Nonprofit · EIN 81-0500256
MONTANA COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · MISSOULA, MT 59802
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $35,188,901 | $20,879,281 | $14,309,620 | $184,856,671 | $94,626,273 | $90,230,398 |
| December 31, 2024 | 990 | $35,080,929 | $19,074,018 | $16,006,911 | $147,958,538 | $72,037,760 | $75,920,778 |
| December 31, 2023 | 990 | $18,875,682 | $13,420,404 | $5,455,278 | $108,692,503 | $48,778,636 | $59,913,867 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $20,342,088
- of which government grants
- $19,301,238
- Program service revenue
- $12,967,751
- Investment income
- $1,879,062
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $3,121,699
- Other salaries and wages
- $6,067,321
- Salaries, compensation and benefits (total)
- $10,895,874
- Professional fundraising fees
- $68,813
- Legal fees
- $49,554
- Accounting fees
- $117,002
- Occupancy
- $233,912
- Travel
- $587,113
- Depreciation
- $334,980
- Program services (functional)
- $18,413,393
- Management and general (functional)
- $2,397,075
- Fundraising (functional)
- $68,813
Balance sheet and other
- Total assets, start of year
- $147,958,538
- Total assets, end of year
- $184,856,671
- Total liabilities, end of year
- $94,626,273
- Net assets, end of year
- $90,230,398
- Land, buildings and equipment
- $1,650,544
- Net assets without donor restrictions
- $87,554,649
- Net assets with donor restrictions
- $2,675,749
- Gross receipts
- $35,188,901
- Employees
- 56
- Volunteers
- 9
- Year formed
- 1995
- State of legal domicile
- MT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI DEARMENT | PRESIDENT & CEO Trustee or director, Officer | 40 | $993,584 | $15,300 |
| GREG ASTLE | CFO Officer | 40 | $710,257 | $14,530 |
| BEN WRIGHT | VICE PRESIDENT Officer | 40 | $641,595 | $17,000 |
| LEAH KNICKERBOCKER | CHIEF LENDING OFFICER (THRU 11/25) Key employee | 40 | $289,281 | $7,167 |
| RACHEL MCDONOUGH | CONTROLLER Highest-paid employee | 40 | $228,927 | $13,785 |
| KANDRA ROBERTS | CHIEF IMPACT OFFICER Key employee | 40 | $223,715 | $13,000 |
| MADISON BROOKE | CHIEF OPERATIONS OFFICER Highest-paid employee | 40 | $215,810 | $12,833 |
| ALYSSA PETERMAN | CHIEF SALES OFFICER Key employee | 40 | $191,271 | $5,000 |
| BARB RIGG | LOAN OFFICER Highest-paid employee | 40 | $192,409 | $1,302 |
| MOLLY HOWARD | CHIEF LEGAL COUNSEL Highest-paid employee | 40 | $181,777 | $700 |
| KALA BIITTNER | NMTC ACCOUNTING AND COMPLIANCE MANAGER Highest-paid employee | 40 | $172,817 | $6,259 |
| ALLISON JOHNSTON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DON KING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JORDAN RUIZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOSE VILLALOBOS | DIRECTOR Trustee or director | 1 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KALLI RYTI | DIRECTOR (THRU 11/25) Trustee or director | 1 | $0 |
| NANCY QUIST | CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| ROBERT VILLAREAL | DIRECTOR Trustee or director | 1 | $0 |
| SERENA RUNDBERG | DIRECTOR Trustee or director | 1 | $0 |
| TOM SERVERSON | SECRETARY Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2024: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI DEARMENT | PRESIDENT & CEO (FROM 2/24) Trustee or director, Officer | 40 | $836,302 | $42,041 |
| GREG ASTLE | CFO Officer | 40 | $598,295 | $25,593 |
| BEN WRIGHT | VICE PRESIDENT (FROM 11/24) Officer | 40 | $491,789 | $34,813 |
| BETSY BEAUVAIS | CHIEF LEARNING AND DEVELOP Highest-paid employee | 40 | $475,995 | $38,226 |
| DAVID GLASER | OUTGOING PRESIDENT (THROUGH 5/24) Trustee or director, Officer | 40 | $454,772 | $14,111 |
| RACHEL MCDONOUGH | CONTROLLER Highest-paid employee | 40 | $247,873 | $35,311 |
| ALYSSA PETERMAN | CHIEF SALES OFFICER Key employee | 40 | $217,293 | $20,017 |
| LEAH KNICKERBOCKER | CHIEF LENDING OFFICER Key employee | 40 | $209,369 | $22,680 |
| KATHERINE LANE | CHIEF PEOPLE OFFICER Highest-paid employee | 40 | $220,000 | $7,140 |
| KANDRA ROBERTS | DIRECTOR OF IMPACT & COMPLIANCE Highest-paid employee | 40 | $179,573 | $30,560 |
| MADISON BROOKE | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $170,195 | $27,038 |
