WHY As we approach the 100th birthday of Montana State University Billings, it is essential that while we look forward and get ready to celebrate the next 100 years of Billings’ Public University, we also must look back and cherish its history. From 1928 until 1972, the “Rimrock” chronicled life on (at that time) Eastern Montana College’s campus, and now it will once again tell the campus’s story. Instead, now it will tell the story to the larger Billings Community and Yellowjacket Nation everywhere.
(L-R) Krista Montague, Michael Monson, Stefani Hicswa, PhD
A Message from Our Leadership At the MSUB Foundation, our mission is rooted in strengthening and advancing MSU Billings through philanthropy, stewardship, and meaningful engagement. And this past year, your support has made an extraordinary difference. As we reflect on the last year, we are incredibly proud of what we have achieved together. Your contributions have fueled meaningful progress, many of which you will see highlighted in this report, and they reflect the powerful impact of a community that believes deeply in students and their futures. There is so much to celebrate. In the 2025 fiscal year, the MSUB Foundation & Alumni increased giving by 45%, directly benefiting students and strengthening the university. With your support, we awarded over 1,100 scholarships, including 459 Yellowjacket Excellence Scholarships, providing vital financial assistance that helps students stay enrolled, persist, and complete their degrees. Recent enrollment data show Fall 2025 enrollment is 4,145 students, up from last fall and the highest since 2019, and we are proud that scholarship support continues to play a meaningful role in improving retention. We’re also pleased to share that our endowment assets reached $54.4 million (an increase of 14% from the previous year), positioning us to make an even greater long-term impact. These achievements are a testament to your belief in MSUB’s mission and your commitment to strengthening the student experience. Your generosity, volunteerism, and personal connection to this university empower us to invest in people, programs, and opportunities that change lives. On behalf of all of us and the many students whose paths have been shaped by your support, thank you. Your involvement is helping build a brighter future for our community, our state, and our region. Thank you for being such an essential part of this remarkable journey.
Krista Montague CEO, MSU Billings Foundation & Alumni
Michael Monson Chair, MSU Billings Foundation & Alumni Board of Directors
Stefani Hicswa, PhD Chancellor, Montana State University Billings
Table of Contents 2 Ways to Give 3 Giving Priorities / Strategic Priorities 4 Individuals who have given for 30 or more years consecutively 5 Organizations who have given for 30 or more years consecutively 6 Wine & Food Festival 8 Yellowjacket Athletics 10 2025 Outstanding Alumni Awards 11 Alumni Gatherings / Jacket Connect 12 Leave a Legacy; Invest in the Future 13 Endowments 14 Reimagined Giving Societies 15 Financials 16 MSUB Foundation & Alumni Board of Directors and Staff 17 MSUB Quick Facts
Mission
Philanthropic Donor Rights
Support and grow MSUB through philanthropy, stewardship, and engagement.
Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is essential to the quality of life. To ensure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the nonprofit organization and causes they are asked to support, we declare that all donors have these rights:
Vision Champion higher education for a better tomorrow.
1. To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
Core Values
2. To be informed of the identity of those serving on the organization’s governing board, and to expect the board to exercise prudent judgement in its stewardship responsibilities.
• Excellence: We strengthen MSUB’s pursuit of excellence, attained through high standards, continuous improvement and surpassed expectations. • Integrity: We are guided by making honorable decisions with sincerity, transparency, and fairness. • Pride: We foster a sense of belonging and community. • Trust: We act in a consistent, responsible, and ethical manner. • Hope: We instill a belief in the potential for positive change.
3. To have access to the organization’s most recent financial statements. 4. To be assured gifts will be used for the purposes for which they are given. 5. To receive appropriate acknowledgement and recognition. 6. To be assured that information about their donations are handled with respect and confidentiality to the extent provided by the law. 7. To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature. 8. To be informed whether those seeking donations are volunteers, employees of the organization, or hired solicitors. 9. To have the opportunity for their names to be deleted from the mailing lists and organization may intend to share. 10. To feel free to ask questions when making a donation and to receive prompt, truthful, and forthright answers.
• Inclusion: We create an inclusive environment ensuring that each individual feels valued, respected and empowered.
