Montana State University Billings Foundation & Alumni

EIN: 810301477 501(c)(3) Education

Billings, MT

Total Revenue
$4,453,219
Total Expenses
$4,397,143
Total Assets
$54,369,234
Net Assets
$50,325,976
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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
MT
Principal Officer
Michael Monson
Phone
4066572244
Tax Period
2024-07-01 to 2025-06-30

Montana State University Billings Foundation & Alumni, founded in 1967, is a community nonprofit in the Education sector that reported $4.5M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. Net assets of $50.3M represent 136 months of operating reserves.

Mission

Montana State University Billings Foundation is a publicly supported, non-profit corporation founded in 1968 to advance the goals of Montana State University Billings by (1) establishing lifelong relationships(Continued on Schedule O)with university students, parents, faculty, alumni, friends and community partners; (2) creating pathways to success and sustaining them through philanthropy, stewardship and community engagement; (3) seeking and nurturing innovative partnerships to support the realization of current and emerging university priorities; and (4) fostering a culture of inclusivity that celebrates diversity on campus and beyond.

Program Service Accomplishments

Program 1
Expenses: $2,797,793

Campus Programs and Scholarships Academic program expenditures are used to support faculty scholarships and the many available academic disciplines offered at MSU Billings as well as student...

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Campus Programs and Scholarships Academic program expenditures are used to support faculty scholarships and the many available academic disciplines offered at MSU Billings as well as student scholarships that provide direct financial support for MSU Billings students. The Foundation provided funds to MSU Billings for 1,542 scholarships to students ranging in value from $250 to $8,500.Campus Projects - Activities related to capital expenditures for MSU Billings, including the planning, development, renovation, and ongoing stewardship of the University's physical and digital campus infrastructure. (Continued on Schedule O)These projects support the academic mission, enhance the student experience, promote cultural programming, and advance the long term sustainability of the campus. Current projects include, but are not limited to: - Construction of a new Sculpture and Ceramic Studio Art Building - Athletic Team Room remodels - Library remodel projects - Native American Achievement Center remodel Alumni Relations - Activities related to the MSU Billings Alumni Association are focused on fostering engagement, communication, and lifelong relationships with graduates and former students. These efforts include organizing regional alumni events and reunions to strengthen connections to the University and to one another. Alumni Relations also supports communication and outreach initiatives designed to improve alumni engagement, including social media outreach. Additional activities include student alumni networking events and recognition ceremonies that celebrate alumni achievements and contributions.

Program 2
Expenses: $458,682 Revenue: $155,145

Campus and Community Outreach - Activities related to the Foundation's public relations efforts to promote MSU Billings throughout the greater community.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,606,376
Program Service Revenue $155,145
Investment Income $296,250
Other Revenue $395,448
TOTAL REVENUE $4,453,219

Expense Breakdown

Grants Paid $2,739,809
Salaries & Benefits $868,892
Fundraising Expenses $492,013
Program Expenses $3,256,475
Other Expenses $788,442
TOTAL EXPENSES $4,397,143

Year-over-Year Comparison

2024 2023 Change
Revenue $4,453,219 $7,916,912 -0.4%
Expenses $4,397,143 $4,128,439 +0.1%
Net Income $56,076 $3,788,473 -1.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
14
Volunteers
238

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$257,376
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Thomas Potter Chair 2.00
Officer Director
$0 $0 $0
Mike Monson Vice Chair 1.00
Officer Director
$0 $0 $0
Ken Lutton Treasurer 1.00
Officer Director
$0 $0 $0
Brittany Cremer Secretary 1.00
Officer Director
$0 $0 $0
Tyler Elkin Trustee 0.50
Director
$0 $0 $0
Kay Berry Trustee 0.50
Director
$0 $0 $0
Buddy Windy Boy Trustee 0.50
Director
$0 $0 $0
David Wanzenried Trustee 0.50
Director
$0 $0 $0
Karen Moses Trustee 0.50
Director
$0 $0 $0
Becky Anderson Trustee 0.50
Director
$0 $0 $0
William Henry Trustee 0.50
Director
$0 $0 $0
Donald L Roberts Trustee 0.50
Director
$0 $0 $0
Janiel Begger Trustee 0.50
Director
$0 $0 $0
Krista Montague President/CEO 40.00
Officer
$130,340 $16,756 $147,096
Jeff Clarke CFO 40.00
Officer
$87,180 $23,100 $110,280
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $4,453,219 $4,397,143 $54,369,234 $56,076
2024 $7,916,912 $4,128,439 $47,725,720 $3,788,473
2023 $3,098,473 $3,361,935 $40,792,683 $-263,462
2022 $3,844,077 $3,880,181 $38,846,778 $-36,104
2021 $13,750,019 $7,761,827 $43,347,395 $5,988,192
2020 $5,849,718 $5,090,309 $38,986,672 $759,409
2019 $5,714,823 $3,543,191 $38,294,283 $2,171,632
2018 $5,842,807 $3,800,934 $36,001,238 $2,041,873
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