2025-05-15T09:38:54-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2024-01-01 810500256 MONTANA COMMUNITY DEVELOPMENT CORP MONT 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 HEIDI DEARMENT PRESIDENT & CEO 4067289234 2025-05-15 1 1 ZACHARY SEGAL P01511850 9732283500 2025-05-13 2024 2025-03-06 01:10:19Z MOFI NANCY QUIST 229 EAST MAIN STREET MISSOULA MT 59802 35080929 0 X WWW.MOFI.ORG X 1995 MT SEE FORM 990, PART III, LINE 1. 10 9 49 9 0 0 8762349 23571343 9082063 10199383 1031270 1310203 0 0 18875682 35080929 112085 83317 0 0 7004514 10236541 0 0 0 6303805 8754160 13420404 19074018 5455278 16006911 108692503 147958538 48778636 72037760 59913867 75920778 X MOFI'S MISSION IS TO PROVIDE FINANCING AND ADVISORY SERVICES FOR ECONOMICALLY UNDERSERVED AND DISTRESSED POPULATIONS AND AREAS, TRANSFORMING LIVES AND COMMUNITIES. 0 0 16842212 83317 10199383 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. 16842212 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 75 0 1 49 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO IA ID MN MT ND NE NV OR SD UT WA WY X RACHEL MCDONOUGH 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 HEIDI DEARMENT PRESIDENT & CEO (FROM 2/24) 40.00 X X 836302 0 42041 DAVID GLASER OUTGOING PRESIDENT (THROUGH 5/24) 40.00 X X 454772 0 14111 NANCY QUIST CHAIRPERSON 1.00 X X 0 0 0 TOM SEVERSON SECRETARY 1.00 X X 0 0 0 ALLISON JOHNSTON TREASURER 1.00 X X 0 0 0 KALLI RYTI DIRECTOR 1.00 X 0 0 0 SARA SMITH OUTGOING DIRECTOR 1.00 X 0 0 0 ROBERT VILLAREAL DIRECTOR (FROM 3/24) 1.00 X 0 0 0 NATALIE CAMACHO MENDOZA OUTGOING DIRECTOR 1.00 X 0 0 0 LISA COOPER OUTGOING DIRECTOR 1.00 X 0 0 0 SERENA RUNDBERG DIRECTOR 1.00 X 0 0 0 JOSE VILLALOBOS DIRECTOR (FROM 3/24) 1.00 X 0 0 0 DON KING DIRECTOR 1.00 X 0 0 0 BOB GAUTHIER OUTGOING DIRECTOR 1.00 X 0 0 0 JORDAN RUIZ DIRECTOR (FROM 9/24) 1.00 X 0 0 0 GREG ASTLE CFO 40.00 X 598295 0 25593 BEN WRIGHT VICE PRESIDENT (FROM 11/24) 40.00 X 491789 0 34813 LEAH KNICKERBOCKER CHIEF LENDING OFFICER 40.00 X 209369 0 22680 ALYSSA PETERMAN CHIEF SALES OFFICER 40.00 X 217293 0 20017 BETSY BEAUVAIS CHIEF LEARNING AND DEVELOP 40.00 X 475995 0 38226 RACHEL MCDONOUGH CONTROLLER 40.00 X 247873 0 35311 KANDRA ROBERTS DIRECTOR OF IMPACT & COMPLIANCE 40.00 X 179573 0 30560 MADISON BROOKE CHIEF OPERATING OFFICER 40.00 X 170195 0 27038 KATHERINE LANE CHIEF PEOPLE OFFICER 40.00 X 220000 0 7140 4101456 0 297530 11 0 1 0 0 12300491 11270852 23571343 LOAN INTEREST & FEES 525990 6072931 6072931 NMTC FEES 525990 3949541 3949541 LOAN INTEREST & FEES 525990 176911 176911 10199383 1310203 1310203 35080929 10199383 0 1310203 83317 83317 2952701 2464620 488081 5990642 5000389 990253 268108 223790 44318 659687 550640 109047 365403 305002 60401 37776 31532 6244 116472 97219 19253 70425 70425 368741 356050 12691 371652 371652 180422 150598 29824 654267 546117 