Students connecting with Curt Kochner and Susan Thomas at the Annual Celebration of Scholarship. 1
Ways to Give 1. Outright Gifts Make an immediate difference through direct giving. • One-time Gift – A simple and powerful form of support. • Pledged Gift (up to 5 years) – Spread your giving over time with flexible payment options. • Recurring Gift – Set up a monthly or quarterly donation for ongoing support. 2. Appreciated Securities Give from your investments and receive tax advantages. • Stock – Transfer publicly traded stocks and avoid capital gains tax. • Real Estate – Donate property and make a lasting difference. • Personal Property – Art, collectibles, or other valuable assets may also qualify. 3. IRA Charitable Distribution (QCD) If you are 70½ or older, you can make a tax-free gift directly from your IRA. This is an efficient form of support while meeting your required minimum distribution. 4. Donor-Advised Fund (DAF) Recommend a gift through your DAF for immediate or future impact. It’s an easy way to support MSUB with funds you’ve already set aside for charitable giving. 5. Gift Annuities Create a meaningful legacy while receiving fixed income payments for life. Deferred and Charitable Gift Annuities allow you to make a charitable gift now, receive a tax deduction, and begin receiving income at a future date. After your lifetime, the remaining funds support MSUB Foundation & Alumni. 6. Legacy Gifts Include MSUB Foundation & Alumni in your estate plans to support future generations. Legacy gifts are flexible and often cost nothing today. You can designate MSUB as a beneficiary of your: • Will or Living Trust • IRA or Retirement Account • Life Insurance Policy • Donor-Advised Fund (DAF) • Charitable Trust or other arrangement Planned gifts may also qualify you for membership in the Beardsley Society. 7. Endowments Create a lasting legacy by contributing to an existing endowed fund or establishing a new one. Endowments provide long-term support for MSUB. 8. Scholarships Support students directly by contributing to an existing scholarship or establishing a named scholarship that reflects your values and passions. 9. Memorial or Honorary Gifts Make a gift in memory or in honor of someone meaningful. These special gifts support MSUB students while celebrating a personal legacy. 10. Employer Matching Gifts Make your gift go further. Many employers offer matching gift programs that can double or triple your impact. Note: The matching portion from your employer may not count toward your individual recognition. 2
Giving Priorities
Strategic Priorities (2023-2027)
• Yellowjacket Excellence Scholarship supports first-time freshmen based upon their high school academic performance. • Finish Line Scholarship helps students overcome financial barriers as they approach the completion of their education.
1. Double Giving by 2027 • Motivate supporters to sustain their contributions, implement strategies to attract and engage new donors, and encourage a cycle of ongoing and heightened giving through pride in being a part of championing MSUB. 2.Demonstrate exceptional stewardship of donor contributions and intentions. • Be transparent and genuine in our interactions, communications, and expressions of gratitude, fostering trust and meaningful connections with supporters.
• General Athletic Scholarship supports student-athletes in pursuing their dream of a college education.
3.Collaborate with MSUB to build excitement and Hope for the potential of positive change. • Strengthen the culture of philanthropy among the MSUB community, volunteers, alumni, partners, and supporters around the globe.
• Greatest Needs support the university’s greatest needs, ensuring that we can maintain and elevate our commitment to academic excellence and students’ success.
4. Foster the values of Excellence and Inclusion that empower the MSUB Foundation Team to exemplify Integrity, Pride, Trust & Hope. • Communicate the meaning and purpose of the team’s work; encourage their innovation; ensure they have all the resources to be efficient and effective; and celebrate their successes.
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Individuals who have given for 30 or more years consecutively LeAnn Anderson Daniel & Kay ’83 Berry Bill Brown & Amy Gibler Brown ’82 Tom ’68 & Norma ’69 Brown John & Claudia Decker Jon ’89 & DeeAnn Egeland N.J. Marc ’77, ’83 & Carla Gomez ’76 Dona ’66 & Paul Hagen Joseph Howell, PhD Kermit and Barbara Hummel William F. Kamowski Karen Hummel Kinsley & Dan Kinsley Gareld Krieg David J. Krueger ’70 Jeanette M. Longman ’80 Mitch Marks ’84 & Mel Holm Wayne ’02 & Jeanne ’84 Moller Kathleen Rebich Munson ’75, ’82 Dan Roadhouse ’73 Cynthia L. Rogers ’88 Beverly T. Ross ’91 Michael & Cara Schaer
Your Impact $1.8M+
Deborah Schaffer, PhD Rachel Schaffer, PhD Joanne Sheridan ’76 & Michael Campbell
Scholarship Dollars Awarded
David ’72 & Roxanne Spildie ’80 Warne Linda Rogers Wiedeman ’71
2,892
We strive to ensure the accuracy of this list and apologize for any errors or omissions. If you notice something that needs updating, please contact us at 406-657-2244.
