2021 MCF Annual Report

ANNUAL REPORT 2021 Statewide Partnerships. Local Impact.

WELCOME

STATEWIDE PARTNERSHIPS. LOCAL IMPACT. Dear Friends, Great things are happening across Montana.

Despite the challenges of the last two years, Montana individuals, organizations, and communities have stepped up to care for this state we love. You’ve adapted and adjusted in the face of adversity and uncertainty. We’ve seen the increased generosity of our donors, the hard work of our nonprofit partners, and the resiliency of our communities.

Kelly Bruggeman Board Chair, 2021

The Montana Community Foundation (MCF) is proud to support this great work and inspire giving for the good of Montana forever.

We are committed to leveraging the power of a statewide network of community partners and donors to create local and lasting impact in Montana communities through leadership, collaboration, and philanthropic investments across the state. Together we work to address Montana’s greatest needs and support all Montanans, now and for future generations.

Mary K. Rutherford President and CEO

Our new strategic plan guides and informs this work. We put our values to practice in everything we do. We strive to serve with integrity and excellence while actively seeking and hearing all voices and perspectives.

We are enormously grateful to our supporters - fellow lovers of Montana committed to a strong future for our great state. Time and time again, we see what is possible through strategic and effective philanthropy and partnerships.

Together, we will continue to make great strides for Montana.

Thank you for your generosity and support.

Kelly Bruggeman Board Chair

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MONTANA COMMUNITY FOUNDATION

Mary K. Rutherford President & CEO

OUR STRATEGY MAP

Mon t

n

Adhere to the highest standards of financial management

u atio

at

o

n

S

tr

Serve as the go-to place for philanthropy

nd

an

a

mmunity F Co o

LO OK ING FORWA R D

Create a vibrant organizational culture

egic Directi

Support initiatives that positively impact Montana communities

FY 2022 - 2024

MISSION:

VISION:

Cultivate a culture of giving so Montana communities can flourish.

Inspire giving for the good of Montana forever.

VALUES: Generosity Impact Integrity Excellence Inclusion

VIBRANT ORGANIZATIONAL CULTURE:

FINANCIAL:

MCF supports the people that make our work possible.

MCF is a good steward of the resources entrusted

We work to ensure our staff and statewide Board of

to us through effective financial management.

Directors have what they need to serve, learn, and grow.

PHILANTHROPY:

KEY STRATEGIC PRIORITIES:

MCF guides people to discover, understand, and embrace

MCF engages in conversations and initiatives

their ability to affect long-term change and enrich their

that are important, relevant, and positively

communities through giving. We also ensure charitable

impact Montana communities.

funds make the greatest impact for Montana and beyond.

2021 ANNUAL REPORT

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O UR IMPAC T

OUR IMPACT Our mission is to cultivate a culture of giving so Montana communities can flourish, generation after generation. This generosity supports a variety of causes and issues facing Montana through grants, scholarships, and annual endowment distributions.

“Being aware of and responding to the needs of others is not charity, it is part and parcel of living in a community.”

D AV I D A U E R

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MONTANA COMMUNITY FOUNDATION

2021 HIGHLIGHTS TOTAL ASSETS: $163.5 MILLION 2017 2018 2019

$

$ TOTAL CONTRIBUTIONS

88 MILLION $

TOTAL FUNDS

13M

764

NEW FUNDS

TOTAL # OF PLANNED GIFTS

$

100.5 MILLION $

O UR IMPAC T

Ensuring Montana’s Future

108.2 MILLION

2020

$

2021

124 MILLION $

Planned Gifts

163.5 MILLION

Non-Permanent Assets

629

80

Endowed Assets

Grants & Distributions

The orange dots denote where grants and annual endowment distributions were made in Montana. The red dots show the hometowns of scholarship recipients.

