Skip to content
Nonprofiteer
← THE MORTGAGE CAPITAL DEVELOPMENT COMPANY

Form 990 for tax year 2023

Filed by THE MORTGAGE CAPITAL DEVELOPMENT COMPANY.

Totals

Total revenue
$24,303,783
Total expenses
$23,926,074
Contributions and grants received
$0
Grants paid
$191,609
Program service revenue
$23,967,171
Investment income
$239,250
Other revenue
$97,362
Total assets, end of year
$24,782,264
Total liabilities, end of year
$9,806,680
Net assets or fund balances, end of year
$14,975,584
Program services expenses (Part IX)
$20,274,446
Management and general expenses
$3,651,628
Fundraising expenses
$0
Program service expenses (Part III)
$20,274,446

Program services were 84.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • BARBARA MORRISON

    PRESIDENT/CEO

    Total calculated
    $1,192,146
    From this org
    $1,068,277
    From related orgs
    $0
    Other
    $123,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $793,029
    Bonus
    $261,555
    Other
    $13,693
    Deferred
    $122,500
    Nontaxable benefits
    $1,369
    Filer's total
    $1,192,146

  • KELLY LAROCCA

    VICE CHAIR/TREAS/SEC (THRU FEB)

    Total calculated
    $3,300
    From this org
    $3,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • DJ KURTZE

    CHAIR/VICE CHAIR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • SCOTT MANIVONG

    CHAIR (THRU JAN)

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • THOMAS CHAVEZ

    TREAS/SEC (AS OF FEB)

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • DANIEL FUJIMOTO

    BOARD MEMBER

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • DAVE GRIFFIS

    BOARD MEMBER (THRU JAN)

    Total calculated
    $2,135
    From this org
    $2,135
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • DAVID HOFMANN

    BOARD MEMBER

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • ARTUR WASHINGTON

    BOARD MEMBER

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • JENNIFER ELTINGE

    BOARD MEMBER

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • JAMES CHEUNG

    BOARD MEMBER

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • TED UPLAND

    BOARD MEMBER (THRU JAN)

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • IAN MCDANIAL

    BOARD MEMBER (THRU JAN)

    Total calculated
    $900
    From this org
    $900
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • STEVE POLLETT

    BOARD MEMBER

    Total calculated
    $900
    From this org
    $900
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • KEITH MERKLINK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • WILLIAM SOMMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • ANSIE TING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • KURT CHAMBLISS

    EXECUTIVE VP BUSINESS DEV.

    Total calculated
    $661,537
    From this org
    $619,821
    From related orgs
    $0
    Other
    $41,716
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,096
    Bonus
    $381,463
    Other
    $10,262
    Deferred
    $5,100
    Nontaxable benefits
    $36,616
    Filer's total
    $661,537

  • MIKE VANECEK

    CFO / CIO

    Total calculated
    $490,878
    From this org
    $454,544
    From related orgs
    $0
    Other
    $36,334
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,344
    Bonus
    $131,322
    Other
    $3,878
    Deferred
    $2,500
    Nontaxable benefits
    $33,834
    Filer's total
    $490,878

  • GREGG MITCHELL

    COO

    Total calculated
    $373,856
    From this org
    $357,740
    From related orgs
    $0
    Other
    $16,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,185
    Bonus
    $41,555
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $13,616
    Filer's total
    $373,856

  • DEAN ALOE

    BUS. DEV. OFFICER

    Total calculated
    $691,999
    From this org
    $664,738
    From related orgs
    $0
    Other
    $27,261
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $498,988
    Other
    $5,750
    Deferred
    $5,100
    Nontaxable benefits
    $22,161
    Filer's total
    $691,999

  • CHRIS BANE

    BUS. DEV. OFFICER

    Total calculated
    $565,259
    From this org
    $534,872
    From related orgs
    $0
    Other
    $30,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $401,535
    Other
    $3,337
    Deferred
    $5,100
    Nontaxable benefits
    $25,287
    Filer's total
    $565,259

  • GEOFFREY MCGIVERN

    BUS. DEV. OFFICER

    Total calculated
    $537,628
    From this org
    $503,212
    From related orgs
    $0
    Other
    $34,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $367,306
    Other
    $5,906
    Deferred
    $5,100
    Nontaxable benefits
    $29,316
    Filer's total
    $537,628

  • JENNIFER DAVIS

    BUS. DEV. OFFICER

    Total calculated
    $391,513
    From this org
    $367,463
    From related orgs
    $0
    Other
    $24,050
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,000
    Bonus
    $219,233
    Other
    $8,230
    Deferred
    $5,100
    Nontaxable benefits
    $18,950
    Filer's total
    $391,513

  • ARMEN MADATYAN

    BUS. DEV. OFFICER

    Total calculated
    $348,913
    From this org
    $321,500
    From related orgs
    $0
    Other
    $27,413
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,000
    Bonus
    $178,350
    Other
    $3,150
    Deferred
    $5,100
    Nontaxable benefits
    $22,313
    Filer's total
    $348,913

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE PERSONS LISTED BELOW RECEIVED PAYMENT FOR HEALTH CLUB DUES. THESE PAYMENTS WERE INCLUDED IN THEIR W-2S AND TREATED AS TAXABLE COMPENSATION. - BARBARA MORRISON - KURT CHAMLISS - MIKE VANECEK - DEAN ALOE - GEOFFREY MCGIVERN - JENNIFER DAVIS - GREG MITCHELL - ARMEN MADATYAN
PART I, LINE 4B
TMC ANNUALLY CONTRIBUTES $120,000 TO A SUPPLEMEMTAL EXECUTIVE RETIREMENT PLAN (SERP) CREATED IN 2013 FOR THE PRESIDENT/CEO, BARBARA MORRISON. THE SERP WAS ESTABLISHED FOR BARBARA MORRISON BEGINNING 01/01/2013 WITH ANNUAL CONTRIBUTION OF $120,000 FOR FIVE YEARS VESTING IN 12/31/2017. AT 01/01/2017, THE SERP WAS EXTENDED TO 12/31/2021. AGAIN, AT 05/04/2023, THE SERP WAS EXTENDED TO 12/31/2026.
PART I, LINE 5
THE FOLLOWING PERSONS RECEIVED COMMISSION COMPENSATION BASED ON THE GROSS SBA DEBENTURE AMOUNT OF QUALIFIED FUNDED LOANS: DEAN ALOE, KURT CHAMBLISS, CHRIS BANE, JENNIFER DAVIS, GEOFFREY MCGIVERN AND ARMEN MADATYAN.
PART I, LINE 7
THE FOLLOWING OFFICERS RECEIVED NON-FIXED BONUSES APPROVED BY THE BOARD OF DIRECTORS: BARBARA MORRISON, MIKE VANECEK, GREGG MITCHELL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202542279349302639

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.