Total Gifts
4
Organizations who have given for 30 or more years consecutively
$5,691,033
968
Total Cash Received
New Donors
$1,007,684
$5
Smallest Donation
Largest Donation 5
2025 Festival As Co-Chairs of this year’s Wine & Food Festival, we couldn’t be more proud of what our community accomplished together. This event has always been about coming together to support MSUB students, and this year was no exception. From the incredible culinary talent to the energy in the room each night, the festival truly showcased the best of Billings. Thanks to your generosity, we welcomed record-breaking crowds and achieved a record fundraising year raising more than $730,000 to support MSUB students. We are deeply grateful to every donor, sponsor, and volunteer who made this milestone possible. Your commitment makes a real difference, and we hope to see you at the 2026 Wine & Food Festival.
Julie Seedhouse ’89 & Jeremy Vannatta ’99, Co-Chairs
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Over
$730,000 donated in support of MSUB students
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Yellowjacket Athletics by the Numbers 246
Student Athletes
3.30
Cumulative Student Athlete GPA / 36 Student Athletes with 4.0
40
Graduating Student Athletes
9
All-Region Selections
41
All-Conference Selections
3
Orraya Tipasathien
Yellowjacket Athlete Honors Freshman of the Year: Sam Coxen (Baseball) Newcomer of the Year: Wynter Hurst (Softball) Freshman of the Year: Ella Tannenberger (Women’s Golf) GNAC Coach of the Year: Derek Waddoups (Baseball) All-American Selection: Dyauni Boyce (Women’s Basketball)
NCAA Tournament Selections
2,966
Community Service Hours Performed
Interested in getting involved in supporting a team or the department? Contact Nick Schmidt, Director of Annual Giving & Athletic Advancement, at 406.657.2253 or nick.schmidt@msubfoundation.com
MSUB Women’s Basketball alumni gather to celebrate 50 years of the program. 8
$370,038 Raised in Philanthropic Support of Yellowjacket Athletics
957
Athletic Donors
Newest Endowment
Dave & Renee Coppock Track & Field / Cross Country Endowed Scholarship
50 Years
of Yellowjacket Women’s Basketball Celebrated 9
Outstanding Alumni Awards
The Montana State University Billings Foundation & Alumni honored seven graduates with the 2025 Outstanding Alumni Awards. These distinguished alumni have demonstrated exceptional achievements in their professions, contributed to their communities, and advanced MSU Billings through their ongoing support and dedication. The honorees were recognized at the annual Outstanding Alumni Awards on Saturday, September 27, at the MSU Billings campus. Presented by
Read more about this year’s winners!
Cynthia Jessee Class of ’78 & ’91 Alumni Merit Medallion
Ron O’Donnell Class of ’89 Recognition for Exceptional Achievement
Marcy Mutch Class of ’82 Recognition for Exceptional Achievement
Florence Garcia Class of ’74 & ’80 Ronald P. Sexton Award for Professional Commitment
Jaren Fritz Class of ’24 Rising Star Award
Jim Heins & Joe Heins Friends of MSUB
MSUB Alumni Advisory Committee Members Sarah Gunn ’17, Chair Caitlin Harvey ’18 Sean Phelps ’87 & ’01 Alisha Breen ’18
Scan to see the Alumni Owned Business Directory and fill out the form to be highlighted.
Mary McClarty ’85 Cody McCraken ’18 Sarah Schroefel ’18 Halle Keltner ’19 10
Alumni Gatherings We hit the road with alumni gatherings in Helena and Great Falls, where we had the chance to reconnect, share memories, and hear incredible stories from our Yellowjacket alumni. Stay tuned! More events are coming soon to other communities across Montana!
