2024-05-15T17:16:25-04:00 2023-12-31 883651234 PHILLIPS CPAS & ADVISORS 201 LAVINIA AVE GREENVILLE SC 29601 990 2023-01-01 141864873 MOUNTAIN BIZCAPITAL INC MOUN 8282532834 153 SOUTH LEXINGTON ASHEVILLE NC 28801 MATTHEW RAKER EXECUTIVE DIRECTOR 8282532834 2024-05-15 true MATTHEW RAKER XXX-XX-XXXX false MATTHEW V PHILLIPS P01360869 8642361380 2024-05-15 2023 2023-04-26 12:10:37Z MOUNTAIN BIZWORKS MATTHEW RAKER 153 SOUTH LEXINGTON ASHEVILLE NC 28801 6406300 false X WWW.MOUNTAINBIZWORKS.ORG X 2002 NC MOUNTAIN BIZWORKS CREATES ECONOMIC OPPORTUNITY FOR THE PEOPLE OF WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, GROW, AND CREATE JOBS THROUGH SMALL BUSINESS LEARNING AND LENDING. 12 12 34 0 3969096 3559721 2150902 2682080 4701 161842 2657 6124699 6406300 0 0 2104868 2390906 0 112269 2018384 2292669 4123252 4683575 2001447 1722725 30003155 35233771 16319797 19827688 13683358 15406083 X MOUNTAIN BIZWORKS ENVISIONS A THRIVING WESTERN NORTH CAROLINA IN WHICH SMALL BUSINESS OWNERS AND ASPIRING ENTREPRENEURS HAVE ACCESS TO THE RESOURCES NEEDED TO MAKE THEIR DREAMS A REALITY - A REGION WHERE COLLABORATION, CREATIVITY, INNOVATION, AND INVESTMENT GENERATE OPPORTUNITY AND PROSPERITY FOR ALL. MOUNTAIN BIZWORKS' MISSION IS TO BUILD A VIBRANT AND INCLUSIVE ENTREPRENEURIAL COMMUNITY IN WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, GROW, AND THRIVE. WHEN SMALL BUSINESSES SUCCEED, WE ALL PROSPER. false false 4044139 2682080 MOUNTAIN BIZCAPITAL (MBC) IS A NOT-FOR-PROFIT CORPORATION ESTABLISHED 34 YEARS AGO. THE PRIMARY PURPOSE OF MBC IS TO PROVIDE DIRECT MICRO AND SMALL BUSINESS LOANS TO EXPAND ECONOMIC OPPORTUNITIES IN LOW INCOME AND OTHER UNDERBANKED COMMUNITIES. SINCE ITS EXISTENCE, MBC HAS PROVIDED 121.4 MILLION IN FINANCING TO OVER 4,004 BUSINESSES WHICH HAVE CREATED 9,759 JOBS ACROSS WESTERN NORTH CAROLINA. IN APRIL 2003, MBC WAS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION BY THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION FUND OF THE US DEPARTMENT OF TREASURY. THE ORGANIZATION IS CLASSIFIED AS A PUBLICLY- SUPPORTED CHARITABLE ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. 4044139 true false false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false true false false false false false false false false false false true false false false true 77 0 true 34 true false false false false false false false false false false false false false false X 12 12 false false false false false false false true true false false false true true true true true true false false X X MATT RAKER 8282532834 153 SOUTH LEXINGTON AVENUE ASHEVILLE NC 28801 MATTHEW RAKER EXECUTIVE DI 40.00 X 141678 0 0 DUANE ADAMS MEMBER 1.00 X 0 0 0 ZANE ADAMS 2ND VICE CHA 1.00 X 0 0 0 JOSE INFANZON CHAVEZ MEMBER 1.00 X 0 0 0 CHAD HALLIDAY MEMBER 1.00 X 0 0 0 TIM HERDKLOTZ VICE CHAIR 1.00 X 0 0 0 STEPHANIE LEE MEMBER 1.00 X 0 0 0 LEAH MAYBERRY TREASURER 1.00 X 0 0 0 SOPHIA PAULOS CHAIR 1.00 X 0 0 0 MITZI REED MEMBER 1.00 X 0 0 0 PAULA SWEPSON SECRETARY 1.00 X 0 0 0 BRANDON WALLACE MEMBER 1.00 X 0 0 0 TERRY YOUNG MEMBER 1.00 X 0 0 0 141678 1 false false false 2766819 792902 3559721 INTEREST INCOME 1995111 1995111 LOAN SERVICE FEES 686969 686969 2682080 161842 161842 OTHER INCOME 2657 2657 2657 