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Nonprofiteer
← GREAT FLS DEVELOPMENT AUTHORITY INC

Form 990 for tax year 2024

Filed by GREAT FLS DEVELOPMENT AUTHORITY INC.

Totals

Total revenue
$9,127,676
Total expenses
$4,119,294
Contributions and grants received
$1,716,382
Grants paid
$0
Program service revenue
$6,861,962
Investment income
$1
Other revenue
$549,331
Total assets, end of year
$39,178,058
Total liabilities, end of year
$11,612,893
Net assets or fund balances, end of year
$27,565,165
Program services expenses (Part IX)
$3,864,930
Management and general expenses
$183,131
Fundraising expenses
$71,233
Program service expenses (Part III)
$3,864,930

Program services were 93.8% 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)

    $1,341,993

  • 1f · All other contributions, gifts and grants

    $374,389

  • 1g · Noncash contributions included above

    $11,629

  • 2a · Program service revenue: OTHER GRANTS AND CONTR

    total $3,785,955 · related or exempt $3,785,955

  • 2b · Program service revenue: LENDING INTEREST AND F

    total $1,600,521 · related or exempt $1,600,521

  • 2c · Program service revenue: CDFI

    total $531,250 · related or exempt $531,250

  • 2d · Program service revenue: APEX, SBDC, CMDC

    total $517,188 · related or exempt $517,188

  • 2e · Program service revenue: TIF REIMBURSEMENT

    total $341,179 · related or exempt $341,179

  • 2f · All other program service revenue

    total $85,869 · related or exempt $85,869

  • 3 · Investment income

    total $1 · excluded $1

  • 6a · Gross rents

    real property $9,509

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $9,509

  • 6d · Net rental income or loss

    total $9,509 · related or exempt $9,509

  • 11a · Other revenue: OTHER INCOME

    total $488,371 · related or exempt $488,371

  • 11b · Other revenue: APPLICATION FEES

    total $49,451 · related or exempt $49,451

  • 11c · Other revenue: PROFESSIONAL MANAGEMEN

    total $2,000 · related or exempt $2,000

  • 11e · Other revenue, total

    $539,822

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $299,461 · program services $299,461

  • 7 · Other salaries and wages

    total $1,424,091 · program services $1,173,897 · management and general $193,726 · fundraising $56,468

  • 8 · Pension plan contributions

    total $63,172 · program services $53,390 · management and general $7,982 · fundraising $1,800

  • 9 · Other employee benefits

    total $207,765 · program services $170,477 · management and general $29,017 · fundraising $8,271

  • 10 · Payroll taxes

    total $124,991 · program services $109,066 · management and general $11,539 · fundraising $4,386

  • 11b · Fees: legal

    total $6,957 · program services -$825 · management and general $7,782

  • 11c · Fees: accounting

    total $20,590 · management and general $20,590

  • 11g · Fees: other

    total $87,281 · program services $75,302 · management and general $11,979

  • 12 · Advertising and promotion

    total $127,546 · program services $127,546

  • 13 · Office expenses

    total $94,924 · program services $12,423 · management and general $82,501

  • 14 · Information technology

    total $26,103 · program services $2,131 · management and general $23,972

  • 17 · Travel

    total $128,565 · program services $117,045 · management and general $11,520

  • 19 · Conferences, conventions and meetings

    total $16,551 · program services $3,590 · management and general $12,731 · fundraising $230

  • 20 · Interest

    total $139,677 · program services $94,049 · management and general $45,628

  • 22 · Depreciation, depletion and amortization

    total $14,189 · management and general $14,189

  • 23 · Insurance

    total $27,612 · management and general $27,612

  • 24a · Other expenses: SETTLEMENT EXPENSE - LO

    total $380,581 · program services $380,581

  • 24b · Other expenses: AGRITECH PARK TIF REIMB

    total $341,179 · program services $341,179

  • 24c · Other expenses: STRATEGIC PLANNING

    total $237,421 · program services $237,421

  • 24d · Other expenses: AGRITECH PARK

    total $183,766 · program services $183,766

  • 24e · All other expenses

    total $166,872 · program services $484,431 · management and general -$317,637 · fundraising $78

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,717,384 · end of year $6,079,890

  • 2 · Savings and temporary cash investments

    beginning of year $2,142,104 · end of year $4,614,771

  • 4 · Accounts receivable

    beginning of year $203,382 · end of year $191,237

  • 7 · Other notes and loans receivable

    beginning of year $24,047,932 · end of year $24,280,090

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

    $370,480

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

    $343,308

  • 10c · Land, buildings and equipment, net

    beginning of year $22,743 · end of year $27,172

  • 15 · Other assets

    beginning of year $3,618,625 · end of year $3,984,898

  • 17 · Accounts payable and accrued expenses

    beginning of year $377,367 · end of year $695,446

  • 19 · Deferred revenue

    beginning of year $41,582 · end of year $30,423

  • 23 · Secured mortgages and notes payable

    beginning of year $8,981,921 · end of year $10,028,803

  • 25 · Other liabilities

    beginning of year $794,517 · end of year $858,221

  • 27 · Net assets without donor restrictions

    beginning of year $10,963,902 · end of year $11,271,564

  • 28 · Net assets with donor restrictions

    beginning of year $11,592,881 · end of year $16,293,601

Mission and programs · 2024

Mission

GFDA'S MISSION IS TO GROW DIVERSE ECONOMIC OPPORTUNITIES THAT ENHANCE QUALITY OF LIFE. GFDA SEEKS TO TRANSFORM GREAT FALLS, MONTANA AND THE SURROUNDING RURAL AND TRIBAL REGION INTO A THRIVING ECONOMY THAT RAISES THE STANDARD OF LIVING, PARTICULARLY FOR UNDERSERVED POPULATIONS AND ECONOMICALLY DISTRESSED AREAS, AND CREATES GREATER ECONOMIC OPPORTUNITY FOR PEOPLE, ENTREPRENEURS, AND BUSINESSES.

Activities or mission (Part I)

THE GREAT FALLS DEVELOPMENT AUTHORITY, INC. DBA GREAT FALLS DEVELOPMENT ALLIANCE (GFDA) IS A COMMUNITY ECONOMIC DEVELOPMENT PARTNERSHIP AND CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). GFDA IS ORGANIZED AS A MONTANA NONPROFIT 501(C)3 CHARITABLE CORPORATION. IT IS A BROAD PRIVATE, NONPROFIT, AND PUBLIC PARTNERSHIP THAT SERVES THE GREAT FALLS MONTANA MSA AND THE SURROUNDING 13-COUNTY RURAL AND TRIBAL TRADE AREA OF NORTH CENTRAL MONTANA.

  • THE ORGANIZATION PROVIDES BUSINESS DEVELOPMENT SERVICES THROUGHOUT A 13-COUNTY, 44,000 SQUARE MILE REGION OF NORTH CENTRAL MONTANA THAT INCLUDES URBAN, RURAL AND TRIBAL AREAS. THESE SERVICES FOCUS ON THE FOUR ASPECTS OF THE ORGANIZATION'S ECONOMIC DEVELOPMENT STRATEGY - PEOPLE, PLACE, OPPORTUNITIES, AND TEAM. THE ORGANIZATION'S STRATEGY DETAILED 19 PRIORITIES AND 60 SPECIFIC ACTIONS TO UNDERTAKE OVER THE NEXT THREE YEARS. AS PART OF THIS WORK, THE ORGANIZATIONS HOSTS A SMALL BUSINESS DEVELOPMENT CENTER, AN APEX ACCELERATOR CENTER, A FOOD & AG DEVELOPMENT CENTER, AND A BROWNFIELDS REDEVELOPMENT PROGRAM. THE ORGANIZATION ASSISTS OVER 700 ENTREPRENEURS, BUSINESSES, AND NON-PROFIT ORGANIZATIONS A YEAR THROUGH ADVISING, TRAINING, AND DEVELOPMENT SERVICES.

