P.O. Box 863 • Helena, MT 59624 • (406) 449-3770/Fax (406) 442-9602 • Email: mhf@montana.com

MIKE MANSFIELDFrom Butte to the halls of the U.S. Capitol to Japan,

he made a difference by being a true statesman.

How will you make Montana history?

OfficersMatt Cohn, President

Helena, MT

Thomas E. Donnelley, II, Vice-PresidentChicago, IL and Alder, MT

Debby Leadbetter, Vice-PresidentBozeman, MT

Chris Warden, TreasurerMissoula, MT

Tim Bartz, Immediate Past PresidentHelena, MT

Nora Hohenlohe, At-Large RepresentativeWashington, DC and Wolf Creek, MT

Members-at-LargeRobin Wheeler AzquetaWest Palm Beach, FL

Tim BabcockHelena, MT

Timothy J. BartzHelena, MT

Rockwood BrownBillings, MT

Matt CohnHelena, MT

Thomas E. Donnelley, IIChicago, IL and Alder, MT

Nora HohenloheWashington, DC and Wolf Creek, MT

William JohnstoneGreat Falls, MT

Debby LeadbetterBozeman, MT

Monty LeshMiles City, MT

Aidan MyhreHelena, MT

Nancy NicholsonHelena, MT

Bruce ParkerReed Point, MT

Charles PettyHamilton, MT

Pamela RentschlerScottsdale, AZ and Cameron, MT

R.J. “Jim” Sewell, Jr.Helena, MT

J. Robert SlettenGreat Falls, MT

Christopher K. WardenMissoula, MT

Penelope WilsonMalvern, PA and Big Timber, MT

Directors EmeritiC. Brooke Dormire

Belgrade, MT

Dottie Fossell Ennis, MT

Albert GalenWest Covina, CA

Robert M. MorganHelena, MT

Ted SchwindenPhoenix, AZ

Ward Shanahan Helena, MT

Ex-OfficioSharon Lincoln

Montana Historical Society ChairBillings, MT

Mary OliverMontana Heritage Commission Chair

Ennis, MT

StaffAmy Sullivan

Executive Director, Helena, MT

Elisa PetersonOperations Director, Helena, MT

Rhonda RonanAdministrative Assistant, Helena, MT

Jim Bridgersurvived bear attacks, arsenic

poisoning and Indian battles.

How will you make Montana history?

This was an eventful year for the Montana History Foundation. We moved forward on a number of initiatives. Most significant of these was the successful funding for the publication of the firstcomprehensive Montana history textbook. This textbook is designed to meet the needs of Montana'steachers and middle-school students, with 5000 copies being given to schools free of charge. MHFplayed a critical role in securing donations and grants to bring this project to fruition.

Through the generosity of our Board and numerous donors, we have substantially reduced the debt onthe Scriver Center building, making us financially stronger and allowing us to direct future efforts onworking with our partners in preserving Montana’s history. While most of our fund raising efforts gotoward assisting the Montana Historical Society and the Montana Heritage Commission, we have

expanded our mission to provide resources to other organizations in our state. Of note, we have formed a strategic alliance with the Montana PreservationAlliance–a statewide, not-for-profit organization dedicated to providing Montananswith the resources necessary to preserve our state's unique history and culture.

We have made a number of operational changes that have increased our ability toserve our partners. Nationwide, there has been increased scrutiny of corporategovernance and fiscal responsibility of non-profit organizations. As a Board, wetake this very seriously and continue to work with our capable staff to ensure thatour operations are above reproach.

Looking ahead, we will continue our efforts to secure grants and funding for avariety of important projects. The work of preserving Montana’s history neverends. The MHF Board and staff remain resolute in our mission so that futuregenerations will be able to share in the beauty and richness of our collective past.

With sadness I must report that in early May we lost Allan Hamilton, a long-timeboard member and friend to us all. Allan had a strong passion for Montana andhistoric preservation, and was a true leader among us. His generosity and sense ofcommunity service made a lasting impact on all that he touched. He is sorelymissed.

Thank you for your ongoing support.

Matt CohnPresident

The Montana History Foundation is the leading source for contributions and

funding to preserve and protect history resources throughout Montana.

The Montana History Foundation is an

independent, non-profit corporation

that provides development and

advisory leadership for organizations

dedicated to the preservation of

Montana’s history and culture. We

partner with leading preservation

organizations, like the Montana

Historical Society and the Montana

Heritage Commission, to ensure that

Montana’s unique history is available

for current and future generations.

We have successfully funded a new middle-school Montana History Textbook titled

Montana: Stories of The Land. Working closely with the Montana Historical Society,

we received enough donations to make 5000 textbooks available for free to schools

the fall of 2008.

