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MOUNTAIN BIZWORKS CREATES ECONOMIC OPPORTUNITY FOR THE PEOPLE OF WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, GROW, AND CREATE JOBS THROUGH SMALL BUSINESS LEARNING AND LENDING.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$12.9M
Program Spending
86%
of total expenses go to program services
Total Contributions
$8.5M
Total Expenses
▼$5.8M
Total Assets
$50.6M
Total Liabilities
▼$28.1M
Net Assets
$22.5M
Officer Compensation
→$153.1K
Other Salaries
$2.3M
Investment Income
$0
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$28.1M
Awards Found
52
Department of the Treasury
$4M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of Commerce
$2.4M
SUBSTANTIAL AGENCY INVOLVEMENT: MBDA WILL BE SUBSTANTIALLY INVOLVED IN THE ACTIVITIES OF THIS PROGRAM, INCLUDING BUT NOT LIMITED TO: PROVIDING TRAINING RELATING TO THE PURPOSE OF THIS PROGRAM, ELIGIBLE ACTIVITIES, AND PROGRAM PERFORMANCE GOALS. REQUIRING RECIPIENTS TO PARTICIPATE IN A PRE-IMPLEMENTATION CONFERENCE WITH MBDA TO REVIEW THE PROPOSED TECHNICAL ASSISTANCE, SERVICES, AND PERFORMANCE GOALS THAT THE RECIPIENT WILL PROVIDE AND MEASURE. PROVIDING NECESSARY GUIDANCE AND FACILITATING COLLABORATIONS WITH OTHER MBDA PROGRAMS AND INITIATIVES, JURISDICTIONS RECEIVING SSBCI FUNDS FROM THE U.S. DEPARTMENT OF TREASURY, AND FEDERAL AGENCIES OTHER THAN MBDA, AS APPROPRIATE. MONITORING ACTIVITIES CARRIED OUT BY THE AWARDEE, INCLUDING BY SOLICITING FEEDBACK FROM ENROLLED SEDI BUSINESSES. CONDUCTING PERIODIC PROGRAM EVALUATION AND PROVIDING FINDINGS FOR IMPROVEMENT. ESTABLISHING AND ENFORCING ADMINISTRATIVE, COMMUNICATIONS, AND REPORTING REQUIREMENTS FOR EACH AWARDEE. PROV
Department of the Treasury
$1.3M
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$1M
MOUNTAIN BIZCAPITAL, INC. NC THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$848.2K
TRAINING AND TECHNICAL ASSISTANCE TO SBA MICROLOAN BORROWERS AND PROSPECTIVE BORROWERS
Small Business Administration
$792.9K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$779.4K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE
Small Business Administration
$749.3K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$273.7K
MICROLOAN TECHNICAL ASSISTANCE GRANT
Small Business Administration
$191.4K
MICROLOAN TECHNICAL ASSISTANCE GRANT
Small Business Administration
$172.3K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Department of Agriculture
$158.1K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Small Business Administration
$130K
MOUNTAIN BIZ CAPITAL INC. - NC - FY 23 PRIME TECHNICAL ASSISTANCE
Department of Agriculture
$107.4K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$105K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Small Business Administration
$94K
MOUNTAIN BIZWORKS IS A NONPROFIT CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WITH A MISSION TO GENERATE JOBS AND ENSURE ECONOMIC RESILIENCY IN RURAL WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, THRIVE, AND GROW. FOR 30 YEARS, MBW HAS PROVIDED MICROLOANS AND PEER-TO-PEER BUSINESS COACHING TO THOSE THAT FIND IT DIFFICULT TO SECURE FUNDING FROM BANKS. THIS BLEND OF LENDING AND
Small Business Administration
$88.5K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS (PRIME), 15 U.S.C. ? 6901 NOTE; 13 C.F.R. PART 119
Department of Agriculture
$87.4K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$85.7K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$82.1K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Small Business Administration
$80K
MOUNTAIN BIZCAPITAL, INC. DBA MOUNTAIN BIZWORKS, NC THE PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS ACT OF 1999 (THE PRIME ACT) BECAME LAW ON NOVEMBER 12, 1999 WITH THE PASSAGE OF PUB. L. NO. 106-102 (15 U.S.C. 6901 NOTE). THE PRIME ACT AUTHORIZES THE SBA ADMINISTRATOR TO ESTABLISH A PROGRAM FOR THE PURPOSES OF: (I) PROVIDING TRAINING AND TECHNICAL ASSISTANCE TO DISADVANTAGED ENTREPRENEURS; (II
Small Business Administration
$80K
EXPANDING MICROENTERPRISE SUCCESS ACROSS RURAL WNC
Small Business Administration