    Expenses $1,508,713 · Revenue $4,303,143

  • THE ORGANIZATION IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT PROVIDES GAP AND BRIDGE FINANCING TO ENTREPRENEURS, BUSINESSES, DEVELOPERS AND NON-PROFITS WHO CANNOT SECURE ALL THE FINANCING THEY NEED FROM CONVENTIONAL SOURCES. THE ORGANIZATION HAS THIRTEEN REVOLVING LOAN FUNDS CAPITALIZED FROM A VARIETY OF PUBLIC AND PRIVATE SOURCES. TO DATE, THE ORGANIZATION HAS MADE 209 LOANS TOTALING $72,403,010 THAT HAVE MADE POSSIBLE TOTAL INVESTMENT OF OVER $350,000,000, CREATING THOUSANDS OF JOBS, A NUMBER OF NEW BUSINESSES AND RENOVATED PROPERTIES, AND HUNDREDS OF NEW APARTMENTS. THE ORGANIZATION MANAGES A SEPARATE NON-PROFIT, HIGH PLAINS FINANCIAL, THAT IS A SBA-CERTIFIED COMMUNITY DEVELOPMENT CORPORATION PROVIDING SBA 504 LOANS STATEWIDE ACROSS MONTANA.

    Expenses $1,714,890 · Revenue $617,119

  • THE ORGANIZATION IS DEVELOPING A HEAVY INDUSTRIAL RAIL-SERVED INDUSTRIAL PARK, THE GREAT FALLS AGRITECH PARK, TO PROVIDE SITES NOT AVAILABLE FROM THE PRIVATE SECTOR FOR BUSINESS STARTUPS, EXPANSIONS AND ATTRACTION. EIGHT COMPANIES HAVE PURCHASED LOTS IN THE PARK. TO DATE, FOUR COMPANIES HAVE COMPLETED NEW FACILITIES IN THE PARK.

    Expenses $524,945 · Revenue $341,179

  • SPECIAL PROJECTS

    Expenses $116,382 · Revenue $2,149,852

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

Listed in Part VII

  • Johnna Lightbourne

    CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Nate Weisenburger

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Andreas Geranios

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Sherrie Arey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Reed Bassett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Glenn Bliss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Joe Briggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Ed Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Mark Cappis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Kylie Carranza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Jim Dea

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Rebecca Engum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Stephanie Erdmann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Shane Etzwiler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Randy Gilbertson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dani Grebe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Rob Haney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Brett Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Tom Heisler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Kyle Herda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Shannon Hoiland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dwayne Howard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Heather Hoyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Kaci Husted

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Tracy Jerman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Peyton Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Toby Malsam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Zach Mendenhall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Mike Mills

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Tyler Muzzana

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • George Nikolakakos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Jayson Oltoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Raymond Porter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dan Rearden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Errol Rice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Brittany Riley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Denise Schnider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dave Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Morgan Tweet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Sharon Virgin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Jesse Waldenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Len Watkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Patrick Woodall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Brett Doney

    PRESIDENT

    Total calculated
    $278,453
    From this org
    $243,973
    From related orgs
    $0
    Other
    $34,480
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,973
    Bonus
    $0
    Other
    $0
    Deferred
    $17,374
    Nontaxable benefits
    $17,106
    Filer's total
    $278,453

  • Jolene Schalper

    VICE PRESIDENT

    Total calculated
    $142,233
    From this org
    $107,179
    From related orgs
    $0
    Other
    $35,054
    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. 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

  • 3 · Compensation survey or study

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

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

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.

  • GREAT FALLS AGRITECH PARK LLC

    DEVELOPMENT OF HEAVY INDUSTRIAL PARK · MT · income $801,707 · assets $141,443

    Directly controlled by GREAT FALLS DEVELOPMENT AUTHORITY INC

Provenance

Return type
form_990
Tax year
2024
Filed
23 March 2026
IRS schema version
2024v5.5
Source object
202630939349301753

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