Civic Intelligence

Rocky Mountain Microfinance Institute

990 • Fiscal year 2023 • EIN 26-3218152

Oct 01, 2022 to Sep 30, 2023 • Filed on Nov 11, 2024

Organization Profilewww.RMMFI.org
1209 W 10th AveDenver, CO 80204

(720) 941-5037

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.20x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

15th percentile

-22%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

65th percentile

$94,125

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

11th percentile

-13%

Faster asset growth than 11% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

17th percentile

-20%

Faster revenue growth than 17% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$3,833,899

Down $566,099 (-13%) from 2022

Net Assets

Down

$3,273,976

Down $618,542 (-16%) from 2022

Liabilities

Up

$559,923

Up $52,443 (+10%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin15th percentile

Revenue

Down

$2,825,207

Down $714,835 (-20%) from 2022

Expenses

Up

$3,443,749

Up $1,027,810 (+43%) from 2022

Net Income

Down

-$618,542

Down $1,742,645 (-155%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $190,524Liabilities 2010: $9,002Net Assets 2010: $181,5222010Assets 2011: $223,804Liabilities 2011: $9,988Net Assets 2011: $213,8162011Assets 2012: $445,521Liabilities 2012: $77,072Net Assets 2012: $368,4492012Assets 2013: $466,560Liabilities 2013: $86,301Net Assets 2013: $380,2592013Assets 2014: $444,000Liabilities 2014: $72,387Net Assets 2014: $371,6132014Assets 2015: $523,589Liabilities 2015: $63,815Net Assets 2015: $459,7742015Assets 2017: $733,913Liabilities 2017: $409,430Net Assets 2017: $324,4832017Assets 2018: $666,160Liabilities 2018: $321,324Net Assets 2018: $344,8362018Assets 2019: $1,196,119Liabilities 2019: $455,690Net Assets 2019: $740,4292019Assets 2020: $2,467,203Liabilities 2020: $724,837Net Assets 2020: $1,742,3662020Assets 2021: $3,248,488Liabilities 2021: $480,078Net Assets 2021: $2,768,4102021Assets 2022: $4,399,998Liabilities 2022: $507,480Net Assets 2022: $3,892,5182022Assets 2023: $3,833,899Liabilities 2023: $559,923Net Assets 2023: $3,273,9762023Assets 2024: $2,754,290Liabilities 2024: $700,788Net Assets 2024: $2,053,5022024

Highlighted filing

2023

Assets$3,833,899
Liabilities$559,923
Net Assets$3,273,976
Open 2023 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $149,3272010Expenses 2011: $268,3242011Expenses 2012: $313,7222012Revenue 2013: $415,395Expenses 2013: $403,585Net Income 2013: $11,8102013Revenue 2014: $500,205Expenses 2014: $508,851Net Income 2014: -$8,6462014Revenue 2015: $656,176Expenses 2015: $568,015Net Income 2015: $88,1612015Revenue 2017: $729,781Expenses 2017: $709,371Net Income 2017: $20,4102017Revenue 2018: $845,125Expenses 2018: $824,772Net Income 2018: $20,3532018Revenue 2019: $1,371,907Expenses 2019: $976,314Net Income 2019: $395,5932019Revenue 2020: $2,507,181Expenses 2020: $1,505,244Net Income 2020: $1,001,9372020Revenue 2021: $2,686,015Expenses 2021: $1,659,971Net Income 2021: $1,026,0442021Revenue 2022: $3,540,042Expenses 2022: $2,415,939Net Income 2022: $1,124,1032022Revenue 2023: $2,825,207Expenses 2023: $3,443,749Net Income 2023: -$618,5422023Revenue 2024: $3,033,774Expenses 2024: $4,254,248Net Income 2024: -$1,220,4742024

Highlighted filing

2023

Revenue$2,825,207
Expenses$3,443,749
Net Income-$618,542
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Nov 11, 2024
Return Version
2022v5.0
Gross Receipts
$2,825,207
Mission and Program Overview

Mission

RMMFI is a non-profit organization that provides learning, lending, and coaching to grow Community Entrepreneurs who build businesses to advance along the pathway to self-sufficiency and self-worth.

