GALLATIN DEVELOPMENT CORPORATION D… - Form 990 Financial Data

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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

1986

Legal Domicile

Principal Officer

PAUL REICHERT

Phone

4065873113

Tax Period

2023-01-01 to 2023-12-31

GALLATIN DEVELOPMENT CORPORATION DBA PROSPERA BUSINESS NETWORK, founded in 1986, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.3M left a modest 12% surplus.

Mission

TO ADVANCE AND INSPIRE DIVERSE ECONOMIES AND RESILIENT COMMUNITIES IN SOUTHWEST MONTANA.

Program Service Accomplishments

Program 1

Expenses: $494,290 Revenue: $145,707

OTHER ECONOMIC DEVELOPMENT:WE COORDINATE AND APPLY FOR VARIOUS GRANTS ON BEHALF OF BUSINESSES AND LOCAL GOVERNMENTS TO SUPPORT ECONOMIC DEVELOPMENT JOB CREATION AND PLANNING PROJECTS, RURAL BUSINESS DEVELOPMENT GRANTS, AND OTHER FEDERAL, STATE AND PRIVATE GRANTS AWARDED FOR DIVERSE COMMUNITY AND ECONOMIC DEVELOPMENT.

Program 2

Expenses: $281,694 Revenue: $62,290

MONTANA WOMEN'S BUSINESS CENTER:THE MONTANA WOMEN'S BUSINESS CENTER PROVIDES BUSINESS COUNSELING, TRAINING,NETWORKING, AND MENTORING SERVICES TO NASCENT AND ESTABLISHED WOMEN ENTREPRENEURS, ANUMBER OF WHOM ARE SOCIALLY AND/OR ECONOMICALLY DISADVANAGED. THE PROGRAM ISPARTIALLY FUNDED THROUGH A COOPERATIVE AGREEMENT WITH THE U.S. SMALL BUSINESSADMINISTRATION. THE SERVICES ARE AVAILABLE TO EVERYONE.

Program 3

Expenses: $163,644 Revenue: $76,700

MEMBERSHIP AND EVENTS:MEMBERSHIP SERVICES INCLUDE A HOST OF NETWORKING, TRAINING, AND RESEARCH FUNCTIONS THAT ARE DESIGNED TO ADVANCE OUR MISSION. WE HOLD MORE THAN 20 FUNCTIONS PER YEAR, PLUS CREATE OUR OWN PUBLICATIONS AND MATERIALS DISTRIBUTION, ATTEND PUBLIC SPEAKING EVENTS AND MEDIA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $788,220

Program Service Revenue $284,697

Investment Income $369,871

Other Revenue $50,167

TOTAL REVENUE $1,492,955

Expense Breakdown

Grants Paid $70,056

Salaries & Benefits $751,373

Fundraising Expenses $19,386

Program Expenses $1,053,005

Other Expenses $486,805

TOTAL EXPENSES $1,308,234

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,492,955	$1,450,415	+0.0%
Expenses	$1,308,234	$1,466,860	-0.1%
Net Income	$184,721	$-16,445	-12.2%

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

$224,171

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL REICHERT	Executive Dir	40.00	Officer	$104,869	$17,516	$122,385
CAROLYN MURRAY	Finance Dir	40.00	Officer	$89,597	$12,189	$101,786
STEPHANIE GRAY	Director	1.00	Director	$0	$0	$0
MARLEY MCKENNA	Past President	1.50	Officer Director	$0	$0	$0
SKY COOK	President	1.50	Officer Director	$0	$0	$0
ANNA JOHNSON	Director	1.00	Director	$0	$0	$0
BRYAN ROBERTUS	Director	1.00	Director	$0	$0	$0
CAREY LEEP	Director	1.00	Director	$0	$0	$0
COLEE WINGO	Director	1.00	Director	$0	$0	$0
JASON JOHNSON	President Elect	1.50	Officer Director	$0	$0	$0
DANIEL JULIANO	Director	1.00	Director	$0	$0	$0
SCOTT SEHNERT	Director	1.00	Director	$0	$0	$0
JON AYRES	Director	1.00	Director	$0	$0	$0
VALERIE EDWARDS	Director	1.00	Director	$0	$0	$0
MATT SZCZEPANSKI	Secretary	1.50	Officer Director	$0	$0	$0
AMY MCNULTY	Treasurer	1.50	Officer Director	$0	$0	$0
EMMETT HASLER	Director	1.00	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$1,492,955	$1,308,234	$11,661,293	$184,721
2022	$1,450,415	$1,466,860	$9,145,103	$-16,445
2021	$1,633,170	$1,293,115	$4,838,186	$340,055
2020	$1,112,507	$902,793	$3,426,821	$209,714
2019	$840,552	$821,176	$2,876,332	$19,376
2018	$887,527	$860,656	$3,503,690	$26,871

GALLATIN DEVELOPMENT CORPORATION DBA PROSPERA BUSINESS NETWORK