Butte Local Development Corporation
- Assets
- $6.9m
- Revenue
- $642.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Butte, MT
- Founding
- 10/1970
- Data as of
- 10/2020
- 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 10/2020, Butte Local Development Corporation generated $642.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $559.5k during the year ending 10/2020. 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
2020
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Coe President | OfficerTrustee | 0 | $0 |
Ty Stetzner Secretary/treasurer | OfficerTrustee | 0 | $0 |
Jay Doyle Vice President | OfficerTrustee | 0 | $0 |
Trent Holms Member | Trustee | 0 | $0 |
John Morgan Member | Trustee | 0 | $0 |
Chris Ackerman Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $418,554 |
| Investment income | $141,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $642,691 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $213,740 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $107,690 |
| Payroll taxes | $0 |
| Fees for services: Management | $31,482 |
| 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 | $20,016 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,600 |
| Travel | $1,704 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,903 |
| Interest | $23,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,902 |
| All other expenses | $0 |
| Total functional expenses | $559,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,844,489 |
| Savings and temporary cash investments | $39,648 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $204,727 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,205,263 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,871,207 |
| Accounts payable and accrued expenses | $157,742 |
| Grants payable | $0 |
| Deferred revenue | $5,120 |
| 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 | $2,034,512 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,197,374 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $4,673,833 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Butte Local Development Corporation has recieved totaling $13,500.
| Awarding Organization | Amount |
|---|---|
St James Healthcare Butte, MT PURPOSE: SUPPORT COMMUNITY HEALTH | $13,500 |
Peer Organizations
| 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 |