2022 MCF Impact Report

Years of Serving Montana Through Philanthropy

IMPACT REPORT 2022

It all began

years ago...

The Montana Community Foundation (MCF) was established in 1988 by a group of Montanans who believed a statewide community foundation could have a positive and permanent impact in Montana. Though initially the idea was met with skepticism amid the belief Montana was too diverse, too isolated, and had too little wealth to make it happen, MCF’s founders persisted and now, 35 years later, MCF is still connecting donors and recipients, helping Montanans support the state they love.

Today MCF is governed by a diverse board of 18 people who

are leaders located across the state. We have 20 staff, more

than 1,400 regular supporters, nearly 1,500 charitable funds and planned gifts, and a continuously growing number of grants, scholarships, and annual endowment distributions which are awarded every year, throughout the year.

Since 1988, we have given out more than $100 million in grants, scholarships, and annual endowment distributions to benefit Montana communities and beyond.

Read more about our history at www.mtcf.org/35th-anniversary

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The Montana Community Foundation

1988

1991

1992

The Montana Community Foundation was established as a statewide community foundation.

MCF exceeded $5 million in assets.

The West Yellowstone Foundation was established as the first local community foundation affiliate.

1997

1999

2005

The Montana Charitable Endowment Tax Credit was passed into law.

The Women’s Foundation of Montana was established through a $500,000 challenge grant from the Chambers Initiative.

Local Community Foundations affiliated with MCF had grown to 42.

The Women’s Foundation of Montana endowment reached $1 million.

2006

2008

2010

MCF commissioned its first Transfer of Wealth Study which estimated Montana’s generational transfer of wealth over 10 years.

2012 MCF served as a fiscal sponsor for the Big Sky Honor Flights.

2018 MCF exceeded $100 million in assets.

MCF celebrated its 20th anniversary.

MCF and the Women’s Foundation participated in the Cap the Rate Alliance, which helped pass Ballot Initiative I-164, effectively capping the short-term lending rates in the state at 36%.

2016

2017

MCF became the first community foundation in Montana to earn accreditation by the National Standards Board for U.S. Community Foundations.

MCF launched the Montana Disaster Recovery Fund and awarded nearly $600,000 in grants to support communities affected by a devastating wildfire season.

2020

2022

Montana and the world were hit by a global pandemic. MCF mobilized the Montana Disaster Recovery Fund to support Covid-19 recovery.

MCF made a $1 million commitment to Montana by investing a portion of its endowment in Montana housing.

35 Years of Serving Montana Through Philanthropy

3

Celebrating 35 Years of Serving Montana Through Philanthropy Dear Friends, As we reflect on 35 years of “cultivating a culture of giving so Montana communities can flourish,” we are incredibly proud of the work that began in 1988 and has made a permanent impact in Montana since.

At the Montana Community Foundation, the concept of “cultivation” is similar to that of farming which is about preparing the land to enrich the soil and effectively raise crops. We hope to enrich our state by nurturing relationships and encouraging charitable giving to benefit Montana, enabling us to make a permanent and positive impact for local communities.

In MCF’s first annual report, the Chairman of the Board, David Auer, and the Executive Director, Ray Dore, wrote:

Camila Skinner Board Chair, 2023

“The Montana Community Foundation was conceived in a spirit of optimism, vision, and faith in Montana’s future.”

This is still at the heart of what we do.

As Montana continues to grow and change, MCF is focused on cultivating generosity that is helping reshape Montana and supporting the needs of Montana communities now and forever.

Supporters, partners, and believers like you make our work possible. You have helped us reach this remarkable milestone of 35 years.

In 2022 alone, you helped MCF put $9.4 million to work for Montana.

Mary K. Rutherford President & Chief Executive Officer

It is amazing to think about what we can accomplish together as we look toward another 35 years. Thank you for being part of our journey.

Sincerely, Camila “Cami” Skinner Board Chair, 2023

Mary Rutherford President & Chief Executive Officer

Remembering Clark Pyfer When I had doubts- and I did- part of what kept me going was Clark’s unwavering belief in a and His Belief in MCF statewide community foundation. Here was

Clark Pyfer 4

“In 1988, when David Auer, Steve Browning, and Clark convinced me to spend the better part of a year crisscrossing Montana to promote the concept of a statewide community foundation, I was excited by the challenge.