SCHOLARSHIPS AWARDED

446,967

$

STUDENTS SERVED

201

TOTAL GRANTS AND DISTRIBUTIONS

5.7M

$

Scholarships

COMMUNITIES SERVED

171

2021 ANNUAL REPORT

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DISA S T ER R E COV ERY

HELPING COMMUNITIES RECOVER AND REBUILD In 2017, MCF established the Montana Disaster Relief Fund (MDRF) to provide TOTAL GRANTS AWARDED statewide support to Montana TO SUPPORT RECOVERY EFFORTS SINCE 2017 communities affected by a $ devastating wildfire season.

Now, MDRF continues to work with Montana communities by providing financial support to recover from and prepare for disasters.

996,554

In 2021, MCF granted $419,900 to communities statewide to support long-term COVID-19 recovery efforts. The funding supported a variety of recovery projects, including childcare and infrastructure projects, as well as provided direct assistance to food banks and nursing homes.

Through MDRF, MCF has also been able to build some important partnerships including an ongoing relationship with The Funders Network (TFN) and is a participant of TFN’s Philanthropic Preparedness, Resiliency and Emergency Partnership (PPREP) cohort. Through our participation in PPREP, we have continued to build valuable partnerships, learn lessons in disaster recovery philanthropy, and have received various grants to distribute within our state.

In 2021, we received a total of $105,000 in grants from PPREP to support disaster recovery efforts in Montana.

A $10,000 grant helped families in rural Montana impacted by summer wildfires and Montana No Kid Hungry received $40,000 to support their work with Tribal communities on Indigenous food sovereignty projects. In addition, we made grants to the Central Montana Foundation to support recovery efforts after a devasting wildfire in Denton in early December, and to the Native American Community Development Corporation (NACDC) Financial Services to support those impacted by winter wildfires on the Blackfeet Reservation.

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MONTANA COMMUNITY FOUNDATION

An American Red Cross responder assists with feeding operations in Southeast Montana in response to wildfires.

DISA S T ER R E COV ERY

Participants of the Insta-success with Instant Pots program gather with their new Instant Pots.

Grant Highlight

Grant Dollars at Work to Support Indigenous Food Sovereignty in Montana Indigenous food sovereignty helps address hunger by enabling individuals and communities to have more control of how their food is produced, what is produced and consumed, and how food is prepared.

Tribal Nations in Montana are leading the way. Times of emergency and disaster only highlight the importance of this, especially when government and community food programs are overwhelmed or forced to close, such as we have seen during the pandemic.

Because of our partnership with PPREP funding, MCF was able to support Montana No Kid Hungry’s Native-led food security and food sovereignty efforts through grants.

These funds were re-granted to support Indigenous food sovereignty projects on four reservations in Montana.

One recipient, the Montana State University Federally Recognized Tribal Extension Program (MSU FRTEP) on the Flathead Reservation, used the funding to support their new program, Insta-success with Instant Pots, which was created in response to a challenge the local food bank and high school backpack programs were experiencing.

Individuals were passing up pantry items like dried beans and unprocessed foods because they did not have the equipment or knowledge to cook these healthier items.

The Insta-success with Instant Pots program is a 9-week cooking class series, led by a Supplemental Nutrition Assistance Program (SNAP) educator and offered to individuals eligible for or using SNAP benefits.

According to Brenda Richey, MSU FRTEP-Flathead Reservation Agent, “These classes provide a holistic approach to healthy eating and exercising habits.

Participants not only learn how to safely prepare a variety of foods but are also empowered to take charge of how their food is produced. Additionally, they receive the equipment they need such as measuring cups, a cutting board, and eventually an Instant Pot after they have completed 6 of the 9 classes.”

The program initially only served adults, but with the funding received from Montana No Kid Hungry through MCF, they were able to extend the program to three local high schools where juniors and seniors can now take the classes.

2021 ANNUAL REPORT

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WOMEN’ S F O UNDAT ION

LISTENING TO THE CHANGING NEEDS OF MONTANA WOMEN AND GIRLS The Women’s Foundation of Montana (WFM) is a strategic initiative of MCF that supports Montana women and girls by advancing women’s economic independence and creating a brighter future for girls.

