2026-05-12T16:36:32-05:00 2025-12-31 333709623 COHNREZNICK ADVISORY LLC 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2025-01-01 810500256 MONTANA COMMUNITY DEVELOPMENT CORP MONT 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 NANCY QUIST CHAIRPERSON 4067289234 2026-05-11 1 ZACHARY SEGAL P01511850 9732283500 2026-05-11 2025 2025-03-06 01:10:19Z MOFI NANCY QUIST 229 EAST MAIN STREET MISSOULA MT 59802 35188901 0 X WWW.MOFI.ORG X 1995 MT SEE FORM 990, PART III, LINE 1. 9 8 56 9 0 0 23571343 20342088 10199383 12967751 1310203 1879062 0 0 35080929 35188901 83317 0 0 0 10236541 10895874 0 68813 68813 8754160 9914594 19074018 20879281 16006911 14309620 147958538 184856671 72037760 94626273 75920778 90230398 X MOFI'S MISSION IS TO PROVIDE FINANCING AND ADVISORY SERVICES FOR ECONOMICALLY UNDERSERVED AND DISTRESSED POPULATIONS AND AREAS, TRANSFORMING LIVES AND COMMUNITIES. 0 0 18413393 12967751 FOUNDED IN 1986, MONTANA COMMUNITY DEVELOPMENT CORPORATION DBA MOFI ("MOFI"), IS A 501(C)(3) NONPROFIT ORGANIZATION WITH A MISSION TO PROVIDE FINANCING AND ADVISORY SERVICES FOR ECONOMICALLY UNDERSERVED AND DISTRESSED POPULATIONS AND AREAS, TRANSFORMING LIVES AND COMMUNITIES. MOFI IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") THAT PRIMARILY SERVES BUSINESSES OWNED BY LOW-INCOME PEOPLE AND LOCATED IN LOW-INCOME COMMUNITIES WITH BUSINESS LOANS AND FREE TECHNICAL ASSISTANCE. MOFI IS DRIVEN BY A SIMPLE VISION: EXPANDING ACCESS TO CAPITAL FOR ENTREPRENEURS AND BUSINESS OWNERS WHO LACK IT.(CONTINUED ON SCHEDULE O)MOFI PRIMARILY SERVES CLIENTS IN FIVE STATES INCLUDING MONTANA, WYOMING, IDAHO, UTAH, AND WASHINGTON. MOFI ALSO OCCASIONALLY MAKES LOANS AND PROVIDES TECHNICAL ASSISTANCE IN OTHER STATES ACROSS THE WEST WHEN NEEDED. MOFI HAS TWO PROGRAMS: (1) THE SMALL BUSINESS LENDING PROGRAM WHICH PROVIDES LOANS OF UP TO $3 MILLION TO SMALL BUSINESSES AND (2) THE NEW MARKETS TAX CREDIT PROGRAM PROVIDING NMTC ENHANCED LOANS OF $5 MILLION TO $35 MILLION TO CATALYTIC PROJECTS IN THE REGION'S LOWEST INCOME COMMUNITIES THAT CREATE GOOD JOBS, PROVIDE CRITICAL COMMUNITY SERVICES, AND TRANSFORM THE REGION'S MOST IMPOVERISHED ECONOMIES. ALL LOANS INCLUDE FREE TECHNICAL ASSISTANCE.MOFI WHOLLY OWNS MOFI LENDING LLC, A MONTANA LIMITED LIABILITY COMPANY THAT COMMENCED OPERATIONS ON JUNE 7, 2024, FOR THE PURPOSE OF CARRYING OUT THE MISSION OF MOFI. MOFI LENDING, LLC WILL CONTINUE UNTIL TERMINATED BY MOFI AND IS COLLECTIVELY, WITH MOFI, REFERRED TO AS THE ORGANIZATION. 18413393 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 77 0 1 56 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO IA ID MN MT ND NE NV OR SD UT WA WY X RACHEL MCDONOUGH 4067289234 229 EAST MAIN STREET MISSOULA MT 59802 HEIDI DEARMENT PRESIDENT & CEO 40.00 X X 993584 0 15300 ALLISON JOHNSTON TREASURER 1.00 X X 0 0 0 DON KING DIRECTOR 1.00 X 0 0 0 JORDAN RUIZ DIRECTOR 1.00 X 0 0 0 JOSE VILLALOBOS DIRECTOR 1.00 X 0 0 0 KALLI RYTI DIRECTOR (THRU 11/25) 1.00 X 0 0 0 NANCY QUIST CHAIRPERSON 1.00 X X 0 0 0 ROBERT VILLAREAL DIRECTOR 1.00 X 0 0 0 SERENA RUNDBERG DIRECTOR 1.00 X 0 0 0 TOM SERVERSON SECRETARY 1.00 X X 0 0 0 GREG ASTLE CFO 40.00 X 710257 0 14530 BEN WRIGHT VICE PRESIDENT 40.00 X 641595 0 17000 LEAH KNICKERBOCKER CHIEF LENDING OFFICER (THRU 11/25) 40.00 X 289281 0 7167 KANDRA ROBERTS CHIEF IMPACT OFFICER 40.00 X 223715 0 13000 ALYSSA PETERMAN CHIEF SALES OFFICER 40.00 X 191271 0 5000 RACHEL MCDONOUGH CONTROLLER 40.00 X 228927 0 13785 MADISON BROOKE CHIEF OPERATIONS OFFICER 40.00 X 215810 0 12833 BARB RIGG LOAN OFFICER 40.00 X 192409 0 1302 MOLLY HOWARD CHIEF LEGAL COUNSEL 40.00 X 181777 0 700 KALA BIITTNER NMTC ACCOUNTING AND COMPLIANCE MANAGER 40.00 X 172817 0 6259 4041443 0 106876 24 0 1 0 S2R LLC 101 N UNION ST SUITE 305 ALEXANDRIA VA 22314 CONSULTING 203000 SCHAUMAN CONSULTING LLC 911 WASHINGTON AVE SUITE 211 ST LOUIS MO 63101 CONSULTING 159433 COHNREZNICK LLP PO BOX 1699 ALBANY NY 12201 ACCOUNTING 124245 3 19301238 1040850 20342088 LOAN INTEREST & FEES 525990 7049264 7049264 NMTC FEES 525990 5764228 5764228 LOAN INTEREST & FEES 525990 154259 154259 12967751 1879062 1879062 35188901 12967751 0 1879062 3121699 2592260 529439 6067321 5038303 1029018 278111 230943 47168 963822 800358 163464 464921 386070 78851 49554 41150 8404 117002 97158 19844 258550 258550 68813 68813 488615 473566 15049 388803 388803 205039 170265 34774 757775 629256 128519 233912 194241 39671 587113 487538 99575 963043 963043 334980 278167 56813 152098 126302 25796 LOAN LOSS PROVISION 4405673 4405673 STAFF DEVELOPMENT 631015 523995 107020 LOAN EXPENSE 260825 260825 REPAIRS & MAINTENANCE 25115 20855 4260 55482 46072 9410 20879281 18413393 2397075 68813 168502 141383 50698272 63051957 1663969 1679952 93025182 117956514 94738 106510 4987359 3336815 1949942 1650544 37902 34757 320031 235054 147958538 184856671 4313960 5650062 1778558 3877495 44853302 48334356 21091940 36764360 72037760 94626273 X 73441157 87554649 2479621 2675749 75920778 90230398 147958538 184856671 14309620 0 X 0 1 X 1 1 1 X 5939760 6591235 8762349 23571343 20342088 65206775 5939760 6591235 8762349 23571343 20342088 65206775 731840 64474935 115980 96945 1031270 1310203 1879062 4433460 14225 3530 17755 69657990 57075624 0.92560 0.90530 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER - 2021 AMOUNT: $ 14,225. 2022 AMOUNT: $ 3,530. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 258550 258550 20813385 21071935 1000000 250000 0 0 640882 822265 1000000 1000000 3463147 5194721 23079 24900 70425 258550 376954 160221 205566 250000 250000 865787 1298681 SCHEDULE C, PART II-A MOFI'S LOBBYING EXPENSE IS FOR MEMBERSHIP DUES TO INDUSTRY COALITIONS AND LOBBYING CONTRACTS THAT ENSURE THAT IMPACT DATA FROM KEY FEDERAL PROGRAMS BY THE U.S. SMALL BUSINESS ADMINISTRATION, UNITED STATES DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT, THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, AND HEALTH AND HUMAN SERVICES ARE SHARED WITH MEMBERS OF THE US SENATE AND HOUSE OF REPRESENTATIVES. 