rocky

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,637,751$2,081,181▼ $556,570
Savings and Temporary Cash Investments$992,564$869,594▼ $122,970
Pledges and Grants Receivable$544,720$544,573▼ $147
Other Notes and Loans Receivable, Net$204,896$296,085▲ $91,189
Prepaid Expenses and Deferred Charges$11,637--
Accounts Receivable$6,200$9,700▲ $3,500
Land, Buildings, and Equipment, Net$2,230$0▼ $2,230
Total Assets$4,399,998$3,833,899▼ $566,099
Other Assets Total$0$32,766▲ $32,766
Liabilities
Unsecured Notes Loans Payable$450,000$350,000▼ $100,000
Accounts Payable and Accrued Expenses$57,480$177,157▲ $119,677
Other Liabilities$0$32,766▲ $32,766
Total Liabilities$507,480$559,923▲ $52,443
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,753,780$1,644,328▼ $109,452
Net Assets With Donor Restrictions$2,138,738$1,629,648▼ $509,090
Total Net Assets Fund Balance$3,892,518$3,273,976▼ $618,542
Total Liabilities and Net Assets / Fund Balance$4,399,998$3,833,899▼ $566,099

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$160,442$160,442
Equipment$0$27,574$27,574
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jessica SveenCEOFT$94,125$94,125

Board Members and Trustees

NameTitle
Abbey O' NealChair
Ravi DuggirilaChair Elect
Chris CobleExec Committee Member at L
Edgar AguilarMember
Justin BallMember
Katie GenovaMember
Kelli DanielsMember
Miles WilliamsMember
Rebecca DarlingMember
Sandra OrtegaMember
Jay WhisentonSecretry
Deanna MettlerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,792,651
Program Service Revenue
$10,688
Investment Income
$21,868
Other Revenue
$0
All Other Contributions
$1,299,065
Change in Net Assets
$-618,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,825,207
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,825,207
Total Revenue per Form 990
$2,825,207
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,590,359
Other Expenses$562,890
Grants and Similar Amounts Paid$290,500
Total Fundraising Expense$264,997
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,013,850$290,456$191,928$2,496,234
Grants to Domestic Orgs$290,500--$290,500
Current Officers, Directors, Trustees, and Key Employees$75,300$11,295$7,530$94,125
Information Technology$54,186$7,826$5,173$67,185
Office Expenses$40,762$5,888$3,892$50,542
Fees for Services Accounting$27,238$3,934$2,601$33,773
Other Expenses$23,298$3,365$2,224$28,887
Occupancy$15,190$2,194$1,450$18,834
All Other Expenses$14,378$2,077$1,373$17,828
Insurance$12,245$1,763$1,169$15,177
Depreciation Depletion$1,783$447-$2,230
Total Functional Expenses$2,777,407$401,345$264,997$3,443,749

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,443,749
Total Expenses per Audited Statements$3,443,749
Total Expenses per Form 990$3,443,749
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilities$32,766
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“Not applicable to the organization. No sub commitees operate on behalf of the organzaiton.”

Form 990, Part VI, Section B, line 11B

“The form 990 was prepared by an independent cpa firm. The executive director reviewed the 990 in detail, and then provided the board with a copy for their review before the return was filed with the irs.”

Form 990, Part VI, Section B, line 12C

“Each year board members review and sign a conflict of interest statement disclosing any potential conflicts. The board of directors, as well as the executive director, are responsible for overseeing the policy. If aconflict of note should arise, it would be addressed in the appropriate forum (board meeting, management meeting, or team meeting) by the independent parties present, and a resolution would be defined for how to handle the conflict.”

Form 990, Part VI, Section B, line 15

“In determining compensation and benefits for the executive director and other directorial positions, the independent members of the board reviewed comparability data of other similar non-profit organizations. All compensation related decisions and deliberations are documented in the board minutes. In determining compensation and benefits for the executive director and other directorial positions, the independent members of the board reviewed comparability data of other similar non-profit organizations. All compensation related decisions and deliberations are documented in the board minutes.”

Form 990, Part VI, Section C, line 18

“A copy of the 990 tax return is available for public review upon request of the organization.”

Form 990, Part VI, Section C, line 19

“The organization makes documents related to governance, conflict of interest and financial statements available upon request of the organization.”