Helena
Introducing Jackets Connect :
Strengthening the Yellowjacket Network We’re excited to introduce Jackets Connect; MSU Billings’ official alumni platform created just for our Yellowjacket community. This vibrant online hub makes it easier than ever to reconnect with classmates, grow your professional network, and stay connected to the people, opportunities, and stories that make MSUB truly special.
Reconnect
Business Directory
Mentor
Great Falls
Job Boards
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Private Groups
Events
Join Jackets Connect Today!
Leave a Legacy; Invest in the Future One Gift. A Lifetime Popular Planned Giving Options of Impact. Bequests (Will or Trust): IRA & Retirement Planned giving is a meaningful way to support MSU Billings while meeting your financial, tax, or estate planning goals. Whether you’re seeking income, tax savings, or a lasting legacy—we’re here to help you find the right fit.
Why Consider a Planned Gift? With a planned gift, you can: • Create a legacy that supports students for generations to come • Receive income for life through certain gift arrangements • Reduce income, capital gains, and estate taxes • Make a significant gift without impacting your current finances • Support a cause you care about deeply on your terms and timeline
Include MSUB Foundation & Alumni in your will or trust, simple, flexible, and impactful.
Gift Annuities:
Receive fixed payments for life, with the remainder supporting MSUB after your lifetime.
Charitable Trusts:
Structure a gift that provides income to you or others, while supporting MSUB’s future.
Accounts:
Name MSUB as a beneficiary of your IRA or 401(k) to support students with a tax-efficient gift.
Life Insurance:
Name MSUB Foundation & Alumni as a beneficiary or donate a paid-up policy.
Appreciated Assets:
Donate real estate or valuable property and potentially reduce capital gains taxes.
Montana Charitable Endowment Tax Credit By giving through a qualified planned gift to an endowment at MSUB Foundation & Alumni, you may be eligible for a Montana state income tax credit—up to $15,000 per individual, $30,000 per couple, or $15,000 per business. This powerful incentive not only supports your generosity but also helps advance MSUB’s future.
Your Legacy. MSUB’s Future. Let’s work together to create a lasting impact that reflects your generosity and values. To explore giving options, contact Kelly Schrock, Director of Principal Giving. I’m here to answer your questions and help find the right plan for you. O: 406-657-1625 | M: 406-850-9939 | kelly.schrock@msubfoundation.com
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Endowments of $200,000 and Above: Fueling Student Success The endowments listed here, each exceeding $200,000, are vital to transforming lives at MSUB. These contributions are strategically invested to generate income, supporting immediate needs while ensuring their growth and sustainability. Together, just these 39 endowments make it possible to provide over $850,000 in annual support – empowering students to achieve their dreams and build a brighter future for our community. These are just a portion of the many endowments that contribute to the ongoing success of our students and the university. As of June 30, 2025
• Darell & Robin Tunnicliff Scholarship Endowment............................. $2,364,708 • Jeannette Winter Tilley Library Excellence Endowment.................... $2,213,785 • Judith Covert & Sam E. McDonald, Jr. Family College of Business Excellence Endowment...................................... $1,982,626 • Jack & Isabel Haynes Scholarship Endowment.................................. $1,859,003 • Chancellor’s Excellence Award Scholarship Endowment................... $1,718,502 • Abrahamson Family Scholarship Endowment.................................... $1,298,334 • H.A. Leffler College of Business Scholarship Endowment.................. $1,065,185 • Ellen Shields Scholarship Endowment................................................... $987,686 • Charles Beardsley Undergraduate Scholarship Endowment................ $960,648 • College of Business Faculty Excellence Endowment............................. $942,855 • Opportunity Scholarship Endowment................................................... $896,231 • John F. & Winifred M. Griffith Scholarship Endowment....................... $713,760 • Briggs Distributing and John & Claudia Decker Scholarship Endowment........................................................................ $588,404 • Faculty Research & Professional Development Endowment................ $533,721 • Collegiate License Plate Scholarship Endowment................................. $489,461 • Jarussi Sisters Scholarship Endowment................................................. $433,099 • Connie Landis Memorial Scholarship Endowment............................... $427,365 • Gail L. Maryott Scholarship Endowment............................................... $373,045 • Matz Properties Scholarship Endowment............................................. $354,724 • John Self Rehabilitation Counseling Scholarship Endowment.............. $343,013 • MSUB Foundation Operating Endowment............................................ $342,548 • John Weinschrott Memorial Scholarship Endowment.......................... $334,021 • Computers Unlimited Wine & Food Festival Operating Endowment.......................................................................... $327,249 • Spildie/Warne Family Scholarship Endowment.................................... $316,153 • Jane F. Vaughan Scholarship Endowment............................................. $274,645 • MSU Billings Recognition Scholarship Endowment.............................. $270,266 • Dr. Norm Schoenthal Scholarship Endowment..................................... $269,356 • Catherine Jane Schwidde Memorial Scholarship Endowment............. $265,902 • Frederick J. Urbaska Baseball Scholarship Endowment........................ $262,983 • Paul & Patti Gunville Athletic Scholarship Endowment........................ $246,358 • Mike Ross Scholarship Endowment....................................................... $236,531 • Jim & Miriam Pickens Biology Endowment........................................... $235,796 • MSUB City College Opportunity Scholarship Endowment.................... $235,704 • Husted Scholarship Endowment........................................................... $231,260 • Walter & Charlotte Pippenger Excellence Award Endowment............. $228,876 • Walter & Elaine Anderson Scholarship Endowment............................. $225,989 • Stockman Bank Opportunity Scholarship Endowment......................... $223,226 • Wine & Food Festival Scholarship Endowment.................................... $213,696 • Nan & Ben Friesen Scholarship Endowment......................................... $208,784 We strive to ensure the accuracy of this list and apologize for any errors or omissions. If you notice something that needs updating, please contact us at 406-657-2244.
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MSUB Foundation & Alumni Reimagines Giving Societies The MSUB Foundation & Alumni is proud to celebrate philanthropy through giving societies.
Chancellor’s Circle We invite you to join the Chancellor’s Circle, a community of more than 360 generous supporters. Membership is based on total giving of $1,000 or more during our fiscal year (July–June). From last year’s inaugural class, 60% of members renewed their support, and 172 new members were welcomed. As a member, you can direct your gift to the areas most important to you: a college, department, scholarship fund, program, or MSUB’s Greatest Needs. Your contribution will make a significant difference. Stay tuned for next year’s celebration date; we look forward to gathering again.
1927 Society Founded in 1927, the Eastern Montana Normal School in Billings has grown into MSUB through nearly a century of dedication and progress. While we introduced the 1927 Society last year, we are excited to formally kick it off this year with a special celebration in June. Date and time to be announced, so stay tuned. The 1927 Society honors donors who have generously given a cumulative $25,000 or more over their lifetime. Its members are catalysts for change, empowering our students and providing lasting resources for a brighter future in Montana and beyond.
Beardsley Society The Beardsley Society honors supporters who include the MSUB in their future plans. By making a planned gift, you create a lasting legacy that supports generations of students. Membership begins when you notify us that you’ve named MSUB Foundation as a beneficiary through a bequest, trust, annuity, IRA, or life insurance. As a member, you’ll join a visionary group committed to ensuring future resources. 14
Who is Giving? 6.2%
Corporate
17.3%
MSUB Personnel
Financials
