ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION (EIN 87-0620659)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-08-12
- IRS object ID
- 201902249349301900
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-08-12T15:03:27-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450250958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EIDE BAILLY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5 TRIAD CENTER STE 600 | AddressLine1Txt |
| City | SALT LAKE CITY | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 841801106 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 870620659 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROCKY MOUNTAIN COMMUNITY REINVESTMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION FKA UTAH COMMUNITY REINVESTM | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ROCK | BusinessNameControlTxt |
| Phone | 8013660400 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 64 E WINCHESTER NO 230 | AddressLine1Txt |
| City | SALT LAKE CITY | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84107 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID WATKINS | PersonNm |
| Person Title | V.P. & CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8013660400 | PhoneNum |
| Signature | 2019-08-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHRISTOPHER WINSLEY CPA | PreparerPersonNm |
| PTIN | P01698710 | PTIN |
| Phone | 8015322200 | PhoneNum |
| Preparation | 2019-08-07 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 199.247.42.119 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-08-08 | IPDt |
| IP Tm | 14:30:37 | IPTm |
| IP Timezone | MD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 8E9FD351C3F39E06995CF6752FA921D73866D5C9 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | DDA4957984720C68BFAC59046CC896C0765E2398 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DAVID WATKINS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 64 E WINCHESTER NO 230 | AddressLine1Txt |
| City | SALT LAKE CITY | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,793,692 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | RMCRC.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1999 | FormationYr |
| Legal Domicile State | UT | LegalDomicileStateCd |
| Activity Or Mission | THROUGH SUSTAINABLE DIRECT LENDING AND RELATED EFFORTS, THE ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION WILL FACILITATE 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 19 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,806,673 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,792,230 | CYProgramServiceRevenueAmt |
| PY Investment Income | $935 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,462 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $6,807,608 | PYTotalRevenueAmt |
| CY Total Revenue | $7,793,692 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $815,107 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $902,904 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,419,733 | PYOtherExpensesAmt |
| CY Other Expenses | $6,502,823 | CYOtherExpensesAmt |
| PY Total Expenses | $6,234,840 | PYTotalExpensesAmt |
| CY Total Expenses | $7,405,727 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $572,768 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $387,965 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $143,197,811 | TotalAssetsBOYAmt |
| Total Assets EOY | $156,571,622 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $133,682,910 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $146,668,756 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $9,514,901 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $9,902,866 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THROUGH SUSTAINABLE DIRECT LENDING AND RELATED EFFORTS, THE ROCKY MOUNTAIN COMMUNITY REINVESTMENT CORPORATION WILL FACILITATE 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $7,228,174 | ExpenseAmt |
| Revenue | $7,792,230 | RevenueAmt |
| Desc | ASSISTED UTAH'S LOW AND MODERATE INCOME RESIDENTS BY FOSTERING THE DEVELOPMENT AND PRESERVATION OF QUALITY HOUSING. | Desc |
| Total Program Service Expenses | $7,228,174 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (1) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 23 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 19 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | UT | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVID WATKINS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8013660400 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 64 E WINCHESTER NO 230 | AddressLine1Txt |
| City | SALT LAKE CITY | CityNm |
| State Abbreviation | UT | StateAbbreviationCd |
| ZIP | 84107 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| JAN BERGESON | ||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| SCOTT SIMMONS | ||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| BRIAN GURNEY | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JONATHAN HANKS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KIRT PETERSON | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MICHAEL GALLEGOS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MICHAEL PALMER | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROB PEDERSEN | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| STEPHANIE WHITE | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM WHETSTONE | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DUSTIN PHILLIPS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SHARLENE WILDE | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SPENCER MCALLISTER | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GREG RICH | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KIRK WEILER | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| LINDSAY ALFREY | ||||||
| SECRETARY | 40.00 | Yes (X) | $117,229 | $0 | $12,841 | |
| DAVID WATKINS | ||||||
| TREASURER | 40.00 | Yes (X) | $131,750 | $0 | $17,255 | |
| STEVEN NIELSEN | ||||||
| PRESIDENT & CEO | 40.00 | Yes (X) | $198,000 | $0 | $32,841 | |
| JOHN MONTGOMERY | ||||||
| CHIEF RISK OFFICER | 40.00 | Yes (X) | $129,802 | $0 | $8,968 | |
| NICHOLAS BERGER | ||||||
| CHIEF LOAN OFFICER | 40.00 | Yes (X) | $66,667 | $0 | $8,073 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $643,448 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $79,978 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST INCOME FROM L | 900099 | $6,933,516 | $6,933,516 |
| LOAN ADMINISTRATION | 900099 | $783,981 | $783,981 |
| NET SERVICING REVENUE | 900099 | $51,815 | $51,815 |
| OTHER LOAN REVENUE | 900099 | $22,918 | $22,918 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,792,230 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,462 | TotalRevenueColumnAmt |
| Exclusion | $1,462 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,793,692 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,792,230 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,462 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $518,500 | TotalAmt |
| Program Services | $518,500 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $149,299 | TotalAmt |