We continue our work to repair and preserve Virginia City’s music machines. One

of the largest publicly owned music machine collections in the United States, the

machines continue to delight visitors of all ages. Some machines have been com-

pletely overhauled while others have received a thorough tuning. In the process,

we also secured a $100,000 endowment to make sure the collection is regularly

maintained.

Working with our newest partner, the Montana Preservation Alliance we have

helped them to receive funding to provide more grassroots help to communities to

protect Montana’s historical assets—in particular, Montana’s historic structures.

We are looking forward to expanding our assistance to the Montana Preservation

Alliance by working in concert with the National Trust for Historic Preservation

to raise funds together. This “trifecta,” as we are calling it, is a fairly new concept

in fund raising that will combine our talents to bring the most help we can to

Montana communities.

Virginia and Nevada Cities will receive a marketing boost from a project we are

funding to produce a movie-quality DVD explaining the importance of the sites

and why we need to protect them. The piece will be used with donors, in apply-

ing for grants, and in educating publicly-elected officials. We have raised about

1/3 of the cost of the project and will be looking to complete the project in 2008.

As always, we continue to look for unique ways to unite donors with projects.

We like to see Montana’s history preserved, protected and saved while we fulfill

a donor’s desires to give back to the community of Montana!

A S S E T S

Cash and Cash Equivalents $ 572,333 $ 738,739

Receivables:Accounts Receivable 17,634 150Promises to Give, Net 42,438 224,596Other Receivables 29,000 29,000

Inventory 17,659 10,218Prepaid Expense 1,821 2,031

108,552 265,995

Investment Securities 1,216,155 997,644

Fixed Assets, at CostCuratorial Building and Improvements 1,168,036 1,168,036Scriver Center 1,224,018 1,224,018Software 25,056 16,097Equipment 22,087 20,932

2,439,197 2,429,083

Less Accumulated Depreciation and Amortization <430,952> <357,246>

2,008,245 2,071,837

Other AssetsUnamortized Loan Fee 800 800Donated Assets 77,680 33,948Cash Surrender Value of Life Insurance Policy 40,481 39,443Interest in Charitable Remainder Trust 186,465 175,671

305,426 249,862

Total 4,210,711 4,324,077

L I A B I L I T I E S A N D N E T A S S E T S

Accounts Payable $5,492 12Accrued Payroll Taxes and Benefits 2,023 5,871Mortgage Payable 243,000 650,800Planned Gift Liabilities 4,643 26,958

255,158 683,641

Net AssetsUnrestricted 1,327,565 1,289,076Temporarily Restricted 1,036,158 781,123Permanently Restricted 1,591,830 1,570,237

3,955,553 3,640,436

Total $ 4,210,711 $ 4,324,077

MHF Statement of Financial Position as of June 30, 2007 and 2006

6.30.07 6.30.06▼ ▼

AnonymousRonna AlexanderNorma AndersonRobert M. AndersonAnderson ZurMuehlen and Co, PCWilliam D. AusmusBetty BabcockBeverly BaconLucille BalfourRobert C. and Coleen K. BanderobRoger Barber and Mary Van BuskirkSherri A. BarksdaleWilliam J. BarrettShirley BarrickTimothy J. and Trish BartzJohn BaucusLoyce L. BaumRobert T. and Shirley J. BayleyDonna L. BeasleyTom and Deb BeaudetteDonna C. BennettElaine and Floyd BennettElizabeth BergnerC. Thomas and Linda D. BersuchNettemae H. BinnieDon and Joan BishopPeggy Lee BlythCassandra BogardSamuel D. BoggessHarper L. and Barbara Bohr, Jr.Mary A. BoldJoseph D. BortzBurton and Myrtle BoschKarla BoydStan and Glenda BradshawDiana BradyCarl W. BrandtBarbara BrewerWilliam and Martha BrocknerCharles A. and Yvonne BrookeKizzie R. BrownRockwood and Marilyn BrownSteve and Judy BrowningWilliam J. BucherGlenna BuckDonna BurgRobert F. and Bettina BurkeDuane and Dorothy BurkenpasGary M. BuyachekCharlie ByrneFrank Kell CahoonGene CarlsonEileen CarneyArleen Peace CarpenterJohn P. and Patricia S. CaseJack Castor

CHEERSGloria ChesterfieldJohn H. and Marion A. ChristnachMatthew T. Cohn and

Mary Ellen HolversonBarbara ColeRudolph R. and Grace CollinsThomas ColmanGerald M. and Coral J. CooperPhyllis CoxDanny N. CoyleJim CurtisHarry and Patricia DahlbergSara and Bill DakinRobert and Alice DanskinDavidson CompaniesPaul and Janet DavidsonDan H. DavisJohn W. DawsonRobert L. and Lorraine J. DeckerRichard DeesDennis and Phyllis Washington

