MONTANA SEED GROWERS ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1950

Legal Domicile

Principal Officer

HEATHER UNVERZAGT

Phone

4069943516

Tax Period

2024-05-01 to 2025-04-30

MONTANA SEED GROWERS ASSOCIATION, founded in 1950, is a small nonprofit that reported $525K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $89K, a strong 17% operating margin.

Mission

THE MONTANA SEED GROWERS ASSOCIATION, ALSO KNOWN AS MSGA, IS RESPONSIBLE FOR CERTIFYING SEED FOR ALL CROPS GROWN IN THE STATE OF MONTANA, EXCEPT POTATOES AND MINT. THE CERTIFICATION PROCESS, ADMINISTERED BY THE MONTANA SEED GROWERS ASSOCIATION, MAKES IT POSSIBLE FOR SEED PRODUCERS TO RAISE A HIGH-QUALITY SEED SOURCE THAT THROUGH A PROCESS OF APPLICATION, FIELD INSPECTION, SEED CONDITIONING AND LABORATORY TESTS, ENSURES GENETIC PURITY. THIS PROCESS IS ESSENTIAL TO MAKING SURE THE VARIETAL IDENTITY OF SEED IS PRESERVED. MONTANA SEED GROWERS IS ALSO RESPONSIBLE FOR CERTIFYING INTERAGENCY SEED PURCHASED IN ANOTHER STATE OR IN CANADA FOR THE PURPOSE OF CERTIFICATION IN MONTANA.

Program Service Accomplishments

Program 1

Expenses: $360,577

CERTIFICATION OF SEED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $500,306

Investment Income $24,237

Other Revenue $0

TOTAL REVENUE $524,543

Expense Breakdown

Grants Paid $0

Salaries & Benefits $273,456

Fundraising Expenses $0

Program Expenses $360,577

Other Expenses $161,708

TOTAL EXPENSES $435,164

Year-over-Year Comparison

	2024	2023	Change
Revenue	$524,543	$558,208	-0.1%
Expenses	$435,164	$450,694	0.0%
Net Income	$89,379	$107,514	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$175,908

Total Directors

$76,457

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA PAPKE	SECRETARY/TREASURER	40.00	Officer Director	$76,457	$0	$76,457
CHAD FOREST	PRESIDENT	0.50	Director	$0	$0	$0
JACK LAKE	FORMER PRESIDENT	0.50	Director	$0	$0	$0
TERRY PETERS	DIRECTOR	0.50	Director	$0	$0	$0
MIKE GIROUX	FORMER DIRECTOR	0.50	Director	$0	$0	$0
KATIE HATLELID	DIRECTOR	0.50	Director	$0	$0	$0
BOB HOFMAN	DIRECTOR	0.50	Director	$0	$0	$0
CAVIN STEIGER	FORMER VICE PRESIDENT	0.50	Director	$0	$0	$0
TIM LAKE	DIRECTOR	0.50	Director	$0	$0	$0
PHIL DAVEY	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
HEATHER UNVERZAGT	EXECUTIVE DIRECTOR	40.00	Officer	$99,451	$0	$99,451

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$524,543	$435,164	$1,391,800	$89,379
2024	$558,208	$450,697	$1,308,824	$107,511
2023	$509,330	$448,055	$1,176,187	$61,275
2022	$413,010	$444,135	$1,110,566	$-31,125
2021	$473,627	$418,836	$1,171,267	$54,791
2020	$455,581	$446,244	$1,165,797	$9,337
2019	$505,659	$436,357	$1,080,944	$69,302
2018	$451,990	$367,129	$1,009,801	$84,861