$75K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS - PRIME
Department of Agriculture
$74.2K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$73.7K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$50.7K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$47.9K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$37.9K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$37.5K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$34.1K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$32.7K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $11.9M | Yes | 2026-04-29 |
| 2024 | Clean | Unmodified (Clean) | $11.7M | Yes | 2025-05-07 |
| 2023 | Clean | Unmodified (Clean) | $10.9M | Yes | 2024-04-30 |
| 2022 | Clean | Unmodified (Clean) | $11.1M | Yes | 2023-05-08 |
| 2021 | Clean | Unmodified (Clean) | $9.9M | Yes | 2022-08-29 |
| 2020 | Clean | Unmodified (Clean) | $8.2M | Yes | 2021-05-19 |
| 2019 | Clean | Unmodified (Clean) | $7.3M | Yes | 2020-04-21 |
| 2018 | Clean | Unmodified (Clean) | $6.8M | Yes | 2019-04-14 |
| 2017 | Clean | Unmodified (Clean) | $5.5M | Yes | 2018-06-11 |
| 2016 | Clean | Unmodified (Clean) | $2.1M | Yes | 2017-05-14 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$10.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$9.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$8.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$7.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.1M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $12.9M | $8.5M | $5.8M | $50.6M | $22.5M |
| 2023IRS e-File | $6.4M | $3.6M | $4.7M | $35.2M | $15.4M |
| 2022 | $6.1M | $4M | $4.1M | $30M | $13.7M |
| 2021 | $7.2M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Matthew Raker | Executive Di | 40 | $153.1K | $0 | $0 | $153.1K |
Matthew Raker
Executive Di
$153.1K
Hrs/Wk
40
Compensation
$153.1K
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Brandon Wallace | Member | 1 | $0 | $0 | $0 | $0 |
| Chad Halliday | Member | 1 | $0 | $0 | $0 | $0 |
| Duane Adams | Member | 1 | $0 | $0 | $0 | $0 |
| Jennifer Caldwell-Billstrom | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Jose Infanzon Chavez | Member | 1 | $0 | $0 | $0 | $0 |
| Joshua Carpenter | Member |
Brandon Wallace
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Chad Halliday
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Duane Adams
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $4.5M |
| $2.7M |
| $25.8M |
| $11.7M |
| 2020 | $5.3M | $2.8M | $3M | $18.7M | $7.1M |
| 2019 | $2.8M | $1.4M | $2.3M | $15M | $4.8M |
| 2018 | $3.2M | $1.9M | $1.9M | $14.4M | $4.4M |
| 2017 | $2.9M | $1.9M | $1.7M | $11.2M | $3.1M |
| 2016 | $1.4M | $519K | $1.2M | $7.5M | $1.8M |
| 2015 | $1.6M | $718.7K | $1M | $6.8M | $1.7M |
| 2014 | $878.1K | $484.5K | $776.3K | $5.5M | $1.2M |
| 2013 | $1.2M | $784.2K | $1.5M | $5.2M | $1.1M |
| 2012 | $1.3M | $915.9K | $1.6M | $5.3M | $1.4M |
| 2011 | $1.6M | $1.4M | $1.6M | $5M | $1.7M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Mitzi Reed | Member | 1 | $0 | $0 | $0 | $0 |
| Paula Swepson | Secretary | 1 | $0 | $0 | $0 | $0 |
| Stephanie Lee | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Terry Young | Member | 1 | $0 | $0 | $0 | $0 |
| Tim Herdklotz | 2nd Vice Cha | 1 | $0 | $0 | $0 | $0 |
| Yolanda Adams | Member | 1 | $0 | $0 | $0 | $0 |
| Zane Adams | Chair | 1 | $0 | $0 | $0 | $0 |
Jennifer Caldwell-Billstrom
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jose Infanzon Chavez
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joshua Carpenter
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mitzi Reed
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paula Swepson
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephanie Lee
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Terry Young
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Tim Herdklotz
2nd Vice Cha
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Yolanda Adams
Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Zane Adams
Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0