Gallatin Foundation Incorporated
- Assets
- $395.4k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Bozeman, MT
- Founding
- 09/1993
- Data as of
- 12/2021
- EIN
- 36-3652247
Organization Overview
Gallatin Foundation Incorporated is located in Bozeman, MT. The organization was established in 1993. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gallatin Foundation Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Gallatin Foundation Incorporated generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.3% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND ACCEPT PROPERTY TO BE ADMINISTERED EXCLUSIVELY FOR CHARITABLE PURPOSES, PRIMARILY IN, OR FOR THE BENEFIT OF GALLATIN COUNTY, MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOURISM AIR TRAVEL PROMOTION PROGRAM
COMMUNITY SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daryl W Schliem President/secretary | OfficerTrustee | 2.25 | $0 |
Ron Ostermiller Vice President/treasurer | OfficerTrustee | 0.25 | $0 |
Carl Solvie Board Member | Trustee | 0.25 | $0 |
Matt Johnson Board Member | Trustee | 0.25 | $0 |
Steve Wheeler Board Member | Trustee | 0.25 | $0 |
Terry Alborn Board Member | Trustee | 0.55 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $643,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $392,135 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,035,635 |
| Total Program Service Revenue | $0 |
| Investment income | $169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,035,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,925 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,874 |
| Fees for services: Lobbying | $5,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,734 |
| Advertising and promotion | $304,875 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,195,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,361 |
| Savings and temporary cash investments | $102,807 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,214 |
| Total assets | $395,382 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $270,640 |
| Total liabilities | $270,640 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $124,742 |
| Total liabilities and net assets/fund balances | $395,382 |
Grants Awarded
Over the last fiscal year, Gallatin Foundation Incorporated has awarded $35,900 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bozeman, MT PURPOSE: GRANTS WERE PROVIDED TO EXPAND AIR TRANSPORTATION FUNDING. PROMOTIONAL VIDEO WAS USED FOR AIRLINE RECRUITMENT, ECONOMIC DEVELOPMENT RECRUITMENT, AND LOCAL ADVERTISING. | $29,900 |
PROSPERA PURPOSE: ECONOMIC PROFILE 2019; GRANT PROVIDED BY GALLATIN FOUNDATION | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hughes Charitable Foundation Jackson, WY | $5,676,764 | $10,003,792 |
Gianforte Fam Charitable Tr Bozeman, MT | $232,267,609 | $12,872,148 |
The Aditi Foundation Sioux Falls, SD | $272,669 | $9,625,048 |
Denny Sanford Foundation Sioux Falls, SD | $42,390,595 | $5,136,218 |
Montana Healthcare Foundation Bozeman, MT | $211,845,474 | $27,605,227 |
Homer A Scott And Mildred S Scott Foundation Sheridan, WY | $28,032,742 | $11,071,204 |
J R Simplot Foundation Inc Boise, ID | $241,362,659 | $7,582,149 |
Laura Moore Cunningham Foundation Inc Boise, ID | $9,665,036 | $4,890,131 |
Bruno And Evelyne Betti Foundation Billings, MT | $0 | $451,341 |
Dakota Charitable Foundation Inc Rapid City, SD | $26,047,186 | $2,168,472 |
Town Pump Charitable Foundation Butte, MT | $40,763,462 | $8,633,359 |
Pharos Foundation Jackson, WY | $46,452,761 | $4,714,657 |