Nonprofit · EIN 41-0972298
MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · DETROIT LAKES, MN 56501
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $25,316,666 | $16,636,513 | $8,680,153 | $105,429,607 | $20,896,441 | $84,533,166 |
| December 31, 2023 | 990 | $6,717,967 | $5,081,680 | $1,636,287 | $81,350,440 | $5,497,427 | $75,853,013 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $15,516,722
- of which government grants
- $714,616
- Program service revenue
- $6,705,510
- Investment income
- $334,892
- Other revenue
- $2,759,542
Expenses
- Grants and similar amounts paid
- $810,307
- Compensation of officers, directors and key employees
- $1,479,031
- Other salaries and wages
- $1,528,661
- Salaries, compensation and benefits (total)
- $3,427,573
- Professional fundraising fees
- $0
- Legal fees
- $39,496
- Accounting fees
- $78,242
- Occupancy
- $324,425
- Travel
- $91,917
- Depreciation
- $350,173
- Program services (functional)
- $15,406,305
- Management and general (functional)
- $921,875
- Fundraising (functional)
- $308,333
Balance sheet and other
- Total assets, start of year
- $81,350,440
- Total assets, end of year
- $105,429,607
- Total liabilities, end of year
- $20,896,441
- Net assets, end of year
- $84,533,166
- Land, buildings and equipment
- $5,915,265
- Net assets without donor restrictions
- $84,533,166
- Gross receipts
- $25,316,666
- Employees
- 44
- Volunteers
- 25
- Year formed
- 1971
- State of legal domicile
- MN
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIA NELMARK | PRESIDENT Officer | 50 | $358,337 | $65,250 |
| MATTHEW NELSON | CHIEF FINANCIAL OFFICER Officer | 50 | $169,979 | $8,499 |
| TIM SWENSON | MGR NEW MARKET TAX CREDIT Highest-paid employee | 45 | $129,344 | $32,026 |
| JAMIE MARKS ERICKSON | DEVELOPMENT OFFICER Highest-paid employee | 45 | $127,979 | $26,749 |
| NICOLE KIRCHNER | VP BUSINESS DEVELOPMENT Highest-paid employee | 45 | $130,961 | $14,548 |
| KAREN LARSON | VP MORTGAGE LENDING Highest-paid employee | 45 | $134,649 | $10,252 |
| LAURA MCKNIGHT | DIRECTOR OF HOUSING & RE Highest-paid employee | 45 | $112,877 | $11,644 |
| PAUL IHLE | DIRECTOR Trustee or director | 2 | $12,750 | $0 |
| GARY THIBERT | CHAIR Trustee or director, Officer | 2 | $5,750 | $0 |
| BREANNA ADAMS | SECRETARY Trustee or director, Officer | 2 | $5,500 | $0 |
| LORI GUENTHER | VICE CHAIR Trustee or director, Officer | 2 | $5,500 | $0 |
| JEFF HAUKEBO | TREASURER Trustee or director, Officer | 2 | $5,000 | $0 |
| JIM DAGG | DIRECTOR Trustee or director | 2 | $5,000 | $0 |
| LISA WEBER | DIRECTOR Trustee or director | 2 | $5,000 | $0 |
| LESTER LILJEDAHL | DIRECTOR Trustee or director | 2 | $4,750 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MONICA HEDSTROM | DIRECTOR Trustee or director | 2 | $4,500 |
| MELINDA IVERSON | DIRECTOR Trustee or director | 2 | $4,500 |
| MARIA LINDSTROM | DIRECTOR Trustee or director | 2 | $4,500 |
| MARK FINSTAD | DIRECTOR Trustee or director | 2 | $3,750 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIA NELMARK | PRESIDENT Officer | 50 | $347,022 | $64,000 |
| SCOTT OMLID | CHIEF FINANCIAL OFFICER Officer | 50 | $200,350 | $21,097 |
| STEVE WIEBOLT | VP ADMINISTRATION Highest-paid employee | 45 | $150,544 | $39,532 |
| TIM SWENSON | MGR NEW MARKET TAX CREDIT Highest-paid employee | 45 | $122,832 | $35,475 |
| JAMIE MARKS ERICKSON | DEVELOPMENT OFFICER Highest-paid employee | 45 | $111,404 | $34,858 |
| KAREN LARSON | VP MORTGAGE LENDING Highest-paid employee | 45 | $117,630 | $24,910 |
| NICOLE KIRCHNER | VP BUSINESS DEVELOPMENT Highest-paid employee | 45 | $124,565 | $14,751 |
| LAURA MCKNIGHT | DIRECTOR OF HOUSING & RE Highest-paid employee | 45 | $108,493 | $11,425 |
| PAUL IHLE | DIRECTOR Trustee or director, Officer | 2 | $9,000 | $0 |
