Mission
HEADWATERS ECONOMICS, INC. IS AN INDEPENDENT, NONPROFIT RESEARCH GROUP. OUR MISSION IS TO IMPROVE COMMUNITY DEVELOPMENT AND LAND MANAGEMENT DECISIONS.
Public Charity
HEADWATERS ECONOMICS INC
Based in BOZEMAN, MT, HEADWATERS ECONOMICS INC operates as a Public Charity. The organization reported $3.1M in revenue, $3.1M in expenses, $4.2M in total assets for fiscal year 2025. Imperigo tracks 28 reported grant relationships connected to this organization totaling approximately $1.8M.
EIN: 743171967
BOZEMAN, MT
Land Resources Conservation
NTEE: C34
Latest filing: 2025
Total Revenue$3.1M
Total Expenses$3.1M
Total Assets$4.2M
Grant Records28
Funding Total$1.8M
Filing Years2021–2025
Where $100 goes at Headwaters Economics Inc
How Headwaters Economics Inc divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$93
Programs
the work itself
$6
Management
running the organization
$1
Fundraising
raising the next dollar
Inside the $93 for programs
$93
Headwaters Economics conducts independent research, develops practical tools, and works directly with communities to advance data-driven solutions for economic resilience and risk reduction
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
HEADWATERS ECONOMICS RECEIVED $115,000 FROM CDP'S PREPAREDNESS FUND TO PROVIDE TECHNICAL ASSISTANCE AND POLICY GUIDANCE TO RURAL COMMUNITIES IN COLORADO AND UTAH TO REDUCE WILDFIRE AND FLOOD RISKS. THE ORGANIZATION WILL HELP LOCAL GOVERNMENTS ADOPT WILDFIRE-RESISTANT BUILDING CODES AND DEVELOP FLOOD MITIGATION STRATEGIES, STRENGTHENING LONG-TERM RESILIENCE AND IMPROVING ACCESS TO FEDERAL DISASTER PROGRAMS.
$115,000
EQUITABLE CLIMATE RESILIENCE AND SUSTAINABILITY OUTCOMES FOR COMMUNITIES
$114,978
WATER ACCESS AND CONSERVATION
$5,300
WATER ACCESS AND CONSERVATION
$500,000
TO PROVIDE GENERAL OPERATING SUPPORT.
$150,000
Showing up to 5 of 28 total records — full history available with membership.
Officers & Directors
Director
Bill Stoddart
Director
Bob Buzzas
President
Carmen Mcspadden
Director
Cathy Costakis
PROGRAM MANAGER
Douglas Green
Director
Joe Mccarty
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $3.1M | $3.1M | $4.2M |
| 2024 | $4.9M | $3.8M | $4.1M |
| 2023 | $3.2M | $2.9M | $3.1M |
| 2022 | $2.6M | $2.9M | $2.6M |
| 2021 | $3.4M | $2.4M | $2.9M |
Between 2021 and 2025, reported annual revenue declined from $3.4M to $3.1M (-8%), with total assets most recently reported at $4.2M.
Interactive year-over-year charts and full filing details available with membership.