North Central Montana Economic Development District Inc is located in Cut Bank, MT. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Central Montana Economic Development District 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 12/2021, North Central Montana Economic Development District Inc generated $526.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $320.1k during the year ending 12/2021. While expenses have increased by 5.8% 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 PROVIDE THROUGH LOCAL LEADERSHIP ECONOMIC, TECHNICAL, AND ENGINEERING INFORMATION, AND ACCESS TO RESOURCES TO IMPROVE THEECONOMIES IN THE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THROUGH LOCAL LEADERSHIP ECONOMIC, TECHNICAL, AND ENGINEERING INFORMATION, AND ACCESS TO RESOURCES TO IMPROVE THE ECONOMIES IN THE AREA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sarah Converse Executive Direc | Officer | 40 | $68,000 |
Tony Sitzman Chairman | Trustee | 4 | $0 |
Lorette Carter Director | Trustee | 1 | $0 |
Cyndi Johnson Treasurer | Trustee | 1 | $0 |
Lila Evans Director | Trustee | 1 | $0 |
Jim Larsen Secretary | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $501,617 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $501,617 |
Total Program Service Revenue | $7,260 |
Investment income | $17,862 |
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 | $526,778 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $48,268 |
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. | $68,000 |
Compensation of current officers, directors, key employees. | $6,800 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $86,877 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $39,376 |
Payroll taxes | $13,157 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $4,885 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $11,265 |
Advertising and promotion | $317 |
Office expenses | $9,964 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $410 |
Travel | $13,235 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $880 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,500 |
Insurance | $2,734 |
All other expenses | $687 |
Total functional expenses | $320,074 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $382,811 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
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 | $26,000 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $697,228 |
Total assets | $1,106,039 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $1,106,039 |
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 | $1,106,039 |
Over the last fiscal year, North Central Montana Economic Development District Inc has awarded $182,243 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
BROWNFIELD GRANT PURPOSE: BROWNSFIELD PASS THRU EXPENSES | $109,743 |
COLUMBIA GRAIN BSEDTF PURPOSE: FEASIBILITY STUDY | $25,000 |
MT SPECIALTY MILLS BSEDTF PURPOSE: FEASIBILTY STUDY | $25,000 |
BTC ELDER CARE CTR BSEDTF PURPOSE: PRELIMINARY ENGINEERING REPORT | $22,500 |
Over the last fiscal year, we have identified 1 grants that North Central Montana Economic Development District Inc has recieved totaling $13,000.
Awarding Organization | Amount |
---|---|
Montana Community Foundation Inc Helena, MT PURPOSE: COVID-19 RELIEF | $13,000 |
Organization Name | Assets | Revenue |
---|---|---|
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Wolf Run Village Inc Watford City, ND | $13,751,715 | $5,775,669 |
Glacier Country Regional Tourism Commission Inc Missoula, MT | $1,843,193 | $3,815,172 |
South Segment Community Development Corporation Halliday, ND | $18,333,660 | $2,595,332 |
Fargo Moorhead Convention & Visitors Bureau Inc Fargo, ND | $3,704,311 | $2,547,498 |
Four Bands Community Fund Inc Eagle Butte, SD | $19,022,561 | $5,647,220 |
Emerging Prairie Fargo, ND | $1,252,984 | $1,382,080 |
Lake County Community Development Corporation Ronan, MT | $8,061,823 | $2,376,944 |
Big Sky Economic Development Corporation Billings, MT | $3,059,757 | $1,982,472 |
Dakota Business Lending Fargo, ND | $6,874,323 | $2,297,592 |
Bear Paw Development Corp Of North Montana Hill County Courthouse Havre, MT | $10,546,975 | $3,629,842 |
Capital Matrix Inc Boise, ID | $3,302,883 | $1,706,997 |