The Montana Community Foundation

one of Montana’s top financial professionals, a man who had served as an active volunteer on dozens of boards, and an individual who always expressed the truth…bluntly, reassuring me that it would work.

WHAT IS A COMMUNITY FOUNDATION: Community foundations are grantmaking public charities that are dedicated to improving the lives of people in a defined local geographic area. (Council on Foundations)

WHO WE ARE: A statewide community foundation that cultivates permanent philanthropy across the state of Montana by acting as a bridge between donors and recipients.

WHAT WE DO: We cultivate, manage, and give charitable donations and grants to make a lasting impact in Montana.

HOW WE DO IT: Through statewide and local partnerships.

By cultivating giving and facilitating grantmaking.

Expert financial management and investments.

Grants and investments that have a measurable impact.

WHY WE DO IT: We want to support, love, and nurture Montana forever.

… A portion of the Foundation’s existence and success is due to his hard work and his absolute certainty that the Montana Community Foundation would succeed.”

— Excerpt of a tribute written in honor of Clark Pyfer by co-founder John Delano in the January 2005 Infinity newsletter.

In 2005, the Montana Community Foundation Administrative Fund was renamed the Founders’ Fund as a nod to Clark Pyfer and other MCF founders. We would also like to specifically thank David Auer, John Delano, and Steve Browning for their part in paving a way forward for MCF in the early years.

35 Years of Serving Montana Through Philanthropy

5

Our Impact 2022 Highlights JULY 1, 2021 - JUNE 30, 2022

Total Assets

Funds & Contributions

(Last 5 Years)

2018

$

2019

100.5 MILLION $

$

108.2 MILLION

2020

$

124 MILLION $

2021 $

2022 Planned Gifts

TOTAL CONTRIBUTIONS

TOTAL FUNDS

$

14.8 M

798

NEW FUNDS

TOTAL # OF PLANNED GIFTS

42

672

163.5 MILLION

152.1 MILLION Non-Permanent Assets

Endowed Assets

Fund Composition 2% Local Community Foundations Nonprofit Organizations

10% 5%

<1%

15%

4%

26%

Women’s Foundation

%

Planned Gifts Funds Benefiting MCF

TOTAL FUNDS

4%

Scholarships MCF Granting (purpose defined) Donor Advised Funds

%

32%

TOTAL DOLLARS

8% 45% <1%

10% 2%

6

The Montana Community Foundation

<1%

34%

Grants, Scholarships, & Annual Endowment Distributions

Annual Endowment Distributions

Scholarships

Grants

The green dots denote where annual endowment distributions were made in Montana. The red dots show where grants were awarded.

The orange dots show the hometowns of scholarship recipients.

SCHOLARSHIPS AWARDED

$

873,842

STUDENTS SERVED

180

TOTAL GRANTS

$

4.1 M

TOTAL ANNUAL ENDOWMENT DISTRIBUTIONS

$

4.3 M

35 Years of Serving Montana Through Philanthropy

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T. E U G E N E Y O U N G

Montana’s Promise Scholarship Provides Opportunities for Montana Students Though T. Eugene Young, also known as Gene, was born and raised in Texas, he felt most at home in Montana. Gene first fell in love with Montana as a seasonal ranger for Yellowstone National Park, while raising money for college. That love would eventually translate into the creation of the T. Eugene Young Montana’s Promise Scholarship, created in 2008 through a bequest to the Montana Community Foundation.

Gene knew the value of a good education and wanted to help young Montanans find stable jobs that would keep them in Montana.

He once told a friend he wanted to leave his fortune to his adopted state of Montana because Montanans worked harder than any other people he had observed elsewhere. He wanted to give back to the people and the place he loved so dearly.

During his life, Gene received an engineering degree from the University of Texas, built warplanes in Kansas, and eventually ended

8

The Montana Community Foundation

up in Montana as a geophysicist for Shell Oil. He enjoyed hiking, backpacking, and crosscountry skiing throughout the region.

Hunter Grimes, a recipient of the T. Eugene Young Montana’s Promise Scholarship, recently graduated from the University of Montana where she completed her degree in Microbiology and Biochemistry. She graduated from the Davidson Honors College as a University Scholar, summa cum laude. The scholarship allowed Hunter to explore various opportunities at the University of Montana.

