2016-11-11T10:03:26-06:00 2015-12-31 221478099 COHNREZNICK LLP 4 Becker Farm Road Roseland NJ 07068 990 2015-01-01 810500256 MONTANA COMMUNITY DEVELOPMENT CORP MONT 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 David Glaser president 4067289234 2016-11-15 1 THOMAS LANNING P00851654 9732283500 2015 2017-02-10 21:41:12Z Tom McMackin 229 EAST MAIN STREET MISSOULA MT 59802 6466177 0 X WWW.MTCDC.ORG X 1995 MT TO PROVIDE BUSINESS FINANCING THAT CAN TRANSFORM THE LIVES OF INDIVIDUALS AND STRENGTHEN COMMUNITY PROSPERITY. 12 11 38 35 0 0 4240392 1769572 5294588 4626238 38401 52433 0 17934 9573381 6466177 0 33171 0 0 2054923 2400347 0 0 0 1789552 1909348 3844475 4342866 5728906 2123311 33419833 33989298 13029053 11475207 20390780 22514091 X MCDC PARTNERS WITH PEOPLE AND COMMUNITIES THAT WANT TO PROSPER, PROVIDING INNOVATIVE FINANCING AND BUSINESS DEVELOPMENT PRODUCTS THAT CREATE INCOME OPPORTUNITIES FOR ALL MEMBERS OF OUR COMMUNITY. OUR ROLE IS TO FOSTER A RESILIENT ECONOMY THAT IS BUILT ON THE INHERENT STRENGTHS OF THE PEOPLE AND THE PLACE WHERE WE LIVE. SINCE 1989, MONTANA CDC HAS SERVED HUNDREDS OF ENTREPRENEURS WITH LOANS, CONSULTING AND TRAINING. THE BUSINESSES OUR CLIENTS CREATE HELP SUSTAIN THEIR LOCAL COMMUNITIES AND PROVIDE JOBS IN MONTANA AND IDAHO. IN ADDITION TO OUR CONSULTING AND REVOLVING LOAN FUND SERVICES, MONTANA CDC IS A COMMUNITY DEVELOPMENT ENTITY (CDE) AND ELIGIBLE TO MAKE NEW MARKET TAX CREDIT ENHANCED LOANS THROUGH LIMITED LIABILITY COMPANIES IN WHICH MONTANA CDC IS THE MANAGING MEMBER. THESE ENTITYS MISSIONS ARE TO PROVIDE LOANS TO QUALIFIED BUSINESSES IN LOW-INCOME COMMUNITIES. OUR PRIMARY SERVICE AREAS ARE THE STATES OF MONTANA AND IDAHO. MONTANA CDC IS AN EQUAL OPPORTUNITY LENDER AND EMPLOYER. 0 0 2509637 4368960 BUSINESS LOANS: PROVIDES DIRECT LOAN FUNDS AND RELATED SERVICES TOBORROWERS AND LOAN APPLICANTS. THESE FUNDS ARE USED FOR LOANS TOSMALL AND MICRO-BUSINESSES FROM PROCEEDS OF LOANS AND GRANTS FROMTHE MONTANA DEPARTMENT OF COMMERCE, THE SMALL BUSINESSADMINISTRATION(SBA), UNITED STATES DEPARTMENT OF TREASURY, UNITEDSTATES DEPARTMENT OF AGRICULTURE, UNITED STATES DEPARTMENT OFCOMMERCE, LOCAL GOVERNMENTS, AND PRIVATE ORGANIZATIONS. LENDINGRELATED TECHNICAL ASSISTANCE IS FUNDED BY GRANTS AND LOANEARNINGS. 536428 33171 275212 BUSINESS CONSULTING AND SPECIAL PROJECTS: STATE, FEDERAL, ANDPRIVATE CONTRACT AND GRANT PROGRAMS PROVIDE TECHNICAL ASSISTANCETO SMALL BUSINESSES. THIS PROGRAM'S GOAL IS TO BUILD MANAGEMENTCAPACITY AMONG ENTREPRENEURS. 3046065 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 20 0 1 38 1 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 1 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X RICK ENEAS 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 Bruce Bugbee vice-chair 1.00 X X 0 0 0 Craig Birgenheier Treasurer 1.00 X X 0 0 0 DAVE BURNER secretary 1.00 X X 0 0 0 David Glaser President 40.00 X X 238899 0 21987 KORI GREEN DIRECTOR 1.00 X 0 0 0 Mary Stranahan outgoing director 1.00 X 0 0 0 MINETTE JESSUP DIRECTOR 1.00 X X 0 0 0 Nicholas Babson outgoing secretary 1.00 X X 0 0 0 Nicole Hagerman Miller chairperson/diRECTOR 1.00 X X 0 0 0 PRI FERNANDO DIRECTOR 1.00 X 0 0 0 SARA SMITH DIRECTOR 1.00 X 0 0 0 Tim Christensen DIRECTOR 1.00 X 0 0 0 Tina Begay DIRECTOR 1.00 X 0 0 0 Tom McMakin chairperson 1.00 X X 0 0 0 RICK ENEAS CONTROLLER 40.00 X 114726 0 8661 HEIDI DEARMENT VICE PRESIDENT 40.00 X 241835 0 15188 SARAH FITZGERALD DIRECTOR OF LENDING 40.00 X 129169 0 9404 724629 0 55240 4 0 1 0 ALTER ENTERPRISES 107 S Easy St MISSOULA MT 59802 IT Services 347720 JACKSON CONTRACTOR GROUP INC PO BoX 967 MISSOULA MT 59806 Contracting Services 158395 2 1624422 145150 1769572 NMTC FEES 900099 3045208 3045208 LOAN INTEREST 525990 1136484 1136484 LOAN FEES 