In 2021, WFM committed time and resources to listening to the changing needs of Montana women in a dramatically different landscape for gender equity caused by the COVID-19 pandemic. We hosted two webinars with five leaders from across the state, interviewed women from eight communities, facilitated six focus groups, and collected surveys from women across the state.

The results of these conversations will inform and guide our continued work of bringing women together to work through the issues that affect women today, tomorrow, and forever.

Kylie Gursky Leads WFM as Program Officer In May, Kylie Gursky joined MCF as Program Officer for WFM. Kylie previously worked at Montana Women Vote and has over 15 years of experience in the nonprofit sector. She also previously worked at the Montana Human Rights Network and the Social Justice Fund (Seattle). As Program Officer, Kylie leads the effort to support the work of WFM centered on grantmaking, advocacy, and research.

July 1, 2020 – June 30, 2021

Committee Members KALI WICKS, Chair (Helena)

AIMEE GRMOLJEZ (Helena)

JAYNE MORROW, Vice-Chair (Chinook)

BARBARA BESSETTE (Great Falls)

HILLARY FOLKVORD, Past Chair (Bozeman)

KRISTINA DAVIS (Great Falls)

CAMI SKINNER, MCF Board Liaison (Sidney)

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MONTANA COMMUNITY FOUNDATION

In 2021, WFM benefitted from the generosity of two legacy gifts to make a meaningful impact for Montana women and girls and triple WFM’s resources.

MARDELE MARYOTT

Red Lodge Music Teacher Leaves Million Dollar Legacy Last year, we were pleasantly surprised to learn that Mardele Maryott, a music teacher from Red Lodge, had left her entire estate to MCF for the benefit of WFM. Mardele’s gift will total more than $1.1 million. MCF was informed of the gift by Sol Lovas, a longstanding WFM advocate and Mardele’s attorney.

Mardele’s estate included real estate in Red Lodge, as well as other assets.

Mardele was born and raised in Red Lodge. Upon graduating high school, she moved to the Midwest to earn a bachelor’s degree in piano performance and later a master’s degree. “She did a teaching stint in Mississippi after her education but her beloved Montana was beckoning her back. She loved the Montana mountains.”

Mardele also shared her gift of music with hundreds of students. She will be remembered for her kindness and love of people.

URSULA PAPPAS

Estate Gift Will Benefit Generations of Women and Girls Ursula Pappas committed an estate gift of $1 million to MCF to benefit WFM after her passing.

Giving to an endowment enables her to fulfill her philanthropic goals of supporting a cause she cares about and giving in a way that keeps on giving to others long after she’s gone.

Growing up poor in a steel-making town, Ursula always wanted to do more and had the opportunity to do so. She desires to help others, especially women, have the same chance.

Ursula is a former resident of Pittsburgh where she and her late husband, Michael, established a successful court reporting business. After her husband’s passing at a young age, Ursula continued to grow the business and traveled extensively, making frequent trips to Montana. She was drawn to its beauty and decided to split her time between Arizona and Montana before establishing a permanent residence in Eureka after retiring in 2006. Ursula is also a former committee member and longtime supporter of the Tobacco Valley Community Foundation.

2021 Grantmaking We awarded $8,000 in grants from WFM to the following organizations which serve Montana women and girls.

AAUW-Montana

Montana Women Vote

Montana Budget and Policy Center

Thrive

2021 ANNUAL REPORT

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WOMEN’ S F O UNDAT ION

Legacy Gifts to Support Generations of Women and Girls

F UND HIG HL IG H T

HELPING ADDRESS STATEWIDE ISSUES THROUGH PHILANTHROPY

The Snowbird Fund Almost every Indigenous person in Montana living on tribal land knows a friend, relative, or community member who has had a loved one go missing. Lack of resources and jurisdictional issues means their cases often go cold, and families and communities are left to search for the loved ones they’ve lost, often at their own expense. The Missing and Murdered Indigenous People (MMIP) epidemic, which has been a problem for decades, continues to spread across Native communities in Montana and the nation.