While working on her degree she was a 4-year member of the marching band, a member of several service-based student groups, and she conducted research in an on-campus biology lab for 3 years.

“Your generous support helped make all of this possible,” said Hunter Grimes. “I look forward to attending medical school and serving communities in rural Montana. Thank you for your support!”

HUNTER GRIMES, UNIVERSITY OF MONTANA 2022 GRADUATE

35 Years of Serving Montana Through Philanthropy

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M O N TA N A D I S A S T E R R E C O V E R Y F U N D

Working with Local Communities To Deploy Resources for Flood Recovery Historic flooding in June 2022 impacted several Montana communities, including Red Lodge, Gardiner, Livingston, and Fromberg, leaving behind damage and devastation.

These communities then looked toward recovery as the waters receded.

One recipient, the Absarokee Community

At the Montana Community Foundation, we soon saw generosity unfold in response to this disaster. Partners and individuals reached out to ask how they could help. The Funders Network, American Bankers Association, and many generous individuals gave to the Montana Disaster Recovery Fund to support the affected communities.

recommendations will be used to seek funding

This generosity resulted in $105,000 in grants awarded to impacted communities.

We partnered with local community foundations and organizations to deploy resources in the most impactful way possible, based on the specific recovery needs of their communities.

10

The Montana Community Foundation

Foundation received $25,000 to support the Stillwater Valley Watershed Council in establishing a River Assessment Triage Team to provide recommendations for restoration and remediation efforts. These to make the watershed more resilient to future disasters.

“We truly appreciate your support. I know the Stillwater Valley Watershed Council will be beyond thrilled to know your deep level of support for our community’s recovery. Your generosity will truly help us persevere!”

The Montana Disaster Recovery Fund was established in response to an unprecedented wildfire season in 2017. Since then, $1.2 million in grants have been awarded from the fund to help communities recover in the aftermath of a disaster.

THE RIVER ASSESSMENT TRIAGE TEAM IN ACTION

35 Years of Serving Montana Through Philanthropy

11

T H E W O M E N ’ S F O U N D AT I O N O F M O N TA N A

Supporting a Pathway to Success for Montana Women and Girls The Women’s Foundation of Montana, a strategic initiative of MCF, supports positive systemic change that benefits women and girls through strategic grantmaking, policy change advocacy, and Women’s Foundation-led initiatives. Since 1999, the Women’s Foundation has granted nearly $1 million to support women and girls in Montana.

Today, the Women’s Foundation is more focused than ever on supporting equity, access, and opportunity for Montana women and girls. We continue to work alongside our partners to build resources and to have a positive impact in Montana.

“We’ve supported

education and careers, and want to pay it forward.

women’s programming

We enjoy giving to the Women’s Foundation

for many years and

because it enables us to support strategic

when the Women’s

investments in the human capital of women and

Foundation of Montana

girls. One way we choose to give is through required

appeared on our

distributions from our retirement accounts which

radar, we were drawn to its comprehensive

Randy Spear and Janice Munsell

benefit from the Montana Charitable Endowment

approach to improving

Tax Credit.”

the future of Montana women and girls. We also had

— Randy Spear and Janice Munsell, a former WFM

friends, family, teachers, and mentors support our

Committee Members

Advisory Committee Member

July 1, 2021- June 30, 2022

KALI WICKS (HELENA)

BARBARA BESSETTE (GREAT FALLS)

JAYNE MORROW (CHINOOK)

KRISTINA DAVIS (GREAT FALLS)

HILLARY FOLKVORD (BOZEMAN)

CAMI SKINNER, MCF BOARD LIAISON (SIDNEY)

AMY ALLISON THOMPSON (MISSOULA)

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also helps with tax management and allows us to

The Montana Community Foundation

2022 Women’s Foundation of Montana Grantees •

Montana Budget and Policy Center (MBPC): $5,000 to support the engagement and leadership of women at MBPC’s annual StateTribal Policy Symposium.

•

Montana Native Growth Fund: $1,500 to support the Big Sky Indigenous Women in Fashion and Art Show and Indigenous Entrepreneurs Business Symposium.

•

Montana Women Vote (MWV): $3,500 to support MWV’s annual Women’s Policy Leadership Institute.

