2016-08-01T13:33:43-05:00 2013-12-31 221478099 COHNREZNICK LLP 4 BECKER FARM ROAD ROSELAND NJ 07068 990 2013-01-01 810500256 MONTANA COMMUNITY DEVELOPMENT CORP MONT 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 DAVE GLASER CHAIRPERSON 4067289234 2016-07-26 1 THOMAS LANNING P00851654 9732283500 2013 2016-12-15 16:53:06Z X NICHOLAS BABSON 229 EAST MAIN STREET MISSOULA MT 59802 5746752 0 X WWW.MTCDC.ORG X 1995 MT TO PROVIDE BUSINESS FINANCING THAT CAN TRANSFORM THE LIVES OF INDIVIDUALS AND STRENGTHEN COMMUNITY PROSPERITY. 11 10 34 28 0 0 2986162 1828344 2779998 3888300 37312 30108 18676 0 5822148 5746752 29715 92820 0 0 1415397 1775037 0 0 0 2330511 1865214 3775623 3733071 2046525 2013681 22871707 27907348 10223514 13245474 12648193 14661874 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 ENTITY'S 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 2218600 92820 3636796 BUSINESS LOANS: PROVIDES DIRECT LOAN FUNDS AND RELATED SERVICES TO BORROWERS AND LOAN APPLICANTS. THESE FUNDS ARE USED FOR LOANS TO SMALL AND MICRO-BUSINESSES FROM PROCEEDS OF LOANS AND GRANTS FROM THE MONTANA DEPARTMENT OF COMMERCE, THE SMALL BUSINESS ADMINISTRATION(SBA), UNITED STATES DEPARTMENT OF TREASURY, UNITED STATES DEPARTMENT OF AGRICULTURE, LOCAL GOVERNMENTS, AND PRIVATE ORGANIZATIONS. LENDING RELATED TECHNICAL ASSISTANCE IS FUNDED BY GRANTS AND LOAN EARNINGS. 436443 251504 BUSINESS CONSULTING AND SPECIAL PROJECTS: STATE, FEDERAL, AND PRIVATE CONTRACT AND GRANT PROGRAMS PROVIDE TECHNICAL ASSISTANCE TO SMALL BUSINESSES. THIS PROGRAM'S GOAL IS TO BUILD MANAGEMENT CAPACITY AMONG ENTREPRENEURS IN MONTANA. 2655043 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 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 1 1 0 0 1 45 0 1 34 1 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 1 1 X LUKE FRANSON 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 NICHOLAS BABSON CHAIRPERSON 1.00 X X 0 0 0 NICOLE HAGERMAN MILLER VICE CHAIRPERSON 1.00 X X 0 0 0 TINA BEGAY DIRECTOR 1.00 X 0 0 0 JENNIFER KNOETGEN DIRECTOR 1.00 X 0 0 0 CRAIG BIRGENHEIER TREASURER 1.00 X X 0 0 0 COLLEEN RUDIO SECRETARY 2.00 X X 0 0 0 BRUCE BUGBEE DIRECTOR 1.00 X 0 0 0 MARY STRANAHAN DIRECTOR 1.00 X 0 0 0 TIM CHRISTENSEN DIRECTOR 1.00 X 0 0 0 DAVE GLASER PRESIDENT 40.00 X X 171520 0 9073 TOM MCMAKIN DIRECTOR 1.00 X 0 0 0 HEIDI DEARMENT VICE PRESIDENT 40.00 X 166819 0 7315 SARAH FITZGERALD DIRECTOR OF LENDING 40.00 X 99046 0 5023 MICA LINDSEY DIRECTOR OF COMPLIANCE 40.00 X 80197 0 5587 STEVE KLIMKIEWICZ CHIEF FINANCIAL OFFICER 40.00 X 78994 0 8203 596576 0 35201 2 0 1 0 SNR DENTON US LLP 233 SOUTH WACKER DRIVE SUITE 7800 CHICAGO IL 606066306 LEGAL SERVICES 122927 1 1361871 466473 1828344 NMTC FEES 900099 2480515 2480515 LOAN INTEREST 525990 1026060 1026060 P-TAC CONTRACT REVENUE 900099 133449 133449 LOAN FEES 525990 119366 119366 SBDC CONTRACT REVENUE 900099 118055 118055 10855 10855 3888300 30108 30108 5746752 3888300 0 30108 92820 92820 631777 452922 178855 895775 642181 