GREAT FALLS DEVELOPMENT AUTHORITY

EIN: 810465605 501(c)(3) Community Improvement

GREAT FALLS, MT

Total Revenue
$9,127,676
Total Expenses
$4,119,294
Total Assets
$39,178,058
Net Assets
$27,565,165
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
MT
Principal Officer
BRETT DONEY
Phone
4067502119
Tax Period
2024-07-01 to 2025-06-30

GREAT FALLS DEVELOPMENT AUTHORITY, founded in 1990, is a community nonprofit in the Community Improvement sector that reported $9.1M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $5.0M, a strong 55% operating margin.

Mission

GFDA'S MISSION IS TO GROW DIVERSE ECONOMIC OPPORTUNITIES THAT ENHANCE QUALITY OF LIFE. GFDA SEEKS TO TRANSFORM GREAT FALLS, MONTANA AND THE SURROUNDING RURAL AND TRIBAL REGION INTO A THRIVING ECONOMY THAT RAISES THE STANDARD OF LIVING, PARTICULARLY FOR UNDERSERVED POPULATIONS AND ECONOMICALLY DISTRESSED AREAS, AND CREATES GREATER ECONOMIC OPPORTUNITY FOR PEOPLE, ENTREPRENEURS, AND BUSINESSES.

Program Service Accomplishments

Program 1
Expenses: $1,508,713 Revenue: $4,303,143

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 FOCUS ON...

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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 FOCUS ON THE FOUR ASPECTS OF THE ORGANIZATION'S ECONOMIC DEVELOPMENT STRATEGY - PEOPLE, PLACE, OPPORTUNITIES, AND TEAM. THE ORGANIZATION'S STRATEGY DETAILED 19 PRIORITIES AND 60 SPECIFIC ACTIONS TO UNDERTAKE OVER THE NEXT THREE YEARS. AS PART OF THIS WORK, THE ORGANIZATIONS HOSTS A SMALL BUSINESS DEVELOPMENT CENTER, AN APEX ACCELERATOR CENTER, A FOOD & AG DEVELOPMENT CENTER, AND A BROWNFIELDS REDEVELOPMENT PROGRAM. THE ORGANIZATION ASSISTS OVER 700 ENTREPRENEURS, BUSINESSES, AND NON-PROFIT ORGANIZATIONS A YEAR THROUGH ADVISING, TRAINING, AND DEVELOPMENT SERVICES.

Program 2
Expenses: $1,714,890 Revenue: $617,119

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...

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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 THIRTEEN REVOLVING LOAN FUNDS CAPITALIZED FROM A VARIETY OF PUBLIC AND PRIVATE SOURCES. TO DATE, THE ORGANIZATION HAS MADE 209 LOANS TOTALING $72,403,010 THAT HAVE MADE POSSIBLE TOTAL INVESTMENT OF OVER $350,000,000, 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.

Program 3
Expenses: $524,945 Revenue: $341,179

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...

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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. EIGHT COMPANIES HAVE PURCHASED LOTS IN THE PARK. TO DATE, FOUR COMPANIES HAVE COMPLETED NEW FACILITIES IN THE PARK.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,716,382
Program Service Revenue $6,861,962
Investment Income $1
Other Revenue $549,331
TOTAL REVENUE $9,127,676

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,119,480
Fundraising Expenses $71,233
Program Expenses $3,864,930
Other Expenses $1,999,814
TOTAL EXPENSES $4,119,294

Year-over-Year Comparison

2024 2023 Change
Revenue $9,127,676 $9,946,706 -0.1%
Expenses $4,119,294 $4,315,755 0.0%
Net Income $5,008,382 $5,630,951 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
43
Independent Members
43
Employees
27
Volunteers
125