FoundationFred Des RosierDonald D. and Ruth D. Dodge, Jr.The Donnelley FoundationJames R. DonnelleyThomas E. and Barbara DonnelleyRichard and Josephine DonTignyC. Brooke and Kornelia DormireRobert DunnRussell R. and Linda DutcherRichard and Marlisa EbelingThomas J. EbertWalter and Karen EggedGeorge and Lucyann EnnisHarold EstesMick and Audelle EstesFrances E. EtzwilerM. R. EvankoJoseph J. FahnCraig W. FanningFrank and Dorothy FarnerElbert and Inez FazenbakerScott FernandezPaul FilicettiJohn FisherJohn C. and Jeri FisherRandall and Nora Flaherty GrayWilliam and Dolores FlemingWilliam C. FlickBill and Anita FlintR. A. FossumAllen and Barbara FoucarGary FrancePennie Frank

Betsy Chadderdon Frantz Susan FrantzickAlbert GalenJack GaltLarry and Trudi GannonJerry and Kathleen GardenhireDavid G. and Lorrie GatesWilliam M. GatesGCM ServicesGladys GerhartSereta Taylor GerhartMary Esther GilgJeanne L. GlasscockEdward and Alaine GohnRichard and Joan GohnJeffry and Elizabeth GoldesDavid A. GrahamJoyce GrandeWilliam and Ann GrayGeorge L. Grice, Jr.Shirley GroffWilliam and Caroline GuanellRobert and Katherine GundersonCarol GuthrieW. J. HadlowMaripat N. HagenToni HagenerCharles K. and Darlene Y. HamarBarbara HamburgRonald and Nancy HampaJack and Jeanne HardyBernard and Jean HarknessLee C. HarrisCharles and Bonnie HashRobert F. HassmanDave and Dorothy HawkinsSpeck and Dee HelmbrechtBarbara S. HendersonDelores J. HillRobert E. and Mavis A. HillJim HodgeJeff and Bobbi HofferChristian and Nora HohenloheCecil Holland Jr.James and Wanda HollensteinerGregory B. HoltJoan HolterAntoine Homar y HomarJohn HoskinsF. W. and Carole S. HowellHubert HueblDale HuffmanWilliam E. and Mary V. Hunt, Sr.Elfrieda IdlemanDonald L. and Sharon IslerThomas N. Ivey

William JacksonInge and Marge JacobsonWilliam Ira James, IIIL. M. JenningsGreg and Barbara JergesonDeborah L. JermunsonRuth JewettCoburn R. and Dale L. JohnsonDurwood and Kay JohnsonHenry and Norma JohnsonKeith and Blanche JohnsonWilliam and Andrea JohnstoneRussell C. JonesStephen P. and Diane M. KaneJames K. and Dolores KeaneDavid T. KearnsLinda A. KellyDorothy KelseyBonnie J. KemRodger N. KentA. T. KersichDianne KimballDenise KingEleanor KinyonAlbert KircherLawrence W. KleeAlvin KoberBarbara S. KoesslerD. Joe Willis and Judy KofordAllen and Iva KolstadShirley J. KontosGlenn A. KozeluhLinn KriegArlie LaneRobert and Miriam LangRoger and Sue LangDave and Denise LarsonJames LarsonAndrew and Ann LaszloEdna M. LayDan and Debby LeadbetterJames and Margie LearyJack LeClairRichard and Rosemary LeeSue LeferinkPaul and Renate LehmannJudith LeisterGary and Ann LibecapByron and Elinor LindsayLeslie V. LinendollT. D. LittleEdward and Mary Ann LocklearG. W. and Lillian LoewenbaumJesse and Ruth LongMarion S. LucasDorothy Luening

Historical photos courtesy of Montana Historical Society and Montana Heritage Commission

Vivian Luther-SchaferDennis J. and Meryl G. LutzTony and Lillian MaackDonald and Priscilla MacleanWhitney and Betty MacMillanGil MagilkeDale and Sue MahlumRich ManessLeonard and Doloress MattesonIsabelle W. MattsonDebra S. MaughanJune MausMarian MayEldora McBrideAndrew and Charen A.

McFarlandRuth McFarlandMarceline A. McGurkPatrick McGurkJames P. and Judy C. McNallyJudith McNultyRobert and Delores MerrillRichard Lee MerrittCarolyn G. MillerWilliam and Nancy MillerWilliam C. MitchellLeona MitzelEmory V. MobleyRichard and Valerie MonroeGayle MoonMoonlight Basin Ranch, LPConstance MooreMichael C. and Constance G.

