Overview
What is Rocky Mountain Community Reinvestment Co?
The Rocky Mountain Community Reinvestment Co, or RMCRC, is a nonprofit Community Development Financial Institution (CDFI) based in Salt Lake City, Utah. Established in 1999, it began granting loans in the year 2000, serving as a catalyst for community development by offering flexible financing for affordable housing to assist residents in the Rocky Mountain region with low to moderate income. RMCRC collaborates with member banks, utilizing their pooled funds under the Intercreditor Agreement (ICA) and the sale of direct loan participations to finance loans for mortgagors. The organization's mission is to facilitate the development and preservation of affordable housing and community facilities for underserved communities. With a team of 18 employees, RMCRC maximizes the leverage of public and private dollars and provides technical assistance to project sponsors.
Official website here: www.rmcrc.org
Is Rocky Mountain Community Reinvestment Co legitimate?
Rocky Mountain Community Reinvestment Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rocky Mountain Community Reinvestment Co submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $568,603
Professional Fundraising Fees: $0
Other Salaries and Wages: $861,937
For more financial information, click here
What is the mission statement of Rocky Mountain Community Reinvestment Co?
The Rocky Mountain Community Reinvestment Corporation works towards facilitating the development and preservation of affordable housing and community facilities for low to moderate income families and underserved communities. Established in 1999, RMCRC is a nonprofit community development financial institution that cooperates with member banks to catalyze community development. It offers flexible financing for affordable, quality housing and collaborates with government agencies to maximize the impact of public and private dollars. RMCRC uses a pool of funds from its members and sells direct loan participations to fund loans to mortgagers. By registering as a Community Development Institution Fund (CDFI), RMCRC is dedicated to assisting residents in the Rocky Mountain region with essential housing needs.
Official website here: www.rmcrc.org
Who is the CEO of Rocky Mountain Community Reinvestment Co?
Steven J Nielsen is the Principal Officer of Rocky Mountain Community Reinvestment Co. The CEO's salary of Rocky Mountain Community Reinvestment Co is $243,140 and their total compensation is $341,381.
Official website here: www.rmcrc.org
What is the revenue of Rocky Mountain Community Reinvestment Co?
Rocky Mountain Community Reinvestment Co's revenue in 2022 was $14,309,085.
Official website here: www.rmcrc.org
Who are the executives of Rocky Mountain Community Reinvestment Co and what are their salaries?
The average compensation at Rocky Mountain Community Reinvestment Co during 2022 was $79,474. There are 18 employees and 17 volunteers at Rocky Mountain Community Reinvestment Co.
Here are 24 key members and their salaries (Rocky Mountain Community Reinvestment Co's CEO's salary is $243,140 and their total compensation is $341,381):
- Steven Nielsen (President & Ceo)
- Nicholas Berger (Chief Lending Officer)
- John Montgomery (Chief Risk Officer)
- Natasha Pfeiffer (Loan Officer)
- David Watkins (Former Treasurer & Cfo)
- David Rip (Treasurer & Cfo) [Trustee/Director]
- Mendi Leisure (Secretary) [Trustee/Director]
- Michael Palmer (Chair) [Trustee/Director]
- Sam Bentley (Vice Chair) [Trustee/Director]
- Stephanie White (Past Chair) [Trustee/Director]
- Chris Parker (Board Member) [Trustee/Director]
- Greg Rich (Board Member) [Trustee/Director]
- Jonathan Hanks (Board Member) [Trustee/Director]
- Derek Tuckett (Board Member) [Trustee/Director]
- Reed Dixon (Board Member) [Trustee/Director]
- Robert Likes (Board Member) [Trustee/Director]
- Sharlene Wilde (Board Member) [Trustee/Director]
- Spencer Mcallister (Board Member) [Trustee/Director]
- William Whetstone (Board Member) [Trustee/Director]
- Alysa Peterson (Board Member) [Trustee/Director]
- Annie Perizzolo (Board Member) [Trustee/Director]
- Dan Simpson (Board Member) [Trustee/Director]
- Jan Bergeson (Board Member) [Trustee/Director]
- Tony Milner (Board Member) [Trustee/Director]
Official website here: www.rmcrc.org
Where can I find the form 990 for Rocky Mountain Community Reinvestment Co?
The Rocky Mountain Community Reinvestment Co’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.rmcrc.org
Learn more at the official website: www.rmcrc.org
Mission Statement of Rocky Mountain Community Reinvestment Co
The Rocky Mountain Community Reinvestment Co, a nonprofit organization established in 1999, dedicates itself to fostering the availability of quality housing for residents in the Rocky Mountain region with low to moderate incomes and underserved communities. This Community Development Financial Institution (CDFI) facilitates the development and preservation of affordable housing projects by offering flexible financing solutions. Working in partnership with member banks, RMCRC acts as a catalyst for community development, utilizing a pool of funds and the sale of direct loan participations to finance mortgages for eligible borrowers. The organization is registered as a CDFI and is committed to maximizing the leverage of public and private dollars to benefit the local community. By providing technical assistance to project sponsors, RMCRC plays an integral role in ensuring the successful implementation of affordable housing initiatives.
Impact
This information is meant to be a general summary of Rocky Mountain Community Reinvestment Co. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Rocky Mountain Community Reinvestment Co's impact can be seen in its facilitation of the development and preservation of affordable housing and community facilities that serve low to moderate-income families and underserved communities in the Rocky Mountain region. By offering flexible financing for affordable, quality housing, collaborating with member banks, working with government agencies to leverage public and private dollars, and providing technical assistance to project sponsors, Rocky Mountain Community Reinvestment Co acts as a catalyst for community development. Through its efforts, the organization contributes to improving living conditions and access to housing for individuals and families in need in the Rocky Mountain region.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME FROM LOANS
Revenue
$13,154,734
OTHER LOAN REVENUE
Revenue
$782,631
LOAN ADMINISTRATION
Revenue
$371,720
Organization Details
Founding Year
1999
Phone
(801) 449-1860
Principal Officer
Steven J Nielsen
Main Address
64 E WINCHESTER STREET 330, SALT LAKE CITY, UT, 84107
Website
www.rmcrc.org
NTEE Category
Code: S31 - Community improvement
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