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Nonprofiteer
← GREAT FLS DEVELOPMENT AUTHORITY INC

Form 990 for tax year 2022

Filed by GREAT FLS DEVELOPMENT AUTHORITY INC.

Totals

Total revenue
$5,654,586
Total expenses
$3,976,349
Contributions and grants received
$2,926,642
Grants paid
$95,725
Program service revenue
$2,553,179
Investment income
$11
Other revenue
$174,754
Total assets, end of year
$24,426,365
Total liabilities, end of year
$7,500,534
Net assets or fund balances, end of year
$16,925,831
Program services expenses (Part IX)
$3,842,776
Management and general expenses
$88,468
Fundraising expenses
$45,105
Program service expenses (Part III)
$3,842,776

Program services were 96.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,485,036

  • 1f · All other contributions, gifts and grants

    $441,606

  • 1g · Noncash contributions included above

    $10,446

  • 2a · Program service revenue: LENDING INTEREST AND F

    total $1,049,884 · related or exempt $1,049,884

  • 2b · Program service revenue: OTHER GRANTS AND CONTR

    total $890,587 · related or exempt $890,587

  • 2c · Program service revenue: TIF REIMBURSEMENT

    total $317,814 · related or exempt $317,814

  • 2d · Program service revenue: PTAC AND SBDC

    total $241,163 · related or exempt $241,163

  • 2e · Program service revenue: EPA BROWNFIELD

    total $53,731 · related or exempt $53,731

  • 3 · Investment income

    total $11 · excluded $11

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $105,955 · related or exempt $105,955

  • 11b · Other revenue: APPLICATION FEES

    total $50,799 · related or exempt $50,799

  • 11c · Other revenue: PROFESSIONAL MANAGEMEN

    total $18,000 · related or exempt $18,000

  • 11e · Other revenue, total

    $174,754

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $95,725 · program services $95,725

  • 5 · Compensation of officers, directors and key employees

    total $228,556 · program services $228,556

  • 7 · Other salaries and wages

    total $1,069,850 · program services $945,300 · management and general $91,305 · fundraising $33,245

  • 8 · Pension plan contributions

    total $55,185 · program services $49,574 · management and general $3,811 · fundraising $1,800

  • 9 · Other employee benefits

    total $174,767 · program services $142,238 · management and general $27,910 · fundraising $4,619

  • 10 · Payroll taxes

    total $94,871 · program services $85,326 · management and general $6,974 · fundraising $2,571

  • 11b · Fees: legal

    total $34,078 · program services $15,235 · management and general $18,843

  • 11c · Fees: accounting

    total $18,850 · management and general $18,850

  • 11g · Fees: other

    total $493,423 · program services $474,944 · management and general $18,479

  • 12 · Advertising and promotion

    total $63,881 · program services $63,881

  • 13 · Office expenses

    total $85,126 · program services $9,691 · management and general $75,435

  • 14 · Information technology

    total $23,884 · program services $1,555 · management and general $22,329

  • 17 · Travel

    total $107,738 · program services $96,583 · management and general $11,155

  • 19 · Conferences, conventions and meetings

    total $4,349 · program services $925 · management and general $2,781 · fundraising $643

  • 20 · Interest

    total $91,310 · program services $68,483 · management and general $22,827

  • 22 · Depreciation, depletion and amortization

    total $26,173 · management and general $26,173

  • 23 · Insurance

    total $30,130 · management and general $30,130

  • 24a · Other expenses: ALLOWANCE FOR LOAN LOSS

    total $429,949 · program services $429,949

  • 24b · Other expenses: AGRITECH PARK TIF REIMB

    total $317,815 · program services $317,815

  • 24c · Other expenses: BROWNFIELD ASSESSMENT

    total $101,199 · program services $101,199

  • 24d · Other expenses: MEMBERSHIPS & SUBSCRIPT

    total $96,673 · program services $93,845 · management and general $650 · fundraising $2,178

  • 24e · All other expenses

    total $332,817 · program services $621,952 · management and general -$289,184 · fundraising $49

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,540,715 · end of year $2,994,999

  • 2 · Savings and temporary cash investments

    beginning of year $1,190,117 · end of year $2,523,890

  • 4 · Accounts receivable

    beginning of year $208,391 · end of year $226,612

  • 7 · Other notes and loans receivable

    beginning of year $14,252,607 · end of year $15,207,019

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,180 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $343,439

  • 10b · Land, buildings and equipment: accumulated depreciation

    $317,860

  • 10c · Land, buildings and equipment, net

    beginning of year $46,004 · end of year $25,579

  • 15 · Other assets

    beginning of year $1,174,522 · end of year $3,448,266

  • 17 · Accounts payable and accrued expenses

    beginning of year $251,623 · end of year $231,942

  • 23 · Secured mortgages and notes payable

    beginning of year $3,046,044 · end of year $6,430,323

  • 25 · Other liabilities

    beginning of year $888,276 · end of year $838,269

  • 27 · Net assets without donor restrictions

    beginning of year $8,926,033 · end of year $9,063,501

  • 28 · Net assets with donor restrictions

    beginning of year $6,321,560 · end of year $7,862,330

Mission and programs · 2022

Mission

GROW DIVERSE ECONOMIC OPPORTUNITIES THAT ENHANCE QUALITY OF LIFE. GFDA IS AN ECONOMIC DEVELOPMENT PARTNERSHIP AND CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT SERVES PRIMARILY SMALL URBAN, RURAL, AND TRIBAL REGIONS OF NORTH CENTRAL MONTANA, WHICH INCLUDES THE 13 COUNTIES SURROUNDING GREAT FALLS, MONTANA.

