Center on Rural Innovation Inc

“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.”

“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.”

“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.”

“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.”

“The financial statements and conflicts of interest policy are available upon written request or by calling the organization.”

“Rural innovation strategies, inc. (risi) contract labor: program service expenses 2,522,516. Management and general expenses 896,406. Fundraising expenses 143,100. Total expenses 3,562,022. Other outside contract labor: program service expenses 93,121. Management and general expenses 55,255. Fundraising expenses 3,000. Total expenses 151,376.”

“We have not changed this process from the prior year.”