Civic Intelligence

Mountain Bizcapital Inc

EIN 14-1864873 • 501(c)3 • Asheville, NC

Profile

Mountain bizworks envisions a thriving western north carolina in which small business owners and aspiring entrepreneurs have access to the resources needed to make their dreams a reality - a region where collaboration, creativity, innovation, and investment generate opportunity and prosperity for all. Mountain bizworks' mission is to build a vibrant and inclusive entrepreneurial community in western north carolina by helping small businesses start, grow, and thrive. When small businesses succeed, we all prosper.

153 South LexingtonAsheville, NC 28801

www.mountainbizworks.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

0.56x

Higher debt load relative to assets than 97% of similar nonprofits.

NTEE T • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

2.18x

Higher debt load relative to revenue than 97% of similar nonprofits.

NTEE T • $50M-$100M nonprofits • Source year 2024

Net Margin

70th percentile

55%

Higher net margin than 70% of similar nonprofits.

NTEE T • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

69th percentile

$153,070

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

NTEE T • $50M-$100M nonprofits • Source year 2024

Asset Growth

90th percentile

44%

Faster asset growth than 90% of similar nonprofits.

NTEE T • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

101%

Faster revenue growth than 70% of similar nonprofits.

NTEE T • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$50,593,161

Up $15,359,390 (+44%) from 2023

Liabilities

Up

$28,109,842

Up $8,282,154 (+42%) from 2023

Net Assets

Up

$22,483,319

Up $7,077,236 (+46%) from 2023

Revenue

Up

$12,872,089

Up $6,465,789 (+101%) from 2023

Expenses

Up

$5,794,853

Up $1,111,278 (+24%) from 2023

Net Income

Up

$7,077,236

Up $5,354,511 (+311%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $4,075,445Liabilities 2010: $2,838,121Net Assets 2010: $1,237,3242010Assets 2011: $5,029,544Liabilities 2011: $3,376,586Net Assets 2011: $1,652,9582011Assets 2012: $5,280,768Liabilities 2012: $3,917,108Net Assets 2012: $1,363,6602012Assets 2013: $5,241,338Liabilities 2013: $4,155,367Net Assets 2013: $1,085,9712013Assets 2014: $5,498,303Liabilities 2014: $4,310,507Net Assets 2014: $1,187,7962014Assets 2015: $6,819,449Liabilities 2015: $5,123,802Net Assets 2015: $1,695,6472015Assets 2016: $7,492,862Liabilities 2016: $5,666,749Net Assets 2016: $1,826,1132016Assets 2017: $11,230,160Liabilities 2017: $8,114,934Net Assets 2017: $3,115,2262017Assets 2018: $14,399,194Liabilities 2018: $10,031,253Net Assets 2018: $4,367,9412018Assets 2019: $15,000,750Liabilities 2019: $10,195,793Net Assets 2019: $4,804,9572019Assets 2020: $18,722,823Liabilities 2020: $11,573,803Net Assets 2020: $7,149,0202020Assets 2021: $25,751,966Liabilities 2021: $14,070,055Net Assets 2021: $11,681,9112021Assets 2022: $30,003,155Liabilities 2022: $16,319,797Net Assets 2022: $13,683,3582022Assets 2023: $35,233,771Liabilities 2023: $19,827,688Net Assets 2023: $15,406,0832023Assets 2024: $50,593,161Liabilities 2024: $28,109,842Net Assets 2024: $22,483,3192024

Highlighted filing

2024

Assets$50,593,161
Liabilities$28,109,842
Net Assets$22,483,319

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $659,5582010Revenue 2011: $1,638,302Expenses 2011: $1,596,830Net Income 2011: $41,4722011Expenses 2012: $1,570,9942012Revenue 2013: $1,205,184Expenses 2013: $1,482,873Net Income 2013: -$277,6892013Revenue 2014: $878,145Expenses 2014: $776,320Net Income 2014: $101,8252014Revenue 2015: $1,620,641Expenses 2015: $1,021,631Net Income 2015: $599,0102015Revenue 2016: $1,379,248Expenses 2016: $1,248,782Net Income 2016: $130,4662016Revenue 2017: $2,947,735Expenses 2017: $1,658,622Net Income 2017: $1,289,1132017Revenue 2018: $3,175,538Expenses 2018: $1,922,823Net Income 2018: $1,252,7152018Revenue 2019: $2,758,732Expenses 2019: $2,321,716Net Income 2019: $437,0162019Revenue 2020: $5,329,263Expenses 2020: $2,985,200Net Income 2020: $2,344,0632020Revenue 2021: $7,220,157Expenses 2021: $2,687,266Net Income 2021: $4,532,8912021Revenue 2022: $6,124,699Expenses 2022: $4,123,252Net Income 2022: $2,001,4472022Revenue 2023: $6,406,300Expenses 2023: $4,683,575Net Income 2023: $1,722,7252023Revenue 2024: $12,872,089Expenses 2024: $5,794,853Net Income 2024: $7,077,2362024

