Montana Community Development Corp

What it reported doing in 2025

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.

Financial Efficiency

• Mission deployment rate: 54.9%; rating input score 55
• Program expense ratio: 88.2%; rating input score 88
• Fundraising efficiency: $295.61 raised per $1 spent on fundraising; rating input score 92; 92nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 19th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 88.9%; rating input score 89; 17th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 40.7%; rating input score 89; 89th percentile among comparable filings
• Total-asset coverage ratio: 8.85; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.51; rating input score 25; 25th percentile among comparable filings
• Officer compensation ratio: 19.9%; rating input score 6; 6th percentile among comparable filings

Growth

• Program expense growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings
• Revenue growth: 13.2% per year; rating input score 100; 83rd percentile among comparable filings
• Asset growth: 14.2% per year; rating input score 100; 80th percentile among comparable filings