Billings Depot

Legal name: Billings Depot Inc

Nonprofit profile at a glance

EIN
810500554
IRS 990 coverage
2010–2024
Official website data refreshed
Jul 2026
Forms available
Form 990 2024
Location
Billings, MT, US
Phone
406.656.7273
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$690,056
Expenses
$786,260
Assets
$2,208,046
Liabilities
$728,646

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • KARL DECOCK (President)
  • MEHMET CASEY (Vice President)

Highest reported compensation

  • MICHELLE WILLIAMS (Executive Dir.): $119,835 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Billings Depot offers a dramatic, unique setting to host any event, serving as a historic venue for weddings, conferences, and special celebrations.

What it reported doing in 2024

Restoration, preservation, and rental of historic train depot.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 76
  • Accountability: 90
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: $39 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.9%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.81; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: -3% per year; rating input score 0; 10th percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 94.7% of spending went to programs
  • Governance: 20 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $745K in reported program spending
  • Leadership: top reported pay $120K · 15 people listed
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.