Highlighted filing

2024

Revenue$12,872,089
Expenses$5,794,853
Net Income$7,077,236

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$50.6$28.1$22.5$12.9$5.79$7.08
2023Detailed filing. Detailed filing data is available for this year.$35.2$19.8$15.4$6.41$4.68$1.72
2022Detailed filing. Detailed filing data is available for this year.$30.0$16.3$13.7$6.12$4.12$2.00
2021Detailed filing. Detailed filing data is available for this year.$25.8$14.1$11.7$7.22$2.69$4.53
2020Detailed filing. Detailed filing data is available for this year.$18.7$11.6$7.15$5.33$2.99$2.34
2019Detailed filing. Detailed filing data is available for this year.$15.0$10.2$4.80$2.76$2.32$0.44
2018Detailed filing. Detailed filing data is available for this year.$14.4$10.0$4.37$3.18$1.92$1.25
2017Detailed filing. Detailed filing data is available for this year.$11.2$8.11$3.12$2.95$1.66$1.29
2016Detailed filing. Detailed filing data is available for this year.$7.49$5.67$1.83$1.38$1.25$0.13
2015Summary only. Only limited summary data is available for this year.$6.82$5.12$1.70$1.62$1.02$0.60
2014Detailed filing. Detailed filing data is available for this year.$5.50$4.31$1.19$0.88$0.78$0.10
2013Detailed filing. Detailed filing data is available for this year.$5.24$4.16$1.09$1.21$1.48$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$3.92$1.36$1.57
2011Summary only. Only limited summary data is available for this year.$5.03$3.38$1.65$1.64$1.60$0.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.08$2.84$1.24$0.66
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 9, 2025
Return Version
2024v5.0
Gross Receipts
$12,872,089
Mission and Program Overview

Mission

To generate jobs and stimulate economic opportunity for the people of western north carolina by helping small businesses start, thrive, and grow. We do this by providing loans and peer-to-peer business coaching to those businesses that are not able to secure funding from banks and other traditional sources.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$15,164,236$29,486,964▲ $14,322,728
Other Notes and Loans Receivable, Net$18,651,581$19,617,934▲ $966,353
Land, Buildings, and Equipment, Net$657,830$629,175▼ $28,655
Pledges and Grants Receivable$495,906$561,975▲ $66,069
Prepaid Expenses and Deferred Charges-$48,235-
Accounts Receivable$126,144$26,693▼ $99,451
Inventories for Sale or Use$18,426$18,426→ $0
Loans From Officers Directors$12,187$12,379▲ $192
Total Assets$35,233,771$50,593,161▲ $15,359,390
Other Assets Total$119,648$203,759▲ $84,111
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,461,944$11,235,746▲ $773,802
Other Liabilities$4,795,628$10,063,485▲ $5,267,857
Unsecured Notes Loans Payable$4,397,128$6,540,943▲ $2,143,815
Accounts Payable and Accrued Expenses$160,801$257,289▲ $96,488
Total Liabilities$19,827,688$28,109,842▲ $8,282,154
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,426,998$17,787,141▲ $6,360,143
Net Assets With Donor Restrictions$3,979,085$4,696,178▲ $717,093
Total Net Assets Fund Balance$15,406,083$22,483,319▲ $7,077,236
Total Liabilities and Net Assets / Fund Balance$35,233,771$50,593,161▲ $15,359,390

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$629,175$525,354-
Other Land Buildings-$17,060-
Equipment-$114,292-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Matthew RakerExecutive DiFT$153,070$153,070
Matthew RakerExecutive Director-$153,070$153,070

