MONTANA COMMUNITY DEVELOPMENT CORPORATION

As filed

Subsection

03

NTEE code

S20

Classification

1000

Street

229 E MAIN ST

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

• FOUNDED IN 1986, MONTANA COMMUNITY DEVELOPMENT CORPORATION, DOING BUSINESS AS MOFI ("MOFI"), IS A 501(C)(3) NONPROFIT ORGANIZATION WITH A MISSION TO PROVIDE FINANCING AND ADVISORY SERVICES FOR ECONOMICALLY UNDERSERVED AND DISTRESSED POPULATIONS AND AREAS, TRANSFORMING LIVES AND COMMUNITIES. MOFI IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") AND NEW MARKETS TAX CREDIT ("NMTC") LENDER PROVIDING ACCESS TO CAPITAL AND FREE CONSULTING SERVICES FOR PEOPLE WHO HAVE BEEN LEFT OUT OF THE FINANCIAL MAINSTREAM. MOFI IS INSPIRED BY ONE VISION: TRANSFORMING THE FINANCIAL SYSTEM TO WORK FOR EVERYONE.(CONTINUED ON SCHEDULE O)MOFI WORKS PRIMARILY IN MONTANA, WYOMING, IDAHO, UTAH, OREGON, AND WASHINGTON. MOFI ALSO PROVIDES SMALL BUSINESS LOANS IN NEBRASKA, IOWA, MINNESOTA, NORTH DAKOTA, SOUTH DAKOTA, COLORADO, AND NEVADA. THE ORGANIZATION HAS TWO PRIMARY BUSINESS LENDING AND CONSULTING PROGRAMS: (1) PROVIDING LOANS TO SMALL AND MICROBUSINESSES THAT CANNOT SECURE CONVENTIONAL FINANCING, AND (2) PROVIDING NMTC ENHANCED LOANS TO CATALYTIC PROJECTS THAT CREATE JOBS, PROVIDE CRITICAL COMMUNITY SERVICES AND TRANSFORM ECONOMIES IN THE REGION'S MOST IMPOVERISHED AREAS. WITH EACH LOAN, MOFI PROVIDES COMPREHENSIVE, FREE TECHNICAL ASSISTANCE BOTH THROUGH ITS PRE-LOAN SERVICES AND THROUGH ITS POST-LOAN PATH TO BANKABILITY PROGRAM. BORROWERS RECEIVE ASSISTANCE INCREASING PROFITABILITY, BUILDING STRONGER BALANCE SHEETS, CREDIT BUILDING, ACCOUNTING AND FINANCIAL STATEMENT PREPARATION, PREPARING LEGAL DOCUMENTS, AND STARTING OR BUILDING A RELATIONSHIP WITH A COMMERCIAL LENDER AT A BANK OR CREDIT UNION.

  Expenses $16,842,212 · Grants $83,317 · Revenue $10,199,383

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

• HEIDI DEARMENT

  PRESIDENT & CEO (FROM 2/24)

  Total calculated

  $878,343

  From this org

  $836,302

  From related orgs

  $0

  Other

  $42,041

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $419,235

  Bonus

  $413,722

  Other

  $3,345

  Deferred

  $13,800

  Nontaxable benefits

  $28,241

  Filer's total

  $878,343

• DAVID GLASER

  OUTGOING PRESIDENT (THROUGH 5/24)

  Total calculated

  $468,883

  From this org

  $454,772

  From related orgs

  $0

  Other

  $14,111

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $174,843

  Bonus

  $0

  Other

  $279,929

  Deferred

  $7,089

  Nontaxable benefits

  $7,022

  Filer's total

  $468,883

• NANCY QUIST

  CHAIRPERSON

  Total calculated

  $0

  Hours/week

  1

• TOM SEVERSON

  SECRETARY

  Total calculated

  $0

  Hours/week

  1

• ALLISON JOHNSTON

  TREASURER

  Total calculated

  $0

  Hours/week

  1

• KALLI RYTI

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• SARA SMITH

  OUTGOING DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• ROBERT VILLAREAL

  DIRECTOR (FROM 3/24)

  Total calculated

  $0

  Hours/week

  1

• NATALIE CAMACHO MENDOZA

  OUTGOING DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• LISA COOPER

  OUTGOING DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• SERENA RUNDBERG

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• JOSE VILLALOBOS

  DIRECTOR (FROM 3/24)

  Total calculated

  $0

  Hours/week

  1

• DON KING

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• BOB GAUTHIER

  OUTGOING DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• JORDAN RUIZ

  DIRECTOR (FROM 9/24)

  Total calculated

  $0

  Hours/week

  1

• GREG ASTLE

  CFO

  Total calculated

  $623,888

  From this org

  $598,295

  From related orgs

  $0

  Other

  $25,593

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $303,394

  Bonus

  $293,701

  Other

  $1,200

  Deferred

  $9,370

  Nontaxable benefits

  $16,223

  Filer's total

  $623,888

• BEN WRIGHT

  VICE PRESIDENT (FROM 11/24)

