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Nonprofiteer
← SOUTHEASTERN MONTANA DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SOUTHEASTERN MONTANA DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,061,619
Total expenses
$1,243,845
Contributions and grants received
$1,981,317
Grants paid
$20,500
Program service revenue
$52,373
Investment income
$4,062
Other revenue
$23,867
Total assets, end of year
$2,809,153
Total liabilities, end of year
$345,707
Net assets or fund balances, end of year
$2,463,446
Program services expenses (Part IX)
$1,142,426
Management and general expenses
$101,419
Fundraising expenses
$0
Program service expenses (Part III)
$1,142,426

Program services were 91.8% 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)

    $1,864,452

  • 1f · All other contributions, gifts and grants

    $116,865

  • 2a · Program service revenue: REVOLVING LOAN INCOME

    total $52,373 · related or exempt $52,373

  • 3 · Investment income

    total $4,062 · related or exempt $4,062

  • 8a · Fundraising events: gross income

    $36,293

  • 8b · Fundraising events: direct expenses

    $12,426

  • 8c · Net income from fundraising events

    total $23,867 · excluded $23,867

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $20,500 · program services $20,500

  • 5 · Compensation of officers, directors and key employees

    total $80,000 · program services $56,000 · management and general $24,000

  • 7 · Other salaries and wages

    total $158,405 · program services $118,804 · management and general $39,601

  • 8 · Pension plan contributions

    total $10,604 · program services $7,423 · management and general $3,181

  • 9 · Other employee benefits

    total $36,469 · program services $27,352 · management and general $9,117

  • 10 · Payroll taxes

    total $21,166 · program services $15,875 · management and general $5,291

  • 11c · Fees: accounting

    total $10,744 · program services $8,058 · management and general $2,686

  • 11g · Fees: other

    total $3,572 · program services $2,679 · management and general $893

  • 12 · Advertising and promotion

    total $1,807 · program services $1,355 · management and general $452

  • 13 · Office expenses

    total $1,563 · program services $1,172 · management and general $391

  • 16 · Occupancy

    total $7,743 · program services $5,807 · management and general $1,936

  • 17 · Travel

    total $10,824 · program services $8,118 · management and general $2,706

  • 22 · Depreciation, depletion and amortization

    total $7,267 · management and general $7,267

  • 23 · Insurance

    total $7,276 · program services $5,457 · management and general $1,819

  • 24a · Other expenses: TRAINING

    total $2,925 · program services $2,194 · management and general $731

  • 24b · Other expenses: OTHER MISC BUSINESS EXP

    total $185 · program services $139 · management and general $46

  • 24c · Other expenses: GRANTLOAN EXPENSES

    total $844,975 · program services $844,975

  • 24d · Other expenses: LOAN LOSS EXPENSES

    total $12,612 · program services $12,612

  • 24e · All other expenses

    total $5,208 · program services $3,906 · management and general $1,302

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $150,190 · end of year $199,252

  • 2 · Savings and temporary cash investments

    beginning of year $667,250 · end of year $619,560

  • 7 · Other notes and loans receivable

    beginning of year $1,092,965 · end of year $1,911,085

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

    $156,649

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

    $77,393

  • 10c · Land, buildings and equipment, net

    beginning of year $86,523 · end of year $79,256

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,903 · end of year $14,089

  • 25 · Other liabilities

    beginning of year $364,261 · end of year $331,618

  • 27 · Net assets without donor restrictions

    beginning of year $1,597,764 · end of year $1,635,646

  • 28 · Net assets with donor restrictions

    end of year $827,800

Mission and programs · 2023

Mission

TO ENCOURAGE, STIMULATE AND PROMOTE ECONOMIC DEVELOPMENT, EXPANSION AND DIVERSIFICATION IN SOUTHEASTERN MONTANA

  • PROVIDE BUSINESS CONSULTATION SERVICES, FREE OF CHARGE, TO CLIENTS: WORK WITH BUSINESS EXPANSIONS, BUSINESS STARTUPS AND BUYOUTS OF EXISTING BUSINESSES

    Expenses $913,941

  • ADMINISTER GRANTS AND TECHNICAL ASSISTANCE GRANTS RECEIVED BY ENTITY OR BY BUSINESSES UNDER THE ADMINSTRATION OF THIS ENTITY

    Expenses $182,788

  • ADMINISTERED A REVOLVING LOAN PROGRAM FOR SMALL BUSINESSES THROUGHOUT THE YEAR, PROVIDING ASSISTANCE THROUGH THE APPLICATION PROCESS AND DEVELOPMENT OF BUSINESS PLAN, AND OBTAINING COMMERCIAL FINANCING: TECHNICAL ASSISTANCE TO LOAN PROGRAM CLIENTS

    Expenses $45,697

As filed on the 2023 return.

Listed in Part VII

  • James Atchison

    EXECUTIVE DIRECTOR

    Total calculated
    $80,000
    From this org
    $80,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ken Rolandson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan See

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rita Kratky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Hein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dwayne Andrews

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ken Wooley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lori Fortner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amy Pontius

    SECRETARY TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Raymond Ragsdale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Williams

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Jason Strouf

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Ruth Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Small

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dennis Kopitzke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marlo Moehr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202423209349313217

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