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2828 Corbett INC FY2021 filing

Not tax-deductible

Portland, ORMutual-benefit / member-servingMutual/Membership EIN 20-2021524Revenue $462K in FY2021Latest return filed Apr 16, 2026

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

FY2021 · 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
21 mo
of spending, in cash
Looks good: 20.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.0M
100% of total assets
Concern: liabilities are 100% 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
$462K
0% vs prior year
Spent
$571K
Net assets
$0
By yearFY2020–FY2025
Revenue
$462K
FY20210%
Tap a bar for its year
Revenue by fiscal year
FY2020$462K
FY2021$462K
FY2022$386K
FY2023$159K
FY2024$159K
FY2025$107K
Expenses
$571K
FY2021▲ +60%
Tap a bar for its year
Expenses by fiscal year
FY2020$356K
FY2021$571K
FY2022$268K
FY2023$327K
FY2024$355K
FY2025$343K
Net assets
$0
FY2021▼ -100%
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 FY2021 Form 990 (year ending June 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Al Barkouli
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See 2828 Corbett INC executive salaries →

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

Tap to ask. 2828 Corbett INC sees how many people are interested.

Your first name shows with your question. 2828 Corbett INC answers here, for everyone.

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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$462K
Ln 12
Fees for servicesLn 2g$462K
Money outPt IX
$571K
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Cash and savingsLn 1–2$984K
Total assetsLn 16$3.0M
LiabilitiesLn 26$3.0M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$462K
Total revenueLn 12$462K
Assets in detailPt X, end of year
CashLn 1$984K
Cash and savings togetherLn 1–2$984K
Land, buildings, equipmentLn 10c$2.0M
Total assetsLn 16$3.0M
LiabilitiesLn 26$3.0M
Net assetsLn 32$0
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 FY21End FY21
Cash and savingsLn 1–2$964K$984K
Land, buildings, equipmentLn 10c$2.2M$2.0M
Total assetsLn 16$3.1M$3.0M
LiabilitiesLn 26$3.0M$3.0M
Net assetsLn 32$108K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$326K
Legal feesLn 11b$3K
Accounting feesLn 11c$5K
InterestLn 20$75K
Depreciation, depletion and amortizationLn 22$149K
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$50
Total functional expensesLn 25$571K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 16, 2026 $107K$343K−$236K$244K 990 PDF
FY2024Filed with the IRS Mar 26, 2025 $159K$355K−$196K$479K 990 PDF
FY2023Filed with the IRS Mar 19, 2024 $159K$327K−$168K$675K 990 PDF
FY2022Filed with the IRS Feb 15, 2023 $386K$268K$119K$843K 990 PDF
FY2021 ViewingFiled with the IRS Feb 3, 2022 $462K$571K−$108K$0 990 PDF
FY2020Filed with the IRS Feb 24, 2021 $462K$356K$107K$108K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $462,300 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $462,300$462,300
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $462,300$462,300
I-13 Grants and similar amounts paidPrior year $73,265$326,041
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 $282,305$244,468
I-18 Total expensesPrior year $355,570$570,509
I-19 Revenue less expensesPrior year $106,730−$108,209
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 $462,300 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $462,300$462,300
VIII-12 Total revenueRelated to mission $462,300 · Unrelated business $0 · Excluded from tax $0$462,300
Part IX · Statement of functional expenses $570,509 across 7 lines filed
IX-1 Grants to domestic organizations$326,041
IX-11b Legal fees$3,408
IX-11c Accounting fees$4,550
IX-20 Interest$75,337
IX-22 Depreciation, depletion and amortization$148,762
IX-23 Insurance$12,361
IX-24 Other expenses (24a–d)$50
IX-25 Total functional expenses$570,509
Part X · Balance sheet $3,008,247 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $964,132$984,461
X-9 Prepaid expenses and deferred charges$6,783
X-10c Land, buildings and equipment, netStart of year $2,165,766$2,017,003
X-16 Total assetsStart of year $3,129,898$3,008,247
X-17 Accounts payable and accrued expensesStart of year $5,146$4,967
X-18 Grants payable$50,089
X-19 Deferred revenueStart of year $27,843$27,843
X-24 Unsecured notes and loans payableStart of year $1,837,606$1,774,254
X-25 Other liabilitiesStart of year $1,151,094$1,151,094
X-26 Total liabilitiesStart of year $3,021,689$3,008,247
X-27 Net assets without donor restrictionsStart of year $108,209$0
X-32 Total net assets or fund balancesStart of year $108,209$0
X-33 Total liabilities and net assetsStart of year $3,129,898$3,008,247
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$462,300
XI-2 Total expenses$570,509
XI-3 Revenue less expenses−$108,209
XI-4 Net assets at start of year$108,209
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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