Gallatin Valley Land Trust

Tax-deductible

Bozeman, MT501(c)(3)EnvironmentEIN 81-0464513Revenue $3.7M in FY2025

On file with the IRSgvlt.orgPo Box 7021, 59771-7021 · Bozeman, MTTax-exempt since Dec 1994Publicly supported charity — 170(b)(1)(A)(vi)

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Gvlt connects people, communities, and open lands through conservation of working farms and ranches, healthy rivers, wildlife habitat, and the creation of trails in the montana headwaters of the missouri and upper yellowstone rivers.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Run by 640 volunteers and 17 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $998K a year · 30% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$644K
to officers and key staff · 17% of spending
Top officer’s pay higher than 80% of similar orgs
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 12.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $723K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.7M
-24% vs prior year
Spent
$3.7M
To programs
77%
Net assets
$14.6M
By yearFY2020–FY2025
Revenue
$3.7M
FY2025▼ -24%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.1M
FY2023$3.9M
FY2024$4.9M
FY2025$3.7M
Expenses
$3.7M
FY2025▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2023$2.2M
FY2024$3.1M
FY2025$3.7M
Net assets
$14.6M
FY2025▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.3M
FY2021$9.0M
FY2023$11.6M
FY2024$13.9M
FY2025$14.6M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1994.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $2.9M Management & general 9% · $325K Fundraising 14% · $516K

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

23 people listed on the 990; $644K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Dir.
$187,497Pt VII · Sec A
Associate Director
$123,277Pt VII · Sec A
Conservation Dir.
$121,108Pt VII · Sec A
Development Dir
$107,076Pt VII · Sec A
Trails Director
$104,696Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Charles Work’s $187K as Executive Dir. is at the 80th percentile of top reported officer pay among 1851 $1–10M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2021FY2020
Charles Work$187,497$156,618$142,256$74,325—
Ej Porth$123,277$108,507———
Brendan Weiner$121,108$111,819———
Justin Barth$107,076————
Matthew Parsons$104,696————
Penelope Pierce———$41,756$99,513

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Conserves farms, rivers, and habitat, creating trails to connect people with open lands.

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Provided by the organization

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3 programs · $2.9M · in their own filed words · FY2024
01

Land Conservation GVLT furthered its mission to conserve working farms and ranches, wildlife habitat, and river corridors in Southwestern Montana. We identify strategic areas with high conservation values and conserve blocks of open land that protect special parts of our landscape.

$2.0Mprogram expense
02

Community Trails GVLT connects people, communities, and the land through public trails and collaborative trail projects. We completed the Burke Park Traverse; trail enhancements to Triple Tree, Drinking Horse, and Painted Hills trails; and created all-abilities trails in Sunset Hills.

$748Kprogram expense
03

Education GVLT shares news with over 10,000 monthly e-newsletter subscribers and more than 16,000 social media followers on community trails, private land conservation, and related public events. GVLT publishes our audited financial statements, IRS Form 990s, and annual reports on our website.

