Annual Report 2014-2015

Whowe are

Rural Dynamics, Inc. (RDI) provides a collection of programs and services aimed at helping people achieve financial security and pursue economic opportunities. We strive to create an environment that supports personal financial freedom by offering programs, developing partnerships and influencing policy.

“We exist to empower people to achieve their vision of a successful future.”

Programs & Services

Credit & Debt

Previously known as Consumer Credit Counseling Service, we have been providing credit and debt management and bankruptcy counseling for the past 40 years in Montana. In the last several years, we have branched out to Idaho, Wyoming, Oregon and Washington. On average, RDI clients who are enrolled in a debt management plan (DMP) pay their debt off in 3-5 years whereas the same debt would take 25-30 years without our assistance.

  • 5045financial counsels completed
  • 244 new DMPs
  • $15k median debt
  • $6,412,129.54 paid on DMPs[JL1]

Financial Education

A big part of our mission is to ensure that youth, individuals and families have the knowledge and tools to reach financial independence. We accomplish this through several different classes and workshops designed to assist in establishing healthily financial habits by managing debt, building credit, and ultimately becoming financially independent.

Dollars & Sense, financial literacy course for adults

  • 135 students participated in29 different classes were held. (Average pre-test score was 69% - the average post-test score was 90%)

Financial Fitness for Life, financial literacy course for youth

  • Alternative High School: 75 students participated in three classes, 61 completed (average pre-test score was 57% - the average post-test score was 88%)

Tax Help Montana

Tax Help Montana (THM) is a thmtweb2 Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) program made up of a coalition of community partners that provide free individual income tax preparation for low- to-moderate income and elderly individuals and families across Montana and Idaho. These services are available to taxpayers who generally make less than about $55,000 annually or who are eligible for the Earned Income Tax Credit (EITC). The EITC is a federal anti-poverty program that gives refundable tax credits to low- to moderate-income working families. According to the Internal Revenue Service, greater than 20 percent of eligible taxpayers do not claim this important and valuable credit for some reason or another. A main objective of the VITA program is to help bring awareness of the EITC to the public. Tax Help Montana volunteer tax preparers are trained and IRS-certified to help ensure each client is receiving this and other tax credits for which they qualify. Preparing taxes for free helps taxpayers keep more money in their pockets, helping to lead them to the path of financial security.

  • Tax Help Montana volunteers completed (4,980) federal returns and (3,838) state.
  • Of those served, 22% were Native American, 26% were senior citizens and 58% were individuals with low to moderate incomes.
  • Returning $8,327,355 in tax refunds to Montana and Idaho families.

Public PolicyAdvocacy

It’s safe to assume many of our elected officials have neverrelied on government assistance programsto provide for their household. And that’s okay, however, many Montanan’s have and consequently, lines of communication between government agencies and community members receiving need-based support, are nonexistent. The development and implementation of public policy must promote an informed decision. Whether it’s through a public forum, coalition building activities or providing testimony during a legislative committee, we have a responsibility to serve as both a resource for our state and federal decision makers as well as a strong, united voice for our clients and underserved community members.

2013-2015 Financials

Assets / 2013 / 2014 / 2015
Cash and Cash Equivalents / $507,815 / $462,996 / $656,611
Accounts Receivable / $20,328 / $156,025 / $320,958
Other Current Assets / $823,757 / $931,800 / $147,503
Total Fixed Assets / $723,530 / $681,704 / $656,611.85
Total Other Assets / $1,072 / $25,319 / $30,708
Total Assets / $3,147,696 / $2,257,856 / $2,250,020
Liabilities & Equity / 2013 / 2014 / 2015
Account Payable / $30,868 / $14,245 / $18,925
Other Current Liabilities / $1,335,803 / $350,754 / $350,184
Equity / $1,781,025 / $1,892,846 / $1880,910
Total Liabilities & Net Assets / $3,147,696 / $2,257,856 / $2,250,020

Ruraldynamics.org

877.275.2227

1 | Page

[JL1]Char – please update these with the numbers from the report in Gdrive