Gallatin Ice Foundation Inc
- Assets
- $7.0m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 32
- Location
- Bozeman, MT
- Founding
- 10/2007
- Data as of
- 06/2022
- EIN
- 20-5748563
Organization Overview
Gallatin Ice Foundation Inc is located in Bozeman, MT. The organization was established in 2007. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Gallatin Ice Foundation Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gallatin Ice Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Gallatin Ice Foundation Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $2.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE GREATER GALLATIN VALLEY COMMUNITY FUN AND AFFORDABLE ICE SKATING OPPORTUNITIES WHICH INCLUDE HOCKEY, FIGURE SKATING, AND RECREATIONAL ICE SKATING FOR THE CITIZENS YOUNG AND OLD, AND OF ALL SKILL LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE CITIZENS OF ALL AGES AND ABILITY LEVELS ACCESS TO HOCKEY, FIGURE SKATING, AND RECREATIONAL ICE SKATING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Weaver General Manager/hockey Director | 40 | $102,025 | |
Jeffrey E Moore Philanthropy Director | 40 | $101,169 | |
Seph Huber Treasurer | OfficerTrustee | 1 | $0 |
Todd Ward Vice President | OfficerTrustee | 1 | $0 |
Tyler Carneal President | OfficerTrustee | 1 | $0 |
Triel Culver Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $180,412 |
| All other contributions, gifts, grants, and similar amounts not included above | $625,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $805,917 |
| Total Program Service Revenue | $1,754,415 |
| Investment income | $278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $353,315 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,021 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,916,946 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $203,194 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $428,278 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,123 |
| Payroll taxes | $52,433 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,991 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $28,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,189 |
| Advertising and promotion | $33,361 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $258,092 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $370 |
| Interest | $123,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $454,400 |
| Insurance | $40,425 |
| All other expenses | $170,412 |
| Total functional expenses | $2,262,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $197,353 |
| Savings and temporary cash investments | $204,130 |
| Pledges and grants receivable | $57,029 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,185,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $382,222 |
| Other assets | $0 |
| Total assets | $7,026,634 |
| Accounts payable and accrued expenses | $2,208 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,608,555 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,610,763 |
| Net assets without donor restrictions | $4,415,871 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,026,634 |
Grants Awarded
Over the last fiscal year, Gallatin Ice Foundation Inc has awarded $4,342,527 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
GALLATIN COUNTY PURPOSE: DONATION OF SKATING BARN AND ICE HOCKEY RINK TO COUNTY AFTER CONSTRUCTION WAS COMPLETE | $3,999,009 |
Bozeman, MT PURPOSE: DONATION AND TRANSFER OF CIMCO ICE PLANT AND ICE MAKING EQUIPMENT. | $300,000 |
Bozeman, MT PURPOSE: HELP ORGANIZATION PAY DOWN BOND DEBT OWED TO GALLATIN COUNTY. | $30,868 |
Bozeman, MT PURPOSE: DONATION TO HELP ORGANIZATION WITH ZAMBONI PURCHASE | $12,650 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Gallatin Ice Foundation Inc has recieved totaling $421,092.
| Awarding Organization | Amount |
|---|---|
M J Murdock Charitable Trust Vancouver, WA PURPOSE: LEASEHOLD IMPROVEMENT | $400,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $20,000 |
The Nalen Foundation Ketchum, ID PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $92 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Wyoming Community Foundation Laramie, WY | $214,898,852 | $21,534,093 |
Idaho Community Foundation Inc Boise, ID | $229,667,754 | $28,111,141 |
Whitefish Community Foundation Inc Whitefish, MT | $55,891,446 | $19,214,103 |
Yellowstone Club Community Foundaction Bozeman, MT | $7,118,258 | $8,242,753 |
Montana Community Foundation Inc Helena, MT | $124,041,175 | $24,837,343 |
North Dakota Community Foundation Bismarck, ND | $128,952,115 | $14,760,573 |
Black Hills Area Community Foundation Rapid City, SD | $46,752,001 | $12,495,187 |
Oahe Foundation Pierre, SD | $25,933,233 | $2,879,958 |
Central Montana Foundation Lewistown, MT | $44,762,262 | $14,999,910 |
One Valley Community Foundation Bozeman, MT | $54,568,108 | $2,058,571 |
Park County Community Foundation Livingston, MT | $5,421,667 | $2,665,834 |