6406300 2684737 161842 141678 117593 18418 5667 1888120 1567139 245456 75525 206199 171145 26806 8248 154909 128575 20138 6196 18011 14950 2341 720 13146 10911 1709 526 8299 6888 1079 332 137623 114228 17889 5506 65374 54260 8499 2615 66567 55250 8654 2663 85232 70742 11081 3409 222730 89092 133638 28656 28656 21559 17894 2803 862 COACHES & CONTRACTORS 770313 770313 LOAN LOSS EXPENSE 686525 686525 OTHER 168634 168634 4683575 4044139 527167 112269 13929466 15164236 492794 495906 279290 126144 14494951 18651581 18426 18426 1285881 628051 686486 657830 101742 119648 30003155 35233771 293467 160801 15701 12187 10786330 10461944 2950000 4397128 2274299 4795628 16319797 19827688 X 9438476 11426998 4244882 3979085 13683358 15406083 30003155 35233771 1722725 X false true X true true true X 1439798 2848877 4491015 3969096 3559721 16308507 1439798 2848877 4491015 3969096 3559721 16308507 16308507 923168 889859 3800 4701 161842 1983370 88928 110470 6439 2657 208494 18500371 11345020 0.88150 0.82760 X PART II, LINE 10 COMMUNITY ADVANTAGE 7A SERVICING 87,616 VARIOUS OTHER INCOME 120,878 1154529 496699 657830 114292 114292 17060 17060 657830 DEFERRED REVENUE 2787415 OTHER LIABILITIES 1969011 PAYROLL LIABILITIES 39202 4795628 X 6406300 6406300 6406300 4683575 4683575 4683575 SCHEDULE D, PAGE 3, PART X THE ORGANIZATION RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. MANAGEMENT BELIEVES THE ADOPTION OF ASC 740-10 RESULTED IN NO SIGNIFCANT IMPACT TO THE ORGANIZATION'S FINANCIAL STATEMENTS. MATTHEW RAKER STAFF INVESTMENT NOTE X 5000 5000 false true true TIM HERDKLOTZ BOARD MEMBER INVESTMENT NOTE X 3537 3829 false true true CHRISTOPHER MURREY STAFF INVESTMENT NOTE X 2013 2333 false true true SQUIBB KAREEN BONCALES STAFF INVESTMENT NOTE X 10000 1025 false true true 12187 FORM 990, PAGE 1, ITEM C MOUNTAIN BIZWORKS FORM 990 - ORGANIZATION'S MISSION MOUNTAIN BIZWORKS ENVISIONS A THRIVING WESTERN NORTH CAROLINA IN WHICH SMALL BUSINESS OWNERS AND ASPIRING ENTREPRENEURS HAVE ACCESS TO THE RESOURCES NEEDED TO MAKE THEIR DREAMS A REALITY - A REGION WHERE COLLABORATION, CREATIVITY, INNOVATION, AND INVESTMENT GENERATE OPPORTUNITY AND PROSPERITY FOR ALL. MOUNTAIN BIZWORKS' MISSION IS TO BUILD A VIBRANT AND INCLUSIVE ENTREPRENEURIAL COMMUNITY IN WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, GROW, AND THRIVE. WHEN SMALL BUSINESSES SUCCEED, WE ALL PROSPER. FORM 990, PAGE 6, PART VI, LINE 11B THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTANT WITH ASSISTANCE AND OVERSIGHT BY MANAGEMENT. UPON COMPLETION AND REVIEW, THE RETURN WAS REVIEWED IN DETAIL BY THE BOARD FINANCE COMMITTEE AND PROVIDED ELECTRONICALLY TO ALL VOTING BOARD MEMBERS PRIOR TO SUBMISSION TO THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATIONS'S CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AT A MEETING OF THE BOARD OF DIRECTORS, AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS THROUGHOUT THE YEAR. THE POLICY IS PROVIDED TO AND REVIEWED WITH ALL NEW EMPLOYEES AT HIRE. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR TOP OFFICIAL INITIALLY WAS MADE IN ACCORDANCE OF LOCAL, REGIONAL AND NATIONAL NON-PROFIT COMPENSATION RANGES AND IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S ADMINISTRATIVE OFFICE.