•

Planned Parenthood Advocates of Montana: $10,000, made possible through a grant from the Trotula Fund, to support women’s sexual and reproductive health and rights.

•

Prospera Women’s Business Center: $1,000 to support the Prosperity Party which raises money for the Women’s Impact Grant Program, a state-wide program that helps female entrepreneurs take their businesses to the next level.

•

Red Ants Pants Foundation: $1,000 to support the Red Ants Pants Music Festival which raises money for Red Ants Pants Foundation’s Girls Leadership Program, Timberskills Workshops, and Community Grant Program.

•

Susan Wicklund Fund: $10,000, made possible through a grant from the Trotula Fund, to support women’s sexual and reproductive health and rights.

•

The Mountain | Plains Regional Native CDFI Coalition: $125,000 committed over 5 years to support the Coalition’s Regional Indigenous Finance Industry Growth Plan and Montanabased CDFIs as they serve Indigenous women.

•

Thrive: $3,000 to support the Girls for a Change Program which provides education, opportunities to promote community involvement and connection, leadership skill development, future college/career readiness, and fosters resiliency in the face of challenge.

Women’s Foundation of Montana- page 1- Kylie/Kristin Women’s Foundation of Montana- page 2- Kylie/Kristin Donor story

Sharon Small (left), Executive Director of People’s Partner for Community Development in Lame Deer, and Angie Main (right), Executive Director of NACDC Financial Services in Browning, share smiles during an in-person strategy session with The Mountain | Plains Regional Native CDFI Coalition in New York City.

35 Years of Serving Montana Through Philanthropy

13

W E S T Y E L L O W S TO N E F O U N D AT I O N

Celebrating 30 Years of Service to Their Community In 2022, the West Yellowstone Foundation, the first Local Community Foundation (LCF) Affiliate of the Montana Community Foundation, celebrated 30 years of impact and operation. The West Yellowstone Foundation is undoubtedly a pillar of its community. It provides rural public transportation, community grants, scholarships, fiscal sponsorships, and endowments so West Yellowstone has the resources it needs to thrive for generations.

The West Yellowstone Foundation has grown

The West Yellowstone Foundation was established in 1992 through the generous support of Arne and Steffi Siegel. According to Steffi, she and Arne initially started traveling to West Yellowstone so they could learn to fly fish. They soon also learned how much they loved the community.

the organization’s staff, led by Executive

“After taking a weeklong fly fishing course in West Yellowstone, we fell in love with Montana,” Steffi said. “With that love, grew a desire to support the West Yellowstone community and we began donating to a variety of causes. We then started to wonder how we could donate to one place that would take care of the whole town.”

Million Dollar Arne Siegel Memorial Fund

Inspired by the impact of community foundations in other areas of the country, the Siegels connected with MCF to establish a fund for West Yellowstone’s benefit.

14

The Montana Community Foundation

from the Siegels’ initial $5,000 gift to more than $3.6 million in 18 endowments. Each year, the earnings from these funds are reinvested back into the community. One example is the more than $1 million in post-secondary scholarships West Yellowstone Foundation has awarded to 166 students since the organization’s inception. Along with these financial resources, Director, Carrie Coan, provide leadership and capacity for the community to tackle pressing issues ranging from childcare to affordable housing.

“This year we surpassed our goal for the ‘One Campaign’ to raise funds for our general operating endowment,” Carrie said. “Through the generosity of our community, we are getting closer to self-sufficiency through our endowment funds. It is incredible to think about how far we have come since raising $1,200 at our first fundraiser 30 years ago!”

As the first LCF Affiliate, the West Yellowstone Foundation also helped pave the way for the network of LCFs across Montana today.

Local Community Foundations Make a Meaningful Impact Local Community Foundations (LCFs) across Montana are delivering innovative and lasting solutions to help their communities to thrive.

MCF is proud to partner with 44 LCF Affiliates that are supporting local projects and initiatives through meaningful grantmaking and building permanent philanthropy that will benefit future generations.

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Montana Counties Served

$

493,054 Total Dollars Raised

17.6 MILLION

$

Total Assets at MCF for the Benefit of LCFs

578,595

$ STEFFI SIEGEL. PHOTO COURTESTY OF WEST YELLOWSTONE FOUNDATION..