| Program Services | $149,299 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,047 | TotalAmt |
| Program Services | $58,047 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $77,505 | TotalAmt |
| Program Services | $77,505 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $99,553 | TotalAmt |
| Program Services | $99,553 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $117,365 | TotalAmt |
| Program Services | $117,365 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,231 | TotalAmt |
| Management And General | $121,231 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,994 | TotalAmt |
| Program Services | $28,994 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,233 | TotalAmt |
| Program Services | $21,233 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,316 | TotalAmt |
| Program Services | $87,316 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,991 | TotalAmt |
| Management And General | $49,991 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,793,919 | TotalAmt |
| Program Services | $5,793,919 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,940 | TotalAmt |
| Program Services | $25,940 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,316 | TotalAmt |
| Program Services | $27,316 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| LOAN ADMINISTRATION COS | $204,927 | $204,927 | |
| SERVICING/AGENT FEES | $18,260 | $18,260 | |
| TRAINING | $6,248 | $6,248 | |
| BANK FEES | $83 | $83 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,405,727 | TotalAmt |
| Program Services | $7,228,174 | ProgramServicesAmt |
| Management And General | $177,553 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,646,941 | BOYAmt |
| EOY | $2,036,618 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,003 | BOYAmt |
| EOY | $100,283 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $141,437,347 | BOYAmt |
| EOY | $154,349,174 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,473 | BOYAmt |
| EOY | $8,096 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $143,128 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $112,714 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,587 | BOYAmt |
| EOY | $30,414 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,460 | BOYAmt |
| EOY | $47,037 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,197,811 | BOYAmt |
| EOY | $156,571,622 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,016,062 | BOYAmt |
| EOY | $1,285,876 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $120,510,753 | BOYAmt |
| EOY | $145,382,880 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,156,095 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,682,910 | BOYAmt |
| EOY | $146,668,756 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,366,624 | BOYAmt |
| EOY | $9,902,866 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,148,277 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,514,901 | BOYAmt |
| EOY | $9,902,866 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,197,811 | BOYAmt |
| EOY | $156,571,622 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $387,965 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $122,358 | CurrentTaxYearMinus2YearsAmt |
| Total | $122,358 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,150,854 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,152,348 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,676,539 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,806,673 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,792,230 | CurrentTaxYearAmt |
| Total | $35,578,644 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,150,854 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,152,348 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,798,897 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,806,673 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,792,230 | CurrentTaxYearAmt |
| Total | $35,701,002 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $35,701,002 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $11,986 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $10,497 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,360 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $935 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,462 | CurrentTaxYearAmt |
| Total | $29,240 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $11,986 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $10,497 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,360 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $935 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,462 | CurrentTaxYearAmt |
| Total | $29,240 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,162,840 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,162,845 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,803,257 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,807,608 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,793,692 | CurrentTaxYearAmt |
| Total | $35,730,242 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.99920 | PublicSupportCY509Pct |
| Public Support PY509 | 0.99900 | PublicSupportPY509Pct |
| Investment Income CY | 0.00080 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00100 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $143,128 | OtherCostOrOtherBasisAmt |
| Depreciation | $112,714 | DepreciationAmt |
| Book Value | $30,414 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $30,414 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $7,793,692 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $7,793,692 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $7,793,692 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,405,727 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,405,727 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,405,727 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEVEN NIELSEN | PersonNm |
| Title | PRESIDENT & CEO | TitleTxt |
| Base Compensation Filing Org | $163,000 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $35,000 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $15,102 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $17,739 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $230,841 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBER BANKS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Loan Purpose | LOC | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $286,750,000 | OriginalPrincipalAmt |
| Balance Due | $145,382,880 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $145,382,880 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBER BANKS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | MEMBER BANKS | RelationshipDescriptionTxt |
| Transaction | $3,889,917 | TransactionAmt |
| Transaction | OPERATING, MONEY MARKET & RESERVE BANK ACCOUNT | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 CFO THEN REVIEWS THE DRAFT INCORPORATING THE CEO'S COMMENTS. 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 15 | 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. |