Civic Intelligence

Bitter Root Land Trust Inc.

990 • Fiscal year 2023 • EIN 31-1595967

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

PO Box 1806Hamilton, MT 59840

(406) 375-0956

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.40x

Higher debt load relative to revenue than 77% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$125,529

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

61st percentile

8.9%

Faster asset growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

20th percentile

-16%

Faster revenue growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$3,331,407

Up $273,147 (+8.9%) from 2022

Net Assets

Up

$2,815,691

Up $248,464 (+9.7%) from 2022

Liabilities

Up

$515,716

Up $24,683 (+5.0%) from 2022

Revenue

Down

$1,290,788

Down $242,474 (-16%) from 2022

Expenses

Up

$1,138,457

Up $99,340 (+9.6%) from 2022

Net Income

Down

$152,331

Down $341,814 (-69%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $1,069,038Liabilities 2017: $11,518Net Assets 2017: $1,057,5202017Assets 2018: $1,599,202Liabilities 2018: $484,787Net Assets 2018: $1,114,4152018Assets 2021: $2,204,388Liabilities 2021: $15,304Net Assets 2021: $2,189,0842021Assets 2022: $3,058,260Liabilities 2022: $491,033Net Assets 2022: $2,567,2272022Assets 2023: $3,331,407Liabilities 2023: $515,716Net Assets 2023: $2,815,6912023Assets 2024: $3,688,772Liabilities 2024: $511,485Net Assets 2024: $3,177,2872024

Highlighted filing

2023

Assets$3,331,407
Liabilities$515,716
Net Assets$2,815,691

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2017: $885,512Expenses 2017: $436,522Net Income 2017: $448,9902017Revenue 2018: $620,082Expenses 2018: $537,536Net Income 2018: $82,5462018Revenue 2021: $1,321,915Expenses 2021: $726,488Net Income 2021: $595,4272021Revenue 2022: $1,533,262Expenses 2022: $1,039,117Net Income 2022: $494,1452022Revenue 2023: $1,290,788Expenses 2023: $1,138,457Net Income 2023: $152,3312023Revenue 2024: $1,389,064Expenses 2024: $1,218,170Net Income 2024: $170,8942024

Highlighted filing

2023

Revenue$1,290,788
Expenses$1,138,457
Net Income$152,331
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$1,308,745
Mission and Program Overview

Mission

BRLT PARTNERS WITH LANDOWNERS AND COMMUNITY GROUPS TO CONSERVE the WATER, WILDLIFE, AND WORKING FARMS AND RANCHES IN MONTANA'S BITTERROOT VALLEY FOR all GENERATIONS, utilizing conservation easements, fee purchases, and proactive land stewardship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,370,504$1,149,899▼ $220,605
Cash and Non-Interest-Bearing Accounts$461,667$911,924▲ $450,257
Land, Buildings, and Equipment, Net$627,556$625,976▼ $1,580
Savings and Temporary Cash Investments$489,975$530,480▲ $40,505
Prepaid Expenses and Deferred Charges$15,758$0▼ $15,758
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,058,260$3,331,407▲ $273,147
Other Assets Total$92,800$113,128▲ $20,328
Liabilities
Mortgage Notes Payable Secured by Investment Property$483,290$471,565▼ $11,725
Accounts Payable and Accrued Expenses$7,743$32,674▲ $24,931
Other Liabilities-$11,477-
Total Liabilities$491,033$515,716▲ $24,683
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,496,016$2,782,018▲ $286,002
Net Assets With Donor Restrictions$71,211$33,673▼ $37,538
Total Net Assets Fund Balance$2,567,227$2,815,691▲ $248,464
Total Liabilities and Net Assets / Fund Balance$3,058,260$3,331,407▲ $273,147

Asset Categories

AssetBook ValueDepreciationBasis
Land$615,000-$615,000
Other Land Buildings$10,976$62,375$73,351

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$148,055$212,334▲ $18,015-$373,966
2022$80,195$2,571▲ $65,580-$148,055
2021$35,970$42,279▲ $1,946-$80,195
2020$12,461$23,058▲ $451-$35,970
2019$11,036-▲ $1,475-$12,461
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gavin RicklefsExecutive DirectorFT$125,529$125,529

Board Members and Trustees

NameTitle
Bret YoungPresident
Meghan HansonVice President
Heather MenningDirector
Jean SteeleDirector
John OrmistonDirector
Kathie MesserDirector
Lynn ThurberDirector
Michael BradtDirector
Morgan WeberDirector
Roger GantzDirector
Sari KerslakeDirector
Tori NoblesDirector
Tonia BloomSecretary
Andrew MassieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,238,946
Program Service Revenue
$0
Investment Income
$34,306
Other Revenue
$17,536
All Other Contributions
$1,112,542
Change in Net Assets
$152,331

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded6$122,709
Total Noncash Contributions6$122,709

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,286,217
Revenue Not Reported on Financial Statements
$4,571
Revenue Not Reported on Form 990
$96,133
Total Revenue per Audited Statements
$1,382,350
Total Revenue per Form 990
$1,290,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$746,419
Other Expenses$392,038
Total Fundraising Expense$108,148
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$398,032$81,457$43,783$523,272
Current Officers, Directors, Trustees, and Key Employees$90,529$20,000$15,000$125,529
All Other Expenses$44,691$8,465$2,364$55,520
Payroll Taxes$41,207$5,666$4,636$51,509
Other Employee Benefits$24,267$3,337$2,730$30,334
Occupancy$23,159$3,106$2,684$28,949
Other Expenses$21,750$4,078$1,359$27,187
Interest$21,723--$21,723
Office Expenses$14,697$4,199$2,099$20,995
Pension Plan Contributions$12,620$1,735$1,420$15,775
Depreciation Depletion-$9,776-$9,776
Insurance$3,080$4,481-$7,561
Advertising--$5,225$5,225
Total Functional Expenses$855,989$174,320$108,148$1,138,457

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,138,457
Expenses per Audited Statements$1,133,886
Total Expenses per Audited Statements$1,133,886
Expenses Not Reported on Financial Statements$4,571
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$35,493
Fundraising Direct Expenses$17,957
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Miscellaneous Events - See Sched. O$35,493$35,493$17,957$17,536
Total Events$35,493$35,493$17,957$17,536
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$11,477
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

All members of the board of directors are provided a copy of the 990 prior to submission

Form 990, Part VI, Section B, Line 12C

The organization has a written conflict of interest policy. The procedure for addressing conflicts of interest is provided in the policy and adhered to by the board. Insiders sign the conflict of interest policy on an annual basis.

Form 990, Part VI, Section B, Line 15A

Executive director's salary is determined annually by the full board using state and regional comparison data and recommendations provided by the executive committee.

Form 990, Part VI, Section C, Line 19

The organization makes its 990, 1023, governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Bitter Root Land Trust
EIN
31-1595967
Phone
4063750956
Address
PO BOX 1806, HAMILTON, MT 59840

Signing Officer

Name
Lauren Rennaker
Title
Executive Director
Signed
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lauren Rennaker
Formed
1997
Legal Domicile
Mt
Voting Board Members
14
Independent Board Members
14
Employees
11
Volunteers
120

Preparer

Firm
Boyle Deveny & Meyer PC
Address
305 South 4th East Suite 200, Missoula, MT 59801
Preparer
Jaime Ward CPA
Phone
4067213555
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The finance committee of the board has been designated by the board to perform the oversight function for the selection and the work performed by the independent accountants.