Filing and Contact Details

Filer

Filer Name
Rocky Mountain Microfinance
EIN
26-3218152
Phone
7209415037
Address
1209 W 10th Ave, Denver, CO 80204

Signing Officer

Name
Jessica Sveen
Title
CEO
Phone
7209415037
Signed
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jessica Sveen
Formed
2008
Legal Domicile
Co
Voting Board Members
12
Independent Board Members
12
Employees
36
Volunteers
274

Preparer

Firm
WhippleWood CPAs PC
Address
11852 Shaffer Dr Bldg B, Littleton, CO 80127
Preparer
Mitchell A Clark CPA
Phone
3039897600
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Organization follows the Accounting for Uncertainty in Income Taxes accounting standard, which requires the Organization to determine whether a tax position (and related tax benefit) is more likely than not to be sustained upon examination by the applicable taxing authority, based solely on the technical merits of the position. The Organization believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax postions that are significant to the financial statements, or which may effect RMMFI's tax exempt status.”

Raw XML AppendixShowing 400 of 462 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/InsuranceGrp/TotalAmt015177
IRS990/InvestmentIncomeGrp/ExclusionAmt021868
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt021868
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0188016
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02230
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt0188016
IRS990/LegalDomicileStateCd0CO
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0RMMFI CREATES THE SPACE FOR COMMUNITIES AND PEOPLE OF ALL BACKGROUNDS TO REALIZE THEIR UNIQUE POTENTIAL THROUGH THE POWER OF ENTREPRENEURSHIP. RMMFI INVESTS IN ENTREPRENEURS' PERSONAL AND BUSINESS DEVELOPMENT THROUGH A PROVEN MIX OF CLASSROOM, COACHING
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt03892518
IRS990/NetAssetsOrFundBalancesEOYAmt03273976
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01753780
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01644328
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt01450
IRS990/OccupancyGrp/ManagementAndGeneralAmt02194
IRS990/OccupancyGrp/ProgramServicesAmt015190
IRS990/OccupancyGrp/TotalAmt018834
IRS990/OfficeExpensesGrp/FundraisingAmt03892
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05888
IRS990/OfficeExpensesGrp/ProgramServicesAmt040762
IRS990/OfficeExpensesGrp/TotalAmt050542
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt032766
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Direct Program Payments
IRS990/OtherExpensesGrp/Desc1Staff Development
IRS990/OtherExpensesGrp/Desc2Capacity Building
IRS990/OtherExpensesGrp/Desc3Development Fees
IRS990/OtherExpensesGrp/FundraisingAmt039350
IRS990/OtherExpensesGrp/FundraisingAmt14832
IRS990/OtherExpensesGrp/FundraisingAmt23475
IRS990/OtherExpensesGrp/FundraisingAmt32224
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt059532
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17310
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25258
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt33365
IRS990/OtherExpensesGrp/ProgramServicesAmt0121663
IRS990/OtherExpensesGrp/ProgramServicesAmt150613
IRS990/OtherExpensesGrp/ProgramServicesAmt236401
IRS990/OtherExpensesGrp/ProgramServicesAmt323298
IRS990/OtherExpensesGrp/TotalAmt0220545
IRS990/OtherExpensesGrp/TotalAmt162755
IRS990/OtherExpensesGrp/TotalAmt245134
IRS990/OtherExpensesGrp/TotalAmt328887
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt032766
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0191928
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0290456
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02013850
IRS990/OtherSalariesAndWagesGrp/TotalAmt02496234
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0204896
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0296085
IRS990/PartialLiquidationInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0544720
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0544573
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt011637
IRS990/PrincipalOfficerNm0Jessica Sveen
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/BusinessCd1611430
IRS990/ProgramServiceRevenueGrp/Desc0Business Class Income
IRS990/ProgramServiceRevenueGrp/Desc1Loan Collection Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07262
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13426
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07262
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13426
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt033271
IRS990/PYContributionsGrantsAmt03523133
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt018000
IRS990/PYInvestmentIncomeAmt03593
IRS990/PYOtherExpensesAmt0410535
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt013316
IRS990/PYRevenuesLessExpensesAmt01124103
IRS990/PYSalariesCompEmpBnftPaidAmt01954133
IRS990/PYTotalExpensesAmt02415939
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03540042
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-618542
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0992564
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0869594
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02719151
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03523133
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02312226
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02318374
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01117359
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011990243
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt021868
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt03593
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01570
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02155
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0928
