Overview
What is Michigan Rural Rehabilitation Corp?
Michigan Rural Rehabilitation Corp is a nonprofit organization situated in Marshall, Michigan. Their primary role involves providing educational loans to rural students and offering mortgages to farmers and other rural residents, acting as a last resort lender. Additionally, the corporation awards grants to youth organizations and students, promoting the objective of fostering rural living. With a modest team of four employees, they work in collaboration with the USDA-Rural Development Agency under a "per use" agreement.
Official website here: www.mrrccollegeloans.com
Is Michigan Rural Rehabilitation Corp legitimate?
Michigan Rural Rehabilitation Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Michigan Rural Rehabilitation Corp 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $67,259
For more financial information, click here
Official website here: www.mrrccollegeloans.com
What is the mission statement of Michigan Rural Rehabilitation Corp?
Michigan Rural Rehabilitation Corp's mission is to serve as a lender of last resort, providing financial assistance to rural students, farmers, residents, and youth organizations. The corporation operates under a "per use" agreement with the USDA-Rural Development Agency, offering educational loans to students and mortgages to farmers and other rural residents. Furthermore, grants are awarded to students and youth organizations to support initiatives that promote rural living objectives.
Official website here: www.mrrccollegeloans.com
Who is the CEO of Michigan Rural Rehabilitation Corp?
William Martin is the Chairman of Michigan Rural Rehabilitation Corp.
Official website here: www.mrrccollegeloans.com
What is the revenue of Michigan Rural Rehabilitation Corp?
Michigan Rural Rehabilitation Corp's revenue in 2023 was $272,361.
Official website here: www.mrrccollegeloans.com
Who are the executives of Michigan Rural Rehabilitation Corp and what are their salaries?
The average compensation at Michigan Rural Rehabilitation Corp during 2023 was $17,665. There are 4 employees at Michigan Rural Rehabilitation Corp.
Here are 6 key members and their salaries:
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
Official website here: www.mrrccollegeloans.com
Where can I find the form 990 for Michigan Rural Rehabilitation Corp?
Michigan Rural Rehabilitation Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mrrccollegeloans.com
Learn more at the official website: www.mrrccollegeloans.com
Mission Statement of Michigan Rural Rehabilitation Corp
Michigan Rural Rehabilitation Corp, as a lender of last resort, is committed to providing financial aid to several rural communities and groups. Its mission is centered around extending loans to students, farmers, residents, and youth organizations within these rural areas. The organization operates under a "per use" agreement with the USDA-Rural Development Agency, enabling it to offer educational loans to rural students and provide mortgages to farmers and other rural residents. In addition to these loan services, Michigan Rural Rehabilitation Corp also awards grants to students and youth organizations to promote and foster objectives related to rural living.
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Impact
October, 2024
Michigan Rural Rehabilitation Corp significantly enhances the lives of rural students, farmers, and residents by providing crucial financial support. It offers loans tailored to the unique needs of these communities, ensuring that barriers to education and housing can be overcome. By partnering with the USDA-Rural Development Agency, the organization effectively channels resources to facilitate educational loans for rural students, allowing them to pursue their academic goals without the burden of overwhelming debt.
In addition to educational loans, it provides mortgages specifically designed for farmers and other rural residents, helping to secure stable housing and foster community development. The organization also awards grants to students and youth organizations, promoting initiatives that encourage rural living and strengthen local ties. Through these efforts, Michigan Rural Rehabilitation Corp plays a vital role in community improvement, supporting the aspirations of individuals and families in rural areas while contributing to the overall resilience of these communities.
This information is meant to be a general summary of Michigan Rural Rehabilitation Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
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 2023.
- Investment Income: $7,649
- Program Service Revenue: $264,778
- Gross Receipts: $288,367
Assets and Liabilities:
- Total Assets: $5,814,708
- Total Liabilities: $30,488
- Net Assets: $5,784,220
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROAP LOAN INT
Revenue
$228,146
STUDENT LOAN INTEREST
Revenue
$35,120
RD/4H/FFA
Revenue
$1,512
Organization Details
Founding Year
1935
Phone
(269) 781-4646Principal Officer
William Martin
Main Address
PO BOX 188 18625 CENTENNIAL RD, MARSHALL, MI, 490680188
Website
www.mrrccollegeloans.comNTEE Category
Code: S30 - Community improvement
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