STATEMENT OF FINANCIAL POSITION For years ended June 30, 2025 and 2024 ASSETS: Cash and cash equivalents Promises to give, net Accrued investment income Investments Beneficial interest in trusts held by others Other Property and equipment, net
2025 Total
2024 Total
$193,647 762,076 18,761 50,094,910 2,382,615 157,075 760,150
$1,282,819 1,945,779 33,846 42,707,232 2,581,795 104,297 747,677
$54,369,234
$49,403,445
$567,634 0 941,078 2,534,546
$440,573 0 1,015,609 2,357,993
$4,043,258
$3,814,175
Net Assets: Net assets without donor restrictions Undesignated Board designated
$3,373,239 2,958,970
$2,996,518 2,936,163
6,332,209
5,932,681
Assets with donor restrictions
43,993,767
39,656,589
Total Assets LIABILITIES: Accounts payable Line of Credit Student scholarships payable Assets held in trust
22.2%
54.3%
Alumni
Family/Friends
How Program Dollars Were Spent in 2024-2025 5.5%
Alumni Relations
61.9%
Student Scholarships
7.0%
Campus Projects
Total Liabilities
Total Net Assets
$50,325,976
$45,589,270
Total Liabilities and Net Assets
$54,369,234
$49,403,445
PUBLIC SUPPORT AND REVENUE: Contributions and Grants In-kind contributions University Contract Net Investment Income Rental revenue - net of rental expenses Other revenues
2025 Total
2024 Total
$3,188,620 65,764 125,000 4,337,714 484,674 798,108
$5,002,104 191,217 125,000 4,212,930 575,423 493,968
Total Public Support and Revenue:
8,999,880
10,600,642
$2,020,288 375,521 228,501 458,682 178,808
$1,897,322 460,314 230,097 441,382 176,426
$3,261,800
$3,205,541
$509,361 492,013
$397,677 411,656
STATEMENT OF ACTIVITIES For the years ended June 30, 2025 and 2024
PROGRAMS AND EXPENSES Programs: Student scholarships Academic programs Campus projects Campus and community outreach Alumni relations
11.5%
Academic Programs
14.1%
Campus and Community Outreach
Total Programs Expenses: General and administrative Fundraising and development Total Expenses
$1,001,374
$809,333
Total programs and expenses
$4,263,174
$4,014,874
Change in Net Assets
$4,736,706
$6,585,768
Net Assets at Beginning of Year
$45,589,270
$39,003,502
Net Assets at End of Year
$50,325,976
$45,589,270
Financial Information is a summary of the auditors report provided by Eide Bailley, CPA’s
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MSUB Foundation & Alumni 2025-2026 Board of Directors
Michael Monson Chair Class of ’03
William Henry Vice Chair
Ken Lutton Treasurer Class of ’06
Brittany Cremer Secretary Class of ’06
Lee Boyles
Tyler Elkin Class of ’95
Cindy Millard Class of ’87 & ’91
Anne Cole
Buddy Windy Boy Class of ’06
Janiel Begger Class of ’15 & ’17
Becky Anderson Class of ’02
Karen Moses
Stefani Hicswa, PhD Ex Officio
Jessie Perius, PhD Ex Officio Class of ’12
Jodi Lightner Ex Officio
Krista Montague Ex Officio Class of ’99 & ’18
MSUB Foundation & Alumni Staff
Krista Montague CEO Class of ’99 & ’18
Jodi Byrne Advancement Coordinator
Nick Schmidt Director of Annual Giving & Athletic Advancement
Jeff Clarke CFO
Luca Battistotti Director of Marketing and Alumni Relations Class of ’21 & ’23
Drew Chenault Accountant
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Kelly Schrock Director of Principal Giving
Lisa McKinney Special Events & Stewardship Coordinator Class of ’13
Georganna Glen Database Management Specialist
MSUB Quick Facts When you give, this is who you are impacting:
Enrollment
4,145 Total Enrollment
3,807 MSUB Students are from Montana
2,692 MSUB Students are from Yellowstone County, with 1,093 from other Montana Counties
291
MSUB Students are from Outof-State, with the Most from Wyoming
47
MSUB Students are International Students, Representing 27 Countries – with the Most from India
41.9% Of MSUB Students are 1st Generation College Students
Programs With Highest Enrollment
138
University Campus: Psychology
221 City College: Nursing
Thank you for being a part of the Yellowjacket family Each year, hundreds of Yellowjackets embark on new journeys after earning their degrees from MSUB. Your generous contributions help these students focus on their studies, reducing the financial pressures that come with pursuing higher education. Because of your support, future leaders are being equipped to shape a brighter tomorrow. As alumni and supporters like you make an impact across the globe, some may lose touch with MSUB. If you or someone you know is a graduate, past volunteer, retired faculty, or friend of the University, we invite you to reconnect with the MSUB Foundation. Visit msubfoundation.com/connect-with-us to stay updated or to update your contact information.
1500 University Drive | Billings, MT 59101 406.657.2244 | msubfoundation.com