2020-11-09T07:42:57-06:00 2019-12-31 203985546 JOHNSON O'CONNOR FERON & CARUCCI LLP 101 EDGEWATER DRIVE SUITE 210 WAKEFIELD MA 01880 990 2019-01-01 824508477 CENTER ON RURAL INNOVATION INC CENT 8024364100 PO BOX 392 HARTLAND VT 05048 JEFF FOURNIER DIR. OF FINANCE & SUPPORT OPER. 8024364100 2020-11-02 1 GISO JOSEPH P00030126 7819143400 2020-10-22 96.230.50.122 2020-11-02 10:01:07 ES P 9EFD6D159D202A0741FC2E70A744A84443C946AA F9D5E147244E3FD2A9A8C915F2AA4B6062854F89 2019 2021-01-29 14:40:06Z JEFF FOURNIER PO BOX 392 HARTLAND VT 05048 1825858 0 X HTTPS://RURALINNOVATION.US X 2018 VT THE CENTER ON RURAL INNOVATION (CORI) USES PROGRESSIVE PUBLIC, PRIVATE, AND PHILANTHROPIC PARTNERSHIPS AND STRATEGIES TO ACHIEVE SUSTAINABLE ECONOMIC SUCCESS IN RURAL AMERICA. OUR ACTIVITIES ARE DESIGNED TO ATTRACT PARALLEL AND FOLLOW-ON INVESTMENT, CREATING MOMENTUM FOR FULL ECONOMIC RENEWAL. OUR GOAL IS TO DEVELOP A REPLICABLE AND SCALABLE PARADIGM FOR ECONOMIC DEVELOPMENT ACROSS RURAL AMERICA. 8 7 2 7 0 0 518815 1825189 0 0 110 669 0 0 518925 1825858 0 125000 0 0 97146 223910 0 0 39926 109380 749984 206526 1098894 312399 726964 312399 1080336 0 40973 312399 1039363 X THE CENTER ON RURAL INNOVATION (CORI) USES PROGRESSIVE PUBLIC, PRIVATE, AND PHILANTHROPIC PARTNERSHIPS AND STRATEGIES TO ACHIEVE SUSTAINABLE ECONOMIC SUCCESS IN RURAL AMERICA. OUR ACTIVITIES ARE DESIGNED TO ATTRACT PARALLEL AND FOLLOW-ON INVESTMENT, CREATING MOMENTUM FOR FULL ECONOMIC RENEWAL. OUR GOAL IS TO DEVELOP A REPLICABLE AND SCALABLE PARADIGM FOR ECONOMIC DEVELOPMENT ACROSS RURAL AMERICA. 0 0 308920 125000 DATA AND MAPPING: RURAL OPPORTUNITY MAPPINGTHE CENTER IS IN MIDST OF CREATING AN OPEN-SOURCE, WEB-BASED GEOSPATIAL MAPPING PLATFORM TO CATALYZE MORE IMPACTFUL PHILANTHROPY, POLICY, AND INVESTMENT IN RURAL AMERICA. THE CENTER INTENDS FOR THIS RURAL OPPORTUNITY MAP TO BECOME A FOUNDATIONAL RESOURCE FOR NONPROFITS, POLICYMAKERS, INVESTORS, ACADEMICS, AND JOURNALISTS, ENABLING THEM TO BETTER UNDERSTAND THE CHALLENGES AND OPPORTUNITIES ACROSS RURAL AMERICA, DEVISE BETTER STRATEGIES FOR PROGRAMMING AND ENGAGEMENT, ANDMAKE MORE EFFICIENT USE OF RESOURCES. 128000 SPRINGFIELD WAS ONCE THE CENTER OF VERMONT'S INNOVATION ECONOMY. TODAY, LIKE MANY RURAL PLACES, IT HAS STRUGGLED TO REINVENT ITSELF. SPRINGFIELD REGIONAL DEVELOPMENT CORPORATION (SRDC) AND THE CENTER ON RURAL INNOVATION (CORI) HAVE PARTNERED WITH OTHER LOCAL, STATE, AND NATIONAL ORGANIZATIONS TO CATALYZE SPRINGFIELD'S TRANSFORMATION TO A DIGITAL ECONOMY WITH THE LAUNCH OF THE BLACK RIVER INNOVATION CAMPUS (BRIC). LEVERAGING THE COMMUNITY'S FASTEST INTERNET SPEEDS IN THE COUNTRY (10 GIGABIT), BRIC'S AIM IS TO EDUCATE AND TRAIN SPRINGFIELDERS IN DIGITAL SKILLS, EMPLOY THEM IN DIGITAL ECONOMY JOBS, AND EMPOWER THEM TO LAUNCH STARTUPS THAT WILL CONTINUE TO DRIVE SPRINGFIELD'S DIGITAL ECONOMY. CORI HAS FACILITATED GRANT APPLICATIONS TO BRIC IN SUPPORT OF PROGRAMS. 