Overview
What is The Mortgage Capital Development Corporation?
The Mortgage Capital Development Corporation, also known as TMC Financing, is a certified development company based in Oakland, California, with a workforce of 100 employees. Their mission is to contribute to the economic growth of their region by collaborating with the Small Business Administration (SBA) and private-sector lenders to provide financing to small businesses. By facilitating access to long-term fixed rate financing for major asset purchases such as land and buildings, TMC Financing helps small businesses create and retain jobs. As an intermediary, they assist small businesses and individuals in acquiring SBA loans and monitor those loans on the SBA's behalf.
Official website here: www.tmcfinancing.com
Is The Mortgage Capital Development Corporation legitimate?
The Mortgage Capital Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. The Mortgage Capital Development Corporation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,706,444
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,872,361
For more financial information, click here
Official website here: www.tmcfinancing.com
What is the mission statement of The Mortgage Capital Development Corporation?
The Mortgage Capital Development Corporation functions as a certified development company, focusing primarily on assisting small businesses and individuals in obtaining Small Business Administration (SBA) loans. Once the loans are secured, the organization monitors them on the SBA's behalf. By collaborating with the SBA and private-sector lenders, the organization contributes significantly to the economic development of its region. The program enables small businesses to access long-term fixed rate financing for major asset purchases, facilitating job creation and retention.
Official website here: www.tmcfinancing.com
Who is the CEO of The Mortgage Capital Development Corporation?
Barbara Morrison is the Board Member of The Mortgage Capital Development Corporation.
Official website here: www.tmcfinancing.com
What is the revenue of The Mortgage Capital Development Corporation?
The Mortgage Capital Development Corporation's revenue in 2022 was $19,772,313.
Official website here: www.tmcfinancing.com
Who are the executives of The Mortgage Capital Development Corporation and what are their salaries?
The average compensation at The Mortgage Capital Development Corporation during 2022 was $125,788. There are 100 employees at The Mortgage Capital Development Corporation.
Here are 23 key members and their salaries:
- Compensation: $1,284
- Related: $0
- Other: $0
- Compensation: $379
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $374
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $1,581
- Related: $0
- Other: $0
- Compensation: $1,800
- Related: $0
- Other: $0
- Compensation: $1,574
- Related: $0
- Other: $0
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $892,481
- Related: $0
- Other: $185,774
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $828,653
- Related: $0
- Other: $28,880
- Compensation: $364,198
- Related: $0
- Other: $16,279
- Compensation: $322,654
- Related: $0
- Other: $28,775
- Compensation: $425,671
- Related: $0
- Other: $24,940
- Compensation: $255,124
- Related: $0
- Other: $14,816
- Compensation: $372,119
- Related: $0
- Other: $28,972
- Compensation: $492,524
- Related: $0
- Other: $21,779
- Compensation: $345,070
- Related: $0
- Other: $27,612
Official website here: www.tmcfinancing.com
Where can I find the form 990 for The Mortgage Capital Development Corporation?
The Mortgage Capital Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tmcfinancing.com
Learn more at the official website: www.tmcfinancing.com
Mission Statement of The Mortgage Capital Development Corporation
The Mortgage Capital Development Corporation, or MCDC, plays a significant role in the economic development of its region by collaborating with the Small Business Administration (SBA) and private-sector lenders. Its primary objective is to help small businesses and individuals secure SBA loans and subsequently monitor those loans on behalf of the SBA.
In simple terms, MCDC serves as a facilitator, making it easier for small businesses to access long-term, fixed-rate financing for major investments such as purchasing land and buildings. This financing is crucial for small businesses, enabling them to create and retain jobs in their communities.
MCDC's mission is twofold. First and foremost, they work closely with the Small Business Administration and private lenders to provide financing solutions to small businesses. By doing so, they contribute to the economic growth of their region. Second, they ensure the successful implementation of these loans by monitoring them on behalf of the SBA. This added layer of support increases the chances of businesses thriving with their newly acquired financing.
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Impact
October, 2024
The Mortgage Capital Development Corporation plays a crucial role in facilitating economic growth within the region by aiding small businesses and individuals in obtaining SBA loans. By working closely with the SBA and private-sector lenders, the organization streamlines access to long-term, fixed-rate financing, enabling small businesses to invest in essential fixed assets like land and buildings.
This support not only fosters business stability but also drives job creation and retention, significantly contributing to community improvement and economic vitality in Oakland, CA. Through its loan monitoring efforts, the organization ensures that these financial resources are utilized effectively, enhancing the overall health of the local economy.
This information is meant to be a general summary of The Mortgage Capital Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: $203,478
- Program Service Revenue: $19,243,247
- Gross Receipts: $19,772,313
Assets and Liabilities:
- Total Assets: $21,214,459
- Total Liabilities: $6,813,765
- Net Assets: $14,400,694
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING FEES
Revenue
$8,597,502
LOAN PROCESSING FEES
Revenue
$8,057,465
PPP LOAN INTEREST INCOME
Revenue
$1,893,800
FLOAT INTEREST INCOME
Revenue
$694,480
Organization Details
Founding Year
1996
Phone
(415) 989-8855Principal Officer
Barbara Morrison
Main Address
1611 TELEGRAPH 504, OAKLAND, CA, 94612
Website
www.tmcfinancing.comNTEE Category
Code: S43 - Community improvement
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