Reinvested in Montana through LCFs July 1, 2021- June 30, 2022

35 Years of Serving Montana Through Philanthropy

15

For the Good of Montana Forever Legacy giving at the Montana Community Foundation enables donors to leave a meaningful legacy in Montana for the causes they care about. Whether giving to a favorite charity, supporting a local community project, or building a legacy that supports various important causes, legacy giving has a lasting impact.

NEP AND MARY ELLEN LYNCH

A Shared Legacy of Helping Others Neptune “Nep” Alexander Lynch IX grew up on his father’s cattle ranch in Plains, Montana. Though the son of a cowboy, Nep would soon discover his passion was for the trades.

He spent his career working a variety of jobs in logging camps and mills, eventually owning a lumber mill in Idaho and two lumber yards in Montana.

more than 30 years.

Neptune and Mary Ellen Lynch

Soon after high school, Nep married his wife, Mary Ellen. Their love, paired with a lot of determination and grit, is evident through the stories Nep tells of their life together. In reflecting on more challenging times, like living the camp life without running water, Nep says, “I wonder how many women would have done that. I think most women would probably hit the road if they had to move into a shack and not have facilities.”

Nep and Mary Ellen went on to share additional adventures, including having two sons, learning how to fly an airplane, and briefly owning a bowling alley in Salmon, Idaho where they also owned a motel for

16

The Montana Community Foundation

Another thing Nep and Mary Ellen shared was a desire to make a difference in their community and for others. Though Mary Ellen passed away in 2018, their legacy of helping others will continue on through a $4 million gift made by Nep to establish two endowment funds at the Montana Community Foundation. The Nep and Mary Ellen Lynch Endowment Fund will provide approximately $150,000 annually to various nonprofit organizations. The Nep and Mary Ellen Lynch Trade School Scholarship will provide about $20,000 in annual scholarships to Montana students seeking training from an accredited trade school.

Organizations and students will benefit from this generosity forever.

Nep’s generosity also extends beyond Montana to support a variety of projects, scholarships, and charitable causes in Idaho. This includes a significant contribution toward the construction of The Nep and Mary Ellen Lynch Center, a much-needed community gymnasium in Salmon that opened in 2022.

When asked why he chooses to give back in this way, Nep said, “It’s simple, you can’t take it with you. Why not give it to things that matter?”

The Montana Legacy Society honors and celebrates those who have chosen to make a lasting commitment to Montana by including any fund at the Montana Community Foundation in their will or estate plan.

Through thoughtful planning, these individuals are having a permanent and meaningful impact on Montana. They are also inspiring others to make the same commitment. We are honored to work with these donors, their professional advisors, and their heirs to fulfill their philanthropic wishes.

Ginny Abbott Theresa Louise Ambuel* Charles L. and Polly Anceney* Walter and Elaine Anderson* Anonymous (7) Donald J. Baker* Jean Fallan Barrett* Laura G. Barrett* Joan K. Bennett* Alan and Janette Blackburn* Constance C. Blackwood & Larry Blackwood Franklin Davy Bland* Harry Bowers Jr.* Richard and Heather Carosone Hulda and Sam Clark* Amanda L. Coker Ellen L. Coker Cathy and Ned Cooney John S. & Elaine Cuklanz Cowan* Louise A. Dean* Bernice Wallace DeHaas* Karl I. and Margaret Deshler* Alleyne W. DeVeber* Jo Ann Eder Russel & Dorothy Erickson* Carl B. Field* Stephen M. Frankino* C.L. “Gil” Gilbertson* Lynn Ellen Gossett Jane G. Hibbard* Marie M. Hinchcliff* Joan Treacy Holter* Ripley Schemm Hugo* Barbara J. Hunter* Charles M. Jarecki & Henrietta M. Jarecki Albin H. and Evelyn B. Johnson* Michael Keith* John Markel “Mark” Kelly* George Kent* Dorothy M. Kienenberger* Curtis F. Kiniken* Louis F. Kinney* *Deceased

