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Nonprofiteer
← THE MORTGAGE CAPITAL DEVELOPMENT COMPANY

Form 990 for tax year 2024

Filed by THE MORTGAGE CAPITAL DEVELOPMENT COMPANY.

Totals

Total revenue
$29,616,255
Total expenses
$26,281,880
Contributions and grants received
$0
Grants paid
$196,701
Program services expenses (Part IX)
$22,061,626
Management and general expenses
$4,220,254
Fundraising expenses
$0
Program service expenses (Part III)
$22,061,626

Program services were 83.9% 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
    $1,197,272
    From this org
    $1,073,212
    From related orgs
    $0
    Other
    $124,060
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $792,838
    Bonus
    $261,555
    Other
    $18,819
    Deferred
    $122,500
    Nontaxable benefits
    $1,560
    Filer's total
    $1,197,272

  • KELLY LAROCCA

    VICE CHAIR (THRU 1/25)

    Total calculated
    $2,493
    From this org
    $2,493
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • DJ KURTZE

    CHAIR

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • THOMAS CHAVEZ- TREASSEC

    (THRU 1/25)VICE CHAIR(AS OF 2/25)

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

  • WILLIAM SOMMER- TREASURER

    SECRETARY (AS OF 2/25)

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

  • ANSIE TING

    BOARD MEMBER

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • KEITH MERKLIN

    BOARD MEMBER

    Total calculated
    $1,050
    From this org
    $1,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • IAN MCDANIEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • BRIAN FINNEGAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • DAVID HOFMANN

    BOARD MEMBER

    Total calculated
    $3,000
    From this org
    $3,000
    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

  • STEVE POLLETT

    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
    $1,524
    From this org
    $1,524
    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

  • ARTUR WASHINGTON

    BOARD MEMBER (THRU 1/25)

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

  • KURT CHAMBLISS

    EXECUTIVE VP BUSINESS DEV.

    Total calculated
    $666,637
    From this org
    $624,921
    From related orgs
    $0
    Other
    $41,716
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,096
    Bonus
    $386,563
    Other
    $10,262
    Deferred
    $5,100
    Nontaxable benefits
    $36,616
    Filer's total
    $666,637

  • 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
    $689,604
    From this org
    $651,101
    From related orgs
    $0
    Other
    $38,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,758
    Bonus
    $498,988
    Other
    $3,355
    Deferred
    $5,100
    Nontaxable benefits
    $33,403
    Filer's total
    $689,604

  • 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

  • BRYCE FENNELL

    BUS. DEV. OFFICER

    Total calculated
    $406,625
    From this org
    $377,957
    From related orgs
    $0
    Other
    $28,668
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $246,140
    Other
    $1,817
    Deferred
    $5,100
    Nontaxable benefits
    $23,568
    Filer's total
    $406,625

  • JAMES AZEVEDO

    BUS. DEV. OFFICER

    Total calculated
    $409,411
    From this org
    $380,743
    From related orgs
    $0
    Other
    $28,668
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $239,683
    Other
    $6,060
    Deferred
    $5,100
    Nontaxable benefits
    $23,568
    Filer's total
    $409,411

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 — 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 · 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 - GREG MITCHELL - DEAN ALOE - CHRIS BANE - GEOFFREY MCGIVERN - JENNIFER DAVIS - JAMES AZEVEDO
PART I, LINE 4B
TMC CONTRIBUTED $120,000 IN CALENDAR YEAR 2024 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, WITH DISTRIBUTIONS AT 1/1/2026 AND 1/1/2027.
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 JAMES AZEVEDO.
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
2024
IRS schema version
2024v5.5
Source object
202632309349301038

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