Butte Local Development Corporation
- Assets
- $9.0m
- Revenue
- $123.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Butte, MT
- Founding
- 10/1970
- Data as of
- 10/2023
- EIN
- 81-0307232
Organization Overview
Butte Local Development Corporation is located in Butte, MT. The organization was established in 1970. 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. Butte Local Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 10/2023, Butte Local Development Corporation generated $123.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (20.1%) each year. All expenses for the organization totaled $517.6k during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 7 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT IN THE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL ECONOMIC DEVELOPMENT PROJECTS AND BUSINESS DEVELOPMENT TO PROMOTE BUSINESS RELOCATION AND EXPANSION AS WELL AS START UP IN THE AREA. PROVIDING SMALL BUSINESS WITH LOW INTEREST LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ty Stenzner Past-President | Trustee | 0 | $0 |
Jay Doyle President | OfficerTrustee | 0 | $0 |
Rick Edwards Member | Trustee | 0 | $0 |
Mike Paffhausen Member | Trustee | 0 | $0 |
Lindsey Silveira Member | Trustee | 0 | $0 |
Bill Kebe Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $85,610 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $203,863 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,535 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,008 |
| Total Program Service Revenue | -$432,067 |
| Investment income | $162,927 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $60,423 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $123,291 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $250,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,915 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,931 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,449 |
| Interest | $17,461 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,180 |
| Insurance | $7,596 |
| All other expenses | $14,294 |
| Total functional expenses | $517,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,710,774 |
| Savings and temporary cash investments | $246,712 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,416 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,689,469 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,539 |
| Net Land, buildings, and equipment | $320,141 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,971,051 |
| Accounts payable and accrued expenses | $6,130 |
| Grants payable | $0 |
| Deferred revenue | $1,000 |
| 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 | $1,194,614 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,467 |
| Total liabilities | $1,203,211 |
| Net assets without donor restrictions | $574,586 |
| Net assets with donor restrictions | $7,193,254 |
| 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 | $8,971,051 |