Bitterroot Fund
Bitterroot Fund is a private foundation based in Atlanta, Georgia. Its 2025 filing reports grants to charitable organizations, all of which were in Montana; the foundation states that it identifies and invites potential partners to apply around specific initiatives.
Bitterroot Fund at a glance
In short: Bitterroot Fund gave $298K across 18 grants in 2025 (avg $17K), mostly in Montana. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $297,500
- +21.0% vs 2024
- Grants made (2025)
- 18
- +0.0% vs 2024
- Average grant
- $16,528
- +21.0% vs 2024
- Median grant
- $15,000
- Total assets
- $354,990
- +147.8% vs 2024
- Primary geography
- Montana (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to Bitterroot Fund
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests. Within the scope of its strategic plan, it identifies and invites potential partners to apply for grants around specific initiatives, seeking partners from the public, private, and nonprofit sectors. The filing says grants are made to charitable organizations as defined by Internal Revenue Code Section 501(c)(3), and that expenditure responsibility grants are made to qualifying organizations and individuals. The foundation does not make grants to individuals.
- Contact
Application contact: Bitterroot Fund
Mailing address: 3550 Lenox Road Ne Suite 2700, Atlanta, GA 30326
Phone: (404) 264-1400
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Bitterroot Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Random Acts of Silliness ($85K). Together the top 10 received $255K.
Grant Size Distribution
55 grants across all recorded years
The most common grant size was under $50K: 52 grants of 55 (95%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to recipients in Montana. Listed recipients include organizations in Bozeman and Livingston.
Grant Distribution by State
Share of 2025 grant dollars across all 18 itemized grants.
States
Cities
How Bitterroot Fund gives
- 67% of 2025 grantees were also funded in 2024. Method
- Giving grew 138% from 2022 to 2025. Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $50K (2021) to $298K (2025). In 2025 it made 18 grants totaling $298K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Random Acts of Silliness Bozeman, MT | Charitable Support | $85,000 |
| Read Montana Bozeman, MT | Charitable Support | $30,000 |
| The Shane Lalani Center for the Arts Livingston, MT | Charitable Support | $25,000 |
| Gallatin Valley Land Trust Bozeman, MT | Charitable Support | $20,000 |
| Verge Theater Bozeman, MT | Charitable Support | $20,000 |
| Bridgercare Bozeman, MT | Charitable Support | $15,000 |
| Casagal of Gallatin County Bozeman, MT | Charitable Support | $15,000 |
| Community Health Partners Livingston, MT | Charitable Support | $15,000 |
| One Valley Community Foundation Bozeman, MT | Charitable Support | $15,000 |
| Opera Montana Bozeman, MT | Charitable Support | $15,000 |
Ready to take the next step with Bitterroot Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $354,990 | $513,617 | $301,897 | $297,500 | 18 | $297,500 | $9,220 | $18,729 |
| 2024 | $143,270 | $12,003 | $249,951 | $245,900 | 18 | $245,900 | $7,952 | $12,683 |
| 2023 | $381,218 | $19,801 | $152,249 | $147,000 | 12 | $147,000 | $14,539 | $20,795 |
| 2022 | $513,666 | $6,321 | $129,278 | $125,000 | 5 | $125,000 | $2,043 | $28,170 |
| 2021 | $636,623 | $700,000 | $73,734 | $50,000 | 2 | $71,175 | — | $1,712 |
| 2020 | $14,430 | $57,900 | $47,543 | — | — | — | — | $445 |
Under IRS private-foundation payout rules, Bitterroot Fund reported a distributable amount of $19K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The available statements do not provide a mission for the foundation. Its 2025 grants included organizations whose own missions span several areas. For example, Random Acts of Silliness describes itself as an arts organization that builds community through art installations, theater, and playful activities. The Shane Lalani Center for the Arts says it aims to strengthen community through participation in the arts, while Gallatin Valley Land Trust describes its work as connecting people, communities, and open lands through conservation and trails.
Other 2025 recipients describe work in community philanthropy, health care, reproductive and sexual health, and opera. These are the grantees’ stated missions, not stated priorities of the foundation.
Grantmaking
In filing year 2025, Bitterroot Fund reported 18 grants totaling $297,500. Grant amounts ranged from $2,500 to $85,000, with a median of $15,000.
Among the largest reported grants were $85,000 to Random Acts of Silliness, $30,000 to Read Montana, $25,000 to The Shane Lalani Center for the Arts, and $20,000 each to Gallatin Valley Land Trust and Verge Theater. The fund also gave $15,000 each to Bridgercare, CasaGal of Gallatin County, Community Health Partners, One Valley Community Foundation, and Opera Montana.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Frank T Waterson III as president and treasurer.
Bitterroot Fund is led by Frank T. Waterson III, President & Treasurer on every filing since 2021 — the only officer listed, and uncompensated.
Officers on the 2025 filing
Frank T. Waterson III
President & Treasurer
On filings since 2021
0.1 hrs/week
No compensation reported
Former officers (1)
- Former: Kenneth C. Halcom (2020–2021) — President Emeritus
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Bitterroot Fund
How much does Bitterroot Fund give each year?
Bitterroot Fund gave $298K across 18 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $246K across 18 grants.
What is Bitterroot Fund's typical grant size?
Bitterroot Fund's median grant in 2025 was $15,000, and its average grant was $16,528, across 18 grants on its 2025 IRS Form 990-PF.
Where does Bitterroot Fund give grants?
Bitterroot Fund gives mostly in Montana: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Bozeman, MT (16 grants) and Livingston, MT (2 grants).
Does Bitterroot Fund give general operating support?
Not in 2025: none of the 18 grants with a stated purpose on Bitterroot Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable Support" (18 grants).
Who are Bitterroot Fund's largest grantees?
Bitterroot Fund's largest 2025 grantees include Random Acts of Silliness ($85,000), Read Montana ($30,000) and The Shane Lalani Center for the Arts ($25,000), according to its 2025 IRS Form 990-PF. Together they received 47% of its itemized 2025 grant dollars.
How large is Bitterroot Fund?
Bitterroot Fund reported $355K in total assets on its 2025 IRS Form 990-PF. It paid out $298K in qualifying distributions that year, against a required minimum of $19K (roughly 5% of its investment assets).
What does Bitterroot Fund fund?
The available statements do not provide a mission for the foundation. Its 2025 grants included organizations whose own missions span several areas. See mission & focus areas ↑
How do I apply for a grant from Bitterroot Fund?
The foundation does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Bitterroot Fund's EIN?
Bitterroot Fund's EIN (Employer Identification Number) is 85-0717802. IRS Form 990 filing data is available on this page for 2020–2025.
Does Bitterroot Fund accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 10, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 2, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 12, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 4, 2026)
Explore Open Grants
Browse active grant opportunities in Bitterroot Fund's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Bitterroot Fund funder profile. GrantGraph. Retrieved October 13, 2026, from https://grantable.co/funders/bitterroot-fund-morg_9ebaf7cf670b49fa8fa4dfc030c78adb
BibTeX
@misc{grantable_850717802_2026,
author = {{Grantable}},
title = {{Bitterroot Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/bitterroot-fund-morg_9ebaf7cf670b49fa8fa4dfc030c78adb},
note = {Accessed 2026-10-13. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Bitterroot Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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