2022-11-15T12:28:09-06:00 2021-12-31 450250958 EIDE BAILLY LLP 5929 FASHION POINT DR STE 300 OGDEN UT 844034684 990 2021-01-01 870620659 ROCKY MOUNTAIN COMMUNITY REINVESTMENT CO ROCK 8013660400 64 E WINCHESTER ST STE 330 230 SALT LAKE CITY UT 84107 STEVEN J NIELSEN PRESIDENT AND CEO 8013660400 2022-11-15 1 STEVEN NIELSEN 999009999 CHETT CAMPBELL CPA P01301037 8016211575 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STEVEN J NIELSEN 64 E WINCHESTER ST STE 330 230 SALT LAKE CITY UT 84107 12007635 0 X RMCRC.ORG X 1999 UT ASSISTED UTAH'S RESIDENTS BY FOSTERING THE DEVELOPMENT AND PRESERVATION OF QUALITY HOUSING. 18 18 15 18 0 0 0 341400 9093181 11666235 165 0 0 0 9093346 12007635 0 0 0 0 877780 999358 0 0 62277 7444355 9948518 8322135 10947876 771211 1059759 190630338 241166960 179697759 230355050 10932579 10811910 THE ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION FACILITATES THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING AND COMMUNITY FACILITIES THAT SERVE LOW TO MODERATE INCOME FAMILIES AND UNDERSERVED COMMUNITIES. 0 0 10229382 11666235 THROUGH SUSTAINABLE DIRECT LENDING AND RELATED EFFORTS, THE ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION FACILITATES THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING AND COMMUNITY FACILITIES THAT SERVE LOW TO MODERATE INCOME FAMILIES AND UNDERSERVED COMMUNITIES THROUGHOUT THE ROCKY MOUNTAIN REGION. 10229382 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 15 0 1 15 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 UT X DAVID RIP 8013660400 64 E WINCHESTER ST STE 330 230 SALT LAKE CITY UT 84107 STEPHANIE WHITE CHAIR 1.00 X X 0 0 0 MICHAEL PALMER VICE CHAIR 1.00 X X 0 0 0 JAN BERGESON PAST CHAIR 1.00 X 0 0 0 ALAN URIE BOARD MEMBER 1.00 X 0 0 0 CHRIS PARKER BOARD MEMBER 1.00 X 0 0 0 GREG RICH BOARD MEMBER 1.00 X 0 0 0 JONATHAN HANKS BOARD MEMBER 1.00 X 0 0 0 DEREK TUCKETT BOARD MEMBER 1.00 X 0 0 0 KIRK WEILER BOARD MEMBER 1.00 X 0 0 0 MICHAEL GALLEGOS BOARD MEMBER 1.00 X 0 0 0 REED DIXON BOARD MEMBER 1.00 X 0 0 0 ROBERT LIKES BOARD MEMBER 1.00 X 0 0 0 SAM BENTLEY BOARD MEMBER 1.00 X 0 0 0 SHARLENE WILDE BOARD MEMBER 1.00 X 0 0 0 SPENCER MCALLISTER BOARD MEMBER 1.00 X 0 0 0 STEVE AKERLOW BOARD MEMBER 1.00 X 0 0 0 WILLIAM WHETSTONE BOARD MEMBER 1.00 X 0 0 0 SCOTT SIMONS BOARD MEMBER 1.00 X 0 0 0 STEVEN NIELSEN PRESIDENT & CEO 40.00 X 263276 0 39287 DAVID WATKINS TREASURER & CFO 40.00 X 172758 0 28723 MENDI LEISURE SECRETARY 40.00 X 110655 0 7746 JOHN MONTGOMERY CHIEF RISK OFFICER 40.00 X 154620 0 33290 NICHOLAS BERGER CHIEF LENDING OFFICER 40.00 X 248730 0 35513 NATASHA PFEIFFER LOAN OFFICER 40.00 X 174300 0 12201 1124339 0 156760 6 0 1 0 0 341400 341400 INTEREST INCOME FROM LOANS 900099 11262912 11262912 LOAN ADMINISTRATION 900099 390251 390251 NET SERVICING REVENUE 900099 10479 10479 OTHER LOAN REVENUE 900099 2593 2593 11666235 12007635 11666235 0 0 605511 321443 284068 117800 62536 55264 76196 40450 35746 109861 58321 51540 89990 47772 42218 142813 88545 28562 25706 146506 90834 33396 22276 76710 47560 25255 3895 41834 25937 15897 105751 65566 40185 31050 19251 7078 4721 8857152 8857152 44922 27852 17070 30065 18640 11425 LOAN ADMINISTRATION COS 417942 417942 BANK FEES 35874 22242 8177 5455 SERVICING/AGENT FEES 16425 16425 TRAINING 1474 914 336 224 10947876 10229382 656217 62277 1514763 2203 195692 174496 188869743 239523744 7702 5243 265915 55388 19804 210527 22634 1250747 190630338 241166960 2725624 3532215 170065721 223195039 6906414 3627796 179697759 230355050 X 10932579 10811910 10932579 10811910 190630338 241166960 X 1059759 -1180428 X 0 1 X 1 0 X 341400 341400 6806673 7792230 8194786 9093181 11666235 43553105 6806673 7792230 8194786 9093181 12007635 43894505 0 0 0 43894505 935 1462 1146 165 3708 935 1462 1146 165 3708 6807608 7793692 8195932 9093346 12007635 43898213 0.99990 0.99980 0.00010 0.00020 X 103395 103395 162520 55388 107132 210527 LINE