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Montana · Nonprofit

PROPERTY AND ENVIRONMENT RESEARCH CENTER

PROPERTY AND ENVIRONMENT RESEARCH CENTER (Montana) receives grants from 74 organizations whose IRS filings report $18,700,203 to it, the largest being Donors Trust Inc ($4,809,700). 50 of them have funded it in more than one year.

Revenue FY2025
$8.0M
Funders on record
74
Grants received
$19M
Net assets
$14M
50/74 repeat funderspeak grant-dependency 90%
01What it does

What Property and Environment Research Center does

Mission

Perc is dedicated to advancing conservation through markets, incentives, property rights, and partnerships.

As stated on its FY2025 Form 990.

Programs

  1. Perc's other program services include our student program, and other relevant programmatic outputs as well as conservation communication. Perc's communications efforts include development of conservation awareness videos, placement of media commentary in leading outlets such as cbs sunday morning, the wall street journal, npr, and other leading national, regional, and local outlets, and related efforts.we also develop and publish an in-house magazine, perc reports that covers timely conservation innovations and approaches. The magazine is distributed to over 11,000 households and organizations. Interested parties may register for a free subscription at www.perc.org.

    $1,766,615 spent
    35% of program spending
  2. Research and publications - percs academic research is at the forefront of all our efforts to improve environmental outcomes. We treat research as the first stage in a multi-stage process to develop effective conservation policies and strengthen conservation practices.as a result, our solutions and initiatives are based upon rigorous research from a diverse group of scholars and practitioners. Core research areas include issues related to public land use, private land stewardship, water, and wildlife. Specific focus areas include forest management, public lands funding, private conservation, wildlife migration, water management, and endangered species recovery.a major source of research comes in the form of percs multi-day research and idea development conferences and in-house scholars. The solutions and publications these conferences generated (or will generate) infuse into both the academic debate on conservation and integrate into conservation policy and practical conservation outcomes.percs in-house research initiatives are augmented by visiting scholars from universities and conservation organizations around the world. Details about our fellowships can be found on our…

    $1,188,794 spent
    23% of program spending
  3. Law and policy outreach - the objective of perc's law and policy outreach is to disseminate to targeted audiences the ideas generated by our researchers, fellows, visiting scholars, enviropreneurs, and efforts of our conservation innovation lab. Our policy efforts include outreach at the federal level in congress and the executive branch, as well as at the state level.perc continues to expand the impact of our research finding through engaging policy makers through our law and policy center. Launched in 2022, it contributed to developing timely policy reports and publications as well as public comments and partner engagements. These resulted in invitations to present before key audiences, including congressional testimony, and filing of agency comments and amicus briefs. We also use strategic litigation to advance key efforts.key topics in policy advancement include forest management reforms to reduce catastrophic wildfire, endangered species recovery, water management and recovery of the great salt lake, funding of our national parks and public lands, migration routes, and more. Legal efforts included advancing endangered species recovery. Further details can be found on our…

    $1,169,486 spent
    23% of program spending
  4. Conservation innovation lab - launched in 2023, perc's conservation innovation lab develops and prototypes groundbreaking models to address key conservation challenges and advance new tools. In keeping with our belief that conservation should unite and not divide, partnerships are a defining pillar of the lab's ethos. By engaging groups that traditionally do not collaborate, the lab aims to find common ground and develop creative new solutions that mutually benefit stakeholders and conservation alike.projects currently underway include private disease mitigation funds in paradise valley, mt, and the cody area of wyoming. Perc also launched the nations first virtual fence conservation fund to promote conservation through this innovative new tool and expanded these efforts with additional projects, colorados first elk migration agreement, and numerous other efforts under development. The goal is to protect vital migration routes, reduce wildlife conflict, protect working landscapes, and more.

    $698,538 spent
    14% of program spending
  5. Conservation leadership and the next era of conservation is a key focus area at perc. As conservation challenges evolvefrom species recovery to water scarcity and landscape fragmentationthere is a growing need for approaches that move beyond the tools of the past. Perc is advancing high-level thinking that will help shape the ideas and policies of the futureapproaches that harness incentives, innovation, and stewardship to achieve durable conservation outcomes.this focus area convenes conservation leadersincluding practitioners, conservation leaders, policymakers, scholars, and thought leadersto exchange ideas, tackle emerging challenges, and advance the solutions that will define the next era of conservation. By bringing together diverse expertise and perspectives, perc fosters collaboration and sparks innovation to help build a new era of conservation designed to tackle the challenges of the future.

    $243,304 spent
    5% of program spending

The 5 programs described on its FY2025 Form 990, listed largest first by expense. Program spending in total: $5,066,737.

02The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

100 = 20172017 Revenue 100 ($2.6M) Expenses 100 ($2.3M) Net assets 100 ($5.2M)2018 Revenue 88 ($2.3M) Expenses 107 ($2.4M) Net assets 97 ($5.0M)2019 Revenue 114 ($3.0M) Expenses 119 ($2.7M) Net assets 102 ($5.3M)2020 Revenue 95 ($2.5M) Expenses 110 ($2.5M) Net assets 101 ($5.2M)2021 Revenue 117 ($3.0M) Expenses 123 ($2.8M) Net assets 106 ($5.5M)2022 Revenue 194 ($5.0M) Expenses 142 ($3.2M) Net assets 140 ($7.3M)2023 Revenue 229 ($5.9M) Expenses 154 ($3.5M) Net assets 187 ($9.7M)2024 Revenue 262 ($6.8M) Expenses 195 ($4.4M) Net assets 233 ($12M)2025 Revenue 308 ($8.0M) Expenses 283 ($6.4M) Net assets 263 ($14M)
'17'18'19'20'21'22'23'24'25
Revenue (308)Expenses (283)Net assets (263)Peer revenue range

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $7.4M to $10.0M (+34%).

