Montana Community Development Corporation

Organization Overview

Montana Community Development Corporation, operating under the name Mofi, is located in Missoula, MT. The organization was established in 1995. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Mofi employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mofi is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Mofi generated $17.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $10.4m during the year ending 12/2021. While expenses have increased by 13.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

MONTANA COMMUNITY DEVELOPMENT CORPORATION (DBA "MOFI") PROVIDES FINANCING AND CONSULTING SERVICES THAT TRANSFORM LIVES AND COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FOUNDED IN 1986, MONTANA COMMUNITY DEVELOPMENT CORPORATION DBA MOFI IS A 501(C)(3) NONPROFIT ORGANIZATION WITH A MISSION TO PROVIDE FINANCING AND CONSULTING THAT TRANSFORMS LIVES AND COMMUNITIES. MOFI IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") AND NEW MARKETS TAX CREDIT ("NMTC") LENDER PROVIDING ACCESS TO CAPITAL AND FREE BUSINESS CONSULTING SERVICES. MOFI WORKS IN THE ROCKY MOUNTAIN WEST AND HAS TWO PRIMARY LENDING PROGRAMS: (1) LOANS TO SMALL BUSINESSES THAT CANNOT SECURE TRADITIONAL FINANCING, AND (2) NEW MARKETS TAX CREDIT LOANS. IN 2021, MOFI CONTINUED TO PARTICIPATE IN THE UNITED STATES SMALL BUSINESS ADMINISTATION'S ("SBA") PAYCHECK PROTECTION PROGRAM ("PPP"). THIS SHORT-TERM CAPITAL ACCESS PROGRAM WAS ESTABLISHED UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (THE "CARES ACT") IN RESPONSE TO THE COVID-19 PANDEMIC AND RELATED NATIONAL ECONOMIC DECLINE.


IN ADDITION TO ITS TWO CORE LENDING PROGRAMS, MOFI OFFERS TWO HOME LOAN PROGRAMS IN MONTANA: (1) DOWN PAYMENT ASSISTANCE FOR HOMEBUYERS THROUGH A COMMUNITY SECOND MORTGAGE PROGRAM AND (2) EMERGENCY HOME REPAIR LOANS TO PEOPLE LIVING IN MANUFACTURED HOUSING.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Alter Enterprises
It Services
$347,720
Jackson Contractor Group Inc
Contracting Services
$158,395
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,448,240
All other contributions, gifts, grants, and similar amounts not included above$3,491,520
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,939,760
Total Program Service Revenue$11,357,139
Investment income $115,980
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,427,104

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Montana Community Development Corporation has recieved totaling $2,241,026.

Awarding OrganizationAmount
Otto Bremer Trust

St Paul, MN

PURPOSE: CBFC EMERGENCY FUND

$2,000,000
Northwest Area Foundation

St Paul, MN

PURPOSE: UPLIFT AMERICA FUND

$216,014
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$15,000
Washington Federal Foundation

Seattle, WA

PURPOSE: ECONOMIC DEVELOPMENT

$10,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$12
View Grant Recipient Profile

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