  Total calculated

  $526,602

  From this org

  $491,789

  From related orgs

  $0

  Other

  $34,813

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $246,823

  Bonus

  $243,766

  Other

  $1,200

  Deferred

  $10,172

  Nontaxable benefits

  $24,641

  Filer's total

  $526,602

• LEAH KNICKERBOCKER

  CHIEF LENDING OFFICER

  Total calculated

  $232,049

  From this org

  $209,369

  From related orgs

  $0

  Other

  $22,680

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $181,008

  Bonus

  $27,161

  Other

  $1,200

  Deferred

  $7,100

  Nontaxable benefits

  $15,580

  Filer's total

  $232,049

• ALYSSA PETERMAN

  CHIEF SALES OFFICER

  Total calculated

  $237,310

  From this org

  $217,293

  From related orgs

  $0

  Other

  $20,017

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $109,249

  Bonus

  $102,272

  Other

  $5,772

  Deferred

  $4,437

  Nontaxable benefits

  $15,580

  Filer's total

  $237,310

• BETSY BEAUVAIS

  CHIEF LEARNING AND DEVELOP

  Total calculated

  $514,221

  From this org

  $475,995

  From related orgs

  $0

  Other

  $38,226

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $253,040

  Bonus

  $221,755

  Other

  $1,200

  Deferred

  $10,485

  Nontaxable benefits

  $27,741

  Filer's total

  $514,221

• RACHEL MCDONOUGH

  CONTROLLER

  Total calculated

  $283,184

  From this org

  $247,873

  From related orgs

  $0

  Other

  $35,311

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $204,873

  Bonus

  $41,800

  Other

  $1,200

  Deferred

  $8,570

  Nontaxable benefits

  $26,741

  Filer's total

  $283,184

• KANDRA ROBERTS

  DIRECTOR OF IMPACT & COMPLIANCE

  Total calculated

  $210,133

  From this org

  $179,573

  From related orgs

  $0

  Other

  $30,560

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $163,696

  Bonus

  $14,745

  Other

  $1,132

  Deferred

  $6,699

  Nontaxable benefits

  $23,861

  Filer's total

  $210,133

• MADISON BROOKE

  CHIEF OPERATING OFFICER

  Total calculated

  $197,233

  From this org

  $170,195

  From related orgs

  $0

  Other

  $27,038

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $158,114

  Bonus

  $10,936

  Other

  $1,145

  Deferred

  $667

  Nontaxable benefits

  $26,371

  Filer's total

  $197,233

• KATHERINE LANE

  CHIEF PEOPLE OFFICER

  Total calculated

  $227,140

  From this org

  $220,000

  From related orgs

  $0

  Other

  $7,140

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $73,333

  Bonus

  $0

  Other

  $146,667

  Deferred

  $0

  Nontaxable benefits

  $7,140

  Filer's total

  $227,140

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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $35,080,929

  Expenses

  $19,074,018

  Contributions

  $23,571,343

  Grants paid

  $83,317

• 2023

  Revenue

  $18,875,682

  Expenses

  $13,420,404

  Contributions

  $8,762,349

  Grants paid

  $112,085

• 2022

  Revenue

  $20,160,998

  Expenses

  $9,817,635

  Contributions

  $6,591,235

  Grants paid

  $561,000

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $17,427,104

  Expenses

  $10,439,004

  Assets (EOY)

  $128,107,962

• 2020 · 990

  Revenue

  $15,132,127

  Expenses

  $10,202,019

  Assets (EOY)

  $91,314,277

• 2019 · 990

  Revenue

  $9,377,906

  Expenses

  $7,346,772

  Assets (EOY)

  $53,007,879

• 2018 · 990

  Revenue

  $9,655,449

  Expenses

  $6,783,645

  Assets (EOY)

  $47,372,721

• 2017 · 990

  Revenue

  $8,100,852

  Expenses

  $6,300,440

  Assets (EOY)

  $42,346,054

• 2016 · 990

  Revenue

  $8,478,272

  Expenses

  $5,498,695

  Assets (EOY)

  $39,823,508

• 2015 · 990

  Revenue

  $6,466,177

  Expenses

  $4,342,866

  Assets (EOY)

  $33,989,298

• 2014 · 990

  Revenue

  $9,573,381

  Expenses

  $3,844,475

  Assets (EOY)

  $33,419,833

• 2013 · 990

  Revenue

  $5,746,752

  Expenses

  $3,733,071

  Assets (EOY)

  $27,907,348

• 2013 · 990

  Revenue

  $5,746,752

  Expenses

  $3,733,071

  Assets (EOY)

  $27,907,348

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• UTAH STATE UNIVERSITY

  $70,000

  2024 · PROJECT SUPPORT

• SUAZO BUSINESS CENTER

  $27,663

  2023 · HISPANIC OUTREACH

• NACDC FINANCIAL SERVICES

  $21,000

  2023 · YOUTH MATCHED SAVINGS PROGRAM

• HUIZAR LLC

  $11,337

  2023 · CLOSING COSTS

• 3 RIVERS EYECARE LLC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

• AESTHETIC ORAL ARTS INC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

• AJ CREATIONS LLC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

• ALPINE LIGHTING CENTER INC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

• ALTER ENTERPRISE LLC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

• APORTA TEXTILES LLC

  $8,500

  2022 · PROFESSIONAL ASSISTANCE/SERVICES FOR CLIENT

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

• GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC

  $10,000,000

  2024 · MEDICAL / PUBLIC SERVICES

• OPPORTUNITY FINANCE NETWORK

  $250,000

  2023 · FINANCE JUSTICE FUND SUBGRANT

• OPPORTUNITY FINANCE NETWORK

  $100,000

  2022 · OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG

• MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC

  $10,000

  2024 · UNRESTRICTED GENERAL SUPPORT

• MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC

  $10,000

  2023 · UNRESTRICTED GENERAL SUPPORT

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files