PART III, Line 4A

Program Service Area 1: Conservation ProjectsBitter Root Land Trust partnered with local families and the community to preserve 969 acres in 2023. This included three new conservation easements that protected a diverse suite of community and natural benefits. Program Service Area 2: Conservation Easement Monitoring, Stewardship, and Land Management/EnhancementThe Stewardship program monitored all of our conservation easements and fee land holdings in 2023. The Stewardship Program partnered with three local landowners to complete enhancement projects on their properties, including a riparian zone restoration. Program Service Area 3: Conservation EducationIn 2023, Bitter Root Land Trust continued building a lasting conservation legacy in the Bitterroot Valley by partnering with local families and our community to conserve important farm and ranchland, wildlife and fisheries habitat, scenic open space, and public recreational opportunities. These conservation victories protected over 969 acres from Stevensville to Victor and preserved a diverse suite of community and natural benefits, including prime agricultural soils and habitat for elk and mule deer. Bitter Root Land Trust staff secured and spent $1,044,696 from public and private sources to purchase conservation easements on these important properties. These payments were made directly to the landowners during closing and do not appear as revenue or expenses of BRLT on this 990. Further, BRLT continued to work closely with the Natural Resources Conservation Services Regional Conservation Partnership Program (RCPP) to implement a $4.9 million grant designed to diversify agricultural conservation, support beginning farmers and ranchers, and increase the pace of farm and ranch conservation efforts in the Bitterroot. We closed the first project utilizing this program in 2023, partnering with the Mills family to preserve 71 acres. As we do every year, staff monitored all of our conservation easements in 2023 along with our fee title property. Bitter Root Land Trust again invested in conservation education programs to raise community awareness - among adults and students - of the importance of the Bitterroot Valleys water, wildlife, and working agricultural lands. The Annual Barn Dance which connects community members to conserved spaces was held at the conserved Flying E Ranch in the Burnt Fork neighborhood of Stevensville. The BRLT staff participated in farmers markets, a youth expo, and various other community events to further conservation educational opportunities for all ages.Program Service Area 1: Conservation Project Work Fishing and Recreational Access Projects:I.In 2023 Bitter Root Land Trust continued their partnership with Montana Fish, Wildlife and Parks, and the Bitterroot National Forest to complete recreation infrastructure projects at C. Ben White Memorial Fishing Access Site and Trailhead located near Conner, MT. Through this partnership, work began to install a pit toilet for use by recreators. Completed Conservation Projects: I.In February 2023, co-landowners and siblings Charlie and Sarah DeVoe in partnership with the Bitter Root Land Trust conserved their 820-acre property. A diverse landscape that showcases many favorite attributes of the Bitterroot Valley, the property features over 150 types of wildflowers, sagebrush shrublands and montane grasslands, forest, natural springs, the headwaters of two forks of Willoughby Creek, and riparian habitat all of which support local wildlife such as elk, mule deer, black bear, mountain lion, owls, Brewers sparrow, as well as the occasional wolverine and badger. Funding for the Haywire Flats conservation easement was provided by the Agricultural Land Easement Program of the Farm Bill and the Heart of the Rockies Keep it Connected program.II. In August 2023, Bitter Root Land Trust completed the 71-acre Mills conservation easement with Barry and Paulie Mills in Stevensville, MT. The property is primarily used for alfalfa

Part X, Line 10(A)

Of the $680,155 total in fixed assets, $615,000 consists of 160 Acres of land in ten parcels purchased by BRLT in 2022 for the Eastside Project. This land, which hosts a wide variety of wildlife and is prominently visible from the mid-valley, was likely to be converted to other uses prior to BRLT's acquisition. This asset is held directly for BRLT's programmatic conservation purposes.

Financial Statement Notes

Part II, Line 9: Organization Reporting of conservation easements.

The bitter root land trust expenses in the current fiscal year any costs of acquisition of conservation easements. Conservation easements represent rights to restrict the use of certain properties. By accepting an easement contribution, the bitter root land trust commits to protecting the easement restrictions in perpetuity. The easements have no market value as they technically cannot be sold but remain attached as a deeded restriction to the property and accordingly are not included as assets of the organization since the underlying property to which the easement is attached is not owned by the organization.

Part V, Line 4: Intended uses of the endowment fund.

The purpose of the endowment fund is to sustain the organization's work into the future once the fund is capitalized.

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IRS990/Desc0IN 2023, BITTER ROOT LAND TRUST CONTINUED BUILDING A LASTING CONSERVATION LEGACY INTHE BITTERROOT VALLEY BY PARTNERING WITH LOCAL FAMILIES AND OUR COMMUNITY TOCONSERVE IMPORTANT FARM AND RANCHLAND, WILDLIFE AND FISHERIES HABITAT, SCENIC OPENSPACE, AND PUBLIC RECREATIONAL OPPORTUNITIES. THESE CONSERVATION VICTORIESPROTECTED OVER 969 ACRES FROM STEVENSVILLE TO VICTOR AND PRESERVED A DIVERSE SUITEOF COMMUNITY AND NATURAL BENEFITS, INCLUDING PRIME AGRICULTURAL SOILS AND HABITATFOR ELK AND MULE DEER." SEE SCHEDULE O FOR ADDITIONAL DETAILS.
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