Last February, the Snowbird Fund was established at MCF

by Montana businesswoman Whitney Williams, in response to this growing issue. Whitney opened the fund, the first of its kind in the US, after hearing from, among others, a Crow 10

MONTANA COMMUNITY FOUNDATION

tribal member, Grace Bulltail, whose 18-year-old niece, Kaysera Stops Pretty Places, was found murdered in Big Horn County in August 2019.

In 2021, the fund provided $6,000 in direct assistance to families and individuals leading searches for their missing loved ones, supporting nine community searches.

This funding helped cover expenses such as gas, lodging, and search and rescue efforts. One grant helped purchase a plane ticket for a young woman to return home.

We are committed to serving as the agent of the philanthropist in service to Montana. Donors establish funds at MCF to support causes they believe in and to positively impact Montana people and their communities.

F UND HIG HL IG H T

Montana Mental Health Access Fund Montana has one of the highest suicide rates in the country, yet mental health access remains a challenge to many, especially those living in rural and tribal communities.

There is a clear need to increase access to mental health services across the state to address this crisis.

To help increase access, Frontier Psychiatry, a Montana-based telepsychiatry service, established the Montana Mental Health Access Fund at MCF in 2021 to leverage technology and other resources to increase access to mental health services to every corner of Montana. Their goal is to make timely psychiatric care accessible to every Montanan by 2025.

A $150,000 grant from AMB West Philanthropies helped seed the fund and will provide mental health support to children living on the Crow, Flathead, and Fort Peck Indian Reservations, which are faced with everincreasing mental health challenges. Additional contributions are helping further the impact of the fund to provide grant support to all Montana communities that lack access to psychiatric care.

2021 ANNUAL REPORT

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F UND HIG HL IG H T

CREATING A LEGACY IN MONTANA COMMUNITIES Endowed funds are permanent philanthropy that make a lasting impact, ensuring Montana’s future.

Robert G. Pedersen Endowment Lifetime resident of Libby, Robert (Bob) Pedersen, was the man to call when you had an electrical issue to be solved.

Now he leaves a lasting impact in the place he loved through a legacy gift that will forever benefit Lincoln County. Mr. Pedersen’s $1.2 million estate gift created the Robert G. Pedersen Endowment, a permanent fund that will provide approximately $50,000 annually for the Libby area by 2024.

Bob was born and raised in Libby and often took advantage of the great outdoors as an avid fisherman and hunter, most often with his brother Ron by his side. He went to school in Libby and graduated from Libby High School in 1948. Upon graduation, Bob worked briefly at J. Neils Lumber Company before enlisting in the Air Force where he learned how to repair the cameras being used on the B29s. Four years later, he enrolled as a student at Gonzaga University where he graduated first in his class with a degree in electrical engineering.

Bob then returned to Libby where he spent his career working for the J. Neils Lumber Company and St. Regis Lumber Company and lived in his childhood home up until a few years before his passing on September 29, 2020, at age 89. Friends and community members recall many times when the mill was entirely shut down for mechanical problems and Bob was consulted to help due to his uncanny ability to get the mill up and running again.

“We are so grateful to Mr. Pedersen for giving back to the Libby community in this way and supporting our mission of showing we care, today and tomorrow.”

PA U L A D A R K O - H E N S L E R CHAI RPERSO N O F L I N C O L N C O U N T Y C O M M U N I T Y F O U N D AT I O N

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MONTANA COMMUNITY FOUNDATION

Rita Heizer had a flair for the arts and a deep connection to the Billings community.

As a supporter of many local organizations, she will be remembered for her generous spirit and her part in caring for the place she loved. Rita passed away last September but her legacy continues through the John and Rita Heizer Endowment Fund, which will provide lasting support to the Billings Studio Theatre (BST), where she spent countless hours as an actress and volunteer.

