Gallatin Valley Foundation for Economic Development Inc Dba Prospera Foundation

Nonprofit profile at a glance

EIN
203116452
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2017
Location
Bozeman, MT, USA
Phone
4065873113
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$182,243
Expenses
$182,677
Assets
$422,048
Liabilities
$155

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

Leadership & pay

17 people listed

Executive titles in this filing

  • SKY COOK (Past President)
  • JASON JOHNSON (President)
  • AMY MCNULTY (PRESIDENT ELECT)

Highest reported compensation

  • PAUL REICHERT (Executive Dir): $132,549 total reported compensation
  • CAROLYN MURRAY (FINANCE DIR): $120,157 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 foundation works to strengthen the economy of gallatin county, Montana through local business development activities in an effort to attract, retain and grow jobs and businesses throughout gallatin county.

What it reported doing in 2024

The Foundation works to strengthen the economies of Gallatin and Park Counties and other areas of the state of Montana through business and community development.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 80
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.9%; rating input score 94; 54th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 2.31; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 17.1%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 21.5% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 88.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $162K in reported program spending
  • Leadership: top reported pay $133K · 17 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.