Overview
What is Billings Community Foundation?
The Billings Community Foundation, situated in Billings, Montana, serves as a platform for managing charitable assets, offering diverse giving tools like donor-advised funds, permanent endowments, charitable gift annuities, charitable remainder trusts, and charitable lead trusts. These tools enable the foundation to grant funds to various nonprofit organizations within the Billings community and the Yellowstone Valley region. By doing so, the Billings Community Foundation empowers both donors and charitable organizations to address the area's needs effectively, boasting over 50 funds dedicated to charitable causes. Their primary mission is to enhance the capacity of these organizations to meet the community's demands, ultimately improving the lives of its residents.
Official website here: www.billingscommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator rates the Billings Community Foundation with a score of 82%, resulting in a Three-Star out of Four Star rating. This score reflects a solid performance in both accountability and culture, with particularly high marks for program expenses and asset management. The organization demonstrates a commitment to transparency and ethical governance, evidenced by its independent board and various listed policies.
User feedback emphasizes the foundation's positive impact on Eastern Montana, particularly in supporting local nonprofits through grants and fundraising efforts. Board members express a strong dedication to community service and highlight the organization's role in addressing local challenges, such as poverty. This engagement showcases the foundation's effectiveness in fostering community resilience and resource management.
While the foundation has notable strengths, the reviews do not mention any specific limitations or challenges faced by the organization. The high program expense ratio indicates a focus on direct support to nonprofits, which is a positive aspect in evaluating its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Billings Community Foundation legitimate?
Billings Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Billings Community Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $64,999
Professional Fundraising Fees: $0
Other Salaries and Wages: $69,375
For more financial information, click here
Official website here: www.billingscommunityfoundation.org
What is the mission statement of Billings Community Foundation?
The Billings Community Foundation's mission is to enhance the capacity of both donors and charitable organizations to address the needs of their community. This is achieved by managing endowment funds for 501(c)(3) organizations in the region. The foundation administers charitable assets through various giving tools, such as donor-advised funds and charitable trusts, to make grants to various nonprofits. The objective is to strengthen the community's ability to meet its needs in compliance with Montana's Uniform Prudent Management of Institutional Funds Act.
Official website here: www.billingscommunityfoundation.org
Who is the CEO of Billings Community Foundation?
Lisa Olmsted is the Secretary of Billings Community Foundation.
Official website here: www.billingscommunityfoundation.org
What is the revenue of Billings Community Foundation?
Billings Community Foundation's revenue in 2022 was $1,876,209.
Official website here: www.billingscommunityfoundation.org
Who are the executives of Billings Community Foundation and what are their salaries?
The average compensation at Billings Community Foundation during 2022 was $67,187. There are 2 employees and 35 volunteers at Billings Community Foundation.
Here are 12 key members and their salaries:
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- Compensation: $76,737
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Official website here: www.billingscommunityfoundation.org
Where can I find the form 990 for Billings Community Foundation?
Billings Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.billingscommunityfoundation.org
Learn more at the official website: www.billingscommunityfoundation.org
Mission Statement of Billings Community Foundation
The Billings Community Foundation, a nonprofit organization, is dedicated to enhancing the capacity of both donors and charitable organizations to meet the needs of their community. By managing endowment funds for 501(c)(3) organizations within the Greater Billings, MT area, the foundation serves as a bridge between philanthropic individuals and local charities. Its mission is to strengthen the ability of these organizations to address the various challenges and requirements of the community, thereby contributing to a more prosperous and well-supported region.
The Billings Community Foundation plays an essential role in facilitating charitable giving by administering the receipt of charitable assets through various tools. These tools include donor-advised funds, permanent endowments, charitable gift annuities, charitable remainder trusts, and charitable lead trusts. By leveraging these resources, the foundation enables donors to make grants to a wide array of nonprofits, ensuring that their charitable contributions are distributed in a prudent and efficient manner. In compliance with the Uniform Prudent Management of Institutional Funds Act of Montana, the foundation ensures that distributions are made in a manner that maximizes the long-term impact of the funds while also meeting the immediate needs of the community.
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Impact
October, 2024
The Billings Community Foundation significantly enhances the capacity of donors and charitable organizations to address the needs of the greater Billings community and the Yellowstone Valley region. By managing over 50 endowment funds, it facilitates effective charitable giving that supports a wide range of local initiatives.
Through its comprehensive grantmaking processes, the foundation administrates the receipt of charitable assets using various innovative tools such as donor advised funds, permanent endowments, and charitable remainder trusts. This diversity allows for flexibility and responsiveness to community needs.
The impact of the foundation is evident in its ability to make meaningful distributions that comply with the Uniform Prudent Management of Institutional Funds Act of Montana, ensuring responsible management of these financial resources. By empowering individuals and organizations to contribute efficiently, the Billings Community Foundation plays a pivotal role in fostering philanthropy and enhancing the well-being of the community it serves.
This information is meant to be a general summary of Billings Community Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $371,921
- Program Service Revenue: $5,134
- Gross Receipts: $1,878,670
Assets and Liabilities:
- Total Assets: $7,484,223
- Total Liabilities: $652,995
- Net Assets: $6,831,228
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REGISTRATION REVENUE
Revenue
$5,134
Organization Details
Founding Year
2006
Phone
(406) 839-3334Principal Officer
Lisa Olmsted
Main Address
404 N 30TH ST, BILLINGS, MT, 59101
NTEE Category
Code: T31 - Philanthropy
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