MorganJeanne Morris LordDavid and Jane MortonGeorge D. MuellerGlenn MuellerCynthia E. MulvaneyZane G. MurfittMary MuthJack MyersRobert P. MyersMyhre Frank Family Endowment

FundDavid R. and Deborah D. NagleSusan NearThomas E. and Bernice NelsonVan Kirke and Helen NelsonAlan and Nancy NicholsonRobert NobleThomas A. NygardLarry N. and Susan K. OgdenWilliam OjalaOld Hand HomeAndrea M. OlenikGretchen OlheiserMary Oliver

Donald and June OllmannDuane and Elizabeth OlsonJeanne OlsonJohn and Marilyn OlsonJ. D. O'NeillEdward and Barbara O’TooleJames J. and Kathleen OttPacific Steel and RecyclingHelen M. PaigeJohn and Sue PearsonElisa PetersonCharles and Norma PettyDonald E. PfauFrank W. PhillipsXandra PitschJames L. PowellCharles F. PowersPPL Montana. LLCMarvin PresserOlive PriceIrvine PurdyMary PyferJoe M. QuinnRose RauchKristine ReddinAl and Lois ReevesRichard R. RehmWalter P. and Therese C. ReichertJohn and Ann ReinkingFrederick and Pamela RentschlerJohn and Gail RichardsonKenneth RickertArdis Danzer RidgewayThomas and Jamie RingKenneth and Pat RobinsonFrank RoseScott and Sonya RosenthalS. Ann RossPhil and Lee RostadMelanie RothNancy RothWilliam and Shirley RuckerEdward and Phyllis RuppelTammy RyanCharlotte SanddalTodd SavittJohn ScanlonF. June SchaertlEd SchettlerLeslie L. SchmidtTed and Pat SchmidtErnest R. SchmittGay SelbyMarian J. SetterR. J. Sewell, Jr.Ward ShanahanJohn and Margaret ShearouseNancy Shelton

Stephen ShirleyOrville and Donna SiegleGordon H. SimmonsWilliam SimmonsMargaret SimondsRichard SimsDonald E. SivertsonWilliam D. and Rosana SkeltonRichard and Jacqueline SlaughterJ. Robert and Pat SlettenMerril and Sarah SlindC. E. Vicki SmithDave and Karlee SmithKenneth A. and Gloria A. SmithMarjorie SmithMary Minor SmithRobert C. SmithPaul SnyderJosephine SpauldingVirginia Lee SpeckDarlene SpekJohn and Bev SpekState Employees' Combined

Giving CampaginConnie StaudoharHal and Sheila StearnsHarvey and Ila SteenJessica StickneyDoris StilesDonald A. StoutLeroy StrandEdwin A. StrommenPatricia A. SturgesLawrence and Betty StyrenJames E. and Marjorie V. SullivanMike and Amy SullivanDan Sundling

Thea SwensonDonald and Carol TaylorVern and Mary Lynn TaylorNicholas and Sandra TeelJack ThielenElizabeth ThorndikeMax ThorntonM. Catherine TilzeyRobert and Rebecca TirrellCharles and Dorothy TodeCreath A. and Mildred M. TooleyKeith and Joan TracyFrederick and Virginia TraegerRalph P. and Gloria E. UlrichRobert ValachLois E. Van HyningCarroll Van WestEdward G. and Janis L. VaseckaChristopher VeisPaul E. and Elaine VerdonFred and Julie VideonLucille VinyardVirginia City Preservaton

AllianceRussel WaldenGordon W. WallaceJohn and Arlene WallaceJohn C. WallaceShirley WarehimeNettie M. WarwoodMarian S. WayBarbara WeatheredRobert and Norma WegmannEmory WellmanRoy WellsMurray A. and Jayne P. WeltonWendt, Inc.Wilbur P. Werner TrustRobert G. and LaWana H.

WhaleyJack M. WhiteKathy WhittenbergerMaureen WicksK. F. and Lila WiesemannByron and Gwen WilliamsDavid A. and Michele WillsonPenelope WilsonDouglas and Nancy WolcottRichard F. and Sarah A. WollinDavid and Marilyn WootenBill and Edith WrightFred and Elizabeth WyantPaul and Arlene WylieJames and Nadine YaplePeter Yegen, Jr.Michael YorkCharles R. Zadra

GEORGE BIRD GRINNELLsaved the American bison from being hunted into extinction.

How will you make Montana history?