Great Fls Development Authority Inc

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.

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)Compensation
Brett Doney
President
$167,105
Mark Macek
Chairman
$0
Mark Cappis
Treasurer
$0
Forrest Ehlinger
Secretary
$0
Len Watkins
Past Chairman
$0
Roy Alexander
Director
$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

Grants Awarded

Over the last fiscal year, Great Fls Development Authority Inc has awarded $369,661 in support to 2 organizations.

Grant RecipientAmount

COMMUNITY HEALTH CARE CENTER DBA ALLUVION HEALTH

Org PageRecipient Profile

Great Falls, MT

PURPOSE: ASBESTOS ABATEMENT OF THE ROCKY MOUNTAIN BUILDING

$360,934

GREAT FALLS RESCUE MISSION

Org PageRecipient Profile

Great Falls, MT

PURPOSE: ASBESTOS ABATEMENT

$8,727
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Great Fls Development Authority Inc has recieved totaling $13,100.

Awarding OrganizationAmount
First Interstate Bancsystem Foundation Inc

Billings, MT

PURPOSE: GENERAL OPERATING SUPPORT

$13,100
View Grant Recipient Profile

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