| LESTER LILJEDAHL | DIRECTOR Trustee or director | 2 | $5,750 | $0 |
| LORI GUENTHER | VICE CHAIR Trustee or director, Officer | 2 | $5,500 | $0 |
| BREANNA ADAMS | SECRETARY Trustee or director, Officer | 2 | $5,250 | $0 |
| JEFF HAUKEBO | TREASURER Trustee or director, Officer | 2 | $5,000 | $0 |
| JIM DAGG | DIRECTOR Trustee or director | 2 | $5,000 | $0 |
| MARIA LINDSTROM | DIRECTOR Trustee or director | 2 | $4,750 | $0 |
| GARY THIBERT | CHAIR Trustee or director, Officer | 2 | $4,500 | $0 |
| LISA WEBER | DIRECTOR Trustee or director | 2 | $4,000 | $0 |
| MARK FINSTAD | DIRECTOR Trustee or director | 2 | $3,500 | $0 |
| MONICA HEDSTROM | DIRECTOR Trustee or director | 2 | $3,250 | $0 |
| DAN STEVENS | DIRECTOR Trustee or director | 2 | $3,000 | $0 |
| MELINDA IVERSON | DIRECTOR Trustee or director | 2 | $2,500 | $0 |
| DAVID BURGGRAF | DIRECTOR Trustee or director | 2 | $1,500 | $0 |
| MARIA PRETZER | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 119 GRAYSTONE PLZ STE 100, DETROIT LAKES, MN 56501-3034
- Principal officer (990 for 2024)
- JULIA NELMARK, 119 GRAYSTONE PLAZA SUITE 100, DETROIT LAKES, MN 565013034
- Signed the 990
- JULIA NELMARK, PRESIDENT
- Phone
- (218) 847-3191
- Website
- WWW.MMCDC.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE MISSION OF MMCDC IS TO ASSIST COMMUNITIES AND INDIVIDUALS ACHIEVE A BETTER QUALITY OF LIFE.
Program accomplishments
- AFFORDABLE HOUSING LENDING: MMCDC PROVIDED 166 FIRST TIME HOME BUYER MORTGAGE LOANS. WE ALSO PROVIDED 6 HOME PURCHASE LOANS, 1 REFINANCING LOANS, 1 HOME IMPROVEMENT LOANS AND 160 ADDITIONAL DOWN-PAYMENT ASSISTANCE LOANS TO LOW-INCOME PEOPLE AND PLACES.Expenses $12,513,174 · grants $810,307 · revenue $5,004,248
- BUSINESS DEVELOPMENT: MMCDC PROVIDED COMMERCIAL AND NEW MARKETS TAX CREDIT LOANS TOTALING $5,109,460 IN 2024. THIS INVESTMENT IS EXPECTED TO CREATE 18 NEW JOBS. IT ALSO SUPPORTS PURCHASE, CONSTRUCTION, OR IMPROVEMENT OF 57,633 SQUARE FEET OF COMMERCIAL REAL ESTATE. 76% OF THE DOLLARS WERE INVESTED IN DISADVANTAGED COMMUNITIES, 56% IN RURAL COMMUNITIES, AND 27% OF THE BORROWERS WERE MINORITY, OR LOW-INCOME OWNED OR CONTROLLED BUSINESSES.Expenses $1,722,851 · revenue $3,617,780
- AFFORDABLE HOUSING DEVELOPMENT: WE MANAGED 278 RENTAL UNITS (28 COMMERCIAL AND 250 RESIDENTIAL) AS WELL AS A COUNTY EDA'S HOUSING VOUCHER PROGRAM, PROVIDING 59 VOUCHERS TO PEOPLE IN NEED OF STABLE HOUSING.Expenses $1,170,280 · revenue $843,024
- 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.
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 | Not 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
- 41-0972298
- 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
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S400)
- Assets (IRS master file)
- $105,429,607
- Income (IRS master file)
- $25,316,666
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $25,316,666 | $16,636,513 | $105,429,607 | IRS |
| 990 | December 2023 | $6,717,967 | $5,081,680 | $81,350,440 | XML |
| 990 | December 2022 | $6,318,095 | $5,398,526 | $79,318,282 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 41-0972298).
Questions about MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION is 41-0972298.
- Is MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION 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 MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names JULIA NELMARK.
- Who are the officers and directors of MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 19 people; 19 received compensation from the organization, the highest $358,337 (JULIA NELMARK, PRESIDENT).
- How much revenue does MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $25,316,666, expenses of $16,636,513 and total assets of $105,429,607 at year end.
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