Oregon Tech Foundation INC FY2020 filing

Tax-deductible

Klamath Falls, OR501(c)(3)Since 1969Colleges & UniversitiesEIN 23-7056213Revenue $2.6M in FY2020

On file with the IRSoit.edu/foundation3201 Campus Dr, 97601-8801 · Klamath Falls, ORTax-exempt since Oct 1972Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Oregon Tech Foundation is to promote educational, cultural, charitable, and service functions of the Oregon institute of technology.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $2.0M a year · 43% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
15
named funders · $665K
Looks good: 15 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.5M
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
Spent
$2.8M
To programs
86%
Net assets
$29.7M
By yearFY2020–FY2024
Revenue
$2.6M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.6M
FY2021$3.3M
FY2022$6.7M
FY2023$6.4M
FY2024$4.7M
FY2024$8.1M
Expenses
$2.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$1.6M
FY2022$2.0M
FY2023$3.7M
FY2024$3.5M
FY2024$3.4M
Net assets
$29.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$29.7M
FY2021$38.1M
FY2022$36.1M
FY2023$38.2M
FY2024$42.3M
FY2024$49.7M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1972.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $2.4M Management & general 13% · $360K Fundraising 1% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

22 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Oregon Tech Foundation 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 15aNo

Programs and updates

Supports educational, cultural, charitable, and service functions for Oregon Institute of Technology.

Provided by the organization

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3 programs · $2.2M · in their own filed words · FY2019
01

To provide scholarships to students of oregon institute of technology. Students received scholarships based on merit, need and other factors.

$924Kprogram expense
02

Academics, athletics and student activities

$883Kprogram expense
03

Other program services

$377Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 15 funders →
Grants paid · 6 grants · $6.1M · 2019–2024
Unitemized GrantFY2024$1,156,420
Unitemized GrantFY2023$1,251,927
Unitemized GrantFY2022$1,081,950
Unitemized GrantFY2021$850,068
Unitemized GrantFY2020$869,499
Unitemized GrantFY2019$924,201