525990 187268 187268 SBA TA CONTRACT REVENU 900099 133666 133666 SBDC CONTRACT REVENUE 900099 119415 119415 4197 4197 4626238 52433 52433 Other Revenue 900099 17934 17934 17934 6466177 4644172 0 52433 33171 33171 384273 283103 101170 1718809 1266289 452520 29366 21635 7731 102972 78766 24206 164927 118602 46325 23609 12171 11438 64932 25973 38959 25900 25900 135381 91931 43450 60450 60450 66060 50206 15854 309066 160921 148145 108563 108563 224999 130741 94258 288526 288526 227333 172773 54560 STAFF DEVELOPMENT 137635 79976 57659 LOAN LOSS PROVISION 102893 102893 LOAN EXPENSE 67938 67938 OTHER EXPENSES 66063 66063 4342866 3046065 1296801 0 2895615 1318109 12011990 10454370 123000 35000 203270 557355 16073936 19606360 20855 15475 2592023 618142 1920407 1973881 25790 28748 144970 0 33419833 33989298 386469 319563 11987051 10842925 655533 312719 13029053 11475207 X 16367178 18189443 2705442 2983227 1318160 1341421 20390780 22514091 33419833 33989298 2123311 0 X X 0 1 X 1 1 1 X 3767978 2986162 1828344 4240392 1769572 14592448 3767978 2986162 1828344 4240392 1769572 14592448 14592448 38047 37312 30108 38401 52433 196301 6316 18676 17934 42926 14831675 18357618 0.98390 0.98810 X Schedule A, Part II, Line 10, Explanation of Other Income: other - 2011 Amount: $ 6,316. 2012 Amount: $ 18,676. 2015 Amount: $ 17,934. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25900 25900 3012894 3038794 301940 75485 0 0 338781 336654 314018 301940 1291393 1937090 17000 16000 13900 25900 72800 84695 84164 78505 75485 322849 484274 300000 300000 900000 64500 835500 450352 75914 374438 941671 477728 463943 1973881 DUE TO OTHER AGENCIES 312719 312719 X 6466177 0 6466177 0 6466177 4342866 0 4342866 0 4342866 Part X, Line 2: Montana CDC is required to file and does file tax returns with the IRS and the state of Montana. TMF was treated as a partnership for income tax purposes. Taxable income or loss of this affiliate was wholly allocated to Montana CDC as the sole member, and no taxes were provided in the accompanying consolidated financial statements. Since Montana CDC is exempt from income tax, the taxable income or loss of TMF was generally not subject to tax. Montana CDC has also elected to be governed by Section 501(h) of the Internal Revenue Code. Section 501(h) limits Montana CDC's lobbying expenditures to spending ceilings based on a percentage of Montana CDC's total exempt purpose expenditures with a maximum of $1 million dollars per year. Montana CDC and TMF are no longer subject to examinations by federal tax authorities for years before 2012. TMF is no longer subject to examinations by state tax authorities for years before 2010. 1 Staged Homes 6353 Support acquisition of additional financing for construction. 1 Part I, Line 2: grants to organizations are used to support our client's success. The Asset Management/Consulting team oversees the grant process and deploys them as deemed necessary and useful to help our client's succeed. The grants are tracked in our accounting system and via spreadsheet and comparisons between the estimated grant amount and actual amount are completed periodically. X 1 1 X X X 0 0 0 0 0 0 0 1 0 David Glaser President 152848 0 85000 0 1051 0 9450 0 12537 0 260886 0 0 0 HEIDI DEARMENT VICE PRESIDENT 156835 0 85000 0 0 0 9450 0 5738 0 257023 0 0 0 Part I, Line 1a Montana CDC provides a benefit for all employees where it will pay gym membership dues. The payment of these dues are treated as taxable income. these amounts are included on schedule j, part ii, column b(iii) and included in the individuals 2015 w-2s. Part I, Line 7 Amounts in column b(ii) represents bonus payments. These amounts were approved by the board and included in the individuals' W-2's Form 990, Part VI, Section A, line 4 in june 2015 the organziations amended its by-laws to change the number of directors from five to nine, and to reflect the procedural changes related to having membership and how membership interacts with the organization. Form 990, Part VI, Section A, line 6 the organization has members made up of community members as approved by the Board of Directors. Form 990, Part VI, Section B, line 11 THE FINANCE COMMITTEE REVIEWS THE FORM 990 BEFORE IT IS FILED WITH THE IRS. 