Gallatin Foundation Incorporated: FY2023 Nonprofit Profile & Form 990 (EIN 36-3652247)

Revenue by fiscal year
FY2020	$479K
FY2021	$1.0M
FY2022	$159K
FY2023	$822K
FY2024	$151K

Expenses by fiscal year
FY2020	$684K
FY2021	$1.2M
FY2022	$262K
FY2023	$691K
FY2024	$211K

Net assets by fiscal year
FY2020	$283K
FY2021	$125K
FY2022	−$888
FY2023	$130K
FY2024	$70K

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

94 cents of each dollar spent went to programs.

94%

Program services 94% · $653K Management & general 6% · $38K

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 · $653K · in their own filed words · FY2023

01

Community support

$384Kprogram expense

02

Tourism air travel promotion program

$269Kprogram 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 FY2023 990, line by line.

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1The main four

Money inPt VIII

$822K

Ln 12

Gifts and grantsLn 1h$814K

Investment incomeLn 3$9K

Money outPt IX

$691K

Ln 25

Programscol B$653K

Managementcol C$38K

Owns and owesPt X

$130K

net assets · Ln 32

Cash and savingsLn 1–2$553K

Total assetsLn 16$553K

LiabilitiesLn 26$423K

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$814K

Government grantsLn 1e$345K

Investment incomeLn 3$9K

Total revenueLn 12$822K

Assets in detailPt X, end of year

CashLn 1$401K

SavingsLn 2$152K

Cash and savings togetherLn 1–2$553K

Other assetsLn 15$0

Total assetsLn 16$553K

LiabilitiesLn 26$423K

Net assetsLn 32$130K

OperationsPt I, VI

EmployeesI 50

VolunteersI 635

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$201K	$553K
Total assetsLn 16	$341K	$553K
LiabilitiesLn 26	$342K	$423K
Net assetsLn 32	−$888	$130K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$384K	$384K
Accounting feesLn 11c	$17K		$17K
Other fees for servicesLn 11g	$37K	$16K	$21K
Advertising and promotionLn 12	$32K	$32K
Office expensesLn 13	$4K	$4K
OccupancyLn 16	$100K	$100K
TravelLn 17	$3K	$3K
Other expenses (24a–d)Ln 24	$114K	$114K
Total functional expensesLn 25	$691K	$653K	$38K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$151K	$211K	−$60K	$70K	990 PDF
FY2023 Viewing	$822K	$691K	$131K	$130K	990 PDF
FY2022	$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 FY2023 990 (6 parts)

Part I · Summary $822,424 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $158,575$813,509

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $308$8,915

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $158,883$822,424

I-13 Grants and similar amounts paidPrior year $55,725$384,475

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 $205,994$306,742

I-18 Total expensesPrior year $261,719$691,217

I-19 Revenue less expensesPrior year −$102,836$131,207

Part VI · Governance 4 of 4 board members independent, 1 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $822,424 across 5 lines filed

VIII-1e Government grants$344,664

VIII-1f All other contributions, gifts and grants$468,845

VIII-1h Total contributions, gifts and grants$813,509

VIII-3 Investment incomeExcluded from tax $8,915$8,915

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,915$822,424

Part IX · Statement of functional expenses $691,217 across 8 lines filed

IX-1 Grants to domestic organizationsPrograms $384,475$384,475

IX-11c Accounting feesManagement $16,800$16,800

IX-11g Other fees for servicesPrograms $15,872 · Management $21,350$37,222

IX-12 Advertising and promotionPrograms $32,251$32,251

IX-13 Office expensesPrograms $4,000$4,000

IX-16 OccupancyPrograms $100,000$100,000

IX-17 TravelPrograms $2,890$2,890

IX-24 Other expenses (24a–d)Programs $113,579$113,579

IX-25 Total functional expensesPrograms $653,067 · Management $38,150 · Fundraising $0$691,217

Part X · Balance sheet $553,306 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $172,255$401,007

X-2 Savings and temporary cash investmentsStart of year $29,041$152,299

X-15 Other assetsStart of year $139,638$0

X-16 Total assetsStart of year $340,934$553,306

X-25 Other liabilitiesStart of year $341,822$422,987

X-26 Total liabilitiesStart of year $341,822$422,987

X-32 Total net assets or fund balancesStart of year −$888$130,319

X-33 Total liabilities and net assetsStart of year $340,934$553,306

Part XI · Reconciliation of net assets $130,319 net assets at year end

XI-1 Total revenue$822,424

XI-2 Total expenses$691,217

XI-3 Revenue less expenses$131,207

XI-4 Net assets at start of year−$888

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$130,319

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Gallatin Foundation Incorporated FY2023 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Gallatin Foundation Incorporated

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV