Montana Homeownership Network Inc
- Assets
- $44.1m
- Revenue
- $7.8m
- Investments
- $429.9k
- Employees
- 27
- Location
- Great Falls, MT
- Founding
- 04/2002
- Data as of
- 09/2023
- EIN
- 81-0543240
Organization Overview
Montana Homeownership Network Inc, operating under the name Neighborworks Montana, is located in Great Falls, MT. The organization was established in 2002. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Neighborworks Montana employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Montana is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Neighborworks Montana generated $7.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $4.4m during the year ending 09/2023. While expenses have increased by 6.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Neighborworks Montana has awarded 113 individual grants totaling $6,961,474. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES AND IMPROVE THE AVAILABILITY OF AFFORDABLE RENTALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FISCAL YEAR 2023, NEIGHBORWORKS MONTANA PRESERVED THE AFFORDABILITY OF 253 HOMES, CREATED 30 HOMEOWNERS THROUGH EDUCATION AND DOWN PAYMENT ASSISTANCE, AND GRADUATED 1,341 MONTANANS FROM HOMEBUYER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Pavek 1st Vice President | OfficerTrustee | 2 | $0 |
Tom Jacobson Treasurer | OfficerTrustee | 2 | $0 |
Peggy Trenk Secretary | OfficerTrustee | 2 | $0 |
Andrea Davis President | OfficerTrustee | 2 | $0 |
Bruce Brensdal Director | Trustee | 2 | $0 |
Shanell Teigen Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,941,149 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,577 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,946,726 |
| Total Program Service Revenue | $1,664,951 |
| Investment income | $144,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,755,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,729,060 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $280,548 |
| Compensation of current officers, directors, key employees. | $203,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $894,939 |
| Pension plan accruals and contributions | $52,693 |
| Other employee benefits | $139,342 |
| Payroll taxes | $86,958 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,957 |
| Fees for services: Accounting | $20,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,456 |
| Office expenses | $0 |
| Information technology | $43,703 |
| Royalties | $0 |
| Occupancy | $31,088 |
| Travel | $55,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $118,509 |
| Interest | $225,471 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,231 |
| Insurance | $18,137 |
| All other expenses | $138,445 |
| Total functional expenses | $4,372,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,277,581 |
| Savings and temporary cash investments | $272,833 |
| Pledges and grants receivable | $349,123 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,491,186 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,275 |
| Net Land, buildings, and equipment | $101,879 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $429,893 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,638 |
| Total assets | $44,101,408 |
| Accounts payable and accrued expenses | $264,727 |
| Grants payable | $0 |
| Deferred revenue | $603,261 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,531,207 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,742,445 |
| Total liabilities | $14,141,640 |
| Net assets without donor restrictions | $12,272,932 |
| Net assets with donor restrictions | $17,686,836 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $44,101,408 |
Grants Awarded
Over the last fiscal year, Montana Homeownership Network Inc has awarded $1,061,171 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
DISTRICT 7 HUMAN RESOURCES DEVELOPMENT COUNCIL INC PURPOSE: GENERAL HOUSING COUNSELING | $80,340 |
HEADWATERS RC&D AREA INC PURPOSE: GENERAL HOUSING COUNSELING | $20,229 |
HOMEWORD INC PURPOSE: GENERAL HOUSING COUNSELING | $162,238 |
HUMAN RESOURCE DEVELOPMENT COUNCIL OF DISTRICT IX INC PURPOSE: GENERAL HOUSING COUNSELING | $234,140 |
NEIGHBORHOOD HOUSING SERVICES INC OF GREAT FALLS PURPOSE: FORECLOSURE COUNSELING, GENERAL HOUSING COUNSELING | $146,373 |
NORTHWEST MONTANA HUMAN RESOURCES INC DBA COMMUNITY ACTION PARTNERSHIP OF PURPOSE: GENERAL HOUSING COUNSELING | $22,451 |