300000 300000 2554063 1460940 1093123 1841483 1640175 201308 291813 235700 56113 1650544 DUE TO OTHER AGENCIES 1443933 PARTICIPATION LOANS PAYABLE 35320427 36764360 X 35188901 0 35188901 0 35188901 20879281 0 20879281 0 20879281 PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE MOFI AND HAS CONCLUDED THAT, AS OF DECEMBER 31 2025, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MOFI IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL TAX AUTHORITIES FOR YEARS BEFORE 2022. X X X X X X 1 POLICY & MANAGEMENT ASSOCIATES INC 89 SCHOOL STREET SUITE TWO CHARLESTOWN MA 02129 GRANT WRITING 0 1500000 18750 1481250 LINK CONSULTING LLC 229 E MAIN ST MISSOULA MT 59802 GRANT WRITING 0 533343 20063 513280 CURTIS RAY MINER & ASSOCIATES 60 HILLSIDE DR BUFFALO WY 82834 FUNDRAISING CONSULTING 0 0 30000 -30000 2033343 68813 1964530 CO IA ID MN MT ND NE NV OR SD UT WA WY X 1 1 X X X 1 0 0 0 0 1 0 1 0 HEIDI DEARMENT PRESIDENT & CEO 432019 0 560655 0 910 0 13800 0 1500 0 1008884 0 0 0 GREG ASTLE CFO 301166 0 407891 0 1200 0 9530 0 5000 0 724787 0 0 0 BEN WRIGHT VICE PRESIDENT 293580 0 347292 0 723 0 12000 0 5000 0 658595 0 0 0 LEAH KNICKERBOCKER CHIEF LENDING OFFICER (THRU 11/25) 180636 0 0 0 108645 0 7167 0 0 0 296448 0 0 0 RACHEL MCDONOUGH CONTROLLER 213175 0 14640 0 1112 0 8785 0 5000 0 242712 0 0 0 KANDRA ROBERTS CHIEF IMPACT OFFICER 193142 0 29915 0 658 0 8000 0 5000 0 236715 0 0 0 MADISON BROOKE CHIEF OPERATIONS OFFICER 188091 0 26695 0 1024 0 7833 0 5000 0 228643 0 0 0 ALYSSA PETERMAN CHIEF SALES OFFICER 125541 0 63750 0 1980 0 5000 0 0 0 196271 0 0 0 BARB RIGG LOAN OFFICER 173616 0 17628 0 1165 0 1302 0 0 0 193711 0 0 0 MOLLY HOWARD CHIEF LEGAL COUNSEL 152207 0 29003 0 567 0 0 0 700 0 182477 0 0 0 KALA BIITTNER NMTC ACCOUNTING AND COMPLIANCE MANAG 153590 0 19135 0 92 0 6259 0 0 0 179076 0 0 0 PART I, LINE 1A MOFI PROVIDES A BENEFIT FOR ALL EMPLOYEES TO PAY GYM MEMBERSHIP DUES. THESE DUES ARE TREATED AS TAXABLE INCOME. THESE AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B(III) AND INCLUDED IN THE INDIVIDUALS 2025 W-2S. PART I, LINE 4A LEAH KNICKERBOCKER (FORMER CHIEF OF LENDING) RECEIVED SEVERANCE PAYMENTS OF $107,500 PART I, LINE 6 MOFI HAS AN ESTABLISHED EXECUTIVE BONUS PLAN CONTINGENT ON THE NET EARNINGS OF THE ORGANIZATION. PART I, LINE 7 INCLUDED IN SCHEDULE J, PART I COLUMN B(II) ARE AMOUNTS REPRESENTING BONUSES. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUALS 2025 W-2 AND APPROVED BY THE BOARD AND/OR PRESIDENT. JOHN DEARMENT FAMILY MEMBER OF HEIDI DEARMENT (OFFICER) 22750 CONSULTING AND GRANT WRITING SERVICES 0 CHANTEL NAYLOR FAMILY MEMBER OF GREG ASTLE (OFFICER) 59793 MARKETING SERVICES 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE REVIEWS THE FORM 990 ON BEHALF OF THE BOARD. 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 ORGANIZATION DETERMINES COMPENSATION FOR ALL MANAGEMENT STAFF AND FOR THE MAJORITY OF THE OTHER STAFF MEMBERS BY CONDUCTING STAFF AND POSITION SPECIFIC SALARY SURVEYS, INDUSTRY INTERVIEWS, AND REVIEWS OF 990'S FOR INDUSTRY AND OTHER PEER ORGANIZATIONS. THE CEO'S COMPENSATION IS ESTABLISHED ANNUALLY BY THE EXECUTIVE COMMITTEE BASED ON THE SURVEY RESULTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. MOFI LENDING LLC 229 E MAIN ST MISSOULA MT 59802 275489113 LENDING MT 10170903 21195813 ARAPAHO SUB CDE LLC 229 EAST MAIN ST MISSOULA MT 59802 300949005 PROVIDE INV CAP. 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