$5.2M
$5.1M
$5.4M
$5.4M
$5.6M
$7.4M
$10.0M
$12M
$14M
'17'18'19'20'21'22'23'24'25
Total assetsTotal liabilities

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

94% of PROPERTY AND ENVIRONMENT RESEARCH CENTER’s revenue is contributions — more donation-reliant than the typical peer (88% for the typical peer).

This organization
Typical peer · 1,093 orgs

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 2 of the last 9 reported years ran a deficit.

$318k
’17
−$164k
’18
$253k
’19
−$29k
’20
$232k
’21
$1.8M
’22
$2.4M
’23
$2.4M
’24
$1.6M
’25
1.8
months of
reserve

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Chief executive

Brian Yablonski

CEO

Board chair

Loren Bough

Chair

As listed on its FY2025 Form 990.

'17'18'19'20'21'22'23'24'25
Listed171318151822212324
Joined·+2+6+0+3+4+1+4+2
No longer listed·61300221
03Who funds it

Who funds it, year by year

2017 → 2023: the base broadened from 10 funders to 39 funders, grant income rose $329k → $4.6M.

11 of 74 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 35% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

From the IRS filings of PROPERTY AND ENVIRONMENT RESEARCH CENTER’s funders (the co-funder graph). Top 30 of 74 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

PROPERTY AND ENVIRONMENT RESEARCH CENTER has a broad base — no single funder exceeds 26% of grant income, and it takes 5 funders to reach half.

the vertical line marks half of all grant income — 5 funders to its left

51% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund PROPERTY AND ENVIRONMENT RESEARCH CENTER.

26%
largest funder
42%
top three
~11
effective funders

Largest funder’s share by year: 2017 30% · 2018 23% · 2019 30% · 2020 16% · 2021 26% · 2022 17% · 2023 48% — growing more concentrated.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How long its funders stay

62% of PROPERTY AND ENVIRONMENT RESEARCH CENTER's funders are still giving 3 years after their first grant; 68% give in more than one year at all.

first grant+1y+2y+3y+4y+5y+6y

Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.

Where its funders are

PROPERTY AND ENVIRONMENT RESEARCH CENTER draws 97% of its grant income from funders outside Montana, across 24 states in all.

WA
MT
MN
IL
WI
MI
NY
NV
IN
OH
PA
NJ
CA
CO
MO
VA
MD
DE
TN
NC
SC
GA
TX
FL

In-state vs out-of-state, by year

’17
’18
’19
’20
’21
’22
’23
Montana out of state home

Funder states come from each funder’s own filing. $6.6M arriving through sponsors registered in 10 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

04Its place in the field

Against its field

PROPERTY AND ENVIRONMENT RESEARCH CENTER runs a healthier operating margin than half of the 543 public benefit nonprofits its size.

Operating margin20% · above the median
Months of reserve1.8mo · bottom quartile
Revenue growth (annualized)15% · above the median

this organization peer median middle 50% of peers· 543 public benefit nonprofits $1M–$10M, FY2025

Organizations like PROPERTY AND ENVIRONMENT RESEARCH CENTER

Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.

In Montana

Nationally

05Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

79% of spending goes to programs.

Program 79%Management 12%Fundraising 9%

Governance

14
board members
100%
independent
✓Conflict-of-interest policy✓Whistleblower policy✓Document retention✓Board reviewed the 990✓Audited financials

Public support

86%

Share of support from the public (Schedule A) — the basis for its public-charity status.

Footprint & structure

Files a return copy in 40 states

AK
ME
NH
WA
ND
MN
IL
WI
MI
NY
MA
OR
NV
OH
PA
NJ
CT
RI
CA
UT
CO
MO
KY
WV
VA
MD
NM
KS
AR
TN
NC
SC
DC
HI
OK
LA
MS
AL
GA
FL

Screen this organization

A dated, signed PDF of the compliance screen for PROPERTY AND ENVIRONMENT RESEARCH CENTER: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

A paid feature, included from the $75 plan up. Sign in to download.

Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds PROPERTY AND ENVIRONMENT RESEARCH CENTER?
PROPERTY AND ENVIRONMENT RESEARCH CENTER (Montana) receives grants from 74 organizations whose IRS filings report $18,700,203 to it, the largest being Donors Trust Inc ($4,809,700). 50 of them have funded it in more than one year.
How many funders does PROPERTY AND ENVIRONMENT RESEARCH CENTER have?
IRS filings report 74 organizations giving $18,700,203 in grants to PROPERTY AND ENVIRONMENT RESEARCH CENTER, 50 of which have funded it in more than one year.
Who is the largest funder of PROPERTY AND ENVIRONMENT RESEARCH CENTER?
Donors Trust Inc is the largest funder on record, with $4,809,700 in grants. The full list of funders is on this page.
How can an organization like PROPERTY AND ENVIRONMENT RESEARCH CENTER find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in Montana. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 74 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing