ROCKY MOUNTAIN MICROFINANCE INSTITUTE

DENVER, CO | Denver County
Economic Development
ROCKY MOUNTAIN MICROFINANCE INSTITUTE
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

ROCKY MOUNTAIN MICROFINANCE INSTITUTE
26-3218152
1209 W 10TH AVE
DENVER, CO 80204
Denver County
(720) 941-5037

alex@rmmfi.org
Mission Statement info

PEOPLE ARE UNSTOPPABLE FORCES. LIFE CIRCUMSTANCES ARE REAL AND SOMETIMES OVERWHELMING, BUT THEY SHOULD NOT DETERMINE WHAT YOU CAN DO IN THE PRESENT OR BE IN THE FUTURE. WE BELIEVE EVERYONE SHOULD BE FREE TO MAKE CHOICES TO ACTIVATE THE POSSIBLE. RMMFI CREATES THE SPACE FOR COMMUNITIES AND PEOPLE OF ALL BACKGROUNDS TO REALIZE THEIR UNIQUE POTENTIAL THROUGH THE POWER OF ENTREPRENEURSHIP.

CRA Category info
  • Economic Development
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
2008
Total Employees info
39
Total Volunteers info
355
Nonprofit Classification (NTEE Code) info
S20

S - Community Improvement, Capacity Building

Community & Neighborhood Development

Organizations that focus broadly on strengthening, unifying and building the economic, cultural, educational and social services of an urban community or neighborhood. Use this code for community and neighborhood improvement organizations other than those specified below.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Immigrants or Refugees
  • People Needing Credit Counseling
  • Inmates or Ex-Offenders
  • LGBTQ Individuals
  • Men
  • Minority Individuals
  • Minority-Owned Businesses
  • Rural Residents
  • Small Businesses
  • Underbanked or Unbanked
  • Veterans
  • Women
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
100%
Percent LMI Served info
as reported by the nonprofit
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
LOWHIGH
LOWHIGH
LOWHIGH
LOWHIGH
Programs & Services info
Idea, Launch, Thrive Business BootCamp Incubator/Accelerator
After completing the Idea Phase, RMMFI invites qualified entrepreneurs to continue their business journey in the Launch Phase. Just like it sounds, Launch is all about helping you get your business up and running with an actionable plan and all the tools and support you’ll need. The Launch Phase begins with Business Launch Boot Camp, a 12-week intensive program serving 10-12 committed entrepreneurs per cohort. During Business Launch Boot Camp, entrepreneurs receive: Simple and proven curriculum that shows you how to build an actionable plan to launch your business. 12 hours of mentorship and coaching from dedicated volunteers with expertise in business, finance, and accountability. Access to Launch Grants and microloans
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Immigrants or Refugees
  • People needing Credit Counseling
  • Inmates or Ex-Offenders
  • LGBTQ Individuals
  • Men
  • Minority Individuals
  • Minority-Owned Businesses
  • Rural Residents
  • Underbanked or Unbanked
  • Veterans
  • Unemployed
  • Women
  • Women-Owned Businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
-
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2021 $227,000 CDFI Rapid Response Program (COVID-19) open_in_new Rocky Mountain MicroFinance Institute
2019 $125,000 CDFI Technical Assistance open_in_new Rocky Mountain MicroFinance Institute
2020 $125,000 CDFI Technical Assistance open_in_new Rocky Mountain MicroFinance Institute
2021 $125,000 CDFI Technical Assistance open_in_new Rocky Mountain MicroFinance Institute

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$2.7M
Revenue
$2.7M
Assets
$3.2M

IRS Business Master File Details info

As of November 2022 Update
Exempt Ruling Date info
2010-03
Deductibility Status info
Deductible
Last Tax Filing info
2021
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of April 2023
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

Nonprofit Location

Physical Address info
1209 W 10TH AVE
DENVER, CO 80204
Denver County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
19740
MSA/MD info
08
State info
031
County info
0019.01
Tract info
Moderate
Income Level info
Core-Based Statistical Area info
19740 - Denver-Aurora-Lakewood, CO
Combined Statistical Area info
216 - Denver-Aurora, CO
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 62.98%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info
Geographies Served info
  • CO - All Counties

Market Data

Census Tract County
0019.01 Denver County
Population
Total Population 3,903 706,799
Total Households 1,357 313,926
Income
Median Family Income (Census*) $65,703 $78,177
Median Family Income (2022 FFIEC est.) $117,800 $117,800
Tract Income Percentage 63.69% N/A
Below Poverty Level 34.1% 11.6%
Unemployment Level 12.8% 4.6%
Housing
Total Housing Units 1,410 335,131
Total Owner-Occupied Units 21.4% 49.6%
Total Renter-Occupied Units 74.8% 50.4%
Total Vacant Units 3.8% 5.6%
* Census tract income based on 2020 Census estimated data; County income based on 2021 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

10
Total Voting Members
in Governing Body info
10
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Aimee Charlton
President
(720) 941-5037
Principal Officer info
Rob Smith
findCRA Profile Owner
Alexander Rosado
Development Director
alex@rmmfi.org
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.