Program areas at Midwest Minnesota Community Development Corporation
Business Development: mmcdc provided commercial and new markets tax credit loans totaling $49,148,276 in 2022. This investment is expected to create 304 new jobs. It also supports purchase, construction, or improvement of 393,755 square feet of commercial real estate. 98% of the dollars were invested in disadvantaged communities, 72% in rural communities, and 83% of the borrowers were minority, women, or low-income owned or controlled businesses.
Affordable housing lending: mmcdc provided 32 first time home buyer mortgage loans. We also provided 29 home purchase loans, 2 refinancing loans, and 42 additional down-payment assistance loans to low-income people and places.
Affordable housing Development: together with the northwest Minnesota housing cooperative, mmcdc sold 3 homes and 2 lots in its affordable housing developments. We also managed 266 rental units (28 commercial and 238 residential) as well as a county eda's housing voucher program, providing 55 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
Who funds Midwest Minnesota Community Development Corporation
Grants from foundations and other nonprofits
Personnel at Midwest Minnesota Community Development Corporation
| Name | Title | Compensation | Date of data |
|---|
| Matt Nelson | Chief Financial Officer | | 2024-11-25 |
| Scott Omlid, CPA | Consultant | $194,361 | 2024-11-25 |
| Arlen Kangas | Chief Economist / President | $114,020 | 2021-12-31 |
| Steve Wiebolt | Vice President , Administration | $140,201 | 2023-05-04 |
| Nicole Kirchner | Vice President of Business Development | $117,030 | 2024-11-25 |
| ...and 19 more key personnel |
Financials for Midwest Minnesota Community Development Corporation
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $2,419,265 | $1,306,800 | 85.1% |
| Program services | $5,853,179 | $6,272,934 | -6.7% |
| Investment income and dividends | $51,765 | $62,239 | -16.8% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $-2,006,114 | $642,138 | -412.4% |
| Total revenues | $6,318,095 | $8,284,111 | -23.7% |
Organizations like Midwest Minnesota Community Development Corporation
| Organization | Type | Location | Revenue |
|---|
| Ohio Community Development Finance Fund | 501(c)(3) | Columbus, OH | $16,922,285 |
| Coastal Enterprises (CEI) | 501(c)(3) | Brunswick, ME | $22,641,314 |
| Community Loan Fund of New Jersey | 501(c)(3) | New Brunswick, NJ | $19,077,899 |
| Mountain Association | 501(c)(3) | Berea, KY | $8,094,633 |
| Locus Impact Fund | 501(c)(3) | Christiansburg, VA | $9,556,651 |
| I2e | 501(c)(3) | Oklahoma City, OK | $6,662,200 |
| Florida Community Loan Fund (FCLF) | 501(c)(3) | Orlando, FL | $15,185,807 |
| South Carolina Community Loan Fund | 501(c)(3) | Charleston, SC | $6,646,393 |
| Washington Area Community Investment Fund | 501(c)(3) | Washington, DC | $7,616,507 |
| Community Vision Capital and Consulting | 501(c)(3) | San Francisco, CA | $10,403,968 |
Data update history
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 December 31, 2023
Used new vendors
Identified 2 new vendors, including , and
August 5, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Grantmaking organizationsBusiness 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 100
- Detroit Lakes, MN 56501
- County
- Becker County, MN
- Website URL
- mmcdc.com/Â
- Phone
- (218) 847-3191
- Facebook page
- Midwest-Minnesota-Community-Development-Corporation-MMCDCÂ
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
- 2024-11-20
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