108150 441466 368492 72974 595958 497446 98512 760016 760016 360674 301055 59619 150630 125731 24899 LOAN LOSS PROVISION 3819322 3819322 STAFF DEVELOPMENT 587229 490160 97069 LOAN EXPENSE 175266 175266 REPAIRS & MAINTENANCE 26915 22466 4449 36929 30907 6022 19074018 16842212 2231806 0 343800 168502 34253960 50698272 893941 1663969 70545124 93025182 40454 94738 4951778 3001836 2191256 1949942 39594 37902 384374 320031 108692503 147958538 2293648 4313960 4054165 1778558 29747187 44853302 12683636 21091940 48778636 72037760 X 57100824 73441157 2813043 2479621 59913867 75920778 108692503 147958538 16006911 0 X 0 1 X 1 1 1 X 6675255 5939760 6591235 8762349 23571343 51539942 6675255 5939760 6591235 8762349 23571343 51539942 2435254 49104688 103816 115980 96945 1031270 1310203 2658214 27716 14225 3530 45471 54243627 52434457 0.90530 0.82420 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER - 2020 AMOUNT: $ 27,716. 2021 AMOUNT: $ 14,225. 2022 AMOUNT: $ 3,530. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 70425 70425 18936947 19007372 1000000 250000 0 0 671950 640882 822265 1000000 3135097 4702646 23757 23079 24900 70425 142161 167988 160221 205566 250000 783775 1175663 SCHEDULE C, PART II-A MOFI'S LOBBYING EXPENSE IS FOR MEMBERSHIP DUES TO INDUSTRY COALITIONS THAT ENSURE THAT IMPACT DATA FROM KEY FEDERAL PROGRAMS BY THE U.S. SMALL BUSINESS ADMINISTRATION, UNITED STATES DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT, THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, AND HEALTH AND HUMAN SERVICES ARE SHARED WITH MEMBERS OF THE US SENATE AND HOUSE OF REPRESENTATIVES. 300000 300000 2514536 1248042 1266494 1841482 1534790 306692 295760 219004 76756 1949942 DUE TO OTHER AGENCIES 21091940 21091940 X 35080929 0 35080929 0 35080929 19074018 0 19074018 0 19074018 PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE MOFI AND HAS CONCLUDED THAT, AS OF DECEMBER 31 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MOFI IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL TAX AUTHORITIES FOR YEARS BEFORE 2021. X X X X X X 1 LINK CONSULTING LLC 229 E MAIN ST MISSOULA MT 59802 GRANT WRITING 0 1655000 46863 1608137 BLUESTEM CONSULTING INC 60 HILLSIDE DR BUFFALO WY 82834 GRANT WRITING 0 293107 16900 276207 POLICY & MANAGEMENT ASSOCIATES INC 89 SCHOOL STREET SUITE TWO CHARLESTOWN MA 02129 GRANT WRITING 0 49872 18750 31122 1997979 82513 1915466 CO IA ID MN MT ND NE NV OR SD UT WA WY 1 UTAH STATE UNIVERSITY 1445 OLD MAIN HILL LOGAN UT 84322 876000528 501(C)(3) 70000 0 PROJECT SUPPORT 1 PART I, LINE 2: MONTANA COMMUNITY DEVELOPMENT CORPORATION (DBA "MOFI") PROVIDES PROFESSIONAL ASSISTANCE GRANTS TO ITS BORROWERS FOR PROFESSIONAL SERVICES THROUGH LEGAL, ACCOUNTING AND MARKETING GRANTS. MOFI RECEIVES REPORTING FROM THE GRANTEE TO MONITOR THE USE OF PROCEEDS ON ITS GRANTS. X 1 1 X X X 1 0 