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Gallatin Foundation Incorporated FY2022 filing

Tax-deductible

Bozeman, MT501(c)(3) EIN 36-3652247Revenue $159K in FY2022

On file with the IRS2000 Commerce Way, 59715-7500 · Bozeman, MTTax-exempt since Sep 1993Publicly supported charity — 170(b)(1)(A)(vi)

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To receive and accept property to be administered exclusively for charitable purposes, primarily in, or for the benefit of Gallatin county, montana.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $79K a year · 15% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$342K
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$159K
-85% vs prior year
Spent
$262K
To programs
96%
Net assets
−$888
By yearFY2020–FY2024
Revenue
$159K
FY2022▼ -85%
Tap a bar for its year
Revenue by fiscal year
FY2020$479K
FY2021$1.0M
FY2022$159K
FY2023$822K
FY2024$151K
Expenses
$262K
FY2022▼ -78%
Tap a bar for its year
Expenses by fiscal year
FY2020$684K
FY2021$1.2M
FY2022$262K
FY2023$691K
FY2024$211K
Net assets
−$888
FY2022▼ -101%
Tap a bar for its year
Net assets by fiscal year
FY2020$283K
FY2021$125K
FY2022−$888
FY2023$130K
FY2024$70K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1993.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $252K Management & general 4% · $10K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Daryl W Schliem
President/Secretary
$0Pt VII · Sec A
Ron Ostermiller
Vice President/Treasurer
$0Pt VII · Sec A
Carl Solvie
Board Member
$0Pt VII · Sec A
Matt Johnson
Board Member
$0Pt VII · Sec A
Terry Alborn
Board Member
$0Pt VII · Sec A
Steve Wheeler
Board Member
$0Pt VII · Sec A
See Gallatin Foundation Incorporated 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 15aNo

Programs and updates

Accepts and manages property for charitable purposes in Gallatin County, Montana.

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Provided by the organization

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2 programs · $252K · in their own filed words · FY2022
01

Tourism air travel promotion program

$196Kprogram expense
02

Community support

$56Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Town Pump Charitable FoundationFY2023$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 7 grants · $691K · 2020–2024
Human Resource Development Council of District Ix INCMT · FY2024$108,000
Bozeman Area Chamber of CommerceMT · FY2024$42,925
Human Resource Development Council of District Ix INCMT · FY2023$334,000
Bozeman Area Chamber of CommerceMT · FY2023$50,475
Bozeman Area Chamber of CommerceMT · FY2022$52,725
Bozeman Area Chamber of CommerceMT · FY2021$58,100
Bozeman Area Chamber of CommerceMT · FY2020$44,468

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$159K
Ln 12
Gifts and grantsLn 1h$159K
Investment incomeLn 3$308
Money outPt IX
$262K
Ln 25
Programscol B$252K
Managementcol C$10K
Owns and owesPt X
−$888
net assets · Ln 32
Cash and savingsLn 1–2$201K
Total assetsLn 16$341K
LiabilitiesLn 26$342K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$159K
Government grantsLn 1e$40K
Investment incomeLn 3$308
Total revenueLn 12$159K
Assets in detailPt X, end of year
CashLn 1$172K
SavingsLn 2$29K
Cash and savings togetherLn 1–2$201K
Other assetsLn 15$140K
Total assetsLn 16$341K
LiabilitiesLn 26$342K
Net assetsLn 32−$888
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$313K$201K
Total assetsLn 16$395K$341K
LiabilitiesLn 26$271K$342K
Net assetsLn 32$125K−$888
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$56K$56K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$100K$100K
Advertising and promotionLn 12$73K$73K
Office expensesLn 13$3K$3K
Other expenses (24a–d)Ln 24$20K$20K
Total functional expensesLn 25$262K$252K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $151K$211K−$60K$70K 990 PDF
FY2023 $822K$691K$131K$130K 990 PDF
FY2022 Viewing $159K$262K−$103K−$888 990 PDF
FY2021 $1.0M$1.2M−$160K$125K 990 PDF
FY2020 $479K$684K−$205K$283K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $158,883 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,035,635$158,575
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $169$308
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,035,804$158,883
I-13 Grants and similar amounts paidPrior year $71,925$55,725
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,123,589$205,994
I-18 Total expensesPrior year $1,195,514$261,719
I-19 Revenue less expensesPrior year −$159,710−$102,836
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $158,883 across 5 lines filed
VIII-1e Government grants$40,400
VIII-1f All other contributions, gifts and grants$118,175
VIII-1h Total contributions, gifts and grants$158,575
VIII-3 Investment incomeExcluded from tax $308$308
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $308$158,883
Part IX · Statement of functional expenses $261,719 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $55,725$55,725
IX-11c Accounting feesManagement $9,630$9,630
IX-11g Other fees for servicesPrograms $100,005$100,005
IX-12 Advertising and promotionPrograms $73,389$73,389
IX-13 Office expensesPrograms $2,578$2,578
IX-24 Other expenses (24a–d)Programs $20,392$20,392
IX-25 Total functional expensesPrograms $252,089 · Management $9,630 · Fundraising $0$261,719
Part X · Balance sheet $340,934 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $210,361$172,255
X-2 Savings and temporary cash investmentsStart of year $102,807$29,041
X-15 Other assetsStart of year $82,214$139,638
X-16 Total assetsStart of year $395,382$340,934
X-25 Other liabilitiesStart of year $270,640$341,822
X-26 Total liabilitiesStart of year $270,640$341,822
X-32 Total net assets or fund balancesStart of year $124,742−$888
X-33 Total liabilities and net assetsStart of year $395,382$340,934
Part XI · Reconciliation of net assets −$888 net assets at year end
XI-1 Total revenue$158,883
XI-2 Total expenses$261,719
XI-3 Revenue less expenses−$102,836
XI-4 Net assets at start of year$124,742
XI-8 Prior period adjustments−$22,794
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$888

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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