2026-07-28T14:44:14-07:00 2025-12-31 820467399 Rudd & Company PLLC 3805 Valley Commons Dr Ste 7 Bozeman MT 59718 990 2025-01-01 743171967 HEADWATERS ECONOMICS INC HEAD 4065997425 PO BOX 7059 BOZEMAN MT 59771 PATRICIA HERNANDEZ Executive Director 2026-07-28 true DANE HANCOCK CPA P01821031 4065853393 2025 2025-03-06 01:10:19Z PO BOX 7059 BOZEMAN MT 59771 3143592 false X HEADWATERSECONOMICS.ORG X 2006 MT HEADWATERS ECONOMICS, INC. IS AN INDEPENDENT, NONPROFIT RESEARCH GROUP. OUR MISSION IS TO IMPROVE COMMUNITY DEVELOPMENT AND LAND MANAGEMENT DECISIONS. 9 7 15 0 4824091 2821175 20543 246079 48162 66199 6279 10139 4899075 3143592 10000 0 1754301 1921371 0 15274 2001225 1143725 3755526 3075096 1143549 68496 4080627 4242050 145484 238411 3935143 4003639 HEADWATERS ECONOMICS, INC. IS AN INDEPENDENT, NONPROFIT RESEARCH GROUP. OUR MISSION IS TO IMPROVE COMMUNITY DEVELOPMENT AND LAND MANAGEMENT DECISIONS. false false 2782257 10000 246079 Headwaters Economics conducts independent research, develops practical tools, and works directly with communities to advance data-driven solutions for economic resilience and risk reduction. In 2025, our team delivered more than 65 briefings and presentations to elected officials, agencies, and community leaders, directly reaching more than 6,000 people. Our research was featured in more than 2,100 media stories and disseminated through dozens of original reports, peer-reviewed publications, interactive data tools, podcasts, and newsletters. See more at www.headwaterseconomics.org. Providing Economic Insights for Stronger CommunitiesClear, accessible economic data helps local leaders make better decisions. In 2025, we:Updated and maintained the Economic Profile System (EPS), a free tool delivering customized economic and demographic reports for communities, counties, Tribal areas, states, and regions used by planners, agencies, and local governments nationwide.Enhanced the Rural Capacity Map, an interactive tool identifying where staffing and expertise gaps limit communities' ability to pursue infrastructure and risk-reduction projects, and published peer-reviewed research on its utility for improving access to grants.Published a report identifying concrete strategies for rural communities to secure local benefits from large-scale development projects.Published a synthesis documenting how Montana Community Foundation used data to expand outreach to rural and Tribal communities.Strengthening the Outdoor Recreation Economy & Public LandsOutdoor recreation and public lands are significant economic drivers in communities across the West and beyond. In 2025, we:Delivered localized economic analyses and recommendations for economic development and outdoor recreation projects in Idaho, Montana, New Mexico, and Vermont.Published a report examining how wildfire risk and development constraints will limit housing options on public lands.Updated two widely used data visualizations illustrating visitation trends and economic contributions of national parks and outdoor recreation at the state level.Maintained three web-based data tools used by the U.S. Fish & Wildlife Service, Bureau of Land Management, and U.S. Forest Service to support land management, planning, and community engagement.Reducing Risk and Increasing Community StabilityAs disasters grow more frequently and costly, communities need rigorous, independent analysis to make informed decisions. In 2025, we:Provided technical assistance to 40 communities in 14 states to support wildfire and flood risk-reduction.Published a report finding that more than 1,100 communities across the U.S. face wildfire risk comparable to recent urban disasters, equipping planners and policymakers with data to prioritize action.Published a peer-reviewed journal article and companion report documenting how wildfire insurance market disruptions cascade into local and state budget pressures research informing legislative and regulatory discussions.Published analyses showing that building wildfire-resistant structures after disasters could save billions of dollars, and that next-generation wildfire risk models must account for the built environment.Released a report demonstrating that reclaiming abandoned mines can reduce harmful and costly flood disasters, providing a concrete strategy for community protection.Published findings that states must modernize stream crossing standards to protect communities from flooding, and a separate report on wildfire strategies for historic buildings.Co-hosted a Tribal Emergency Manager Summit convening leaders from a five-state region to strengthen cross-jurisdictional coordination.Conducted an independent evaluation of the USDA Forest Service's Community Wildfire Defense Grants (CWDG), assessing its effectiveness in reaching high-need communities.Maintained and expanded widely used public data tools, including Wildfire Risk to Communities (in partnership with the U.S. Forest Service), Neighborhoods at Risk, grant funding dashboards for CWDG and Slip-On Tanker programs, and data visualizations tracking wildfire structure losses and ignition causes. 2782257 true true false false false false false false false false true false false false true false true false false false false false false false false false false true false true false false false false false false false false true false false false false false false false false true 16 0 true 15 true false false false false false false false 0 false false false false false false false X 9 7 false false false false false false false true true false false true true true true true true true true false X X DAN CENTER 8456423280 PO BOX 7059 BOZEMAN MT 59771 PATRICIA HERNANDEZ Executive Dir. 40.00 0.00 X X 176603 0 6227 KELLY POHL ASSOC. 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DIRECTOR 133642 4009 16402 154053 PATRICIA HERNANDEZ Executive Dir. 176603 5298 929 182830 X 3 370827 FMV false false false Form 990, Part VI, Section B, Line 11b EACH MEMBER OF THE BOARD REVIEWED THE FORM 990 BEFORE IT WAS FILED WITH THE IRS. Form 990, Part VI, Section B, Line 12c EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWER IS REQUIRED ANNUALLY TO SIGN A STATEMENT WHICH AFFIRMS THAT THE PERSON (A) HAS RECEIVED A COPY OF THE CONFLICT POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THAT HEADWATERS ECONOMICS, INC. IS A CHARITABLE TAX-EXEMPT ORGANIZATION AND TO MAINTAIN ITS FEDERAL TAX-EXEMPT STATUS MUST ENGAGE IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS FEDERAL TAX-EXEMPT PURPOSES. Form 990, Part VI, Section B, Line 15b THE EXECUTIVE DIRECTOR ANNUALLY REVIEWS THE PERFORMANCE AND COMPENSATION OF EACH EMPLOYEE OF THE ORGANIZATION, OTHER THAN HERSELF. THE BOARD REVIEWS THE PERFORMANCE AND COMPENSATION OF THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS. THE EXECUTIVE DIRECTOR AND THE BOARD REVIEW PUBLISHED SALARY SURVEYS AND COMPARE EMPLOYEES' CURRENT WAGES WITH COMPARABLE POSITIONS IN OTHER PROFESSIONS TO DETERMINE REASONABLENESS. Form 990, Part VI, Section C, Line 18 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR INSPECTION AT ITS OFFICE UPON APPROVAL BY THE BOARD. Form 990, Part VI, Section C, Line 19 NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC