Jonathan M. Mohrhardt
About Jonathan M. Mohrhardt
Jonathan M. Mohrhardt (born 1974) serves as Chief Financial Officer and Treasurer of RiverNorth Capital and Income Fund, Inc. (RSF) with an indefinite term and service since 2015; he is also CFO/Treasurer across several RiverNorth funds and President & Chief Operating Officer of RiverNorth Capital Management, LLC . He holds a B.A. in Finance from Michigan State University and previously served as CFO, CCO and Treasurer of Utopia Funds prior to joining RiverNorth in 2009 . He is a registered representative of ALPS Distributors, Inc. (FINRA CRD# 3106914) and has been registered since October 29, 2014; current roles shown on BrokerCheck include President & COO at RiverNorth Capital Management and CFO/Treasurer for RiverNorth Funds . In RSF filings, he signs as Chief Financial Officer and Treasurer, acting as Principal Financial Officer/Principal Accounting Officer (e.g., June 2, 2025 POS EX) . Performance metrics like TSR, revenue growth, and EBITDA growth tied to his compensation are not disclosed at the Fund level; RSF pays no officer compensation, and any compensation occurs at the adviser (RiverNorth Capital Management) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RiverNorth Securities, LLC | President, CEO, and Chief Compliance Officer | 2010–2012 | Led broker-dealer operations, compliance and management for RiverNorth’s distribution affiliate |
| RiverNorth Capital Management, LLC | Chief Compliance Officer | 2009–2012 | Built and oversaw firm compliance during growth of the fund complex |
| Utopia Funds (SEC-registered open-end fund complex) | CFO, CCO & Treasurer | Before 2009 | Launched fund family; led operations, financial administration, and regulatory compliance |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| ALPS Distributors, Inc. | Registered Representative | 2014–present | Registration active; RiverNorth bio confirms ALPS rep status |
Fixed Compensation
RSF pays no salaries or compensation to its officers; the Fund has no employees. Officer compensation (if any) is paid by the adviser, RiverNorth Capital Management, LLC, and is not disclosed in RSF’s proxy. Therefore, base salary, target bonus %, actual bonus, and perquisites are not available at the Fund level .
Performance Compensation
RSF does not grant stock/option awards to officers and pays no incentive compensation at the Fund; performance metrics (e.g., revenue, EBITDA, TSR) tied to officer pay are not disclosed at the Fund level. Any performance-linked compensation would reside at the adviser and is not reported in RSF’s proxy .
Equity Ownership & Alignment
- Officer share ownership for RSF officers (including Mr. Mohrhardt) is not disclosed in the proxy; director ownership is disclosed separately, and certain 5% beneficial owners and director holdings are listed for RSF (e.g., Sit Investment Associates at 13.13% of common; Patrick W. Galley at 5.56%) but this does not include officer holdings .
- Stock ownership guidelines, pledged shares, hedging, and officer-level compliance status are not disclosed for RSF officers in the proxy .
Employment Terms
| Item | Disclosure |
|---|---|
| RSF Position | Chief Financial Officer and Treasurer |
| Term | Indefinite (officer role) |
| RSF Service Start | Has served since 2015 |
| Other RiverNorth Funds Service | CFO/Treasurer across OPP (since 2016), RMI (since 2018), RMM (since 2019), RFM (since 2020), RMMZ (since 2022), RFMZ (since 2021), RIV (since 2022) |
| Principal Financial/Accounting Officer | Signs RSF filings in that capacity (e.g., POS EX dated June 2, 2025) |
| Contract Terms | No employment contract, severance, change-of-control, clawback, or non-compete provisions disclosed at the Fund level |
Investment Implications
- Pay-for-performance alignment signals at the Fund level are limited: RSF does not compensate officers, and the Fund has no equity or option programs for officers, reducing typical insider-selling pressure tied to vesting schedules; any compensation dynamics reside at the adviser and are not disclosed in RSF proxy materials .
- Retention risk appears mitigated by Mr. Mohrhardt’s long tenure and multi-fund responsibilities within the RiverNorth complex (CFO/Treasurer across funds; firm President & COO), with documented service at RSF since 2015 and prior RiverNorth roles since 2009 .
- Trading signals from insider ownership/transactions are constrained by a lack of officer-level ownership disclosure in RSF’s proxy; investors should monitor Form 3/4 filings directly for updates, as proxy statements do not enumerate officer holdings .
- Governance and control context: RSF’s board and directors oversee the fund; independent director compensation is modest and paid by Adviser for certain funds, while officers receive no pay from the Fund, aligning operational control with the adviser rather than the Fund entity .