EIN 81-0500256

MoFi

IRS 501(c) type
501(c)(3)
Num. employees
41
State
Year formed
1995
Most recent tax filings
2022-12-01
Description
MoFi is a nonprofit organization that provides financing and consulting services to transform lives and communities. It operates as a Community Development Financial Institution (CDFI) since 1986 and offers two home loan programs in Montana: down payment assistance for homebuyers through a Community second mortgage program and emergency home repair loans to people living in manufactured housing.
Also known as...
Montana Community Development Corporation
Total revenues
$20,160,998
2022
Total expenses
$9,817,635
2022
Total assets
$89,408,341
2022
Num. employees
41
2022

Program areas at MoFi

Founded in 1986, Montana Community Development corporation, doing business as Mofi ("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 financial consulting services for people who have been left out of the financial mainstream. Mofi is inspired by one vision: transforming the financial system to work for everyone.mofi works in the rocky mountain west and has two primary lending programs: (1) providing loans to small and microbusinesses than cannot secure conventional financing, and (2) providing nmtc enhanced loans to catalytic projects that create jobs, provide critical Community services, and transform economies in the region's most impoverished areas.
In addition to its two core programs, Mofi offers two smaller home loan programs in Montana, a state characterized by high housing costs and low wages. These programs include homenow, a down payment assistance program offering down payment grants and loans, and ehrl (emergency home repair loan) a consumer loan for urgent home repairs for people living in manufactured housing.

Who funds MoFi

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Opportunity Finance Network (OFN)Ofn Cdfi Tech Grant Program Supported By Google.org$100,000
M J Murdock Charitable TrustMofi Leadership Academy$70,000
First Interstate BancSystem FoundationGeneral Operating Support$25,270
...and 2 more grants received

Personnel at MoFi

NameTitleCompensation
Heidi DearmentVice President and Chief Financial Officer / Vice President , Chief Financial Officer / Vice - President / Chief Financial Officer / Vice President$515,389
David GlaserPresident$520,859
Ben WrightDirector of Asset Management / Director of Operations / Idaho Business / Director of Client Services$284,521
Rachel McDonoughDirector of Finance$253,481
Elizabeth AddingtonDirector of Operations / Director of Marketing and Business Development$216,848
...and 23 more key personnel

Financials for MoFi

RevenuesFYE 12/2022
Total grants, contributions, etc.$6,591,235
Program services$13,469,288
Investment income and dividends$96,945
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$3,530
Total revenues$20,160,998

Form 990s for MoFi

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-09990View PDF
2021-122022-11-04990View PDF
2020-122021-11-04990View PDF
2019-122021-02-17990View PDF
2018-122019-12-11990View PDF
...and 10 more Form 990s
Data update history
January 18, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 28, 2023
Used new vendors
Identified 1 new vendor, including
December 23, 2023
Received grants
Identified 6 new grant, including a grant for $216,014 from Northwest Area Foundation
August 8, 2023
Posted financials
Added Form 990 for fiscal year 2020
July 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Housing and shelter organizationsCommunity Development Financial InstitutionsCharities
Issues
Human servicesCommunity improvementHousingEconomic development
Characteristics
LobbyingState / local levelReceives government fundingTax deductible donations
General information
Address
229 E Main St
Missoula, MT 59802
Metro area
Missoula, MT
Website URL
mofi.org/ 
Phone
(406) 728-9234
Facebook page
MontanaCDC 
Twitter profile
@montanacdc 
IRS details
EIN
81-0500256
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1995
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L80: Housing Support Services
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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