Nonprofit · EIN 14-1864873
MOUNTAIN BIZCAPITAL INC
Tax-exempt · ASHEVILLE, NC 28801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $10,084,752 | $5,420,997 | $4,663,755 | $51,818,239 | $24,671,165 | $27,147,074 |
| December 31, 2024 | 990 | $12,872,089 | $5,794,853 | $7,077,236 | $50,593,161 | $28,109,842 | $22,483,319 |
| December 31, 2023 | 990 | $6,406,300 | $4,683,575 | $1,722,725 | $35,233,771 | $19,827,688 | $15,406,083 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $5,161,846
- of which government grants
- $3,163,321
- Program service revenue
- $4,922,906
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $163,113
- Other salaries and wages
- $2,564,943
- Salaries, compensation and benefits (total)
- $3,247,832
- Professional fundraising fees
- $0
- Legal fees
- $17,537
- Accounting fees
- $17,930
- Occupancy
- $79,955
- Travel
- $95,112
- Depreciation
- $28,656
- Program services (functional)
- $4,705,271
- Management and general (functional)
- $558,351
- Fundraising (functional)
- $157,375
Balance sheet and other
- Total assets, start of year
- $50,593,161
- Total assets, end of year
- $51,818,239
- Total liabilities, end of year
- $24,671,165
- Net assets, end of year
- $27,147,074
- Land, buildings and equipment
- $600,519
- Net assets without donor restrictions
- $23,244,097
- Net assets with donor restrictions
- $3,902,977
- Gross receipts
- $10,084,752
- Employees
- 37
- Year formed
- 2002
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW RAKER | EXECUTIVE DI Officer | 40 | $163,113 |
| DUANE ADAMS | MEMBER Trustee or director | 1 | $0 |
| YOLANDA ADAMS | MEMBER Trustee or director | 1 | $0 |
| ZANE ADAMS | VICE CHAIR Trustee or director | 1 | $0 |
| JENNIFER CALDWELL-BILLSTROM | TREASURER Trustee or director | 1 | $0 |
| JOSHUA CARPENTER | MEMBER Trustee or director | 1 | $0 |
| JOSE INFANZON CHAVEZ | MEMBER Trustee or director | 1 | $0 |
| STEPHANIE LEE | CHAIR Trustee or director | 1 | $0 |
| HARRIS LIVINGSTAIN | MEMBER Trustee or director | 1 | $0 |
| MITZI REED | MEMBER Trustee or director | 1 | $0 |
| PAULA SWEPSON | SECRETARY Trustee or director | 1 | $0 |
| BRANDON WALLACE | MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW RAKER | EXECUTIVE DI Officer | 40 | $153,070 |
| DUANE ADAMS | MEMBER Trustee or director | 1 | $0 |
| YOLANDA ADAMS | MEMBER Trustee or director | 1 | $0 |
| ZANE ADAMS | CHAIR Trustee or director | 1 | $0 |
| JENNIFER CALDWELL-BILLSTROM | TREASURER Trustee or director | 1 | $0 |
| JOSHUA CARPENTER | MEMBER Trustee or director | 1 | $0 |
| JOSE INFANZON CHAVEZ | MEMBER Trustee or director | 1 | $0 |
| CHAD HALLIDAY | MEMBER Trustee or director | 1 | $0 |
| TIM HERDKLOTZ | 2ND VICE CHA Trustee or director | 1 | $0 |
| STEPHANIE LEE | VICE CHAIR Trustee or director | 1 | $0 |
| MITZI REED | MEMBER Trustee or director | 1 | $0 |
| PAULA SWEPSON | SECRETARY Trustee or director | 1 | $0 |
| BRANDON WALLACE | MEMBER Trustee or director | 1 | $0 |
| TERRY YOUNG | MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW RAKER | EXECUTIVE DI Officer | 40 | $141,678 |
| DUANE ADAMS | MEMBER Trustee or director | 1 | $0 |
| ZANE ADAMS | 2ND VICE CHA Trustee or director | 1 | $0 |
| JOSE INFANZON CHAVEZ | MEMBER Trustee or director | 1 | $0 |
| CHAD HALLIDAY | MEMBER Trustee or director | 1 | $0 |
| TIM HERDKLOTZ | VICE CHAIR Trustee or director | 1 | $0 |
| STEPHANIE LEE | MEMBER Trustee or director | 1 | $0 |
| LEAH MAYBERRY | TREASURER Trustee or director | 1 | $0 |
| SOPHIA PAULOS | CHAIR Trustee or director | 1 | $0 |
| MITZI REED | MEMBER Trustee or director | 1 | $0 |
| PAULA SWEPSON | SECRETARY Trustee or director | 1 | $0 |
| BRANDON WALLACE | MEMBER Trustee or director | 1 | $0 |
| TERRY YOUNG | MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 153 S LEXINGTON AVE, ASHEVILLE, NC 28801-3607
- In care of
- % CANDY WILLIAMS
- Principal officer (990 for 2025)
- MATTHEW RAKER, 153 SOUTH LEXINGTON, ASHEVILLE, NC 28801
- Signed the 990
- MATTHEW RAKER, EXECUTIVE DIRECTOR
- Phone
- (828) 253-2834
- Website
- WWW.MOUNTAINBIZWORKS.ORG
- Return prepared by
- PHILLIPS CPAS & ADVISORS
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.
Program accomplishments
- 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.Expenses $4,705,271 · revenue $4,922,906
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 14-1864873
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $51,818,239
- Income (IRS master file)
- $10,084,752
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $10,084,752 | $5,420,997 | $51,818,239 | IRS |
| 990 | December 2024 | $12,872,089 | $5,794,853 | $50,593,161 | IRS |
| 990 | December 2023 | $6,406,300 | $4,683,575 | $35,233,771 | XML |
| 990 | December 2022 | $6,124,699 | $4,123,252 | $30,003,155 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 14-1864873).
Questions about MOUNTAIN BIZCAPITAL INC
- What is the EIN of MOUNTAIN BIZCAPITAL INC?
- The employer identification number (EIN) of MOUNTAIN BIZCAPITAL INC is 14-1864873.
- Is MOUNTAIN BIZCAPITAL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to MOUNTAIN BIZCAPITAL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MOUNTAIN BIZCAPITAL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MOUNTAIN BIZCAPITAL INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MOUNTAIN BIZCAPITAL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MOUNTAIN BIZCAPITAL INC?
- The 990 for the year ended December 31, 2025 names MATTHEW RAKER.
- Who are the officers and directors of MOUNTAIN BIZCAPITAL INC?
- The 990 for the year ended December 31, 2025 lists 12 people; 1 received compensation from the organization, the highest $163,113 (MATTHEW RAKER, EXECUTIVE DI).
- How much revenue does MOUNTAIN BIZCAPITAL INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $10,084,752, expenses of $5,420,997 and total assets of $51,818,239 at year end.
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All nonprofits in ASHEVILLE · North Carolina · Philanthropy, voluntarism and grantmaking foundations