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.6M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$1.2M
Other incomeLn 4–11$73K
Money outPt IX
$2.8M
Ln 25
Programscol B$2.4M
Managementcol C$360K
Fundraisingcol D$24K
Owns and owesPt X
$29.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$31.2M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
22
listed · VII A
PaidVII A0
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$27K
Fundraising eventsLn 1c$61K
Fees for servicesLn 2g$8K
Investment incomeLn 3$1.2M
Other incomeLn 4–11$73K
Gains on assetsLn 7$344K
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$26.5M
Land, buildings, equipmentLn 10c$205K
Other assetsLn 15$188K
Total assetsLn 16$31.2M
LiabilitiesLn 26$1.5M
Net assetsLn 32$29.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6230
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 FY20End FY20
Cash and savingsLn 1–2$1.6M$1.4M
InvestmentsLn 11–13$28.8M$26.5M
Land, buildings, equipmentLn 10c$205K$205K
Total assetsLn 16$32.3M$31.2M
LiabilitiesLn 26$1.6M$1.5M
Net assetsLn 32$30.6M$29.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$924K$924K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$327K$106K$221K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$24K$24K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$49K$49K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$14K$14K
Information technologyLn 14$31K$31K
RoyaltiesLn 15$0
OccupancyLn 16$17K$17K
TravelLn 17$11K$11K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$6K$2K$4K
Other expenses (24a–d)Ln 24$1.3M$1.3M
All other expensesLn 24e$54K$30K$24K
Total functional expensesLn 25$2.8M$2.4M$360K$24K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $4.7M$3.5M$1.2M$42.3M 990 PDF
FY2023 $6.4M$3.7M$2.8M$38.2M 990 PDF
FY2022 $6.7M$2.0M$4.7M$36.1M 990 PDF
FY2021 $3.3M$1.6M$1.6M$38.1M 990 PDF
FY2020 Viewing $2.6M$2.8M−$179K$29.7M 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 FY2020 990 (6 parts)
Part I · Summary $2,630,032 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,309,388$1,345,462
I-9 Program service revenuePrior year $15,808$7,938
I-10 Investment incomePrior year $1,003,500$1,203,948
I-11 Other revenuePrior year −$51,670$72,684
I-12 Total revenuePrior year $5,277,026$2,630,032
I-13 Grants and similar amounts paidPrior year $784,039$924,201
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $324,001$326,710
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,730,047$1,558,150
I-18 Total expensesPrior year $4,838,087$2,809,061
I-19 Revenue less expensesPrior year $438,939−$179,029
Part VI · Governance 22 of 22 board members independent, 1 to look at
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $2,630,032 across 12 lines filed
VIII-1c Fundraising events$60,991
VIII-1f All other contributions, gifts and grants$1,284,471
VIII-1g Noncash contributions (included above)$27,008
VIII-1h Total contributions, gifts and grants$1,345,462
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $7,938$7,938
VIII-3 Investment incomeRelated to mission $842,649 · Excluded from tax $17,460$860,109
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $343,839$343,839
VIII-8 Net income from fundraising eventsExcluded from tax $169$169
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $72,515$72,515
VIII-12 Total revenueRelated to mission $1,186,488 · Unrelated business $72,515 · Excluded from tax $25,567$2,630,032
Part IX · Statement of functional expenses $2,809,061 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $924,201$924,201
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $106,165 · Management $220,545$326,710
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $2,718$2,718
IX-11c Accounting feesManagement $24,200$24,200
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesPrograms $49,386$49,386
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $5,603$5,603
IX-13 Office expensesManagement $14,022$14,022
IX-14 Information technologyManagement $31,097$31,097
IX-15 Royalties$0
IX-16 OccupancyManagement $17,388$17,388
IX-17 TravelManagement $10,995$10,995
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $2,226 · Management $3,620$5,846
IX-24 Other expenses (24a–d)Programs $1,342,797$1,342,797
IX-24e All other expensesManagement $30,182 · Fundraising $23,916$54,098
IX-25 Total functional expensesPrograms $2,424,775 · Management $360,370 · Fundraising $23,916$2,809,061
Part X · Balance sheet $31,173,364 assets, 21 lines filed
Asset lines not itemized here account for $1,456,548; see the IRS return.
X-1 Cash, non-interest-bearing$1,869
X-2 Savings and temporary cash investmentsStart of year $1,569,444$1,446,890
X-3 Pledges and grants receivableStart of year $1,501,069$1,301,216
X-4 Accounts receivableStart of year $18,102$80
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $8,252$34,668
X-10c Land, buildings and equipment, netStart of year $205,000$205,000
X-11 Publicly traded securitiesStart of year $25,740,969$23,112,434
X-12 Other securitiesStart of year $3,081,169$3,427,021
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $164,471$187,638
X-16 Total assetsStart of year $32,288,476$31,173,364
X-17 Accounts payable and accrued expensesStart of year $613,424$232,043
X-24 Unsecured notes and loans payable$100,670
X-25 Other liabilitiesStart of year $79,646$83,113
X-26 Total liabilitiesStart of year $1,646,849$1,499,883
X-27 Net assets without donor restrictionsStart of year $10,631,102$10,469,846
X-28 Net assets with donor restrictionsStart of year $20,010,525$19,203,635
X-32 Total net assets or fund balancesStart of year $30,641,627$29,673,481
X-33 Total liabilities and net assetsStart of year $32,288,476$31,173,364
Part XI · Reconciliation of net assets $29,673,481 net assets at year end
XI-1 Total revenue$2,630,032
XI-2 Total expenses$2,809,061
XI-3 Revenue less expenses−$179,029
XI-4 Net assets at start of year$30,641,627
XI-5 Net unrealized gains (losses) on investments−$720,989
XI-9 Other changes in net assets−$68,128
XI-10 Net assets at end of year$29,673,481

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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