“John and Rita Heizer were vital members of the Billings Studio Theatre family,” says A.J. Kalanick, BST Executive Director. “Their involvement extended from being two of our most loyal patrons to Rita’s active involvement as a volunteer. It is hard to walk the halls of BST and not be reminded of their largeness and time dedicated to the theatre.“ In 1997, Rita and her husband, John, wanted to support their local community while also receiving income during their lifetime. They established a charitable remainder trust at MCF through a donation of real estate. This enabled the couple to receive annual income payments. After John’s passing, Rita continued to receive these payments for the rest of her life.

With the passing of both John and Rita, the John and Rita Heizer Endowment Fund will provide annual awards to BST forever.

“As John and Rita faithfully supported Billings Studio Theatre during their lifetime, the John and Rita Heizer Endowment Fund will ensure that their support will continue for generations to come.”

2021 ANNUAL REPORT

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F UND HIG HL IG H T

John and Rita Heizer Endowment

SC H OL A R SHIP S

CONNECTING STUDENTS WITH HIGHER EDUCATION In 2021, MCF awarded nearly $450,000 in scholarships to 201 Montana students. Scholarships are supported through funds established by generous donors committed to seeing Montana students succeed. In total, MCF administered 47 scholarships during the scholarship season last spring.

Scholarships not only help offset the cost and financial stress that often comes with pursuing continued education but students who attend education beyond high school generally have increased earning potential and experience lower rates of poverty.

Thank you so much for select ing me as a re the Reiland M cipient of emorial Schol arship! This sc helped me not ho larship stre I am beyond g ss as much about affording college. rateful for your help with my co career and am llege so excited to be going into nurs Montana Tech University. ing at Cain Cole 2021 scholars hip recipient

Scholarships allow students to pursue their dreams and achieve their academic goals. We love to hear from our scholarship recipients about the impact this support has on their future.

Cheyloe Forbes and the Reiland Memorial Scholarship As a funeral director in Bozeman, Cheyloe Forbes finds her job to be very rewarding as she feels comforting people in a time of loss is a form of ministry. Her journey to becoming a mortician, in part, started with a scholarship from MCF. In 2011, Cheyloe received the Reiland Memorial Scholarship, which is a scholarship awarded to graduating seniors or past alumnus of Chester-Joplin-Inverness High School in Liberty County. She used the scholarship to attend Flathead Valley Community College and graduated in 2014 with a degree in surgical technology. From there, she moved to Bozeman to work in labor and delivery.

Cheyloe’s ultimate goal was to attend mortuary school, so she decided to attend school online at Arapahoe Community College for a degree in mortuary science and 14

MONTANA COMMUNITY FOUNDATION

funeral directing. She graduated in 2019 and now works full-time as a licensed mortician in Bozeman. She also still works part-time in labor and delivery. Cheyloe says she “is grateful to work from life to death and for the support the scholarship provided in helping her dreams come true.”

The Reiland Memorial Scholarship Fund is named after Madge Reiland, a rural elementary school teacher and farmer in north Liberty County who passed away in 1975.

Madge wanted a way to benefit Liberty County students and ensure they would have the financial resources they needed to continue their education. In her will, she left her farmland estate to an education trust managed by friends to benefit the local community and provide scholarships.

In 2001, the Reiland Memorial Scholarship Fund was endowed at MCF. As an endowment, it generates income each year to support local students, like Cheyloe.

SC H OL A R SHIP S

2021 ANNUAL REPORT

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LOCAL COMMUNITY FOUNDATIONS

LCF Affiliates at Work in their Communities

SUPPORTING A NETWORK OF LOCAL COMMUNITY FOUNDATIONS WITH A SHARED VISION FOR MONTANA MCF partners with 45 Local Community Foundation (LCF) Affiliates that are hard at work helping their communities flourish and grow.

The Missoula City-County Health Department provides a mobile COVID-19 testing clinic in the Seeley Lake Community Foundation parking lot.

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MONTANA COMMUNITY FOUNDATION

Keith Jackson, Last Chance Photography

Joshua Murdock, The Boulder Monitor

The ELKHORN COMMUNITY FOUNDATION awarded grants to seven community organizations to support local tourism efforts, a trailer for the town’s miniature train, equipment for the fire station, installation of a playground, improvements to Clancy school, and the development of land for the forthcoming animal shelter.