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 process involves reviewing a compensation study that was prepared in 2012 and adjusting for inflation, as well as Form 990's for industry peers. In addition, the CEO/President and CFO/Vice-President have their compensation approved by our board's executive committee. the CEO compensation is also determined through the use of a 360-degree approach annually. The compensation study is a starting point and is verified for reasonableness through informal conversations with industry peers. Form 990, Part VI, Section C, line 19 THE ORGANIZATION makes all governing documents, conflict of interest policies and financial statements AVAILABLE UPON REQUEST. Form 990, Part XII, Line 2c: The organization has a committee that assumes responsibility for overview of audit, review or compilation of its financial statements and selection of independent contractors THE MONTANA FUND 229 EAST MAIN STREET MISSOULA MT 59802 201112499 FINANCING MT 0 0 MONTANA CDC BKBH SUB-CDE 229 EAST MAIN ST MISSOULA MT 59802 263717995 PROVIDE INV C MT N/A related 33 741 0 1 0.00010 BLOCK G SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 454982797 PROVIDE INV C MT N/A related 31 1349 0 1 0.00010 BULLHOOK SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 275489465 PROVIDE INV C MT N/A related 3 726 0 1 0.00010 BUTTE SEARS SUB-CDE 229 EAST MAIN ST MISSOULA MT 59802 263717725 PROVIDE INV C MT N/A related 27 831 0 1 0.00010 FORT PECK SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 462808746 PROVIDE INV C MT N/A RELATED 3 739 0 1 0.00010 GVN SUB CDE LLC 229 EAST MAIN ST MISSOULA MT 59802 454982921 PROVIDE INV C MT N/A RELATED 34 1585 0 1 0.00010 Last Chance BlocK 229 EAST MAIN ST MISSOULA MT 59802 275489253 PROVIDE INV C MT N/A related 20 755 0 1 0.00010 MCM SUB CDE-1 229 EAST MAIN St MISSOULA MT 59802 263716954 PROVIDE INV C MT N/A related 60 1367 0 1 0.00010 MVA SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 263718189 PROVIDE INV C MT N/A related 3 591 0 1 0.00010 NWE SUB CDE LLC 229 EAST MAIN ST MISSOULA MT 59802 454982835 PROVIDE INV C MT N/A RELATED 14 2776 0 1 0.00010 ONE Sub-CDE 229 EAST MAIN ST MISSOULA MT 59802 263718130 PROVIDE INV C MT N/A related 31 0 770 1 0.00010 Parkwood-Kootenai 229 EAST MAIN ST MISSOULA MT 59802 275488965 PROVIDE INV C MT N/A related 19 1120 0 1 0.00010 PEAK HEALTH CDE 1 229 EAST MAIN ST MISSOULA MT 59802 263717924 PROVIDE INV C MT N/A related 12 460 0 1 0.00010 PEAK HEALTH CDE 2 229 EAST MAIN ST MISSOULA MT 59802 263717971 PROVIDE INV C MT N/A related 12 460 0 1 0.00010 POV SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 263718169 PROVIDE INV C MT N/A related 2 587 0 1 0.00010 SHOW ME SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 462808746 PROVIDE INV C MT N/A RELATED 15 1135 0 1 0.00010 STINGER WELDING 229 EAST MAIN ST MISSOULA MT 59802 263718031 PROVIDE INV C MT N/A related 7 1670 0 1 0.00010 TARGHEE SUB CDE 229 EAST MAIN ST MISSOULA MT 59802 454982894 PROVIDE INV C MT N/A RELATED 12 1282 0 1 0.00010 TOWN & COUNTRY CDE 229 EAST MAIN ST MISSOULA MT 59802 263717311 PROVIDE INV C MT N/A related 35 41 0 1 0.00010 WESTERN STATES SUB 229 EAST MAIN ST MISSOULA MT 59802 462835725 PROVIDE INV C MT N/A RELATED 7 2091 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0