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
4
$278,453
Total Directors
43
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHNNA LIGHTBOURNE CHAIR 1.50
Officer Director
$0 $0 $0
NATE WEISENBURGER TREASURER 1.50
Officer Director
$0 $0 $0
ANDREAS GERANIOS SECRETARY 1.50
Officer Director
$0 $0 $0
SHERRIE AREY DIRECTOR 1.50
Director
$0 $0 $0
REED BASSETT DIRECTOR 1.50
Director
$0 $0 $0
GLENN BLISS DIRECTOR 1.50
Director
$0 $0 $0
JOE BRIGGS DIRECTOR 1.50
Director
$0 $0 $0
ED BROWN DIRECTOR 1.50
Director
$0 $0 $0
MARK CAPPIS DIRECTOR 1.50
Director
$0 $0 $0
KYLIE CARRANZA DIRECTOR 1.50
Director
$0 $0 $0
JIM DEA DIRECTOR 1.50
Director
$0 $0 $0
REBECCA ENGUM DIRECTOR 1.50
Director
$0 $0 $0
STEPHANIE ERDMANN DIRECTOR 1.50
Director
$0 $0 $0
SHANE ETZWILER DIRECTOR 1.50
Director
$0 $0 $0
RANDY GILBERTSON DIRECTOR 1.50
Director
$0 $0 $0
DANI GREBE DIRECTOR 1.50
Director
$0 $0 $0
ROB HANEY DIRECTOR 1.50
Director
$0 $0 $0
BRETT HARRIS DIRECTOR 1.50
Director
$0 $0 $0
TOM HEISLER DIRECTOR 1.50
Director
$0 $0 $0
KYLE HERDA DIRECTOR 1.50
Director
$0 $0 $0
SHANNON HOILAND DIRECTOR 1.50
Director
$0 $0 $0
DWAYNE HOWARD DIRECTOR 1.50
Director
$0 $0 $0
HEATHER HOYER DIRECTOR 1.50
Director
$0 $0 $0
KACI HUSTED DIRECTOR 1.50
Director
$0 $0 $0
TRACY JERMAN DIRECTOR 1.50
Director
$0 $0 $0
PEYTON JOHNSON DIRECTOR 1.50
Director
$0 $0 $0
TOBY MALSAM DIRECTOR 1.50
Director
$0 $0 $0
ZACH MENDENHALL DIRECTOR 1.50
Director
$0 $0 $0
MIKE MILLS DIRECTOR 1.50
Director
$0 $0 $0
TYLER MUZZANA DIRECTOR 1.50
Director
$0 $0 $0
GEORGE NIKOLAKAKOS DIRECTOR 1.50
Director
$0 $0 $0
JAYSON OLTOFF DIRECTOR 1.50
Director
$0 $0 $0
RAYMOND PORTER DIRECTOR 1.50
Director
$0 $0 $0
DAN REARDEN DIRECTOR 1.50
Director
$0 $0 $0
ERROL RICE DIRECTOR 1.50
Director
$0 $0 $0
BRITTANY RILEY DIRECTOR 1.50
Director
$0 $0 $0
DENISE SCHNIDER DIRECTOR 1.50
Director
$0 $0 $0
DAVE SMITH DIRECTOR 1.50
Director
$0 $0 $0
MORGAN TWEET DIRECTOR 1.50
Director
$0 $0 $0
SHARON VIRGIN DIRECTOR 1.50
Director
$0 $0 $0
JESSE WALDENBERG DIRECTOR 1.50
Director
$0 $0 $0
LEN WATKINS DIRECTOR 1.50
Director
$0 $0 $0
PATRICK WOODALL DIRECTOR 1.50
Director
$0 $0 $0
BRETT DONEY PRESIDENT 40.00
Officer
$243,973 $34,480 $278,453
JOLENE SCHALPER VICE PRESIDENT 40.00
Highest
$107,179 $35,054 $142,233
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 $9,127,676 $4,119,294 $39,178,058 $5,008,382
2024 $9,946,706 $4,315,755 $32,752,170 $5,630,951
2023 $5,654,586 $3,976,349 $24,426,365 $1,678,237
2022 $5,045,202 $3,464,348 $19,433,536 $1,580,854
2021 $6,629,023 $2,644,612 $16,421,780 $3,984,411
2020 $3,071,297 $2,829,221 $11,341,861 $242,076
2019 $2,852,637 $2,637,904 $11,102,402 $214,733
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