The DARBY TOWN ENDOWMENT FUND awarded $8,400 in grants to benefit three organizations in Darby. One grant went to Sapphire Community Health to purchase books for the Dolly Parton Imagination Library of Ravalli County, a book gifting program that mails free, high-quality books to children up to age 5, no matter their family’s income.

HELENA AREA COMMUNITY FOUNDATION hosted its second annual Helena Holiday Cruise. The event first kicked off in December 2020 as a safe way for friends and families to enjoy some Christmas fun from their vehicles. Participants receive snacks and a map of Christmas light displays around town. Well-loved by the community, it returned for a second year in 2021.

The RED LODGE AREA COMMUNITY FOUNDATION is restoring and revitalizing the Roosevelt Center, which grew out of the community’s desire to create a community center for the arts and provide a facility for performances, education, community gatherings, and more.

The SEELEY LAKE COMMUNITY FOUNDATION has offered their parking lot as a remote COVID-19 testing site on Tuesdays, through the Missoula City-County Health Department, for the last year and a half. They have hosted 5 vaccine and booster clinics. They also received the 2021 Outstanding Foundation Award from the Missoula Nonprofit Center for their community and fundraising efforts to benefit Seeley Lake.

2021 ANNUAL REPORT

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LOCAL COMMUNITY FOUNDATIONS

The COMMUNITY FOUNDATION OF NORTHERN ROSEBUD COUNTY sponsored the first-ever Newcomers Welcome Event. More than 55 Forsyth area new residents attended. The event included great food, music courtesy of the local elementary school music department, and a warm welcome from the community.

V E T ER A N SUPP ORT

SUPPORTING VETERAN CAUSES ACROSS MONTANA In 2019, the Montana Veterans Fund was established as a permanent endowment to carry on the legacy started by the Big Sky Honor Flight.

Through ongoing support, MCF has awarded $20,000 from the fund to support mental health for veterans causes in Montana. The Montana Veterans Fund awarded a $10,000 grant to the Adaptive Performance Center of Billings and $10,000 in grants to support Indigenous veterans in Montana.

The Adaptive Performance Center (APC) serves disabled veterans and helps them improve and maintain as much

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MONTANA COMMUNITY FOUNDATION

independent active living as possible. APC’s fitness environment encourages reintegration among veterans, and they are exclusive to military personnel. They believe in the motto “move your body, heal your mind” and using physical fitness to improve post-traumatic stress disorder, limit depression, and lessen anxiety.

MCF also supported mental health services for Indigenous veterans by granting to veterans centers on the Flathead, Blackfeet, Fort Peck, and Northern Cheyenne Reservations.

Tribal Veterans Centers in Montana provide critical services to Indigenous veterans.

THANK YOU

Thank you for your support of the Montana Community Foundation and giving for the good of Montana forever.

2021 ANNUAL REPORT

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Board of Directors B OA R D

July 1, 2020 – June 30, 2021

Laura Brehm

Kelly Bruggeman

Ed Eck

Jo Ann Eder

Greg Hanson

Missoula

Billings

Missoula

Red Lodge

Phillipsburg

Duane Kurokawa

Karen Latka

Tom McGree

Dan McLean

Tawnya Rupe Mraz

Wolf Point

Helena

Helena

Helena

Wilsall

Scott Pankratz

Bryson Pelc

Mary Ann Phipps

Jon Rutt

Cami Skinner

Missoula

Kalispell

Glendive

Laurel

Sidney

Leonard Smith Billings

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MONTANA COMMUNITY FOUNDATION