$150Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$723K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$3.7M
Ln 12
Gifts and grantsLn 1h$3.4M
Investment incomeLn 3$391K
Fees for servicesLn 2g$102K
Money outPt IX
$3.7M
Ln 25
Programscol B$2.9M
Managementcol C$325K
Fundraisingcol D$516K
Owns and owesPt X
$14.6M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$16.0M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
23
listed · VII A
PaidVII A5
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.4M
Government grantsLn 1e$226K
Noncash giftsLn 1g$78K
Fundraising eventsLn 1c$579K
Fees for servicesLn 2g$102K
Investment incomeLn 3$391K
Gains on assetsLn 7$0
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
CashLn 1$3.5M
SavingsLn 2$385K
Cash and savings togetherLn 1–2$3.9M
InvestmentsLn 11–13$10.2M
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$358K
Total assetsLn 16$16.0M
LiabilitiesLn 26$1.3M
Net assetsLn 32$14.6M
OperationsPt I, VI
EmployeesI 517
VolunteersI 6640
Fiscal year endsHeaderJune
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
LineStart FY25End FY25
Cash and savingsLn 1–2$5.6M$3.9M
InvestmentsLn 11–13$7.7M$10.2M
Land, buildings, equipmentLn 10c$1.3M$1.4M
Total assetsLn 16$15.3M$16.0M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$13.9M$14.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$218K$133K$39K$47K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.4M$933K$192K$317K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$190K$123K$25K$42K
Payroll taxesLn 10$136K$87K$19K$30K
Management feesLn 11a$0
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$29K$2K$18K$9K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$313K$307K$777$4K
Advertising and promotionLn 12$48K$46K$823$1K
Office expensesLn 13$6K$5K$398$486
Information technologyLn 14$79K$61K$7K$11K
RoyaltiesLn 15$0
OccupancyLn 16$166K$129K$15K$22K
TravelLn 17$25K$21K$1K$2K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$19K$14K$2K$3K
InsuranceLn 23$28K$23K$2K$3K
Other expenses (24a–d)Ln 24$986K$959K$3K$25K
All other expensesLn 24e$0
Total functional expensesLn 25$3.7M$2.9M$325K$516K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $3.7M$3.7M$13K$14.6M 990 PDF
FY2024 $4.9M$3.1M$1.7M$13.9M 990 PDF
FY2023 $3.9M$2.2M$1.8M$11.6M 990 PDF
FY2022 Not on file
FY2021 $2.1M$1.5M$656K$9.0M 990 PDF
FY2020 $2.2M$1.4M$818K$7.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $3,719,249 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,307,156$3,364,713
I-9 Program service revenuePrior year $163,126$102,153
I-10 Investment incomePrior year $426,315$391,163
I-11 Other revenuePrior year −$24,237−$138,780
I-12 Total revenuePrior year $4,872,360$3,719,249
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,777,425$1,985,954
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,345,624$1,720,030
I-18 Total expensesPrior year $3,123,049$3,705,984
I-19 Revenue less expensesPrior year $1,749,311$13,265
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,719,249 across 13 lines filed
VIII-1c Fundraising events$578,997
VIII-1e Government grants$226,005
VIII-1f All other contributions, gifts and grants$2,559,711
VIII-1g Noncash contributions (included above)$77,611
VIII-1h Total contributions, gifts and grants$3,364,713
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $102,153$102,153
VIII-3 Investment incomeRelated to mission $391,163$391,163
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax −$143,584−$143,584
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,804$4,804
VIII-12 Total revenueRelated to mission $498,120 · Excluded from tax −$143,584$3,719,249
Part IX · Statement of functional expenses $3,705,984 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $133,052 · Management $38,645 · Fundraising $46,635$218,332
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $933,123 · Management $191,919 · Fundraising $317,367$1,442,409
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $122,552 · Management $25,338 · Fundraising $41,698$189,588
IX-10 Payroll taxesPrograms $87,131 · Management $18,757 · Fundraising $29,737$135,625
IX-11a Management fees$0
IX-11b Legal feesPrograms $21,678$21,678
IX-11c Accounting feesPrograms $1,942 · Management $18,157 · Fundraising $9,383$29,482
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $307,470 · Management $777 · Fundraising $4,369$312,616
IX-12 Advertising and promotionPrograms $45,944 · Management $823 · Fundraising $1,276$48,043
IX-13 Office expensesPrograms $4,643 · Management $398 · Fundraising $486$5,527
IX-14 Information technologyPrograms $60,690 · Management $7,350 · Fundraising $11,357$79,397
IX-15 Royalties$0
IX-16 OccupancyPrograms $129,268 · Management $15,058 · Fundraising $21,750$166,076
IX-17 TravelPrograms $21,136 · Management $1,066 · Fundraising $2,330$24,532
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $14,344 · Management $1,869 · Fundraising $2,700$18,913
IX-23 InsurancePrograms $23,290 · Management $1,924 · Fundraising $2,779$27,993
IX-24 Other expenses (24a–d)Programs $958,642 · Management $2,550 · Fundraising $24,581$985,773
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $2,864,905 · Management $324,631 · Fundraising $516,448$3,705,984
Part X · Balance sheet $15,958,168 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $5,131,943$3,532,636
X-2 Savings and temporary cash investmentsStart of year $467,835$385,164
X-3 Pledges and grants receivableStart of year $126,543$99,925
X-4 Accounts receivableStart of year $200$835
X-8 Inventories for sale or useStart of year $20,143$12,256
X-9 Prepaid expenses and deferred chargesStart of year $9,536$16,917
X-10c Land, buildings and equipment, netStart of year $1,328,822$1,366,096
X-11 Publicly traded securitiesStart of year $7,720,651$10,186,402
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $445,771$357,937
X-16 Total assetsStart of year $15,251,444$15,958,168
X-17 Accounts payable and accrued expensesStart of year $53,578$154,018
X-25 Other liabilitiesStart of year $1,256,815$1,160,384
X-26 Total liabilitiesStart of year $1,310,393$1,314,402
X-27 Net assets without donor restrictionsStart of year $6,232,951$6,852,517
X-28 Net assets with donor restrictionsStart of year $7,708,100$7,791,249
X-32 Total net assets or fund balancesStart of year $13,941,051$14,643,766
X-33 Total liabilities and net assetsStart of year $15,251,444$15,958,168
Part XI · Reconciliation of net assets $14,643,766 net assets at year end
XI-1 Total revenue$3,719,249
XI-2 Total expenses$3,705,984
XI-3 Revenue less expenses$13,265
XI-4 Net assets at start of year$13,941,051
XI-5 Net unrealized gains (losses) on investments$689,450
XI-10 Net assets at end of year$14,643,766

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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