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Nonprofiteer
← GALLATIN FOUNDATION INCORPORATED

Form 990 for tax year 2022

Filed by GALLATIN FOUNDATION INCORPORATED.

Totals

Total revenue
$158,883
Total expenses
$261,719
Contributions and grants received
$158,575
Grants paid
$55,725
Program service revenue
$0
Investment income
$308
Other revenue
$0
Total assets, end of year
$340,934
Total liabilities, end of year
$341,822
Net assets or fund balances, end of year
-$888
Program services expenses (Part IX)
$252,089
Management and general expenses
$9,630
Fundraising expenses
$0
Program service expenses (Part III)
$252,089

Program services were 96.3% 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)

    $40,400

  • 1f · All other contributions, gifts and grants

    $118,175

  • 3 · Investment income

    total $308 · excluded $308

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,725 · program services $55,725

  • 11c · Fees: accounting

    total $9,630 · management and general $9,630

  • 11g · Fees: other

    total $100,005 · program services $100,005

  • 12 · Advertising and promotion

    total $73,389 · program services $73,389

  • 13 · Office expenses

    total $2,578 · program services $2,578

  • 24a · Other expenses: UNITED AIRLINE FLIGHT G

    total $20,091 · program services $20,091

  • 24b · Other expenses: OTHER

    total $301 · program services $301

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $210,361 · end of year $172,255

  • 2 · Savings and temporary cash investments

    beginning of year $102,807 · end of year $29,041

  • 15 · Other assets

    beginning of year $82,214 · end of year $139,638

  • 25 · Other liabilities

    beginning of year $270,640 · end of year $341,822

  • 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 $124,742 · end of year -$888

Mission and programs · 2022

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 $196,364

  • COMMUNITY SUPPORT

    Expenses $55,725 · Grants $55,725

As filed on the 2022 return.

Listed in Part VII

  • Daryl W Schliem

    PRESIDENT/SECRETARY

    Total calculated
    $40,000
    From this org
    $0
    From related orgs
    $40,000
    Other
    $0
    Hours/week
    2.25

  • 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.

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

  • BOZEMAN AREA CHAMBER OF COMMERCE

    $52,725

    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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303199349310140

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