253594 118874 78322 40552 128611 95088 33523 41228 16626 24602 75659 75659 16000 16000 50261 30009 20252 39107 39107 67088 67088 36389 36389 81141 81141 152811 136215 16596 259267 239250 20017 103186 103186 16811 16811 LOAN LOSS EXPENSE 356831 356831 LOAN EXPENSE 255379 254096 1283 LOAN LOSS PROVISION 194132 194132 OTHER EXPENSES 44066 7849 36217 75858 19595 56263 3733071 2655043 1078028 0 1288149 1864613 5893564 8793039 267666 203000 266730 328447 13387447 14768603 10000 10000 2008060 236672 1670185 1771388 36045 36332 51921 131926 22871707 27907348 136116 339028 9353289 12328285 734109 578161 10223514 13245474 X 10034077 12004162 2523763 2567359 90353 90353 12648193 14661874 22871707 27907348 2013681 0 X X 0 1 X 1 1 1 X 180 993404 3767978 2986162 1828344 9576068 180 993404 3767978 2986162 1828344 9576068 9576068 41016 23003 38047 37312 30108 169486 9745554 10748994 0.98260 0.97150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16000 16000 3717071 3733071 336654 84164 0 0 183331 295634 338781 336654 1154400 1731600 4500 12000 17000 16000 49500 45833 73909 84695 84164 288601 432902 300000 300000 900000 28500 871500 289957 26628 263329 518103 181544 336559 1771388 ADVANCE NORTHWEST AREA FOUNDATION 18799 DUE TO OTHER AGENCIES 559362 578161 1 POVERELLO CENTER 535 RYMAN STREET MISSOULA MT 59802 263718169 501(C)(3) 50000 BOOK SUPPORT ACQUISITION OF FINANCING 1 PART I, LINE 2: BUSINESS ADVISORS WORK CLOSELY WITH THE GRANT RECIPIENTS ON USE OF FUNDS THEY WILL BE IN CONTACT WITH THE CLIENTS EVERY THREE WEEKS OR SO ON PROGRESS. ALL USE OF FUNDS HAVE TO BE APPROVED BEFORE RECIPIENTS ACTUALLY SPEND THE MONEY. X 1 1 X 0 0 0 0 0 0 0 0 0 DAVE GLASER PRESIDENT 171520 0 0 0 0 0 3300 0 5773 0 180593 0 0 0 HEIDI DEARMENT VICE PRESIDENT 166819 0 0 0 0 0 3330 0 4015 0 174164 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 WITH LISTED PERSONS DAVE GLASER AND SARAH FITZGERALD USING THIS BENEFIT. FORM 990, PART VI, SECTION A, LINE 4 IN NOVEMBER 2013 THE ORGANIZATION UPDATED ITS ORGANIZING DOCUMENTS. THE FOLLOWING CHANGES WERE MADE TO THE ARTICLES OF INCORPORATION: - THE ORGANIZATION WILL NOW HAVE MEMBERS - THE PURPOSE OF THE ORGANIZATION WAS EXPANDED TO INCLUDE: - TO IMPROVE THE ECONOMY OF THE NORTHERN ROCKIES REGION AND SUSTAIN ITS COMMUNITIES BY PROVIDING BUSINESS ASSISTANCE SERVICES FOR THE PURPOSE OF SUSTAINING COMMUNITIES INCLUDING: - ENTREPRENEURIAL TRAININGS AND TECHNICAL ASSISTANCE - LOANS TARGETING LOW INCOME ENTREPRENEURS AND - PROGRAMS WHICH CREATE JOBS WHICH PROVIDE AS ADEQUATE AND EQUITABLE STANDARD OF LIVING FOR WOMEN AND LOW INCOME PEOPLE AND - THE PROMOTION, GROWTH AND DEVELOPMENT OF INDUSTRIAL AGRICULTURAL, RECREATIONAL, AND COMMERCIAL BUSINESS CONCERNS, INCLUDING SMALL BUSINESSES WITHIN THE NORTHERN ROCKIES REGION THROUGH THE UNITED EFFORTS OF GOVERNMENTAL ENTITIES, INSTITUTIONS, CORPORATIONS, FOUNDATION AND INDIVIDUALS. PRIMARY BENEFITS OF THIS CORPORATION SHALL INURE TO THE UNEMPLOYED, UNDERPRIVILEGED, AND MINORITY RESIDENTS