Ravalli County Economic Development Authority FY2023 filing

Tax-deductible

Hamilton, MT501(c)(3)Community DevelopmentEIN 81-0515595Revenue $384K in FY2023

On file with the IRSrceda.org274 Old Corvallis Rd Ste A, 59840-3213 · Hamilton, MTTax-exempt since Jul 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Provide Economic assistance to local business and entrepreneurs.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$56K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $53K a year · 14% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$56K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
57 mo
of spending, in cash
Looks good: 56.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$853K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$384K
+45% vs prior year
Spent
$349K
To programs
91%
Net assets
$4.9M
By yearFY2021–FY2025
Revenue
$384K
FY2023▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2021$420K
FY2022$264K
FY2023$384K
FY2024$431K
FY2025$437K
Expenses
$349K
FY2023▲ +52%
Tap a bar for its year
Expenses by fiscal year
FY2021$324K
FY2022$230K
FY2023$349K
FY2024$424K
FY2025$343K
Net assets
$4.9M
FY2023▲ +0.7%
Tap a bar for its year
Net assets by fiscal year
FY2021$4.9M
FY2022$4.9M
FY2023$4.9M
FY2024$4.9M
FY2025$5.0M

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $318K Management & general 9% · $31K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990; $56K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$56,112Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A

Julie Foster’s $67K as Executive Dir. is at the 44th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Julie Foster$67,308$58,135$56,112$53,373$51,252

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ravalli County Economic Development Authority executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers financial help to local businesses and entrepreneurs.

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Provided by the organization

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2 programs · $318K · in their own filed words · FY2022
01

Assist businesses in securing financing that can help develop infrastructure, support growth of existing companies, nurture new company formation, and work to expand early-stage business capital resources for young companies.

$258Kprogram expense
02

Operate business incubator and provide entrepreneurial support services and help create the infrastructure for a "knowledge-based economy".

$60Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$10K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$384K
Ln 12
Gifts and grantsLn 1h$187K
Fees for servicesLn 2g$186K
Investment incomeLn 3$10K
Money outPt IX
$349K
Ln 25
Programscol B$318K
Managementcol C$31K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$5.8M
LiabilitiesLn 26$853K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$187K
Government grantsLn 1e$142K
Fees for servicesLn 2g$186K
Investment incomeLn 3$10K
Other incomeLn 4–11$558
Total revenueLn 12$384K
Assets in detailPt X, end of year
CashLn 1$146K
SavingsLn 2$1.5M
Cash and savings togetherLn 1–2$1.7M
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$434K
Total assetsLn 16$5.8M
LiabilitiesLn 26$853K
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 52
VolunteersI 69
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.4M$1.7M
Land, buildings, equipmentLn 10c$2.7M$2.6M
Total assetsLn 16$5.8M$5.8M
LiabilitiesLn 26$904K$853K
Net assetsLn 32$4.9M$4.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$58K$47K$12K
Other salaries and wagesLn 7$90K$81K$9K
Payroll taxesLn 10$13K$11K$2K
Accounting feesLn 11c$15K$14K$1K
Other fees for servicesLn 11g$31K$29K$2K
Office expensesLn 13$3K$3K$241
Information technologyLn 14$225$208$17
OccupancyLn 16$36K$34K$2K
TravelLn 17$5K$4K$350
Conferences, conventions and meetingsLn 19$2K$2K$145
InterestLn 20$12K$11K$911
Depreciation, depletion and amortizationLn 22$63K$63K
Other expenses (24a–d)Ln 24$34K$31K$3K$0
All other expensesLn 24e−$14K−$13K−$1K
Total functional expensesLn 25$349K$318K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $437K$343K$94K$5.0M 990 PDF
FY2024 $431K$424K$6K$4.9M 990 PDF
FY2023 Viewing $384K$349K$35K$4.9M 990 PDF
FY2022 $264K$230K$33K$4.9M 990 PDF
FY2021 $420K$324K$96K$4.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $383,902 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $86,925$187,341
I-9 Program service revenuePrior year $170,626$185,871
I-10 Investment incomePrior year $6,430$10,132
I-11 Other revenuePrior year $0$558
I-12 Total revenuePrior year $263,981$383,902
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $95,540$162,129
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $134,960$187,230
I-18 Total expensesPrior year $230,500$349,359
I-19 Revenue less expensesPrior year $33,481$34,543
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $383,902 across 7 lines filed
VIII-1e Government grants$142,471
VIII-1f All other contributions, gifts and grants$44,870
VIII-1h Total contributions, gifts and grants$187,341
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $185,871$185,871
VIII-3 Investment incomeExcluded from tax $10,132$10,132
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $558$558
VIII-12 Total revenueRelated to mission $186,429 · Unrelated business $0 · Excluded from tax $10,132$383,902
Part IX · Statement of functional expenses $349,359 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $46,554 · Management $11,638$58,192
IX-7 Other salaries and wagesPrograms $81,398 · Management $9,044$90,442
IX-10 Payroll taxesPrograms $11,471 · Management $2,024$13,495
IX-11c Accounting feesPrograms $13,875 · Management $1,125$15,000
IX-11g Other fees for servicesPrograms $29,061 · Management $2,232$31,293
IX-13 Office expensesPrograms $2,972 · Management $241$3,213
IX-14 Information technologyPrograms $208 · Management $17$225
IX-16 OccupancyPrograms $33,804 · Management $2,118$35,922
IX-17 TravelPrograms $4,317 · Management $350$4,667
IX-19 Conferences, conventions and meetingsPrograms $1,790 · Management $145$1,935
IX-20 InterestPrograms $11,240 · Management $911$12,151
IX-22 Depreciation, depletion and amortizationPrograms $62,795$62,795
IX-24 Other expenses (24a–d)Programs $31,142 · Management $2,524 · Fundraising $0$33,666
IX-24e All other expensesPrograms −$12,614 · Management −$1,023−$13,637
IX-25 Total functional expensesPrograms $318,013 · Management $31,346 · Fundraising $0$349,359
Part X · Balance sheet $5,774,759 assets, 14 lines filed
Asset lines not itemized here account for $1,031,363; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $109,885$146,373
X-2 Savings and temporary cash investmentsStart of year $1,279,857$1,504,747
X-4 Accounts receivableStart of year $20,450$14,721
X-10c Land, buildings and equipment, netStart of year $2,706,370$2,643,574
X-15 Other assetsStart of year $429,645$433,981
X-16 Total assetsStart of year $5,790,854$5,774,759
X-17 Accounts payable and accrued expensesStart of year $8,680$7,921
X-19 Deferred revenue$2,608
X-25 Other liabilitiesStart of year $4,523$543
X-26 Total liabilitiesStart of year $903,503$852,865
X-27 Net assets without donor restrictionsStart of year $99,286$115,673
X-28 Net assets with donor restrictionsStart of year $4,788,065$4,806,221
X-32 Total net assets or fund balancesStart of year $4,887,351$4,921,894
X-33 Total liabilities and net assetsStart of year $5,790,854$5,774,759
Part XI · Reconciliation of net assets $4,921,894 net assets at year end
XI-1 Total revenue$383,902
XI-2 Total expenses$349,359
XI-3 Revenue less expenses$34,543
XI-4 Net assets at start of year$4,887,351
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,921,894

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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