0 0 0 1 0 1 0 HEIDI DEARMENT PRESIDENT & CEO (FROM 2/24) 419235 0 413722 0 3345 0 13800 0 28241 0 878343 0 0 0 GREG ASTLE CFO 303394 0 293701 0 1200 0 9370 0 16223 0 623888 0 0 0 BEN WRIGHT VICE PRESIDENT (FROM 11/24) 246823 0 243766 0 1200 0 10172 0 24641 0 526602 0 0 0 BETSY BEAUVAIS CHIEF LEARNING AND DEVELOP 253040 0 221755 0 1200 0 10485 0 27741 0 514221 0 0 0 DAVID GLASER OUTGOING PRESIDENT (THROUGH 5/24) 174843 0 0 0 279929 0 7089 0 7022 0 468883 0 0 0 RACHEL MCDONOUGH CONTROLLER 204873 0 41800 0 1200 0 8570 0 26741 0 283184 0 0 0 ALYSSA PETERMAN CHIEF SALES OFFICER 109249 0 102272 0 5772 0 4437 0 15580 0 237310 0 0 0 LEAH KNICKERBOCKER CHIEF LENDING OFFICER 181008 0 27161 0 1200 0 7100 0 15580 0 232049 0 0 0 KATHERINE LANE CHIEF PEOPLE OFFICER 73333 0 0 0 146667 0 0 0 7140 0 227140 0 0 0 KANDRA ROBERTS DIRECTOR OF IMPACT & COMPLIANCE 163696 0 14745 0 1132 0 6699 0 23861 0 210133 0 0 0 MADISON BROOKE CHIEF OPERATING OFFICER 158114 0 10936 0 1145 0 667 0 26371 0 197233 0 0 0 PART I, LINE 1A MOFI PROVIDES A BENEFIT FOR ALL EMPLOYEES TO PAY GYM MEMBERSHIP DUES. THESE DUES ARE TREATED AS TAXABLE INCOME. THESE AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B(III) AND INCLUDED IN THE INDIVIDUALS 2024 W-2S. PART I, LINE 4A DAVE GLASER (OUTGOING PRESIDENT) RECEIVED SEVERANCE PAYMENTS OF $248,105.34. KATHERINE LANE (CHIEF PEOPLE OFFICER) RECEIVED SEVERANCE PAYMENTS OF $146,667. PART I, LINE 6 IN 2022, MOFI ESTABLISHED AN EXECUTIVE BONUS PLAN. PART I, LINE 7 INCLUDED IN SCHEDULE J, PART I COLUMN B(II) ARE AMOUNTS REPRESENTING BONUSES. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUALS 2024 W-2 AND APPROVED BY THE BOARD AND/OR PRESIDENT. JOHN DEARMENT FAMILY MEMBER OF HEIDI DEARMENT (OFFICER) 56188 CONSULTING AND GRANT WRITING SERVICES 0 CHANTEL NAYLOR FAMILY MEMBER OF GREG ASTLE (OFFICER) 26906 MARKETING SERVICES 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE REVIEWS THE FORM 990 ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C BOARD AND STAFF ANNOUNCE POTENTIAL CONFLICTS OF INTEREST AT APPROPRIATE MEETINGS (LOAN COMMITTEE & BOARD MEETINGS) AS WELL AS ANNUALLY DISCLOSING CONFLICTS ON OUR CONFLICT OF INTEREST FORMS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DETERMINES COMPENSATION FOR ALL MANAGEMENT STAFF AND FOR THE MAJORITY OF THE OTHER STAFF MEMBERS BY CONDUCTING STAFF AND POSITION SPECIFIC SALARY SURVEYS, INDUSTRY INTERVIEWS, AND REVIEWS OF 990'S FOR INDUSTRY AND OTHER PEER ORGANIZATIONS. THE CEO'S COMPENSATION IS ESTABLISHED ANNUALLY BY THE EXECUTIVE COMMITTEE BASED ON THE SURVEY RESULTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. MOFI LENDING LLC 229 E MAIN ST MISSOULA MT 59802 275489113 LENDING MT 1264658 2514722 ARAPAHO SUB CDE LLC 229 EAST MAIN ST MISSOULA MT 59802 300949005 PROVIDE INV CAP. 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