| NANCY QUIST | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| TOM SEVERSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ALLISON JOHNSTON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| KALLI RYTI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARA SMITH | OUTGOING DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT VILLAREAL | DIRECTOR (FROM 3/24) Trustee or director | 1 | $0 | $0 |
| NATALIE CAMACHO MENDOZA | OUTGOING DIRECTOR Trustee or director | 1 | $0 | $0 |
| LISA COOPER | OUTGOING DIRECTOR Trustee or director | 1 | $0 | $0 |
| SERENA RUNDBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOSE VILLALOBOS | DIRECTOR (FROM 3/24) Trustee or director | 1 | $0 | $0 |
| DON KING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOB GAUTHIER | OUTGOING DIRECTOR Trustee or director | 1 | $0 | $0 |
| JORDAN RUIZ | DIRECTOR (FROM 9/24) Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HEIDI DEARMENT | VICE PRESIDENT Officer | 40 | $611,874 | $45,864 |
| DAVID GLASER | PRESIDENT Trustee or director, Officer | 40 | $621,504 | $35,877 |
| GREG ASTLE | CFO Key employee | 40 | $432,332 | $27,615 |
| BETSY BEAUVAIS | CHIEF LEARNING AND DEVELOPMENT OFFICER Highest-paid employee | 40 | $361,549 | $42,624 |
| BEN WRIGHT | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $351,891 | $37,560 |
| RACHEL MCDONOUGH | CONTROLLER Highest-paid employee | 40 | $307,626 | $37,919 |
| LEAH KNICKERBOCKER | CHIEF LENDING OFFICER Highest-paid employee | 40 | $159,217 | $23,013 |
| JODI HUBBLE | DIRECTOR OF DEVELOPMENT THRU 08/23 Highest-paid employee | 40 | $134,174 | $7,473 |
| ALLISON JOHNSTON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| BOB GAUTHIER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DON KING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KALLI RYTI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LISA COOPER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NANCY QUIST | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| NATALIE CAMACHO MENDOZA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARA SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SERENA RUNDBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM SERVERSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 229 E MAIN ST, MISSOULA, MT 59802-4423
- In care of
- % RICK ENEAS
- Principal officer (990 for 2025)
- NANCY QUIST, 229 EAST MAIN STREET, MISSOULA, MT 59802
- Signed the 990
- NANCY QUIST, CHAIRPERSON
- Phone
- (406) 728-9234
- Website
- WWW.MOFI.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
MOFI'S MISSION IS TO PROVIDE FINANCING AND ADVISORY SERVICES FOR ECONOMICALLY UNDERSERVED AND DISTRESSED POPULATIONS AND AREAS, TRANSFORMING LIVES AND COMMUNITIES.
Program accomplishments
- 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.Expenses $18,413,393 · revenue $12,967,751
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-0500256
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1995
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $184,856,671
- Income (IRS master file)
- $35,188,901
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $35,188,901 | $20,879,281 | $184,856,671 | IRS |
| 990 | December 2024 | $35,080,929 | $19,074,018 | $147,958,538 | IRS |
| 990 | December 2023 | $18,875,682 | $13,420,404 | $108,692,503 | XML |
| 990 | December 2022 | $20,160,998 | $9,817,635 | $89,408,341 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-0500256).
Questions about MONTANA COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of MONTANA COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of MONTANA COMMUNITY DEVELOPMENT CORPORATION is 81-0500256.
- Is MONTANA COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to MONTANA COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MONTANA COMMUNITY DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MONTANA COMMUNITY DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MONTANA COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MONTANA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names NANCY QUIST.
- Who are the officers and directors of MONTANA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 20 people; 11 received compensation from the organization, the highest $993,584 (HEIDI DEARMENT, PRESIDENT & CEO).
- How much revenue does MONTANA COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $35,188,901, expenses of $20,879,281 and total assets of $184,856,671 at year end.
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All nonprofits in MISSOULA · Montana · Community improvement and capacity building