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Nonprofiteer
← TRUST MONTANA INC

Form 990 for tax year 2024

Filed by TRUST MONTANA INC.

Totals

Total revenue
$1,225,328
Total expenses
$265,013
Contributions and grants received
$1,187,272
Grants paid
$2,300
Program service revenue
$31,554
Investment income
$6,502
Other revenue
$0
Total assets, end of year
$2,093,905
Total liabilities, end of year
$40,816
Net assets or fund balances, end of year
$2,053,089
Program services expenses (Part IX)
$179,887
Management and general expenses
$55,700
Fundraising expenses
$29,426
Program service expenses (Part III)
$179,887

Program services were 67.9% 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)

    $310,000

  • 1f · All other contributions, gifts and grants

    $877,272

  • 1g · Noncash contributions included above

    $116,005

  • 2a · Program service revenue: STEWARDSHIP PAYMENTS

    total $21,000 · related or exempt $21,000

  • 2b · Program service revenue: LEASE FEES

    total $10,554 · related or exempt $10,554

  • 3 · Investment income

    total $6,267 · excluded $6,267

  • 7a · Gross sales of assets other than inventory

    securities $235

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $235

  • 7d · Net gain or loss

    total $235 · excluded $235

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,300 · program services $2,300

  • 5 · Compensation of officers, directors and key employees

    total $68,000 · program services $47,600 · management and general $13,600 · fundraising $6,800

  • 7 · Other salaries and wages

    total $111,272 · program services $88,681 · management and general $12,155 · fundraising $10,436

  • 9 · Other employee benefits

    total $9,004 · program services $6,845 · management and general $1,293 · fundraising $866

  • 10 · Payroll taxes

    total $15,807 · program services $12,016 · management and general $2,271 · fundraising $1,520

  • 11b · Fees: legal

    total $3,097 · program services $3,097

  • 11c · Fees: accounting

    total $13,091 · management and general $13,091

  • 11g · Fees: other

    total $5,620 · fundraising $5,620

  • 12 · Advertising and promotion

    total $4,767 · program services $2,664 · management and general $160 · fundraising $1,943

  • 13 · Office expenses

    total $4,604 · program services $520 · management and general $2,663 · fundraising $1,421

  • 14 · Information technology

    total $6,415 · management and general $6,415

  • 17 · Travel

    total $4,862 · program services $3,119 · management and general $1,411 · fundraising $332

  • 19 · Conferences, conventions and meetings

    total $895 · program services $76 · management and general $581 · fundraising $238

  • 20 · Interest

    total $204 · program services $204

  • 23 · Insurance

    total $1,273 · management and general $1,273

  • 24a · Other expenses: LAND ACQUISITION & DEVE

    total $11,826 · program services $11,826

  • 24b · Other expenses: BANK & CC CHARGES

    total $1,726 · program services $939 · management and general $787

  • 24c · Other expenses: FUNDRAISING

    total $250 · fundraising $250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $324,130 · end of year $81,374

  • 2 · Savings and temporary cash investments

    beginning of year $78,320 · end of year $94,361

  • 4 · Accounts receivable

    end of year $584

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

    $1,921,575

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

    $3,989

  • 10c · Land, buildings and equipment, net

    beginning of year $893,831 · end of year $1,917,586

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,044 · end of year $204

  • 19 · Deferred revenue

    beginning of year $200,000

  • 23 · Secured mortgages and notes payable

    end of year $34,498

  • 25 · Other liabilities

    beginning of year $2,405 · end of year $6,114

  • 27 · Net assets without donor restrictions

    beginning of year $340,001 · end of year $1,300,258

  • 28 · Net assets with donor restrictions

    beginning of year $752,831 · end of year $752,831

Mission and programs · 2024

Mission

TRUST MONTANA'S MISSION IS TO PROMOTE COMMUNITY LAND TRUSTS AND HOLD LAND IN TRUST TO FACILITATE WORKFORCE HOUSING, FARMLAND AFFORDABILITY, AND THE PRESERVATION OF VITAL COMMUNITY ASSETS THAT KEEP RURAL AND URBAN AREAS LIVABLE FOR MONTANANS OF VARIED ECONOMIC MEANS.

Activities or mission (Part I)

TO PROMOTE COMMUNITY LAND TRUSTS AND HOLD LAND IN TRUST TO FACILITATE WORKFORCE HOUSING, FARMLAND AFFORDABILITY, AND THE PRESERVATION OF VITAL COMMUNITY ASSETS THAT KEEP RURAL AND URBAN AREAS LIVABLE FOR MONTANANS OF VARIED ECONOMIC MEANS.

