Great Fls Development Authority Inc
- Assets
- $19.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Great Falls, MT
- Founding
- 06/1992
- Data as of
- 06/2022
- EIN
- 81-0465605
Organization Overview
Great Fls Development Authority Inc is located in Great Falls, MT. The organization was established in 1992. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Great Fls Development Authority Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Fls Development Authority 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, Great Fls Development Authority Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 0.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
GROW DIVERSE ECONOMIC OPPORTUNITIES THAT ENHANCE QUALITY OF LIFE. GFDA IS AN ECONOMIC DEVELOPMENT PARTNERSHIP AND CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT SERVES PRIMARILY THE 13-COUNTY GREAT FALLS, MONTANA SMALL URBAN, RURAL, AND TRIBAL REGION OF NORTH CENTRAL MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 INCLUDE SEVEN STRATEGIC DIRECTIONS: BUSINESS STARTUP, RETENTION AND EXPANSION; DOWNTOWN AND RIVERFRONT REDEVELOPMENT; BUSINESS ATTRACTION; MANUFACTURING PARTNERSHIP; WORKFORCE; INDUSTRIAL SITES; AND, COMMERCIAL AND HOUSING DEVELOPMENT. AS PART OF THESE EFFORTS, THE ORGANIZATION OPERATES A SMALL BUSINESS DEVELOPMENT CENTER, A PROCUREMENT TECHNICAL ASSISTANCE CENTER, A FOOD, AG AND RENEWABLE ENERGY DEVELOPMENT CENTER, AND A BROWNFIELD REDEVELOPMENT PROGRAM. IN THE LAST 6 YEARS, THE ORGANIZATION HAS COACHED OVER 600 ENTREPRENEURS AND BUSINESSES, LEADING TO NUMEROUS EXPANSIONS AND OVER 50 BUSINESS STARTS, AND HELPED OVER 400 BUSINESSES WITH GOVERNMENT CONTRACTING.
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 SEVEN REVOLVING LOAN FUNDS CAPITALIZED FROM A VARIETY OF PUBLIC AND PRIVATE SOURCES. TO DATE, THE ORGANIZATION HAS MADE 165 LOANS TOTALING $51,992,254 THAT HAVE MADE POSSIBLE TOTAL INVESTMENT OF OVER $275,000,000, 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.
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. THE ORGANIZATION HAS SOLD LOTS IN THE PARK TO FOUR COMPANIES. TO DATE, THREE COMPANIES HAVE COMPLETED NEW FACILITIES IN THE PARK.
SPECIAL PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Doney President | Officer | 40 | $167,105 |
Mark Macek Chairman | OfficerTrustee | 1.5 | $0 |
Mark Cappis Treasurer | OfficerTrustee | 1.5 | $0 |
Forrest Ehlinger Secretary | OfficerTrustee | 1.5 | $0 |
Len Watkins Past Chairman | Trustee | 1.5 | $0 |
Roy Alexander Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $495,683 |
| Noncash contributions included in lines 1a–1f | $12,463 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $555,683 |
| Total Program Service Revenue | $4,372,295 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,045,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $369,661 |
| 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. | $215,745 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $941,609 |
| Pension plan accruals and contributions | $45,202 |
| Other employee benefits | $147,154 |
| Payroll taxes | $86,646 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,355 |
| Fees for services: Accounting | $18,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $147,944 |
| Advertising and promotion | $37,636 |
| Office expenses | $79,697 |
| Information technology | $21,551 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $38,476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,883 |
| Interest | $66,724 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,293 |
| Insurance | $19,986 |
| All other expenses | $464,127 |
| Total functional expenses | $3,464,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,540,715 |
| Savings and temporary cash investments | $1,190,117 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $208,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,252,607 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,180 |
| Net Land, buildings, and equipment | $46,004 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,174,522 |
| Total assets | $19,433,536 |
| Accounts payable and accrued expenses | $251,623 |
| 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 | $3,046,044 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $888,276 |
| Total liabilities | $4,185,943 |
| Net assets without donor restrictions | $8,926,033 |
| Net assets with donor restrictions | $6,321,560 |
| 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 | $19,433,536 |
Grants Awarded
Over the last fiscal year, Great Fls Development Authority Inc has awarded $369,661 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Great Falls, MT PURPOSE: ASBESTOS ABATEMENT OF THE ROCKY MOUNTAIN BUILDING | $360,934 |
Great Falls, MT PURPOSE: ASBESTOS ABATEMENT | $8,727 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Great Fls Development Authority Inc has recieved totaling $13,100.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $13,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Camelback Ventures Inc Garden City, ID | $16,707,228 | $5,830,113 |
Great Fls Development Authority Inc Great Falls, MT | $19,433,536 | $5,045,202 |
Lakota Fund Kyle, SD | $17,004,625 | $4,059,450 |
Montana Business Assistance Connection Inc Helena, MT | $11,964,243 | $1,416,863 |
Northeast South Dakota Economic Corporation Sisseton, SD | $28,795,164 | $2,763,514 |
Wyoming Womens Business Center Laramie, WY | $937,422 | $712,073 |
East-Central Idaho Development Company Rexburg, ID | $3,332,671 | $702,206 |
First District Development Company Watertown, SD | $3,325,748 | $430,953 |
West River Business Center Inc Dickinson, ND | $87,910 | $0 |
Early Stage Montana Bozeman, MT | $46,384 | $0 |