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EIN 41-0972298

Midwest Minnesota Community Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
40
City
Detroit Lakes
State
Minnesota
Year formed
1971
Most recent tax filings
2023-12-01
NTEE code, primary
S31: Urban, Community Economic Development
Description
Midwest Minnesota Community Development Corporation supports communities and individuals in achieving a better quality of life through various programs. In 2021, it provided commercial and new markets tax loans totaling $50,862,038 to create 237 new jobs and support the purchase, construction or improvement of 686,692 square feet of commercial real estate. It also provided affordable housing lending by financing 44 first time home buyer mortgage loans and soft-second down-payment assistance loans for low-income people as well as 33 home improvement loans.
Total revenues
$6,717,967
2023
Total expenses
$5,081,680
2023
Total assets
$81,350,440
2023
Num. employees
40
2023

Program areas at Midwest Minnesota Community Development Corporation

Business Development: mmcdc provided commercial and new markets tax credit loans totaling $15,611,382 in 2023. This investment is expected to create 162 new jobs. It also supports purchase, construction, or improvement of 148,765 square feet of commercial real estate. 100% of the dollars were invested in disadvantaged communities, 71% in rural communities, and 89% of the borrowers were minority, women, or low-income owned or controlled businesses.
Affordable housing lending: mmcdc provided 30 first time home buyer mortgage loans. We also provided 11 home purchase loans, 1 refinancing loans, 2 home improvement loans and 19 additional down-payment assistance loans to low-income people and places.
Affordable housing Development: we managed 266 rental units (28 commercial and 238 residential) as well as a county eda's housing voucher program, providing 57 vouchers to people in need of stable housing.
Other programs: these are additional programs we fund and operate. They include homebuyer education, income tax services, and other projects that support our mission. They also include administrative, financial, and grant support to the organization.

Grants made by Midwest Minnesota Community Development Corporation

GranteeGrant descriptionAmount
White Earth Investment InitiativeOperating Fund$55,000
Owatonna Independent School District No 761 Foundation20 $2,000 Scholarships$40,000
White Earth Investment InitiativeIrs Tax Site$25,985
...and 1 more grant made

Who funds Midwest Minnesota Community Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
NeighborWorks AmericaGeneral Support$607,500
The McKnight FoundationTo Support Start-Up Costs for A Statewide First-Generation Homebuyers Down Payment Assistance Fund To Reduce the Racial Homeownership Gap, for Individuals Who Lack Generational Wealth and Without Assistance Would Not Achieve Homeownership$480,000
Opportunity Finance Network (OFN)Finance Justice Fund Subgrant$250,000
...and 1 more grant received

Personnel at Midwest Minnesota Community Development Corporation

NameTitleCompensation
Matt NelsonChief Financial Officer
Scott Omlid, CPAConsultant$194,361
Steve WieboltVice President , Administration$140,201
Nicole KirchnerVice President of Business Development$117,030
Karen LarsonVice President , Mortgage Lending$111,568
...and 18 more key personnel

Financials for Midwest Minnesota Community Development Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$956,485
Program services$4,929,636
Investment income and dividends$258,864
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$572,982
Total revenues$6,717,967

Form 990s for Midwest Minnesota Community Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-08990View PDF
2022-122023-10-27990View PDF
2021-122022-11-08990View PDF
2020-122021-09-15990View PDF
2019-122021-02-24990View PDF
...and 9 more Form 990s

Organizations like Midwest Minnesota Community Development Corporation

OrganizationLocationRevenue
Ohio Community Development Finance FundColumbus, OH$16,922,285
Coastal Enterprises (CEI)Brunswick, ME$22,641,314
I2eOklahoma City, OK$6,662,200
Mountain AssociationBerea, KY$8,094,633
Locus Impact FundChristiansburg, VA$9,556,651
Florida Community Loan Fund (FCLF)Orlando, FL$15,185,807
Colorado Enterprise Fund (CEF)Denver, CO$18,269,112
Community Vision Capital and ConsultingSan Francisco, CA$10,403,968
Washington Area Community Investment FundWashington, DC$7,616,507
Valley PartnersYoungstown, OH$8,153,238
Data update history
November 26, 2024
Updated personnel
Identified 3 new personnel
November 26, 2024
Received grants
Identified 2 new grant, including a grant for $607,500 from NeighborWorks America
January 21, 2024
Updated personnel
Identified 1 new personnel
January 20, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 2, 2024
Received grants
Identified 5 new grant, including a grant for $555,500 from NeighborWorks America
Nonprofit Types
Business and community development organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
LobbyingState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
119 Graystone Plaza Suite 100
Detroit Lakes, MN 56501
County
Becker County, MN
Website URL
mmcdc.com/ 
Phone
(218) 847-3191
Facebook page
Midwest-Minnesota-Community-Development-Corporation-MMCDC 
IRS details
EIN
41-0972298
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1971
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
522120: Savings Institutions
Parent/child status
Central organization
California AB-488 details
AB 488 status
May Not Operate or Solicit for Charitable Purposes
Charity Registration status
Delinquent
FTB status revoked
Not revoked
AG Registration Number
CT0225647
FTB Entity ID
3841949
AB 488 data last updated ("as-of") date
2025-02-19
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