HEADWATERS ECONOMICS INC

BOZEMAN, MT, 59771 (406) 599-7425 Est. 2006 EIN 74-3171967
C34 - Land Resources Conservation 990 - Public charity return 501(c)(3)
headwaterseconomics.org

Mission

HEADWATERS ECONOMICS, INC. IS AN INDEPENDENT, NONPROFIT RESEARCH GROUP. OUR MISSION IS TO IMPROVE COMMUNITY DEVELOPMENT AND LAND MANAGEMENT DECISIONS.

Giving Portfolio

Total Grants
5
Total Giving
$160K
Recipients
5
Years Active
2021 - 2025
Avg grant: $28,333 Median: $25,000

Yearly Trends

YearGrantsTotal Giving Avg GrantNewRepeat
20251$10K $10K10
20222$50K $25K20
20212$100K $50K20

Top States

Montana
3
California
1
North Dakota
1

Top Grantees

City of Williston ND
ND
$50K
Dawson County MT
MT
$50K
Missoula County
MT
$25K
Woodside Fire Protection Dist
CA
$25K
city of miles city
MT
$10K

Grants Awarded · 1 grants

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Financials

Total Revenue
$3,143,592
Total Expenses
$3,075,096
Net Assets
$4,003,639
15 employees
From latest filing (tax period ending 2025-12-31)

Financial Health

Operating Reserve
15.6 months Healthy
Net assets / monthly expenses
Year-over-Year Change
Revenue ↓ 35.8%
Expenses ↓ 18.1%
Revenue Sources
Contributions 89.7% Earned revenue 7.8% Investment 2.1%
Expense Breakdown
Program 90.5% Management 9.0% Fundraising 0.5%

Officers & Trustees (14)

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Filing History (7 filings)

YearRevenueExpensesNet Assets
2025 990 - Public charity return
Jan 1, 2025 to Dec 31, 2025
$3,143,592 ↓$3,075,096$4,003,639
2024 990 - Public charity return
Jan 1, 2024 to Dec 31, 2024
$4,899,075 ↑$3,755,526$3,935,143
2023 990 - Public charity return
Jan 1, 2023 to Dec 31, 2023
$3,166,391 ↑$2,852,439$2,791,594
2022 990 - Public charity return
Jan 1, 2022 to Dec 31, 2022
$2,599,465 ↓$2,872,944$2,477,642
2021 990 - Public charity return
Jan 1, 2021 to Dec 31, 2021
$3,423,228 ↑$2,381,010$2,751,121
2020 990 - Public charity return
Jan 1, 2020 to Dec 31, 2020
$2,461,809 ↑$2,439,811$1,708,903
2018 990 - Public charity return
Jan 1, 2018 to Dec 31, 2018
$2,414,936 $2,463,825$1,407,095

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EIN: 74-3171967 · Source: IRS Form 990 e-file data