Olympic College Foundation EIN 91-1595274

Olympic College Foundation

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Helps students access, achieve, and succeed at Olympic College. For fiscal year 2025 it reported $3.7M in revenue, $1.4M in expenses, and $28.4M in net assets.Pt I

Type
Higher education institution · Foundations & Grantmakers
Location
Bremerton, WA
Website
www.olympiccollegefoundation.org
Filings
6 on file (2020–2025)
Revenue
$3.7MFY2025
Expenses
$1.4M
Net assets
$28.4M
People
21
Filings
6
Updates
0
More identity details & actions ⌄
EIN  91-1595274 Higher education institution Bremerton, WA
Form 990 (PDF)
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Figures match the IRS filing checked 8/27/26 · see original: IRS
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Size
$1–10M
What they do
Helps students access, achieve, and succeed at Olympic College.
Leadership
Jon Berglind · President
Money in and out
$3.7M revenue, $1.4M expenses
Bottom line
+63% operating surplus
Financial scale & money flow · FY2025
Total revenue
$3.7M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$28.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.3M
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.15 Fundraising $0.05
Operating surplus
+63%
revenue over expenses, this legal entity▼ -11% vs prior filing year
Program spending
81%
of expenses reach program services▲ +0.9% vs prior filing year
Gift & grant revenue
81%
of revenue from contributions & grants▲ +31% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$3.7M
FY2025▼ -14%
Expenses
$1.4M
FY2025▲ +9%
Total assets
$29.4M
FY2025▲ +18%
Total liabilities
$973K
FY2025▲ +46%
Total revenue
$3.7M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$28.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2.3M
Total assetsPt X · Ln 16$29.4M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

3 program services account for $1.3M of program spending, described in the organization's own filed words · FY2024.
01

Custodian of funds to be used for scholarship to the students of olympic college.

$753Kprogram expense
02

Support for the events and programs of olympic college and its satellite campuses.

$463Kprogram expense
03

Management of multiple endowments that provide the annual scholarships and other program funds to benefit olympic college and students.

$40Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COlympic College Foundation
EINHdr · item D91-1595274
Principal addressHdr · item CBremerton, WA
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T112)
Ruling yearIRS BMFJan 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
VP for Development
$0Pt VII · Sec A
$0Pt VII · Sec A
VP for Governance
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Olympic College Bot Liaiso
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Olympic College Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$3.0M · 81%
Investment income$634K · 17%
Other revenue$54K · 1%
Contributions & grants81%$3.0M
Investment income17%$634K
Other revenue1%$54K
Total revenueLn 12$3.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.15 Fundraising $0.05
Program services81%$1.1M
Management & general15%$199K
Fundraising5%$63K
Total functional expensesLn 25$1.4M

Balance Sheet

Part X · end of year
CashLn 1$2.1M
Total assetsLn 16$29.4M
Total liabilitiesLn 26$973K
Total net assetsLn 32$28.4M
Months of cash on handcomputed19.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $27.8M · Operating expenses/yr $1.4M
246.4 months
Where the money goes
Program services
Program services $1.1M · Total expenses $1.4M
81%
Management & General
Management & general $199K · Total expenses $1.4M
15%
Fundraising
Fundraising $63K · Total expenses $1.4M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $85K · Solicited contributions (3-yr avg) $2.1M
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.0M · Total revenue $3.7M
81%
Government reliance
Government grants — · Total revenue $3.7M
Earned-income share
Program service revenue $0 · Total revenue $3.7M
0%
Investment reliance
Investment income $634K · Total revenue $3.7M
+17%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.4M
0%
Growth & trend
Revenue growth (YoY)
This year $3.7M · Prior year $4.3M
-14%
Revenue CAGR
FY2019 $2.9M · FY2024 $3.7M
+5%
Net-asset trend (YoY)
End of year $28.4M · Beginning of year $24.1M
+18%
Balance sheet
Surplus Margin
Revenue $3.7M · Expenses $1.4M
+63%
Liabilities-to-Assets
Total liabilities $973K · Total assets $29.4M
3%
Net-asset ratio
Net assets $28.4M · Total assets $29.4M
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $25.7M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $29.4M
87%
People & payroll
Highest Reported Total Compensation
Individual Jon Berglind · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $1.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $1.4M
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 15%
Fundraising cost ratio 2%
Revenue growth -14%
Investment management fee ratio 0.4%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 20 grants · $4.8M · 2019–2024
Unitemized GrantFY2024$753,028
Olympic CollegeFY2024$307,316
Total Grants Under 5k EachFY2024$156,072
Unitemized GrantFY2023$502,290
Total Grants Under 5k EachFY2023$392,306
Olympic CollegeFY2023$238,646
Unitemized GrantFY2022$418,138
Olympic CollegeFY2022$340,936
Total Grants Under 5k EachFY2022$92,450
Kitsap Community FoundationWA · FY2022$25,000
Unitemized GrantFY2021$422,804
Unitemized GrantFY2020$235,111
Olympic CollegeFY2020$110,000
Total Grants Under 5k EachFY2020$101,626
Kitsap Community FoundationWA · FY2020$25,000
Unitemized GrantFY2019$494,948
Olympic CollegeFY2019$85,182
Kitsap Community FoundationWA · FY2019$52,500
See all 20 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$3.7M revenue · viewing · ⤓ 990 PDF
FY2024$4.3M revenue · ⤓ 990 PDF
FY2023$1.6M revenue · ⤓ 990 PDF
FY2022$1.7M revenue · ⤓ 990 PDF
FY2021$2.5M revenue · ⤓ 990 PDF
FY2020$2.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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