305003 THE RURAL INNOVATION INITIATIVE (RII) DELIVERS TECHNICAL ASSISTANCE TO A BROAD RANGE OF COMMUNITIES AS THEY DEVELOP INNOVATION HUB STRATEGIES. THESE STRATEGIES SUPPORT AN ECONOMIC DEVELOPMENT MODEL THAT WORKS TO EDUCATE AND TRAIN LOCAL RESIDENTS IN DIGITAL SKILLS, EMPLOY THEM IN NEW ECONOMY JOBS, AND EMPOWER THEM TO LAUNCH THE STARTUPS THAT WILL DRIVE THEIR DIGITAL ECONOMY. PARTICIPATING COMMUNITIES JOIN THE RURAL INNOVATION NETWORK, CONNECTING WITH OTHER RURAL COMMUNITIES, AND RECEIVING ACCESS TO ADDITIONAL SUPPORT TO DEVELOP THEIR COMMUNITY EFFORTS. MUCH OF THIS SUPPORT IS FUNDED THROUGH A COOPERATIVE AGREEMENT BETWEEN THE ECONOMIC DEVELOPMENT AGENCY & RURAL INNOVATION STRATEGIES, INC., OUR SISTER ORGANIZATION. FUNDS FROM CORI PROVIDE ADDITIONAL SUPPORT TO COMMUNITIES OUTSIDE OF THE EDA SUPPORTED EFFORTS. IN 2019 THIS FOCUSED ON A MAJOR CONVENING OF THE COHORT OF SELECTED COMMUNITIES, IN ADDITION TO VARIOUS THOUGHT LEADERSHIP, COMMUNICATION EFFORTS, ADMINISTRATIVE SUPPORT. 104824 CIF MANAGEMENT IS A WHOLLY-OWNED SUBSIDIARY OF CORI WHICH PROVIDES MANAGEMENT OF THE CORI INNOVATION FUND. THE FUND RAISES CAPITAL TO INVEST IN GROWTH BUSINESSES LOCATED IN QUALIFIED OPPORTUNITY ZONES IN THE UNITED STATES TO ENHANCE ECONOMIC GROWTH AND JOB CREATION IN SMALL COMMUNITIES. THE FUND FINDS ATTRACTIVE TECHNOLOGY-ENABLED OPERATING BUSINESSES IN RURAL GEOGRAPHIES, WHICH ARE UNDER-SERVED BY TRADITIONAL VENTURE CAPITAL INSTITUTIONS. WE IDENTIFY, FUND, AND SUPPORT THE BEST TECH ENTREPRENEURS AMERICAN SMALL TOWNS HAVE TO OFFER. CORI SUPPORT WAS USED TO DESIGN, STRUCTURE, AND LAUNCH THE CORI INNOVATION FUND. 104824 846747 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 1 0 1 1 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VT X X JEFF FOURNIER DIR OF FINANCE & SUPPORT OPER 8024364100 PO BOX 392 HARTLAND VT 05048 MATT DUNNE DIRECTOR, EXECUTIVE DIRECT 40.00 X X 84047 0 7269 VINCENT FUSCA FORMER OPERATIONS DIRECTOR 40.00 X 41140 0 1646 JEFF NAVIN DIRECTOR, CHAIR & PRESIDEN 5.00 X X 0 0 0 MARK BELIVEAU DIRECTOR 5.00 X 0 0 0 JAY BOREN DIRECTOR, TREASURER 5.00 X X 0 0 0 ADAM QUINN DIRECTOR 5.00 X 0 0 0 LEE ROM DIRECTOR 5.00 X 0 0 0 STEPHANIE CORNELL DIRECTOR 5.00 X 0 0 0 FIONA SPRUILL DIRECTOR 5.00 X 0 0 0 125187 0 8915 0 0 0 0 RURAL INNOVATION STRATEGIES INC PO BOX 202 HARTLAND VT 05048 CONSULTING - PROJECT WORK 787564 1 1825189 1825189 669 669 1825858 0 0 669 X 125000 125000 125187 95461 29726 84776 58846 25930 2700 2354 346 4045 4045 7202 5247 1955 43658 35709 7949 12769 