  • CLT HOMES: TRUST MONTANA'S PERMANENTLY AFFORDABLE HOMES PROGRAM PRESERVES RENTAL UNITS AND HOMEOWNERSHIP PROPERTIES IN TRUST THROUGH AFFORDABLE LAND LLC TO GUARANTEE AFFORDABILITY FOR CURRENT AND FUTURE FAMILIES. TRUST MONTANA STEWARDS 28 HOMES AND 4 RENTAL PROPERTIES IN EIGHT COMMUNITIES ACROSS THE STATE, HAVING ADDED THREE NEW HOME OWNERSHIP OPPORTUNITIES AND FOUR RENTAL UNITS IN 2024. TRUST MONTANA HOMEOWNERS AND RENTERS MUST INCOME-QUALIFY, ENSURING THAT THESE HOMES BENEFIT WORKING CLASS INDIVIDUALS IN COMMUNITIES. THE EXPANSION TO RENTAL PROPERTIES IN 2024 WAS CO-DESIGNED WITH THE COMMUNITY, RESPONDING TO THE NEED FOR DIVERSE AFFORDABLE HOUSING TYPES.AFFORDABLE LAND LLC IS A SINGLE-MEMBER LLC OWNED BY TRUST MONTANA. IT WAS FORMED IN 2019 TO HOLD THE TITLES OF ALL LAND THAT IS ACQUIRED FOR PERMANENTLY AFFORDABLE PROJECTS OF TRUST MONTANA. AFFORDABLE LAND COLLECTS LEASE FEES FROM EACH HOUSEHOLD MONTHLY. IT ALSO COLLECTS STEWARDSHIP PAYMENTS AT THE TIME OF HOME CLOSINGS AND THOSE FUNDS ARE PLACED INTO A SAVINGS ACCOUNT TO ENSURE THAT FUTURE MAINTENANCE AND OTHER EXPENSES WILL BE COVERED.

    Expenses $55,395 · Grants $2,300 · Revenue $23,042

  • CLT FARM: IN 2024, TRUST MONTANA ACQUIRED THE STATE'S FIRST-EVER COMMUNITY LAND TRUST FARM UNDER THE ORGANIZATION'S AG LAND PRESERVATION PROGRAM. CORNER FARM IS AN 8-ACRE PARCEL IN MISSOULA COUNTY IN A DESIRABLE LOCATION WHICH WAS UNDER EXTREME DEVELOPMENT PRESSURE. THE PRESERVATION OF AGRICULTURAL LAND AND SOILS IS CRITICAL TO MAINTAINING LOCAL FOOD SYSTEMS. THIS PROJECT NOT ONLY BENEFITS THE BEGINNING FARMER OPERATING ON THE LAND UNDER A LAND-LEASE AND USAGE AGREEMENT, BUT ALSO THE SURROUNDING COMMUNITY WHICH, AS RESULT OF THIS PROJECT, HAS INCREASED ACCESS TO LOCALLY, ORGANICALLY-GROWN FOOD.

    Expenses $87,729 · Revenue $8,512

  • EDUCATION AND ADVOCACY OF CLTS: TRUST MONTANA ALSO LEADS EFFORTS TO EXPAND EDUCATION AND UNDERSTANDING OF THE COMMUNITY LAND TRUST MODEL IN THE STATE THROUGH ITS CLT EDUCATION PROGRAM. WITH 23 PRESENTATIONS IN 2024, SERVING 491 PEOPLE, THE ORGANIZATION SUPPORTS REALTORS, TITLE AGENTS, LENDERS, AND POTENTIAL HOMEBUYERS. MANY OF THESE PRESENTATIONS QUALIFY AS CONTINUING EDUCATION CREDITS IN THESE INDUSTRIES. TRUST MONTANA ALSO SERVES AS AN EXPERT AND TECHNICAL ASSISTANCE PROVIDER FOR OTHER LAND TRUSTS OPERATING IN THE STATE. AT ANY GIVEN TIME, THE ORGANIZATION IS SUPPORTING 3-5 PEER LAND TRUST PROJECTS, AS WELL AS NAVIGATING EXPLORATORY AND PLANNING CONVERSATIONS WITH 7-12 PARTNERS TO IDENTIFY NEW AND EMERGING PROJECTS FOR TRUST MONTANA.

    Expenses $36,763

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sheila Rice

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Bob Oaks

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Larry Phillips

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Tatyana Schmidt

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jo Ann Eder

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tabetha Heilig

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jesse Dodson

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dorothy Young

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Zavitz

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Autumn Tigart

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dawn Conklin

    EXECUTIVE DIRECTOR

    Total calculated
    $68,000
    From this org
    $68,000
    From related orgs
    $0
    Other
    $0
    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

No itemized grants to organizations 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.

  • AFFORDABLE LAND LLC

    LAND TRUST · MT · income $975,609 · assets $2,019,401

    Directly controlled by TRUST MONTANA INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 March 2025
IRS schema version
2024v5.0
Source object
202510759349300511

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