Overview
What is Montana Community Development Corp?
Montana Community Development Corp, operating under the name MOFI, is a 501(C)(3) nonprofit organization based in Missoula, Montana. Established in 1986, MOFI functions as a Community Development Financial Institution (CDFI) and New Markets Tax Credit (NMTC) lender. With a mission to transform lives and communities, MOFI offers financing and free consulting services to individuals who have been excluded from traditional financial avenues. MOFI's primary lending programs focus on providing loans to small and microbusinesses unable to secure conventional financing and on NMTC enhanced loans to catalytic projects that create jobs, deliver essential community services, and stimulate economies in underprivileged areas within the Rocky Mountain West region.
Official website here: www.mofi.org
Is Montana Community Development Corp legitimate?
Montana Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montana Community Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,489,825
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,211,034
For more financial information, click here
Official website here: www.mofi.org
What is the mission statement of Montana Community Development Corp?
Montana Community Development Corporation, also known as MOFI, is a nonprofit organization with a mission to provide financing and consulting services that transform lives and communities. Established in 1986, this 501(c)(3) organization functions as a Community Development Financial Institution (CDFI) and New Markets Tax Credit (NMTC) lender. MOFI aims to broaden the financial system's reach to individuals who have been excluded from the mainstream. With two primary lending programs, MOFI extends loans to small and microbusinesses that struggle to secure conventional financing and enhances loans for catalytic projects that generate jobs, offer essential community services, and rejuvenate economies in underprivileged areas. MOFI's objective is to transform the financial landscape, ensuring equitable access to capital and resources for all.
Official website here: www.mofi.org
Who is the CEO of Montana Community Development Corp?
Nancy Quist is the Chairperson of Montana Community Development Corp.
Official website here: www.mofi.org
What is the revenue of Montana Community Development Corp?
Montana Community Development Corp's revenue in 2022 was $20,160,998.
Official website here: www.mofi.org
Who are the executives of Montana Community Development Corp and what are their salaries?
The average compensation at Montana Community Development Corp during 2022 was $139,045. There are 41 employees and 10 volunteers at Montana Community Development Corp.
Here are 18 key members and their salaries:
- Heidi Dearment (Vp & Cfo)
- David Glaser (President) [Trustee/Director]
- Greg Astle (Director Of Tax Credit Len)
- Betsy Beauvais (Director Of Lending)
- Ben Wright (Director Of Operations)
- Rachel Mcdonough (Director Of Finance)
- Leah Knickerbocker (Chief Lending Officer)
- Alyssa Peterman (Business Development Manager)
- Allison Johnston (Director)
- Bob Gauthier (Director)
- Don King (Director)
- Kalli Ryti (Director)
- Lisa Cooper (Director)
- Nancy Quist (Chairperson) [Trustee/Director]
- Natalie Camacho Mendoza (Director)
- Sara Smith (Vice-Chairperson & Treasur) [Trustee/Director]
- Serena Rundberg (Director)
- Tom Serverson (Secretary) [Trustee/Director]
Official website here: www.mofi.org
Where can I find the form 990 for Montana Community Development Corp?
The Montana Community Development Corp’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.mofi.org
Learn more at the official website: www.mofi.org
Mission Statement of Montana Community Development Corp
Montana Community Development Corporation, known as MOFI, is a 501(c)(3) nonprofit organization with a mission to provide financing and consulting services that transform lives and communities. Founded in 1986, this Montana-based organization operates as a Community Development Financial Institution (CDFI) and New Markets Tax Credit (NMTC) lender, offering access to capital and free financial consulting services for individuals who have been excluded from the financial mainstream.
MOFI's vision extends beyond the traditional financial system, aiming to transform it to benefit everyone. The organization's primary lending programs focus on two key areas. First, they provide loans to small and microbusinesses that cannot secure conventional financing. Second, they offer NMTC enhanced loans to catalytic projects that create jobs, provide essential community services, and revitalize economies in the most impoverished areas.
By offering financing and consulting, MOFI enables individuals and communities to overcome financial barriers and build a stronger future. Their work is rooted in the belief that access to capital and expert guidance can lead to lasting change, ultimately improving the lives of those they serve. Through innovative financial solutions, MOFI is dedicated to creating a more equitable financial landscape, one transformation at a time.
Impact
This information is meant to be a general summary of Montana Community Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Montana Community Development Corp, operating as MOFI, has a significant impact on transforming lives and communities in the Rocky Mountain West. By providing access to capital and offering free financial consulting services, MOFI supports individuals and businesses that have been excluded from the traditional financial system. Their work includes lending to small and microbusinesses that struggle to secure conventional financing, as well as providing NMTC enhanced loans for catalytic projects that create jobs, offer essential community services, and revitalize economies in underprivileged areas. Through their efforts, MOFI is actively working towards their vision of making the financial system more inclusive and beneficial for all.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST & FEES - PPP
Revenue
$5,649,288
NMTC FEES
Revenue
$4,412,209
LOAN INTEREST & FEES
Revenue
$3,190,400
LOAN INTEREST & FEES - DOWN PAYME
Revenue
$217,391
Organization Details
Founding Year
1995
Phone
(406) 728-9234
Principal Officer
Nancy Quist
Main Address
229 EAST MAIN STREET, MISSOULA, MT, 59802
Website
www.mofi.org
NTEE Category
Code: S20 - Community improvement
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