MCF Staff As of December 31, 2021

S TA F F

Jim Bennett

Cathy Cooney

Kelly Curtis

Elisa Fiaschetti

Kay Gray

Philanthropy Officer

Director, Donor Services

AmeriCorps VISTA, Women’s Foundation of MT

Program Officer, Grantmaking

Senior Accountant

Kylie Gursky

Diane Hulst

Daphne Kurtz

Joanne MacIsaac

Sarah Morris

Program Officer, Women’s Foundation of MT

Senior Accountant

Office Manager

Finance Associate

Executive Assistant

Alison Munson

Heather Ohs

Mary Rutherford

Jenny Stark

Jessica Stewart-Kuntz

Database Manager

Philanthropy Officer

President & CEO

Scholarship Manager

Vice President, Philanthropy

Maggie Sullivan

Kacie Tollefson

Teal Whitaker

Kristin Williams

Program Associate, Local Community Foundations

Controller

Director of Communications

Communications Associate

2021 ANNUAL REPORT

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F IN A NC I A L S

Our Investment Philosophy At MCF, we are all about Montana’s future. We provide sustainable funding for philanthropy in Montana through thoughtful fund distributions and long-term investing so charitable gifts deliver the greatest impact for generations to come.

Investment Pool Assets (As of 12/31/20)– $111.3 Million Our pooled investment portfolio is designed with this long-term view in mind.

Treasuries 10% Global 11.2 U.S. 21.6 Develop ex-US Equity 17.8 Em Eq 4.5 Priv Inv 10.5 Div Strategies 14.6 Comm 2.5 Tips 2.3 Treasures 10 Cash 5.1

TIPS 2.3%

Cash 5.1% Global Equity 11.2%

Commodities 2.5%

Diversifying Strategies 14.6% U.S. Equity 21.6%

Emerging Markets Equity 4.5%

Private Investments 10.5%

Developed Ex-U.S. Equity 17.8%

$142.7 Million Pooled Endowment (As of December 31, 2021)

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MONTANA COMMUNITY FOUNDATION

F IN A NC I A L S

As of June 30, 2021

Financial Summary CONSOLIDATED STATEMENT OF

CONSOLIDATED STATEMENT OF

AS OF JUNE 30, 2021 & 2020

FOR YEARS ENDED JUNE 30, 2021 & 2020

FINANCIAL POSITION ASSETS

ACTIVITIES

2021

2020

Cash and cash equivalents

$1,265,633

$1,853,318

Contributions

Pooled investments

158,757,403

119,369,574

Net property and equipment

2,021,496

2,101,676

Other assets

1,444,593

716,607

$163,489,125

$124,041,175

TOTAL ASSETS

SUPPORT AND REVENUE

2021

2020

$12,304,867

$18,881,872

Community impact fees

419,740

540,327

Net investment return

31,187,158

2,347,775

Change in value planned gifts and PIF

(254,774)

(191,129)

Rental and other income

486,562

240,137

$44,143,553

$21,818,982

2021

2020

TOTAL SUPPORT AND REVENUE

LIABILITIES AND NET ASSETS

2021

2020

Grants and distributions payable

$1,345,990

$1,157,368

EXPENSES

Planned gift liabilities

3,750,127

3,338,460

Total grant and philanthropic distributions

$6,668,907

$4,967,893

Long-term debt

1,520,435

1,776,440

Total operating and administrative expenses

1,595,769

1,622,189

Funds held as agency endowments

14,186,343

10,971,279

TOTAL EXPENSES

8,264,676

6,590,082

127,841

118,116

INCREASE IN NET ASSETS

35,878,877

15,228,900

TOTAL LIABILITIES

20,930,736

17,361,663

NET ASSETS, beginning of year

106,679,512

91,450,612

Without donor restrictions

1,384,919

484,195

$142,558,389

$106,679,512

Time or purpose

13,458,950

14,065,904

Unappropriated earnings

32,042,849

8,839,247

Perpetuity

95,671,671

83,290,166

Total with donor restrictions

141,173,470

106,195,317

TOTAL NET ASSETS

142,558,389

106,679,512

TOTAL LIABILITIES AND NET ASSETS

$163,489,125

$124,041,175

Other liabilities

NET ASSETS, end of year

With donor restrictions

2021 ANNUAL REPORT

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For the good of Montana forever.

PO Box 1145

Helena, MT 59624

p 406.443.8313

f 406.442.0482

e info@mtcf.org

www.mtcf.org