AND GROUPS OF THE DESIGNATED SERVICE AREA AS MEASURED IN TERMS OF INCREASED EMPLOYMENT, NEW JOB GROUPS, DEVELOPMENT, PAYROLL, BUSINESS VOLUME AND OTHER CORRESPONDING FACTORS, INCLUDING QUALITY OF LIFE - TO PROMOTE NEW PRIVATE SECTOR JOBS OF UNEMPLOYED, UNDEREMPLOYED, UNDERPRIVILEGED, AND MINORITY RESIDENTS AND GROUPS WITHIN THE DESIGNATED SERVICE AREA AND PROVIDE SPECIFIC JOB SKILL TRAINING FOR SAID RESIDENTS AND GROUPS - TO EXPAND THE JOB OPPORTUNITIES AVAILABLE TO SAID RESIDENTS AND GROUPS WITHIN THE SERVICE AREA BY FURTHERING THE DEVELOPMENT OF LOCALLY OWNED OR OPERATED BUSINESS ENTERPRISES IN ECONOMICALLY UNDERDEVELOPED, UNDERPRIVILEGED, OR DEPRESSED AREAS WITHIN THE DESIGNATED SERVICE AREA - TO ASSIST IN THE CREATION OF NEW JOB OPPORTUNITIES DIRECTLY OR IN COOPERATION WITH INDIVIDUAL CORPORATIONS, FOUNDATIONS, UNIVERSITIES, GOVERNMENTAL AGENCIES OR OTHER ORGANIZATIONS WITHIN OR OUTSIDE THE SERVICE AREA IN RESEARCHING, DESIGNING, DEVELOPING, TESTING OR OTHERWISE COMMERCIALIZING NEW OR APPLIED TECHNOLOGY PRODUCTS AND PROCESSES TO RAISE THE ECONOMIC AND SOCIAL LEVEL OF SAID RESIDENTS AND GROUPS OF THE SERVICE AREA AND OTHER UNDERPRIVILEGED GROUPS WHICH HAVE SUBSTANTIAL UNEMPLOYMENT, UNDEREMPLOYMENT, MINORITY OR LOW-INCOME FAMILIES - TO ASSIST SAID RESIDENTS, GROUPS AND BUSINESSES IN DEVELOPING ENTREPRENEURIAL AND MANAGEMENT SKILLS NECESSARY FOR THE SUCCESSFUL OPERATION OF BUSINESS ENTERPRISES THAT WILL CREATE NEW JOBS WITHIN THE DESIGNATED SERVICE AREA - TO PROVIDE AID IN OBTAINING FINANCIAL SUPPORT OR FINANCING FOR THE SUCCESSFUL CREATION OF NEW AND EXPANDING JOB OPPORTUNITIES WITHIN THE SERVICE AREA AND THE CREATION AND EXPANSION OF BUSINESS ENTERPRISES TO RAISE THE ECONOMIC AND SOCIAL LEVEL OF THE SAID RESIDENTS, GROUPS AND BUSINESSES AND - TO PROVIDE TO CONSUMERS, COMMERCIAL AND RESIDENTIAL BORROWERS WHO ARE UNABLE TO PROCURE FINANCING FROM CONVENTIONAL SOURCES, FINANCING TO ENABLE SUCH INDIVIDUALS AND BUSINESSES TO RESPONSIBLY PARTICIPATE IN AND ACCESS FINANCING AND CRITICALLY NEEDED CAPITAL 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 C, LINE 19 THE ORGANIZATION'S TAX RETURN IS AVAILABLE UPON REQUEST. MCDC POSTS A MESSAGE ON ITS WEBSITE THAT DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT. FORM 990, AMENDED: FORM 990 WAS AMENDED TO RELFECT CERTAIN CHANGES AS FOLLOWS: - PART III: GRANTS OF 92,820 WERE ADDED TO LINE 4A - PART VI: QUESTION 4 REGARDING CHANGES TO ORGANIZATION DOCUMENTS WAS ANSWERED YES AND THE NECESSARY FOOTNOTE WAS ADDED TO SCHEDULE O - PART VII: BOARD MEMBERS WHO HELD POSITIONS WITH THE ORGANIZATION WERE CHECKED OFF AS OFFICERS AND TRUSTEES - PART VII: AVERAGE HOURS WERE ADDED FOR THE CHAIRPERSON - SCHEDULE O: A FOOTNOTE WAS ADDED REGARDING THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT - SCHEDULE I: IRC SECTION WAS ADDED FOR THE ORGANIZATION THAT RECEIVED A GRANT FROM MONTANA CDC AND - SCHEDULE I: PART II, LINE 2 WAS CHANGED TO 1. 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