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Billi Irene Odegaard Fund FY2024 filing

Tax-deductible

Portland, OR501(c)(3)EducationEIN 92-0564809Revenue $18K in FY2024

On file with the IRSbilliodegaardfund.orgPo Box 16008, 97292-0008 · Portland, ORTax-exempt since Mar 2023Publicly supported charity — 170(b)(1)(A)(vi)

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To provide scholarships and academic support to eligible persons of ethnic minority status in oregon to become registered nurses or advance their nursing education.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
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 3
filings with a surplus
Average surplus $770K a year · 89% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2.2M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$18K
-95% vs prior year
Spent
$150K
To programs
96%
Net assets
$191K
By yearFY2023–FY2025
Revenue
$18K
FY2024▼ -95%
Tap a bar for its year
Revenue by fiscal year
FY2023$360K
FY2024$18K
FY2025$2.2M
Expenses
$150K
FY2024▲ +307%
Tap a bar for its year
Expenses by fiscal year
FY2023$37K
FY2024$150K
FY2025$93K
Net assets
$191K
FY2024▼ -41%
Tap a bar for its year
Net assets by fiscal year
FY2023$323K
FY2024$191K
FY2025$2.4M

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 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 Mar 2023.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $144K Management & general 3% · $5K Fundraising 1% · $2K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Paul Cosgrove
Secretary
$0Pt VII · Sec A
Leanne Fernald
Board Member
$0Pt VII · Sec A
Mary Lou Hennrich
Board Member
$0Pt VII · Sec A
Violet Larry
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Ken Van Osdol
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Billi Irene Odegaard Fund 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

Offers scholarships and academic help for ethnic minorities pursuing nursing careers in Oregon.

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Provided by the organization

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1 program · $144K · in their own filed words · FY2024
01

The goal of the billi I. Odegaard fund is to increase the supply of ethnic minority nurses to care for ethnic minority communities in oregon. To that end, we provide scholarships and academic support to eligible persons of ethnic minority status in oregon to become registered nurses or advance their nursing education.

$144Kprogram 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
Careoregon INCFY2024$2.2M
Total grants receivedfrom 1 funder$2.2M
Grants paid · 3 grants · $227K · 2023–2025
Unitemized GrantFY2025$68,439
Unitemized GrantFY2024$135,778
Unitemized GrantFY2023$22,404

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$18K
Ln 12
Gifts and grantsLn 1h$16K
Investment incomeLn 3$3K
Money outPt IX
$150K
Ln 25
Programscol B$144K
Managementcol C$5K
Fundraisingcol D$2K
Owns and owesPt X
$191K
net assets · Ln 32
Cash and savingsLn 1–2$191K
Total assetsLn 16$191K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Noncash giftsLn 1g$3K
Investment incomeLn 3$3K
Total revenueLn 12$18K
Assets in detailPt X, end of year
CashLn 1−$17K
SavingsLn 2$208K
Cash and savings togetherLn 1–2$191K
Total assetsLn 16$191K
LiabilitiesLn 26$0
Net assetsLn 32$191K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$323K$191K
Total assetsLn 16$323K$191K
LiabilitiesLn 26$0$0
Net assetsLn 32$323K$191K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$136K$136K
Legal feesLn 11b$503$503
Accounting feesLn 11c$2K$2K
Professional fundraising feesLn 11e$2K$2K
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$59$59
Information technologyLn 14$2K$2K
InsuranceLn 23$772$772
Other expenses (24a–d)Ln 24$266$266
Total functional expensesLn 25$150K$144K$5K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$93K$2.1M$2.4M 990 PDF
FY2024 Viewing $18K$150K−$132K$191K 990 PDF
FY2023 $360K$37K$323K$323K 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 FY2024 990 (6 parts)
Part I · Summary $18,047 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $359,961$15,545
I-9 Program service revenue$0
I-10 Investment incomePrior year $107$2,502
I-11 Other revenue$0
I-12 Total revenuePrior year $360,068$18,047
I-13 Grants and similar amounts paidPrior year $22,404$135,778
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$1,609
I-17 Other expensesPrior year $14,454$12,686
I-18 Total expensesPrior year $36,858$150,073
I-19 Revenue less expensesPrior year $323,210−$132,026
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $18,047 across 5 lines filed
VIII-1f All other contributions, gifts and grants$15,545
VIII-1g Noncash contributions (included above)$2,704
VIII-1h Total contributions, gifts and grants$15,545
VIII-3 Investment incomeExcluded from tax $2,502$2,502
VIII-12 Total revenueExcluded from tax $2,502$18,047
Part IX · Statement of functional expenses $150,073 across 10 lines filed
IX-2 Grants to domestic individualsPrograms $135,778$135,778
IX-11b Legal feesManagement $503$503
IX-11c Accounting feesManagement $1,571$1,571
IX-11e Professional fundraising feesFundraising $1,609$1,609
IX-11g Other fees for servicesPrograms $1,107$1,107
IX-12 Advertising and promotionPrograms $6,664$6,664
IX-13 Office expensesManagement $59$59
IX-14 Information technologyManagement $1,744$1,744
IX-23 InsuranceManagement $772$772
IX-24 Other expenses (24a–d)Management $266$266
IX-25 Total functional expensesPrograms $143,549 · Management $4,915 · Fundraising $1,609$150,073
Part X · Balance sheet $191,184 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $73,016−$16,512
X-2 Savings and temporary cash investmentsStart of year $250,194$207,696
X-16 Total assetsStart of year $323,210$191,184
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $323,210$191,184
X-32 Total net assets or fund balancesStart of year $323,210$191,184
X-33 Total liabilities and net assetsStart of year $323,210$191,184
Part XI · Reconciliation of net assets $191,184 net assets at year end
XI-1 Total revenue$18,047
XI-2 Total expenses$150,073
XI-3 Revenue less expenses−$132,026
XI-4 Net assets at start of year$323,210
XI-10 Net assets at end of year$191,184

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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