OF CREDIT 3341283 OPERATING LEASE LIABILITY 286513 3627796 X 12007635 0 12007635 0 12007635 10947876 0 10947876 0 10947876 PART X, LINE 2: RMCRC IS ORGANIZED AS A UTAH NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 509(A)(2). RMCRC IS REQUIRED TO FILE AN ANNUAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, RMCRC IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. RMCRC HAS DETERMINED THAT IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX. RMCRC HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. RMCRC WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. X X X X 0 0 0 0 0 0 0 0 0 STEVEN NIELSEN PRESIDENT & CEO 215251 0 48025 0 0 0 18429 0 20858 0 302563 0 0 0 NICHOLAS BERGER CHIEF LENDING OFFICER 128730 0 120000 0 0 0 17411 0 18102 0 284243 0 0 0 DAVID WATKINS TREASURER & CFO 142758 0 30000 0 0 0 12093 0 16630 0 201481 0 0 0 JOHN MONTGOMERY CHIEF RISK OFFICER 124620 0 30000 0 0 0 10823 0 22467 0 187910 0 0 0 NATASHA PFEIFFER LOAN OFFICER 94300 0 80000 0 0 0 12201 0 0 0 186501 0 0 0 MEMBER BANKS LOC X 488500000 144216997 0 1 1 144216997 MEMBER BANKS MEMBER BANKS 12192760 OPERATING, MONEY MARKET & RESERVE BANK ACCOUNT 0 FORM 990, PART VI, SECTION A, LINE 6 RMCRC IS A MEMBERSHIP CORPORATION. MEMBERSHIP IS LIMITED TO FEDERALLY INSURED DEPOSITORY INSTITUTIONS CHARTERED UNDER FEDERAL OR STATE LAW WITH BUSINESS OFFICES AUTHORIZED TO ACCEPT DEPOSITS IN THE STATES OF IDAHO, MONTANA, WYOMING, UTAH, COLORADO, NEVADA, ARIZONA AND NEW MEXICO. ALL MEMBERS SHALL BE REQUIRED TO PARTICIPATE FINANCIALLY IN ALL LOANS MADE BY THE CORPORATION ON TERMS TO BE SPECIFIED BY THE BOARD OF DIRECTORS. IN ADDITION, ALL MEMBERS MUST MAKE SUCH ANNUAL CONTRIBUTIONS AS THE BOARD OF DIRECTORS MAY REQUIRE. THE APPLICATION OF PROSPECTIVE MEMBERS SHALL BE CONFIRMED BY MAJORITY VOTE OF THE BOARD OF DIRECTORS. THERE IS ONLY ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A AT EACH ANNUAL MEETING MEMBERS SHALL ELECT DIRECTORS BY CLASS VOTE, I.E., SEPARATE BALLOTS SHALL BE CAST FOR AT-LARGE DIRECTORS, NON-INDUSTRY DIRECTORS AND COMMUNITY BANK DIRECTORS. CANDIDATES WHO RECEIVE THE HIGHEST NUMBER OF VOTES IN THEIR RESPECTIVE ELECTIONS SHALL BE ELECTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B RMCRC MEMBER APPROVAL IS REQUIRED FOR ANY AMENDMENTS TO ITS ARTICLES OF ORGANIZATION TO THE EXTENT SUCH APPROVAL IS REQUIRED BY UTAH CODE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY CPA FIRM WITH PRELIMINARY INPUT FROM RMCRC ACCOUNTANT. THE CFO REVIEWS THE INITIAL DRAFT FOR ACCURACY. THE CEO THEN REVIEWS THE DRAFT INCORPORATING THE CFO'S COMMENTS AND SUGGESTS REVISIONS, IF NECESSARY. ONCE THE FORM 990 HAS BEEN FINALIZED, THE CEO REVIEWS AND APPROVES THE FINAL FORM 990 RETURN. A COPY OF THE FORM 990 THAT WAS FILED WITH THE DEPARTMENT OF THE TREASURY IS DISTRIBUTED TO THE DIRECTORS FOR INFORMATIONAL PURPOSES. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS STATE THEIR CONFLICT PRIOR TO VOTE. IF SIGNIFICANT TO THE BOARD MEMBER'S ORGANIZATION, THE BOARD MEMBER WAIVES THEIR RIGHT TO PARTICIPATE IN THE VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY THE BOARD OF DIRECTORS UPON RECOMMENDATION OF THE COMPENSATION COMMITTEE. THE COMPENSATION FOR ALL OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED UNDER THE DIRECTION OF THE PRESIDENT/CEO WITHIN THE BUDGET APPROVED BY THE BOARD OF DIRECTORS. THE COMPANY RELIES UPON SALARY SURVEYS, OCCASIONAL CONSULTANT SERVICES, AND INTERVIEWS WITH MEMBERS AND RECRUITERS TO ESTABLISH MARKET RELATIVITY. BOARD OFFICERS ARE NOT COMPENSATED FOR SERVICE. FORM 990, PART VI, SECTION C, LINE 19 WHEN RMCRC RECEIVES A REQUEST FOR PUBLIC INSPECTION, COPIES OF ALL REQUESTED ORGANIZATIONAL, CORPORATE, FINANCIAL, AND POLICY DOCUMENTS WILL BE MADE AVAILABLE FOR PUBLIC INSPECTION GENERALLY WITHIN 48 HOURS OF A WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF ADOPTION OF ASC 326-CREDIT LOSSES -1,180,428.