Montana U.S. Senate candidate Seth Bodnar appears to have a substantially higher net worth than Republican rival Kurt Alme, according to financial disclosure reports filed with the U.S. Senate.
An analysis of the candidates’ disclosures estimates Bodnar and his wife have a net worth ranging from approximately $4.9 million to $13 million, compared with roughly $1.8 million to $3.9 million for Alme and his wife.
Using the midpoint of the asset ranges reported on the federal forms, Bodnar’s estimated household net worth is approximately $9 million, more than three times Alme’s estimated midpoint of about $2.8 million.
The estimates are based on the minimum and maximum values candidates are required to report for individual assets. The disclosures do not provide exact account balances, meaning neither candidate’s precise net worth can be determined from the filings.
Bodnar’s disclosure shows a wide range of assets, including brokerage accounts, mutual funds, exchange-traded funds, retirement plans, private investments and life-insurance holdings.
Among the larger holdings are several Montana University System retirement accounts associated with Bodnar. His wife also reported a Logan Health 401(k) valued between $250,001 and $500,000 and additional retirement accounts.
The Bodnar household also reported several private investments. His wife disclosed between $250,001 and $500,000 in non-public stock in Consumer Direct Care Network, while the couple reported an investment of between $100,001 and $250,000 in Next Frontier Venture Fund III.
Bodnar’s wife also reported an interest in Tri-Creek Land Inc., described as a family ranch in Absarokee, valued between $50,001 and $100,000.
Three college-savings accounts for the couple’s children, each valued between $100,001 and $250,000, were excluded from the estimate of Bodnar and his wife’s personal net worth. Including those accounts would add between approximately $300,000 and $750,000 to the family’s disclosed assets.
Bodnar’s disclosure also lists three education loans belonging to his wife with a combined reported range of roughly $40,000 to $115,000.
Alme’s finances are more heavily concentrated in retirement accounts and broad-market investment funds.
His largest disclosed account is a Fidelity rollover IRA containing four mutual funds, each valued between $250,001 and $500,000. Taken together, those holdings represent between approximately $1 million and $2 million.
Alme also reported a State of Montana 457 retirement plan, a National Christian Foundation 401(k), a state employee defined-contribution plan and a Fidelity Roth IRA.
His wife reported retirement accounts, a brokerage account and bank deposits, while the couple also reported a joint Vanguard account valued between $50,001 and $100,000.
Unlike Bodnar, Alme reported no liabilities subject to disclosure requirements.
The filings also show differences in the candidates’ recent income disclosures. Bodnar reported receiving more than $626,000 in salary from the University of Montana, along with roughly $170,000 in deferred compensation and $10,000 for an executive-leadership appearance.
Alme’s filing reported no earned or non-investment income in the corresponding section of his disclosure, though it listed his previous position as executive vice president of planned giving for the National Christian Foundation.