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← GREAT NORTHERN DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by GREAT NORTHERN DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,285,627
Total expenses
$1,112,776
Contributions and grants received
$1,968,456
Grants paid
$263,464
Program service revenue
$241,193
Investment income
$42,798
Other revenue
$33,180
Total assets, end of year
$5,485,911
Total liabilities, end of year
$1,953,199
Net assets or fund balances, end of year
$3,532,712
Program services expenses (Part IX)
$959,222
Management and general expenses
$153,554
Fundraising expenses
$0
Program service expenses (Part III)
$959,222

Program services were 86.2% 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)

    $1,913,237

  • 1f · All other contributions, gifts and grants

    $55,219

  • 2a · Program service revenue: REVOLVING LOAN FUND IN

    total $169,226 · related or exempt $169,226

  • 2b · Program service revenue: CONTRACT REVENUE

    total $50,157 · related or exempt $50,157

  • 2c · Program service revenue: LOAN FEES

    total $21,810 · related or exempt $21,810

  • 3 · Investment income

    total $42,798 · excluded $42,798

  • 6a · Gross rents

    real property $33,180

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $33,180

  • 6d · Net rental income or loss

    total $33,180 · related or exempt $33,180

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $263,464 · program services $263,464

  • 5 · Compensation of officers, directors and key employees

    total $139,173 · program services $122,158 · management and general $17,015

  • 7 · Other salaries and wages

    total $305,829 · program services $268,370 · management and general $37,459

  • 8 · Pension plan contributions

    total $5,712 · program services $5,027 · management and general $685

  • 9 · Other employee benefits

    total $21,744 · program services $19,135 · management and general $2,609

  • 10 · Payroll taxes

    total $40,838 · program services $35,937 · management and general $4,901

  • 11b · Fees: legal

    total $4,630 · program services $3,704 · management and general $926

  • 11c · Fees: accounting

    total $17,900 · management and general $17,900

  • 11g · Fees: other

    total $40,915 · program services $40,915

  • 12 · Advertising and promotion

    total $6,865 · program services $5,492 · management and general $1,373

  • 13 · Office expenses

    total $66,907 · program services $40,144 · management and general $26,763

  • 17 · Travel

    total $14,688 · program services $11,750 · management and general $2,938

  • 18 · Travel or entertainment for public officials

    total $39,625 · program services $31,700 · management and general $7,925

  • 20 · Interest

    total $24,862 · program services $24,862

  • 22 · Depreciation, depletion and amortization

    total $24,715 · management and general $24,715

  • 23 · Insurance

    total $16,286 · program services $13,029 · management and general $3,257

  • 24a · Other expenses: ALLOWANCE FOR CREDIT LO

    total $66,500 · program services $66,500

  • 24b · Other expenses: TRAINING

    total $4,224 · management and general $4,224

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,578 · program services $3,578

  • 24d · Other expenses: EQUIPMENT

    total $2,500 · program services $2,000 · management and general $500

  • 24e · All other expenses

    total $1,821 · program services $1,457 · management and general $364

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $76,951 · end of year $213,310

  • 2 · Savings and temporary cash investments

    beginning of year $2,082,071 · end of year $1,628,821

  • 3 · Pledges and grants receivable

    beginning of year $86,267 · end of year $233,245

  • 4 · Accounts receivable

    beginning of year $3,130 · end of year $10,678

  • 7 · Other notes and loans receivable

    beginning of year $2,282,799 · end of year $3,328,030

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

    $302,552

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

    $246,607

  • 10c · Land, buildings and equipment, net

    beginning of year $80,659 · end of year $55,945

  • 15 · Other assets

    beginning of year $10,543 · end of year $15,882

  • 17 · Accounts payable and accrued expenses

    beginning of year $63,387 · end of year $57,782

  • 19 · Deferred revenue

    beginning of year $360,458 · end of year $156,136

  • 23 · Secured mortgages and notes payable

    beginning of year $1,770,314 · end of year $1,670,881

  • 25 · Other liabilities

    beginning of year $68,400 · end of year $68,400

  • 27 · Net assets without donor restrictions

    beginning of year $1,470,117 · end of year $536,544

  • 28 · Net assets with donor restrictions

    beginning of year $889,744 · end of year $2,996,168

Mission and programs · 2023

Mission

GREAT NORTHERN DEVELOPMENT CORPORATION (GNDC) IS A MONTANA NONPROFIT CORPORATION. ITS PURPOSE IS TO SUPPORT AND PROMOTE COMMERCE IN NORTHEASTERN MONTANA. THE BOARD OF GNDC SOLICITS PUBLIC AND PRIVATE CONTRIBUTIONS TO ALLOCATE AMONG VARIOUS PROGRAMS THROUGHOUT THE AREA.

  • APPLICATION AND ADMINISTRATION OF CDBG GRANTS, INTERMEDIARY RELENDING PROGRAM LOANS, CDFI LOANS, MONTANA BOARD OF INVESTMENTS MICROBUSINESS LOANS, AND EPA BROWNSFIELD GRANTS.

    Expenses $959,222 · Grants $263,464 · Revenue $274,373

As filed on the 2023 return.

Listed in Part VII

  • JIM MOOS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • MONA AMUNDSON

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • DUANE KUROKAWA

    1ST VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • CHRIS DSCHAAK

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • JERRY COLLINS

    2ND VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DAN CARR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GARY MACDONALD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TERRI MERRILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BEN FOSLAND

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GARY LINDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RICHARD RICE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DIANE BLACK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HAVEN GOURNEAU

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BJ JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RODNEY MILLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MAUREEN DIONNE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • VICTORIA MATEJOVSKY

    EXECUTIVE DIRECTOR

    Total calculated
    $78,533
    From this org
    $68,460
    From related orgs
    $0
    Other
    $10,073
    Hours/week
    40

  • MISSY BERGER

    FINANCE DIRECTOR

    Total calculated
    $60,640
    From this org
    $58,586
    From related orgs
    $0
    Other
    $2,054
    Hours/week
    40

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

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GNDC LLC

    C · LOW INCOME HOUSING · MT · 100% owned · share of income -$100 · share of assets $49,840 · controlled entity

    Directly controlled by GREAT NORTHERN DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
17 January 2025
IRS schema version
2023v6.0
Source object
202520179349300922

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