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$8,472,157
Program Service Revenue
$4,396,607
Investment Income
$0
Other Revenue
$3,325
All Other Contributions
$1,243,718
Change in Net Assets
$7,077,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,872,089
Total Revenue per Audited Statements
$12,872,089
Total Revenue per Form 990
$12,872,089
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,918,669
Salaries, Compensation, and Employee Benefits$2,876,184
Total Fundraising Expense$134,862
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,885,963$295,392$90,890$2,272,245
Interest$133,368$200,053-$333,421
Other Employee Benefits$217,057$33,997$10,460$261,514
Office Expenses$169,971$26,621$8,192$204,784
Payroll Taxes$157,165$24,616$7,574$189,355
Other Expenses$168,090--$168,090
Current Officers, Directors, Trustees, and Key Employees$127,048$19,899$6,123$153,070
Information Technology$85,184$13,342$4,105$102,631
Travel$57,905$9,070$2,790$69,765
Occupancy$49,774$7,796$2,399$59,969
Depreciation Depletion-$28,656-$28,656
Insurance$21,987$3,444$1,060$26,491
Fees for Services Accounting$16,674$2,612$804$20,090
Fees for Services Legal$5,109$800$246$6,155
Fees for Services Other$4,544$712$219$5,475
Total Functional Expenses$4,992,981$667,010$134,862$5,794,853

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,794,853
Total Expenses per Audited Statements$5,794,853
Total Expenses per Form 990$5,794,853
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$12,187$12,379▲ $192
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$7,966,945
Deferred Revenue$2,041,523
Payroll Liabilities$36,240
Accrued Interst Payable$18,777
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The return was prepared by an independent accountant with assistance and oversight by management. Upon completion and review, the return was reviewed in detail by the board finance committee and provided electronically to all voting board members prior to submission to the irs.

Form 990, Page 6, Part VI, Line 12C

The organizations's conflict of interest policy is reviewed annually at a meeting of the board of directors, and board members are required to disclose any potential conflicts throughout the year. The policy is provided to and reviewed with all new employees at hire.

Form 990, Page 6, Part VI, Line 15A

Compensation for top official initially was made in accordance of local, regional and national non-profit compensation ranges and is reviewed annually by the board of directors.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available upon request at the organization's administrative office.

Filing and Contact Details

Filer

Filer Name
Mountain Bizcapital Inc
EIN
14-1864873
Phone
8282532834
Address
153 SOUTH LEXINGTON, ASHEVILLE, NC 28801
Doing Business As
Mountain Bizworks

Signing Officer

Name
Matthew Raker
Title
Executive Director
Phone
8282532834
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Raker
Formed
2002
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
37

Preparer

Firm
Phillips Cpas & Advisors
Address
201 LAVINIA AVE, GREENVILLE, SC 29601
Preparer
Matthew V Phillips
Phone
8642361380
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

MOUNTAIN BIZWORKS

FORM 990 - ORGANIZATION'S MISSION

Mountain bizworks envisions a thriving western north carolina in which small business owners and aspiring entrepreneurs have access to the resources needed to make their dreams a reality - a region where collaboration, creativity, innovation, and investment generate opportunity and prosperity for all. Mountain bizworks' mission is to build a vibrant and inclusive entrepreneurial community in western north carolina by helping small businesses start, grow, and thrive. When small businesses succeed, we all prosper.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization recognizes the tax benefits from uncertain tax positions only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The organization's income tax filings are subject to audit by various taxing authorities. Management believes the adoption of asc 740-10 resulted in no signifcant impact to the organization's financial statements.

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IRS990/MissionDesc0MOUNTAIN BIZWORKS ENVISIONS A THRIVING WESTERN NORTH CAROLINA IN WHICH SMALL BUSINESS OWNERS AND ASPIRING ENTREPRENEURS HAVE ACCESS TO THE RESOURCES NEEDED TO MAKE THEIR DREAMS A REALITY - A REGION WHERE COLLABORATION, CREATIVITY, INNOVATION, AND INVESTMENT GENERATE OPPORTUNITY AND PROSPERITY FOR ALL. MOUNTAIN BIZWORKS' MISSION IS TO BUILD A VIBRANT AND INCLUSIVE ENTREPRENEURIAL COMMUNITY IN WESTERN NORTH CAROLINA BY HELPING SMALL BUSINESSES START, GROW, AND THRIVE. WHEN SMALL BUSINESSES SUCCEED, WE ALL PROSPER.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0COMMUNITY ADVANTAGE 7A SERVICING 8,059 VARIOUS OTHER INCOME 114,832
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. MANAGEMENT BELIEVES THE ADOPTION OF ASC 740-10 RESULTED IN NO SIGNIFCANT IMPACT TO THE ORGANIZATION'S FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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