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← GALLATIN FOUNDATION INCORPORATED

Form 990 for tax year 2023

Filed by GALLATIN FOUNDATION INCORPORATED.

Totals

Total revenue
$822,424
Total expenses
$691,217
Contributions and grants received
$813,509
Grants paid
$384,475
Program service revenue
$0
Investment income
$8,915
Other revenue
$0
Total assets, end of year
$553,306
Total liabilities, end of year
$422,987
Net assets or fund balances, end of year
$130,319
Program services expenses (Part IX)
$653,067
Management and general expenses
$38,150
Fundraising expenses
$0
Program service expenses (Part III)
$653,067

Program services were 94.5% 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)

    $344,664

  • 1f · All other contributions, gifts and grants

    $468,845

  • 3 · Investment income

    total $8,915 · excluded $8,915

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $384,475 · program services $384,475

  • 11c · Fees: accounting

    total $16,800 · management and general $16,800

  • 11g · Fees: other

    total $37,222 · program services $15,872 · management and general $21,350

  • 12 · Advertising and promotion

    total $32,251 · program services $32,251

  • 13 · Office expenses

    total $4,000 · program services $4,000

  • 16 · Occupancy

    total $100,000 · program services $100,000

  • 17 · Travel

    total $2,890 · program services $2,890

  • 24a · Other expenses: UNITED AIRLINE FLIGHT G

    total $107,686 · program services $107,686

  • 24b · Other expenses: BANK FEES

    total $5,893 · program services $5,893

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $172,255 · end of year $401,007

  • 2 · Savings and temporary cash investments

    beginning of year $29,041 · end of year $152,299

  • 15 · Other assets

    beginning of year $139,638 · end of year $0

  • 25 · Other liabilities

    beginning of year $341,822 · end of year $422,987

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$888 · end of year $130,319

Mission and programs · 2023

Mission

TO RECEIVE AND ACCEPT PROPERTY TO BE ADMINISTERED EXCLUSIVELY FOR CHARITABLE PURPOSES, PRIMARILY IN, OR FOR THE BENEFIT OF GALLATIN COUNTY, MONTANA.

  • TOURISM AIR TRAVEL PROMOTION PROGRAM

    Expenses $268,592

  • COMMUNITY SUPPORT

    Expenses $384,475 · Grants $384,475

As filed on the 2023 return.

Listed in Part VII

  • Daryl W Schliem

    PRESIDENT/SECRETARY

    Total calculated
    $211,670
    From this org
    $0
    From related orgs
    $211,670
    Other
    $0
    Hours/week
    2.25

    Schedule J breakdown matched by us

    Base
    $0 + $207,284 related
    Bonus
    $0
    Other
    $0 + $4,386 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $211,670 related

  • Ron Ostermiller

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • Carl Solvie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Matt Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Terry Alborn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.55

  • Steve Wheeler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
BOZEMAN AREA CHAMBER OF COMMERCE, DISCLOSED AS A RELATED ORGANIZATION HAS A WRITTEN EMPLOYMENT CONTRACT APPROVIED BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION OF IT'S PRESIDENT AND CEO. NO COMPENSATION IS GIVEN WITHIN THIS ORGANIZATION.

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

  • HUMAN RESOURCE DEVELOPMENT COUNCIL

    $334,000

    THIS GRANT IS TO SUPPORT THE HRDC HOMEWARD POINT PROJECT TO CONSTRUCT A YEAR-ROUND SHELTER DESIGNED TO ADDRESS THE NEEDS OF THE HOMELESS COMMUNITY.

  • BOZEMAN AREA CHAMBER OF COMMERCE

    $50,475

    GRANTS WERE PROVIDED TO EXPAND AIR TRANSPORTATION FUNDING. PROMOTIONAL VIDEO WAS USED FOR AIRLINE RECRUITMENT, ECONOMIC DEVELOPMENT RECRUITMENT, AND LOCAL ADVERTISING.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349301111

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