2015-11-16T16:19:27-06:00 2014-12-31 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 208146583 990 2014-01-01 810500256 MONTANA COMMUNITY DEVELOPMENT CORP % RICK ENEAS MONT 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 DAVE GLASER PRESIDENT 4067289234 2015-11-15 true ED RYAN CPA P00223815 3016529100 2014 2016-02-25 16:41:14Z NICHOLAS BABSON 229 EAST MAIN STREET MISSOULA MT 59802 9573381 false X WWW.MTCDC.ORG X 1995 MT TO PROVIDE BUSINESS FINANCING THAT CAN TRANSFORM THE LIVES OF INDIVIDUALS AND STRENGTHEN COMMUNITY PROSPERITY. 11 10 36 35 0 1828344 4240392 3888300 5294588 30108 38401 0 0 5746752 9573381 92820 16522 0 0 1775037 2054923 0 0 0 1865214 1773030 3733071 3844475 2013681 5728906 27907348 33419833 13245474 13029053 14661874 20390780 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. false false 2238105 4924357 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, UNITED STATES DEPARTMENT OF COMMERCE, LOCAL GOVERNMENTS, AND PRIVATE ORGANIZATIONS. LENDING RELATED TECHNICAL ASSISTANCE IS FUNDED BY GRANTS AND LOAN EARNINGS. 307821 16522 370231 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. 2545926 true true false true false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false true true true true true false true 29 0 true 36 true false false false false false false false false false false X 11 10 false false false false false false false true true false false false true true true true true false false true true X RICK ENEAS 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 Nicholas Babson SECRETARY 1.0 0.0 X X 0 0 0 Nicole Hagerman Miller Chairperson 1.0 0.0 X X 0 0 0 Tina Begay DIRECTOR 1.0 0.0 X 0 0 0 KORI GREEN DIRECTOR 1.0 0.0 X 0 0 0 Craig Birgenheier Treasurer 1.0 0.0 X X 0 0 0 Bruce Bugbee DIRECTOR 1.0 0.0 X 0 0 0 Mary Stranahan DIRECTOR 1.0 0.0 X 0 0 0 Tim Christensen DIRECTOR 1.0 0.0 X 0 0 0 David Glaser President 40.0 0.0 X X 215443 0 11480 Tom McMakin VICE CHAIRPERSON 1.0 0.0 X X 0 0 0 DAVE BURNER DIRECTOR 1.0 0.0 X 0 0 0 PRI FERNANDO DIRECTOR 1.0 0.0 X 0 0 0 HEIDI DEARMENT VICE PRESIDENT 40.0 0.0 X 215960 0 8294 SARAH FITZGERALD DIRECTOR OF LENDING 40.0 0.0 X 107126 0 5821 MICA LINDSEY DIRECTOR OF COMPLIANCE 40.0 0.0 X 69029 0 5627 NATHAN KENNEDY COO 20.0 0.0 X 19070 0 860 LUKE FRANSON CFO 40.0 0.0 X 62244 0 5094 688872 0 37176 3 false true false NK CONSULTING CONSULTING 105008 ALTER ENTERPRISES 1121 EAST BROADWAY ST STE 101 MISSOULA MT 59802 CONSULTING 192287 2 3874672 365720 4240392 LOAN INTEREST 525990 1108299 1108299 LOAN FEES 525990 124407 124407 NMTC FEES 900099 3080225 3080225 SBDC CONTRACT REVENUE 900099 115722 115722 SBA TA CONTRACT REVENUE 900099 175029 175029 690906 690906 5294588 38401 38401 0 0 0 0 0 0 0 0 0 0 9573381 5294588 38401 16522 16522 0 0 0 726048 518761 207287 0 1038374 741934 296440 0 147267 105223 42044 143234 105239 37995 0 7623 5428 2195 59691 23876 35815 13900 13900 0 0 52622 9825 42797 38075 38075 51031 51031 159776 79888 79888 0 96387 96387 231748 177945 53803 0 0 298045 292330 5715 0 154137 154137 0 LOAN EXPENSE 375054 375054 OTHER EXPENSES 114055 7422 106633 STAFF DEVELOPMENT 113006 48404 64602 MEALS AND ENTERTAINMENT 7880 7880 3844475 2545926 1298549 0 1864613 2895615 8793039 12011990 203000 123000 328447 203270 0 0 0 0 14768603 16073936 0 0 10000 20855 2311216 390809 1771388 1920407 0 0 0 0 36332 25790 0 0 131926 144970 27907348 33419833 339028 386469 0 0 0 0 0 0 0 0 0 0 12328285 11987051 0 0 578161 655533 13245474 13029053 X 12004162 16367178 2567359 2705442 90353 1318160 14661874 20390780 27907348 33419833 X 5728906 X X false true X true true true X 993404 3767978 2986162 1828344 4240392 13816280 0 0 993404 3767978 2986162 1828344 4240392 13816280 0 13816280 23003 38047 37312 30108 38401 166871 0 0 13983151 13699998 0.98807 0.98261 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13900 13900 3266460 3280360 314018 78505 295634 338781 336654 314018 1285087 1927631 12000 17000 16000 13900 58900 73909 84695 84164 78505 321273 481910 300000 300000 900000 46500 853500 450352 46978 403374 660865 297331 363533 1920407 0 DUE TO OTHER AGENCIES 655533 655533 X PART X, QUESTION 2 Montana CDC is exempt from income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2014. Montana CDC is required to file and does file tax returns with the IRS and the state of Montana. TMF is treated as a partnership for income tax purposes. Taxable income or loss of this affiliate is allocated to the members, and no taxes are provided in the accompanying consolidated financial statements. Since Montana CDC is exempt from income tax, its share of the taxable income or loss of TMF is 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 2011. TMF is no longer subject to examinations by state tax authorities for years before 2009. X true true X false false false false false false false false false David Glaser President 215443 0 0 0 0 0 4500 0 6980 0 226923 0 0 0 HEIDI DEARMENT VICE PRESIDENT 215960 0 0 0 0 0 4500 0 3794 0 224254 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 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 18: THE ORGANIZATION'S TAX RETURN IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19: MCDC POSTS A MESSAGE ON ITS WEBSITE THAT DOCUMENTS ARE AVAILABLE UPON REQUEST. 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