12769 662377 507237 155140 11650 4000 7650 2981 2095 886 10772 10676 96 2805 2805 MISC. CONSULTANTS 2972 122 2850 1098894 846747 212221 39926 312394 773164 5 5 42325 264842 312399 1080336 40973 0 40973 X 218909 682787 93490 356576 312399 1039363 312399 1080336 726964 0 X 0 0 0 X 518815 1825188 2344003 110 669 779 518925 1825857 2344782 1763444 581338 2344782 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 1 BLACK RIVER INNOVATION CAMPUS 60 PARK STREET SPRINGFIELD VT 05156 501C3 50000 FMV GENERAL SUPPORT FOR THE BLACK RIVER INNOVATION CAMPUS (BRIC) SPRINGFIELD VT SCHOOL DISTRICT 60 PARK STREET SPRINGFIELD VT 05156 VT PUBLIC SCHOOL DIS 75000 FMV TO SUPPORT COMPUTER SCIENCE EDUCATION PROGRAMMING: SALARY & BENEFITS FOR A FT COMPUTER SCIENCE TEACHER PLUS SUPPLIES AND MATERIALS. SPRINGFIELD SCHOOL DISTRICT 2 0 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. FOR PRE-GRANT DUE DILIGENCE, THE ORGANIZATION HAS A POLICY SPECIFYING THE 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 CENTER ON RURAL INNOVATION, INC. & RURAL INNOVATION STRATEGIES 787564 RURAL INNOVATION STRATEGIES (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. 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, AND THEN ANNUALLY THEREAFTER, 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 15 THE CENTER'S BOARD WILL REVIEW THE AMOUNTS ALLOCATED FOR COMPENSATION AND CONFIRM THAT IT ALIGNS WITH COMPENSATION PAID TO COMPARABLE OFFICERS AND STAFF OF STARTUP NONPROFITS IN ORDER TO CONFIRM THAT THE CENTER PAYS NO MORE THAN MARKET RATE FOR SUCH COMPENSATION. TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH ITS SOCIAL WELFARE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED BY THE BOARD. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: 1. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. 2. WHETHER TRANSACTIONS AND ARRANGEMENTS CONFORM TO THE CORPORATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER THE CORPORATION'S SOCIAL WELFARE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN "EXCESS BENEFIT" TRANSACTION. 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. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE FINANCIAL STATEMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 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. IN ADDITION, FORMS 990 AND 1023 AS WELL AS 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): PROGRAM SERVICE EXPENSES 507,237. MANAGEMENT AND GENERAL EXPENSES 155,140. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 662,377. RURAL INNOVATION STRATEGIES INC PO BOX 202 HARTLAND VT 05048 823594704 CONSULTING VT N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RURAL INNOVATION STRATEGIES INC (RISI) M 787564 BOOK