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First Interstate Bancsystem Foundation Inc

Annual Giving
$4.8M
Grant Range
$1K - $0.1M

Quick Stats

  • Annual Giving: $4.8M (2024), $9.2M including bank contributions (2023)
  • Success Rate: Not publicly available
  • Decision Time: Rolling review, timeline not specified
  • Grant Range: $1,000 - $111,000 (median $1,000)
  • Geographic Focus: 14 states where First Interstate Bank operates

Contact Details

Website: https://www.firstinterstatebank.com/company/commitment/grants
Phone: 406-255-5393
Email: Foundation@fib.com
Mailing Address: PO Box 7113, Billings, MT

Overview

First Interstate BancSystem Foundation Inc, established as a private foundation with EIN 81-0465899, manages assets of approximately $23 million and distributed $4.8 million in grants during 2024 through 758 awards. The foundation's mission is to assist First Interstate Bank in being the premier corporate citizen in the communities they serve. Operating across 14 states (Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, North Dakota, Nebraska, Oregon, South Dakota, Washington, and Wyoming), the foundation focuses heavily on supporting low- and moderate-income communities, with 57% of 2023 funding directed toward poverty alleviation initiatives.

Funding Priorities

Grant Programs

  • Believe in Local Program: $25,000 grants (40 awards totaling $1 million annually) - employee-nominated grants for nonprofits throughout their footprint
  • General Community Grants: $1,000 - $111,000 - recommended by local bank branches (rolling basis)
  • Employee Gift Matching Program: Matches charitable contributions from First Interstate Bank employees

Priority Areas

  • Affordable housing for low and moderate income individuals
  • Services targeting low and moderate income populations
  • Activities that revitalize or stabilize low and moderate income geographies
  • Economic development and workforce development
  • Arts and culture
  • K-12 and higher education
  • Health services
  • Human services and basic emergency aid
  • Food security and hunger relief
  • Leadership development
  • Community development and civic engagement

What They Don't Fund

  • Sectarian or religious organizations whose services are limited to members of any one religious group
  • Projects which clearly represent a duplication of effort
  • Projects that imply restriction of services based on sex, race, age, and religious affiliation
  • Endowments

Governance and Leadership

The foundation operates under the leadership of First Interstate BancSystem, Inc. James A. Reuter was appointed as President and CEO of First Interstate BancSystem, Inc. in November 2024, replacing Kevin P. Riley. Reuter stated, "It's an honor to be joining an organization that prioritizes showing up for the communities it serves."

Application Process & Timeline

How to Apply

  1. Initial Contact: Send a Letter of Inquiry to your local First Interstate Bank Community Giving Representative
  2. Branch Recommendation Required: The Foundation only grants to organizations recommended by local First Interstate Bank branches
  3. Invitation to Apply: If interested, the bank branch will invite grant seekers to submit a full grant application
  4. Important: Unsolicited grant applications will be referred to branches

Decision Timeline

  • Applications reviewed on a rolling basis
  • Specific decision timeframes not publicly available
  • No specified notification timeline

Success Rates

Application success rates and total number of applications received are not publicly disclosed.

Reapplication Policy

Reapplication policy for unsuccessful applicants not publicly specified. Contact local branch representative for clarification.

Application Success Factors

The foundation evaluates grant requests based on:

  • Organization's background and track record
  • Community impact and benefit
  • Leadership quality and organizational strength
  • Financial health and stability
  • Alignment with bank's philanthropic priorities, particularly support for low- to moderate-income populations
  • Local branch recommendation - Critical factor as all grants must be recommended by local First Interstate Bank branches
  • Geographic relevance - Projects must have significant impact within communities First Interstate Bank serves

For the Believe in Local program specifically, a committee of employees vets nominations to ensure alignment with the Bank's philanthropic priorities, with over 615 submissions competing for 40 awards.

Key Takeaways for Grant Writers

  • Branch relationship is essential - Build a relationship with your local First Interstate Bank branch before applying, as all grants require branch recommendation
  • Focus on low/moderate income impact - 57% of foundation dollars target poverty alleviation, making this a key priority to emphasize
  • Employee connections matter - For the $25,000 Believe in Local grants, having an employee champion who can nominate your organization is crucial
  • Geographic alignment required - Ensure your project has significant impact in one or more of the 14 states where First Interstate operates
  • Letter of Inquiry first - Don't send full applications unsolicited; start with a compelling Letter of Inquiry to your local branch
  • Rolling deadlines provide flexibility - With continuous review, organizations can apply when ready rather than waiting for annual cycles
  • Demonstrate financial stability - The foundation explicitly evaluates financial health as part of their review criteria

References

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