MONTANA DEVELOPMENT CORPORATION

EIN: 251672592 501(c)(3) Housing & Shelter

Pittsburgh, PA

Total Revenue
$36,804
Total Expenses
$48,821
Total Assets
$445,706
Net Assets
$-786,962
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
PA
Principal Officer
Richard Swartz
Phone
4124416950
Tax Period
2023-01-01 to 2023-12-31

MONTANA DEVELOPMENT CORPORATION, founded in 1991, is a micro nonprofit in the Housing & Shelter sector that reported $37K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $49K exceeded revenue, resulting in a 33% operating deficit.

Mission

The mission of the organization is to operate housing for low-income persons who are not being served by the private housing market. The Montana Apartments is a 16-unit apartment building that fulfills this mission for the organization. Montana Development Corporation does not own any other properties nor does it engage in any other activities.

Program Service Accomplishments

Program 1
Expenses: $48,821 Revenue: $36,804

Ownership and management of 16-unit apartment complex that is leased exclusively to low-income persons.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $36,804
TOTAL REVENUE $36,804

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $48,821
Other Expenses $48,821
TOTAL EXPENSES $48,821

Year-over-Year Comparison

2023 2022 Change
Revenue $36,804 $47,769 -0.2%
Expenses $48,821 $40,223 +0.2%
Net Income $-12,017 $7,546 -2.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
N/A
Employees
N/A
Volunteers
7

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$61,900
Total Directors
7
$61,900
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rick Swartz Assistant Secretary 2
Officer Director
$0 $0 $61,900
John Shivickas President 1
Officer Director
$0 $0 $0
Zach Restelli Assistant Treasurer 1
Officer Director
$0 $0 $0
Rochell Jackson Secretary 1
Officer Director
$0 $0 $0
Willa Whitehead Treasurer 1
Officer Director
$0 $0 $0
John Wright Director 1
Director
$0 $0 $0
Ben Ledewitz Director 1
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $36,804 $48,821 $445,706 $-12,017
2022 $47,769 $40,223 $483,435 $7,546
2021 $51,752 $69,899 $497,428 $-18,147
2020 $62,610 $73,326 $537,277 $-10,716
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