First Interstate BancSystem Foundation: Montana
/OVERVIEW: This Billings, Montana-based corporate funder supports community development and leadership through grantmaking in Montana, Idaho, Oregon, Washington, Wyoming, and South Dakota.
IP TAKE: This bank funder makes many grants each year, and a majority stay within Montana. Affordable housing has been a big interest lately.
PROFILE: The First Interstate BancSystem Foundation (FIBF) is a corporate funder based in Billings, Montana. First Interstate Bank is a $12 billion community bank with more than 120 offices in Montana, Idaho, Oregon, Washington, Wyoming, and South Dakota. The bank was established in 1968, and over a 25-year period invested $20 million in the communities it serves.
This foundation's two main grantmaking areas are community development and leadership. Community development grants support nonprofits that serve low and mid-income people in the bank’s operating territory. This focus here is affordable housing, economic development, and various services that help this demographic. Leadership grant awards are recommended by bank branch leadership to address needs in their home communities. Nonprofits’ organizational background, leadership strength, and financial stability all come into play with these grants.
Approximately 46 percent of foundation grants fund housing, economic development, youth, and leadership. About 22 percent of grants support education and library programs, 20 percent emergency needs like shelters and hospitals, and 10 percent arts and culture groups.
Unsolicited grant applications sent to this foundation's main mailing address are forwarded to the relevant bank branches. Only grants recommended by BancSystem branches are funded. The application guidelines are pretty standard and advise that groups are less likely to receive funding if they are politically or religiously affiliated for the purpose of influencing legislation or benefiting one religious group.
The first step in the application process is to send a letter of inquiry to the nearest bank branch. If interested, the bank branch will invite grant seekers to send in a grant application. The grant application can be accessed online. Upon review, you’ll receive an award or decline letter from FIBF.
In one year, the foundation made grants to the Neighborworks Montana, American Cancer Society Missoula, YMCA of Helena, and Big Brothers and Sisters of Livingston. Grants regularly support local community foundations, such as the Helena Area Community Foundation and the Bozeman Area Community Foundation. Most grants are between $500 and $20,000, and many are given out each year. Grants $30,000 or higher require prior approval by the foundation board.
In a recent year, total grantmaking exceeded $2.8 million. Of this amount, over $973,000 came in the form of foundation grants to nonprofits, $1.3 million was donated by branch fundraising and charitable contributions, over $446,000 was part of an employee gift match program, and over $100,000 was part of an employee volunteer match program.
Direct general questions to the foundation at 406-255-5393. The foundation’s mailing address is P.O. Box 7113, Billings, Montana 59103-7113. There are five members on the foundation’s board of directors.
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