE MANAGEMENT AND RETENTION. ONCE A GRANT IS APPROVED, THE ORGANIZATION EXECUTES A GRANT AGREEMENT THAT DESCRIBES THE TERMS OF THE GRANT AND WHAT IS EXPECTED OF THE GRANTEE. IT MAY INCLUDE: O GRANTEE'S RESPONSIBILITIES O GRANTEE'S REPORTING REQUIREMENTS O GRANTOR'S RESPONSIBILITIES O AMOUNT OF THE GRANT AND PAYMENT SCHEDULE, INCLUDING PURPOSE OF GRANT AND DURATION O DESCRIPTION OF THE PROJECT THAT IS BEING FUNDED (SOMETIMES REFERENCES GRANT APPLICATION) O SPECIFICATIONS OF PROHIBITED USES OF THE GRANT FUNDS MATT DUNNE DIRECTOR OF CORI AND RISI 2530000 RURAL INNOVATION STRATEGIES, INC. (RISI) PERFORMS CONTRACTUAL WORK FOR THE CENTER ON RURAL INNOVATION, INC. (CORI) AND ADDITIONAL CONSULTING WORK AS REQUIRED ON VARIOUS EXEMPT PURPOSE PROJECTS. MATT DUNNE IS THE EXECUTIVE DIRECTOR AND A BOARD MEMBER FOR CORI AND A BOARD DIRECTOR OF RISI. AMOUNT REPORTED IS CASH PAID OF WHICH $102,100 REMAINS OUTSTANDING AS A PREPAID EXPENSE. TOTAL NET CONTRACTED EXPENSE ON THE ACCRUAL BASIS WAS $2,978,655 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS SUBMITTED ELECTRONICALLY TO MEMBERS OF THE ORGANIZATION'S GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH ONE WEEK TO REVIEW THE PREPARED FORM 990 AND PROVIDE COMMENTS. ANY COMMENTS ARE THEN PROVIDED TO THE OPERATIONS DIRECTOR WHO GROUPS AND SUMMARIZES COMMENTS AND IS RESPONSIBLE FOR FILING THE RETURN. ANY ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CENTER'S CONFLICT OF INTEREST POLICY WAS ADOPTED ON MARCH 20, 2018. THE PURPOSE OF THIS CONFLICT OF INTEREST POLICY IS TO PROTECT THE INTERESTS OF CENTER ON RURAL INNOVATION,INC., WHEN IT CONTEMPLATES ENTERING INTO A TRANSACTION OR ARRANGEMENT WITH A COVERED PERSON. THIS CONFLICT OF INTEREST POLICY IS INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE STATE AND FEDERAL LAWS GOVERNING CONFLICT OF INTEREST APPLICABLE TO NONPROFIT ORGANIZATIONS. DUTY TO DISCLOSE. IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT UNDER CONSIDERATION BY THE CORPORATION, A COVERED PERSON MUST DISCLOSE THE EXISTENCE OF SUCH COVERED PERSON'S OR ANY OTHER COVERED PERSON'S RELATED INTEREST TO THE DESIGNATED CONFLICT OF INTEREST OFFICER. EACH DIRECTOR, MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD OF DIRECTORS, PRINCIPAL OFFICER, MEMBER, EMPLOYEE HAVING RESPONSIBILITIES SIMILAR TO A DIRECTOR OR PRINCIPAL OFFICER, SUBSTANTIAL DONOR TO THE CORPORATION, OR ANY PERSON IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE CORPORATION SHALL, UPON FIRST ACCEDING TO SUCH OFFICE OR POSITION, SIGN AN ACKNOWLEDGEMENT FORM WHICH AFFIRMS THAT SUCH PERSON: 1. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, 2. HAS READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY, 3. HAS AGREED TO COMPLY WITH THE CONFLICT OF INTEREST POLICY, AND 4. UNDERSTANDS THE CORPORATION IS A SOCIAL WELFARE ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION THE CORPORATION MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15B THE CENTER HAS A MARKET-BASED COMPENSATION PHILOSOPHY THAT UTILIZES SALARY DATA FROM INDEPENDENT SOURCES. THE INFORMATION IS USED TO IDENTIFY MID-POINT SALARY FIGURES BASED ON THE EMPLOYEE'S POSITION AND ADJUSTED TO FIT THE ORGANIZATION'S SIZE WITH THE GOAL OF ALIGNING EMPLOYEES AS CLOSE TO MID-POINT RANGE AS POSSIBLE. THE EXECUTIVE DIRECTOR APPROVES THE COMPENSATION AND THE BOARD IS KEPT APPRISED OF THE METHODOLOGY AND THE OVERALL IMPACT OF ANY COMPENSATION ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANZIATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON REQUEST; GUIDESTAR.ORG; AND OTHER SIMILAR TYPES OF WEBSITES. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION. FORM 990, PART IX, LINE 11G RURAL INNOVATION STRATEGIES, INC. (RISI) CONTRACT LABOR: PROGRAM SERVICE EXPENSES 2,309,722. MANAGEMENT AND GENERAL EXPENSES 591,382. FUNDRAISING EXPENSES 120,470. TOTAL EXPENSES 3,021,574. OTHER OUTSIDE CONTRACT LABOR: PROGRAM SERVICE EXPENSES 287,332. MANAGEMENT AND GENERAL EXPENSES 84,426. FUNDRAISING EXPENSES 11,710. TOTAL EXPENSES 383,468. PART XII LINE 2C WE HAVE NOT CHANGED THIS PROCESS FROM THE PRIOR YEAR. CORI INNOVATION FUND LLC 2 QUECHEE ROAD HARTLAND VT 05048 843845584 OPPORTUNITY ZONE INVESTMENT FUND VT CIF MANAGEMENT INC 44 1 1 0.00100 CIF MANAGEMENT INC 2 QUECHEE ROAD HARTLAND VT 05048 843831168 INVESTMENT FUND MANAGEMENT VT CENTER ON RURAL INNOVATION INC C 42564 206991 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0