Bill Kitterman* Dr. and Mrs. Robert Korenberg Eveline B. and Joseph Kyle* Roland and Helen Lapee* Fr. Jeremiah Lowney* Nep and Mary Ellen* Lynch Mardele L. Maryott* Char Matejovsky Judith Matthews* Daniel N. McLean & Marcia McLean Kay McMillan* Ann Mickelson* Shirley McShane Miller* Robert Walter Moran* Norma Watson O’Laughlin* Edna C. Olson* Ursula H. Pappas Robert G. Pedersen* William B. Pratt Virginia C. Reed* Madge T. Reiland* Mary and John Rutherford Leonard “Len” Sargent* Dr. Elliott J. Schaffer, Ph.D.* Melvin “Swede” Schlesinger* John Schumacher* Meredith B. Sheane* Arne* & Steffi Siegel Jonathan A. & Camila C. Skinner Ben Smith and Lorraine Lake-Smith* Oleta “Pete” Smith* Owen Evans Sowerwine* Mabel L. Redding Staehnke* Dean and Connie Studer* Margaret Sullivan* Pamela Jo Sveinson George and Emily Vucanovich* Aldo Wolff* Dale R. Woolhiser & Nancy D. Thompson T. Eugene Young* Melody* and Richard Zajdel

35 Years of Serving Montana Through Philanthropy

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PHOTO COURTESY OF 100 STRONG BILLINGS

100 STRONG

Strengthens Billings Through a Network of Community-Minded Women and Impactful Grantmaking In 2018, 100 Strong Billings was established

by Julie Seedhouse (Broker at Century 21 Hometown Brokers) and Haley Vannatta (Commercial Real Estate Broker at NAI Business Properties). The objective of 100 Strong Billings is to harness the innovative power of local women to improve the quality of life for women and children.

In 2022, 100 Strong Billings donated $46,204 to the following organizations in the Billings community. More than $190,000 in grants have been awarded since its inception.

• YWCA Billings- to purchase a new firewall for their facilities and shelters.

• St. Vincent De Paul- to help purchase commercial refrigerators for their organization.

• Gratitude in Action (GIA)- to update their housing for those in recovery and sober living.

• MSU Billings Foundation and Alumni- to purchase life-like simulation training models for their nursing program.

18

The Montana Community Foundation

Members of 100 Strong Billings pledge to make a donation of $100 per quarter, for a total of $400 per year, which is in a fund at the Montana Community Foundation. They also started with nearly 100 members and have grown to 140 members.

100 Strong Billings meets quarterly on the second Tuesday of the month. Each quarter, members vote for a local organization to receive a gift generated from these funds.

These grants support capital and life-changing projects to local, charitable organizations that directly support and improve the lives of women and children in their community. 100 Strong Billings is led by a Vision Team of six women.

100 STRONG BILLINGS VISION TEAM Becky Bey

Julie Seedhouse

Kelli Hirsch

Haley Vannatta

Casey Miller

Jenn Weber

Laura Patterson

PHOTO COURTESY OF THE MYRNA LOY

THE MYRNA LOY

Supporting a Vibrant Art Community in Helena The Myrna Loy was established as the only rural indie film house in Montana. It was originally named Helena Presents until 1990 when Second Story Cinema board chair, Steve Browning, and U.S. Senator Max Baucus, visited actress Myrna Loy in her New York apartment. They were there to ask her permission to name a new arts center after her in Helena. Montana’s first lady of film not only graciously agreed—she bequeathed The Myrna Loy Center her name, use of her image, and her blessing.

helped initially fund the endowment.

In 1989, The Myrna Loy Center Endowment Fund, one of MCF’s oldest endowments, was established at MCF due in large part to MCF co-founder, Steve Browning. He created and

Endowment Fund, provides grants to working

1989 The Myrna Loy started an endowment at MCF. The value was $50.

Throughout the years, The Myrna Loy has continuously “inspired the creative spirits of people in and around Helena by presenting high-quality, culturally significant films and performing arts; by supporting local and regional artists in their work; and by nurturing a lifelong love of the arts through education and residencies.”

The Myrna Loy Grants to Artists, which is supported through The Myrna Loy Center artists. It is one of the few private programs in the region that gives direct funding support to individual artists.

10,200

832,280

$

$

Average annual amount The Myrna Loy has received from the fund since inception.

Endowment value as of December 31, 2022.

