Overview
What is Rocky Mountain Microfinance?
Rocky Mountain Microfinance (RMMFI) is a nonprofit organization located in Denver, Colorado, with a mission to empower entrepreneurs from diverse backgrounds. They provide a holistic approach to personal and business development, combining classroom instruction, coaching, capital, and community support. RMMFI's programs, such as the Idea and Launch phases, help entrepreneurs build strong foundations for their businesses and lives. Through these phases, qualified individuals can receive mentorship, seed capital, and practical tools to launch their ventures. Since its inception in 2008, RMMFI has assisted over 300 businesses in Colorado, primarily owned by women and individuals of color, and has lent over $878,000 with a 94% repayment rate. The organization's mission is to create a space for communities to foster unique potentials through entrepreneurship, contributing to social and economic benefits for individuals, households, and communities.
Official website here: www.rmmfi.org
Is Rocky Mountain Microfinance legitimate?
Rocky Mountain Microfinance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rocky Mountain Microfinance submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $122,335
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,691,333
For more financial information, click here
Official website here: www.rmmfi.org
What is the mission statement of Rocky Mountain Microfinance?
Rocky Mountain Microfinance (RMMFI) aims to facilitate community development and empower individuals from diverse backgrounds by investing in their entrepreneurial journey. Through a blend of classroom instruction, coaching, capital, and community engagement, RMMFI supports the personal and business growth of aspiring entrepreneurs. Since its inception in 2008, the organization has assisted over 300 businesses, with a majority owned by women and people of color, and has disbursed over $878,000 in loans with a high repayment rate of 94%. RMMFI's holistic approach fosters strong foundations in both individuals' lives and their businesses, bringing people, businesses, and communities together to unlock the social and economic benefits of entrepreneurship and create positive impacts for their businesses, households, and communities.
Official website here: www.rmmfi.org
Who is the CEO of Rocky Mountain Microfinance?
Jessica Sveen is the Chair of Rocky Mountain Microfinance. The CEO's salary of Rocky Mountain Microfinance is $122,634 and their total compensation is $122,634.
Official website here: www.rmmfi.org
What is the revenue of Rocky Mountain Microfinance?
Who are the executives of Rocky Mountain Microfinance and what are their salaries?
The average compensation at Rocky Mountain Microfinance during 2022 was $56,677. There are 32 employees and 235 volunteers at Rocky Mountain Microfinance.
Here are 13 key members and their salaries (Rocky Mountain Microfinance's CEO's salary is $122,634 and their total compensation is $122,634):
- Jessica Sveen (Ceo)
- Abbey O' Neal (Chair) [Trustee/Director]
- Ravi Duggirila (Chair Elect) [Trustee/Director]
- Jay Whisenton (Secretry) [Trustee/Director]
- Deanna Mettler (Treasurer) [Trustee/Director]
- Chris Coble (Exec Committee Member At Large) [Trustee/Director]
- Edgar Aguilar (Member) [Trustee/Director]
- Rebecca Darling (Member) [Trustee/Director]
- Justin Ball (Member) [Trustee/Director]
- Katie Genova (Member) [Trustee/Director]
- Miles Williams (Member) [Trustee/Director]
- Sandra Ortega (Member) [Trustee/Director]
- Kelli Daniels (Member) [Trustee/Director]
Official website here: www.rmmfi.org
Where can I find the form 990 for Rocky Mountain Microfinance?
The Rocky Mountain Microfinance’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.rmmfi.org
Learn more at the official website: www.rmmfi.org
Mission Statement of Rocky Mountain Microfinance
Rocky Mountain Microfinance (RMMFI) is an organization dedicated to empowering individuals through entrepreneurship. Its mission is to create an environment where communities and individuals of all backgrounds can realize their unique potential. RMMFI achieves this by investing in entrepreneurs' personal and business development through a comprehensive approach that combines classroom instruction, coaching, capital, and community support.
Since its establishment in 2008, RMMFI has supported the launch or expansion of over 300 businesses in Colorado, with a focus on those owned by women and people of color. The organization has lent over $878,000 through more than 300 loans, boasting a remarkable 94% repayment rate. RMMFI's holistic approach aims to help entrepreneurs build strong foundations in both their personal lives and their businesses, fostering social and economic benefits for their businesses, households, and communities.
The organization intentionally follows an idea, launch, and thrive business incubator pathway, with each phase designed to provide entrepreneurs with the tools and support they need to succeed. The idea phase focuses on building the foundations needed for business success, offering cohort-based programming, mentorship, and seed capital to qualified entrepreneurs. The launch phase helps entrepreneurs get their businesses up and running with actionable plans and all the necessary tools and support.
Impact
This information is meant to be a general summary of Rocky Mountain Microfinance. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Rocky Mountain Microfinance, through its holistic approach to entrepreneurship, has made a significant impact in Colorado since 2008. They have supported the launch or expansion of over 300 businesses, with 90% being owned by women and/or people of color. This organization has provided over $878,000 in loans with an impressive 94% repayment rate, helping individuals tap into the social and economic benefits of business ownership. By investing in entrepreneurs' personal and business development through classroom instruction, coaching, capital, and community support, Rocky Mountain Microfinance has enabled individuals to create impact for their businesses, households, and communities, ultimately contributing to community improvement in Denver and beyond.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Business Class Income
Revenue
$9,090
Loan Collection Income
Revenue
$4,226
Organization Details
Founding Year
2008
Phone
(720) 941-5037
Principal Officer
Jessica Sveen
Main Address
1209 W 10th Ave, Denver, CO, 80204
Website
www.rmmfi.org
NTEE Category
Code: S20 - Community improvement
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