Southeastern Montana Development Corporation
- Assets
- $2.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Colstrip, MT
- Founding
- 01/1994
- Data as of
- 12/2021
- EIN
- 81-0485103
Organization Overview
Southeastern Montana Development Corporation is located in Colstrip, MT. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Southeastern Montana Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Montana Development Corporation 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 12/2021, Southeastern Montana Development Corporation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.4% each year . All expenses for the organization totaled $720.9k during the year ending 12/2021. While expenses have increased by 9.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE, STIMULATE AND PROMOTE ECONOMIC DEVELOPMENT, EXPANSION AND DIVERSIFICATION IN SOUTHEASTERN MONTANA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE BUSINESS CONSULTATION SERVICES, FREE OF CHARGE, TO CLIENTS: WORK WITH BUSINESS EXPANSIONS, BUSINESS STARTUPS AND BUYOUTS OF EXISTING BUSINESSES
ADMINISTER GRANTS AND TECHNICAL ASSISTANCE GRANTS RECEIVED BY ENTITY OR BY BUSINESSES UNDER THE ADMINSTRATION OF THIS ENTITY
ADMINISTERED A REVOLVING LOAN PROGRAM FOR SMALL BUSINESSES THROUGHOUT THE YEAR, PROVIDING ASSISTANCE THROUGH THE APPLICATION PROCESS AND DEVELOPMENT OF BUSINESS PLAN, AND OBTAINING COMMERCIAL FINANCING: TECHNICAL ASSISTANCE TO LOAN PROGRAM CLIENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Atchison Executive Director | Officer | 40 | $76,535 |
Keith Holmlund Director | Trustee | 1 | $0 |
Marlo Moehr Director | Trustee | 1 | $0 |
Rick Huber Director | Trustee | 1 | $0 |
Alan See Director | Trustee | 1 | $0 |
Steve Small Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $28,688 |
| Fundraising events | $13,060 |
| Related organizations | $0 |
| Government grants | $883,304 |
| All other contributions, gifts, grants, and similar amounts not included above | $298,468 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,223,520 |
| Total Program Service Revenue | $37,055 |
| Investment income | $50 |
| 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 | $1,296,654 |
| 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. | $76,536 |
| Compensation of current officers, directors, key employees. | $22,961 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,267 |
| Pension plan accruals and contributions | $6,820 |
| Other employee benefits | $26,909 |
| Payroll taxes | $15,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,712 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,823 |
| Advertising and promotion | $719 |
| Office expenses | $880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,561 |
| Travel | $4,121 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,251 |
| Insurance | $7,484 |
| All other expenses | $4,835 |
| Total functional expenses | $720,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,645 |
| Savings and temporary cash investments | $295,007 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,262,756 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $77,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,050,730 |
| Accounts payable and accrued expenses | $23,267 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $370,470 |
| Total liabilities | $393,737 |
| Net assets without donor restrictions | $1,656,993 |
| 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 | $2,050,730 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southeastern Montana Development Corporation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Montana Community Development Corporation Missoula, MT | $128,107,962 | $17,427,104 |
Rocky Mountain Development Council Inc Helena, MT | $19,568,493 | $12,980,509 |
Thunder Valley Community Development Corporation Porcupine, SD | $24,786,426 | $14,048,128 |
Western South Dakota Community Action Inc Rapid City, SD | $273,358 | $4,989,303 |
Council Of Community Services Gillette, WY | $4,502,948 | $3,710,505 |
Sioux Falls Development Foundation Inc Sioux Falls, SD | $50,584,468 | $7,701,176 |
East Central Idaho Planning And Development Association Rexburg, ID | $26,888,994 | $3,244,915 |
Community Action Partnership Association Of Idaho Boise, ID | $322,492 | $2,196,059 |
Technology For Rural Enhancement Of Communities Belle Fourche, SD | $1,025,432 | $1,756,626 |
Stark Development Corporation Dickinson, ND | $9,498,776 | $1,783,751 |
Northeastern South Dakota Health Plan Milbank, SD | $31,039,303 | $1,628,510 |
Nacdc Financial Services Inc Browning, MT | $10,612,328 | $4,375,073 |