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt030114
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99750
IRS990ScheduleA/PublicSupportPY170Pct00.99900
IRS990ScheduleA/PublicSupportTotal170Amt011990243
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02719151
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03523133
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02312226
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02318374
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01117359
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt011990243
IRS990ScheduleA/TotalSupportAmt012020357
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027574
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027574
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03443749
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0160442
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0160442
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt032766
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Lease Liabilities
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02825207
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization follows the Accounting for Uncertainty in Income Taxes accounting standard, which requires the Organization to determine whether a tax position (and related tax benefit) is more likely than not to be sustained upon examination by the applicable taxing authority, based solely on the technical merits of the position. The Organization believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax postions that are significant to the financial statements, or which may effect RMMFI's tax exempt status.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt03443749
IRS990ScheduleD/TotalLiabilityAmt032766
IRS990ScheduleD/TotalRevenuePerForm990Amt02825207
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02825207
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03443749
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Entrepreneur grants are structured as working capital grants that entrepreneurs may use for startup costs, equipment, supplies, or other business expenses. The main way RMMFI verifies it's for business purposes is by funding to the business bank account. Before entrepreneurs receive the grant, they provide a proposal of how they intend to use the funds, but since it's a working capital grant, there is no specific use of funds requirement.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule I, Part I Line 2
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Not applicable to the organization. No sub commitees operate on behalf of the organzaiton.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WAS PREPARED BY AN INDEPENDENT CPA FIRM. THE EXECUTIVE DIRECTOR REVIEWED THE 990 IN DETAIL, AND THEN PROVIDED THE BOARD WITH A COPY FOR THEIR REVIEW BEFORE THE RETURN WAS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH YEAR BOARD MEMBERS REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS. THE BOARD OF DIRECTORS, AS WELL AS THE EXECUTIVE DIRECTOR, ARE RESPONSIBLE FOR OVERSEEING THE POLICY. IF ACONFLICT OF NOTE SHOULD ARISE, IT WOULD BE ADDRESSED IN THE APPROPRIATE FORUM (BOARD MEETING, MANAGEMENT MEETING, OR TEAM MEETING) BY THE INDEPENDENT PARTIES PRESENT, AND A RESOLUTION WOULD BE DEFINED FOR HOW TO HANDLE THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN DETERMINING COMPENSATION AND BENEFITS FOR THE EXECUTIVE DIRECTOR AND OTHER DIRECTORIAL POSITIONS, THE INDEPENDENT MEMBERS OF THE BOARD REVIEWED COMPARABILITY DATA OF OTHER SIMILAR NON-PROFIT ORGANIZATIONS. ALL COMPENSATION RELATED DECISIONS AND DELIBERATIONS ARE DOCUMENTED IN THE BOARD MINUTES. IN DETERMINING COMPENSATION AND BENEFITS FOR THE EXECUTIVE DIRECTOR AND OTHER DIRECTORIAL POSITIONS, THE INDEPENDENT MEMBERS OF THE BOARD REVIEWED COMPARABILITY DATA OF OTHER SIMILAR NON-PROFIT ORGANIZATIONS. ALL COMPENSATION RELATED DECISIONS AND DELIBERATIONS ARE DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A copy of the 990 tax return is available for public review upon request of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization makes documents related to governance, conflict of interest and financial statements available upon request of the organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CO
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04399998
IRS990/TotalAssetsEOYAmt03833899
IRS990/TotalAssetsGrp/BOYAmt04399998
IRS990/TotalAssetsGrp/EOYAmt03833899
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02792651
IRS990/TotalEmployeeCnt036

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,833,899
Liabilities
$559,923
Net assets
$3,273,976
Revenue
$2,825,207
Expenses
$3,443,749
Net income
-$618,542
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.75$0.70$2.05$3.03$4.25$1.22
2023Detailed filing. Detailed filing data is available for this year.$3.83$0.56$3.27$2.83$3.44$0.62
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$0.51$3.89$3.54$2.42$1.12
2021Detailed filing. Detailed filing data is available for this year.$3.25$0.48$2.77$2.69$1.66$1.03
2020Detailed filing. Detailed filing data is available for this year.$2.47$0.72$1.74$2.51$1.51$1.00
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.46$0.74$1.37$0.98$0.40
2018Detailed filing. Detailed filing data is available for this year.$0.67$0.32$0.34$0.85$0.82$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.73$0.41$0.32$0.73$0.71$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.52$0.06$0.46$0.66$0.57$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.07$0.37$0.50$0.51$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.47$0.09$0.38$0.42$0.40$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.08$0.37$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.01$0.21$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.01$0.18$0.15