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2828 Corbett INC

Not tax-deductible

Portland, ORMutual-benefit / member-servingMutual/MembershipEIN 20-2021524Revenue $107K in FY2025

On file with the IRS1600 Sw 4th Ave Ste 730, 97201-5519 · Portland, ORTax-exempt since Feb 2006

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The mission of the organization is to hold title to real property, collect income from such property & turn over the entire amount collected less related costs to PSU Foundation.

Mission: Form 990 Part I, line 1

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $80K a year · 28% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
40 mo
of spending, in cash
Looks good: 40.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.7M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$107K
-32% vs prior year
Spent
$343K
Net assets
$244K
By yearFY2020–FY2025
Revenue
$107K
FY2025▼ -32%
Tap a bar for its year
Revenue by fiscal year
FY2020$462K
FY2021$462K
FY2022$386K
FY2023$159K
FY2024$159K
FY2025$107K
Expenses
$343K
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$356K
FY2021$571K
FY2022$268K
FY2023$327K
FY2024$355K
FY2025$343K
Net assets
$244K
FY2025▼ -49%
Tap a bar for its year
Net assets by fiscal year
FY2020$108K
FY2021$0
FY2022$843K
FY2023$675K
FY2024$479K
FY2025$244K

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Sammi Pahlow
Vice Chair
$0Pt VII · Sec A
Jon Owens
Treasurer
$0Pt VII · Sec A
Marcia Mason
Secretary
$0Pt VII · Sec A
Tina Adams
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Ed Johnson
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See 2828 Corbett INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages property, collects rent, and gives all profits to the PSU Foundation.

Questions for 2828 Corbett INC

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Provided by the organization

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $399K · 2019–2020
Portland State University FoundationOR · FY2020$326,041
Portland State University FoundationOR · FY2019$73,265

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$107K
Ln 12
Fees for servicesLn 2g$107K
Money outPt IX
$343K
Ln 25
Owns and owesPt X
$244K
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$107K
Total revenueLn 12$107K
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.7M
Net assetsLn 32$244K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.4M$1.2M
Land, buildings, equipmentLn 10c$1.9M$1.7M
Total assetsLn 16$3.2M$2.9M
LiabilitiesLn 26$2.8M$2.7M
Net assetsLn 32$479K$244K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$50
Other fees for servicesLn 11g$27K
Office expensesLn 13$37
OccupancyLn 16$154K
Depreciation, depletion and amortizationLn 22$106K
Other expenses (24a–d)Ln 24$55K
Total functional expensesLn 25$343K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $107K$343K−$236K$244K 990 PDF
FY2024 $159K$355K−$196K$479K 990 PDF
FY2023 $159K$327K−$168K$675K 990 PDF
FY2022 $386K$268K$119K$843K 990 PDF
FY2021 $462K$571K−$108K$0 990 PDF
FY2020 $462K$356K$107K$108K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $107,343 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $159,000$107,343
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $159,000$107,343
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $354,727$342,859
I-18 Total expensesPrior year $354,727$342,859
I-19 Revenue less expensesPrior year −$195,727−$235,516
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $107,343 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $107,343$107,343
VIII-12 Total revenueRelated to mission $107,343 · Unrelated business $0 · Excluded from tax $0$107,343
Part IX · Statement of functional expenses $342,859 across 6 lines filed
IX-11b Legal fees$50
IX-11g Other fees for services$27,103
IX-13 Office expenses$37
IX-16 Occupancy$153,976
IX-22 Depreciation, depletion and amortization$106,239
IX-24 Other expenses (24a–d)$55,454
IX-25 Total functional expenses$342,859
Part X · Balance sheet $2,900,572 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,399,580$1,155,101
X-9 Prepaid expenses and deferred chargesStart of year $0$1,599
X-10c Land, buildings and equipment, netStart of year $1,850,111$1,743,872
X-16 Total assetsStart of year $3,249,691$2,900,572
X-17 Accounts payable and accrued expensesStart of year $23,572$12,572
X-19 Deferred revenueStart of year $27,843$0
X-25 Other liabilitiesStart of year $1,151,094$1,151,094
X-26 Total liabilitiesStart of year $2,770,343$2,656,740
X-27 Net assets without donor restrictionsStart of year $479,348$243,832
X-32 Total net assets or fund balancesStart of year $479,348$243,832
X-33 Total liabilities and net assetsStart of year $3,249,691$2,900,572
Part XI · Reconciliation of net assets $243,832 net assets at year end
XI-1 Total revenue$107,343
XI-2 Total expenses$342,859
XI-3 Revenue less expenses−$235,516
XI-4 Net assets at start of year$479,348
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$243,832

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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