Great Falls Development Authority

“Gfda is incorporated as a membership organization. Membership is open to any individual, business, organization or agency which contributes a minimum of $1,000 per year.”

“Our board of directors has both elected and appointed seats. Approximately 40% of the director seats are appointed by public and non-profit entities, as outlined in our bylaws. These appointed directors serve at the pleasure of the entities which appoint them. The remaining 60% are elected for staggered 3 year terms by our members through an annual nomination and election process.”

“A copy of the form 990 is provided to the board of directors for review prior to filing with the irs.”

“At the staff level, our staff accountant and president are charged with monitoring and enforcement of our policies, including our conflict of interest policy. At the board level, our board chair and vice chair are charged with monitoring and enforcement of our conflict of interest policy.”

“In fy 2022, the board commissioned a salary comparative assessment from an established executive search firm that specializes in economic development for the president/ceo and other staff leadership positions. For other staff positions, management references state and federal non-profit and economic development salary surveys as well as local market data.”

“The documents are available upon request at the organization's office. Form 990 will also be posted on the great falls development authority website and on guidestar.”

“Our governing documents, policies and financial statements are posted on our web site and available to the public on request. All of our governing board meetings are open to the public and posted in advance on our web site and with the local media. Proposed changes to our governing documents and policies are brought before our board at these open meetings. Our financial statements are presented and reviewed on a monthly basis at open governing meetings.”

“Consulting & other fees: program service expenses 474,944. Management and general expenses 18,479. Fundraising expenses 0. Total expenses 493,423.”

“Talent attraction: program service expenses 92,284. Management and general expenses 0. Fundraising expenses 0. Total expenses 92,284. Agritech park: program service expenses 89,527. Management and general expenses 0. Fundraising expenses 0. Total expenses 89,527. Professional development: program service expenses 64,061. Management and general expenses 40. Fundraising expenses 0. Total expenses 64,101. Strategic planning: program service expenses 55,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 55,000. Other expenses: program service expenses 2,961. Management and general expenses 27,670. Fundraising expenses 49. Total expenses 30,680. Publications: program service expenses 1,225. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,225.”

“ROUNDING 1.”

“There have been no changes from the prior year.”