35 Years of Serving Montana Through Philanthropy

19

Board Members July 1, 2021 – June 30, 2022

Laura Brehm Missoula

Kelly Bruggeman Billings

Shane Doyle Bozeman

Ed Eck Missoula

Jo Ann Eder Red Lodge

Greg Hanson Philipsburg

Duane Kurokawa Wolf Point

Karen Latka Helena

Angie Main Cut Bank

Dan McLean Helena

Tom McGree Helena

Mary Ann Phipps Glendive

Sheila Rice Great Falls

Tawnya Rupe Mraz Wilsall

Jon Rutt Laurel

Cami Skinner Sidney

Leonard Smith Billings

Kenny Smoker Poplar

Dale Woolhiser Huson

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The Montana Community Foundation

Montana Community Foundation Staff

Jim Bennett Gift/Estate Planning Director

Cathy Cooney Director of Donor Services

Taylor Crowl LCF Program Officer

Elisa Fiaschetti Program Director

Kay Gray Senior Accountant

Kylie Gursky WFM Program Officer

Thad Houdeshell Grants/Scholarships Admin

Diane Hulst Senior Accountant

Daphne Kurtz Office Manager

Joanne MacIsaac Finance Associate

Sarah Morris Philanthropy Coordinator

Alison Munson Database Manager

Heather Ohs Gift/Estate Planning Director

Connie Robinson Executive Coordinator

Mary Rutherford President & CEO

Jenny Stark Scholarship Manager

Jessica Stewart-Kuntz VP of Philanthropy

Kacie Tollefson VP of Finance & Admin

Teal Whitaker Director of Communications

Kristin Williams Communications Manager

35 Years of Serving Montana Through Philanthropy

21

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.

Our pooled investment portfolio is designed with this long-term view in mind.

Emerging Markets Equity 4.9%

Developed ex-U.S. Equity 13%

Diversifying Strategies 13.2%

U.S. Equity 26.8%

130.8 Million Pooled Endowment $

Private Investments 13.5%

(As of December 31, 2022)

TIPS 4.8%

Global Equity 11.6%

22

The Montana Community Foundation

Cash 2.2%

Treasuries 10%

As of June 30, 2022

Financial Summary CONSOLIDATED STATEMENT OF

CONSOLIDATED STATEMENT OF

AS OF JUNE 30, 2022 & 2021

FOR YEARS ENDED JUNE 30, 2022 & 2021

FINANCIAL POSITION ASSETS

ACTIVITIES

2022

2021

Cash and cash equivalents

$2,007,680

$1,265,633

Contributions

Pooled investments

147,195,517

158,757,403

Community impact fees

1,941,620

2,021,496

Net investment return

944,020

1,444,593

$152,088,837

$163,489,125

Net property and equipment Other assets TOTAL ASSETS

SUPPORT AND REVENUE

2022

2021

$14,493,527

$12,304,867

486,367

419,740

(15,934,492)

31,187,158

Change in value planned gifts and PIF

(304,394)

(254,774)

Rental and other income

306,605

486,562

($952,387)

$44,143,553

TOTAL SUPPORT AND REVENUE

LIABILITIES AND NET ASSETS

2022

2021

Grants and distributions payable

$1,583,892

$1,345,990

EXPENSES

Planned gift liabilities

3,677,166

3,750,127

Long-term debt

1,471,137

Funds held as agency endowments

($952,387)

2022

2021

Total grant and philanthropic distributions

$7,080,866

$6,668,907

1,520,435

Total operating and administrative expenses

1,994,343

1,595,769

12,685,153

14,186,343

TOTAL EXPENSES

9,075,209

8,264,676

140,696

127,841

INCREASE IN NET ASSETS

(10,027,596)

35,878,877

TOTAL LIABILITIES

19,558,044

20,930,736

NET ASSETS, beginning of year

142,558,389

106,679,512

Without donor restrictions

1,450,039

1,384,919

$132,530,793

$142,558,389

Time or purpose

4,224,124

13,458,950

Unappropriated earnings

16,987,963

32,042,849

Perpetuity

109,868,667

95,671,671

Total with donor restrictions

131,080,754

141,173,470

TOTAL NET ASSETS

132,530,793

142,558,389

TOTAL LIABILITIES AND NET ASSETS

152,088,837

$163,489,125

Other liabilities

NET ASSETS, end of year

With donor restrictions

35 Years of Serving Montana Through Philanthropy

23

YOU make this magic possible.

Here’s to the next 35 Years!

PO Box 1145

Helena, MT 59624

p 406.443.8313

f 406.442.0482

e info@mtcf.org

www.mtcf.org