Activities or mission (Part I)

GROW DIVERSE ECONOMIC OPPORTUNITIES THAT ENHANCE QUALITY OF LIFE. GFDA IS AN ECONOMIC DEVELOPMENT PARTNERSHIP AND CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT SERVES PRIMARILY THE 13-COUNTY GREAT FALLS, MONTANA SMALL URBAN, RURAL, AND TRIBAL REGION OF NORTH CENTRAL MONTANA.

  • THE ORGANIZATION PROVIDES BUSINESS DEVELOPMENT SERVICES THROUGHOUT A 13-COUNTY, 44,000 SQUARE MILE REGION OF NORTH CENTRAL MONTANA THAT INCLUDES URBAN, RURAL AND TRIBAL AREAS. THESE SERVICES FOCUS ON THE FOUR ASPECTS OF THE ORGANIZATION'S ECONOMIC DEVELOPMENT STRATEGY - PEOPLE, PLACE, OPPORTUNITIES, AND TEAM. THE ORGANIZATION'S STRATEGY DETAILED 19 PRIORITIES AND 46 SPECIFIC ACTIONS TO UNDERTAKE OVER THE NEXT THREE YEARS. AS PART OF THIS WORK, THE ORGANIZATIONS HOSTS A SMALL BUSINESS DEVELOPMENT CENTER, AN APEX ACCELERATOR (FORMERLY CALLED PROCUREMENT TECHNICAL ASSISTANCE CENTER), A FOOD & AG DEVELOPMENT CENTER, AND A BROWNFIELDS REDEVELOPMENT PROGRAM. THE ORGANIZATION ASSISTS OVER 700 ENTREPRENEURS, BUSINESSES, AND NON-PROFIT ORGANIZATIONS A YEAR THROUGH ADVISING, TRAINING, AND DEVELOPMENT SERVICES.

    Expenses $1,339,575 · Revenue $1,131,750

  • THE ORGANIZATION IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT PROVIDES GAP AND BRIDGE FINANCING TO ENTREPRENEURS, BUSINESSES, DEVELOPERS AND NON-PROFITS WHO CANNOT SECURE ALL THE FINANCING THEY NEED FROM CONVENTIONAL SOURCES. THE ORGANIZATION HAS SEVEN REVOLVING LOAN FUNDS CAPITALIZED FROM A VARIETY OF PUBLIC AND PRIVATE SOURCES. TO DATE, THE ORGANIZATION HAS MADE 190 LOANS TOTALING $65,797,674 THAT HAVE MADE POSSIBLE TOTAL INVESTMENT OF OVER $350,000,000, CREATING THOUSANDS OF JOBS, A NUMBER OF NEW BUSINESSES AND RENOVATED PROPERTIES, AND HUNDREDS OF NEW APARTMENTS. THE ORGANIZATION MANAGES A SEPARATE NON-PROFIT, HIGH PLAINS FINANCIAL, THAT IS A SBA-CERTIFIED COMMUNITY DEVELOPMENT CORPORATION PROVIDING SBA 504 LOANS STATEWIDE ACROSS MONTANA.

    Expenses $1,982,513 · Grants $95,725 · Revenue $53,731

  • THE ORGANIZATION IS DEVELOPING A HEAVY INDUSTRIAL RAIL-SERVED INDUSTRIAL PARK, THE GREAT FALLS AGRITECH PARK, TO PROVIDE SITES NOT AVAILABLE FROM THE PRIVATE SECTOR FOR BUSINESS STARTUPS, EXPANSIONS AND ATTRACTION. THE ORGANIZATION HAS SOLD LOTS IN THE PARK TO FOUR COMPANIES. TO DATE, THREE COMPANIES HAVE COMPLETED NEW FACILITIES IN THE PARK.

    Expenses $407,342 · Revenue $317,814

  • SPECIAL PROJECTS

    Expenses $113,346 · Revenue $1,224,638

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark Macek

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1.5

  • Mark Cappis

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Jennifer Fritz

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Forrest Ehlinger

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Len Watkins

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    1.5

  • Brett Doney

    PRESIDENT

    Total calculated
    $216,058
    From this org
    $186,405
    From related orgs
    $0
    Other
    $29,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,405
    Bonus
    $15,000
    Other
    $0
    Deferred
    $13,379
    Nontaxable benefits
    $16,274
    Filer's total
    $216,058

  • Roy Alexander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Sherrie Arey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Reed Bassett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Glenn Bliss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Jeaneen Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Joe Briggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Lew Card

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Kylie Carranza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Jim Dea

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Josh Devos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Neil Dubois

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dr Stephanie Erdmann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Rebecca Engum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Shane Etzwiler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • John Faulkner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Andreas Geranios

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Randy Gilbertson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Wayne Gillis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dani Grebe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Thomas Heisler III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Heidi Hockett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Shannon Hoiland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dwight Holman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Peyton Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Martin Kutcha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Ted Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Toby Malsam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Zach Mendenhall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Mike Mills

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Tom Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Tyler Muzzana

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Ron Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • George Nikolakakos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dr Renee Pera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dan Rearden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Errol Rice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Casey Schreiner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Denise Schnider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dave Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Morgan Tweet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Sharon Virgin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Mike Waldenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Patrick Woodall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GREAT FALLS AGRITECH PARK LLC

    DEVELOPMENT OF HEAVY INDUSTRIAL PARK · MT · income $1,317,814 · assets $94,903

    Directly controlled by GREAT FALLS DEVELOPMENT AUTHORITY INC

Provenance

Return type
form_990
Tax year
2022
Filed
13 December 2023
IRS schema version
2022v5.0
Source object
202343489349300119

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