Oregon Tech Foundation Inc

“Collections of artwork, furniture, maps, books, photos and papers from the land of the lakes region, the modoc war, and the west which are used for scholarly research.”

“A not-for-profit organization contributed funds to the foundation for the purpose of holding and distributing those funds to the intended beneficiaries, or for later transfer to another qualified organization.”

“The foundation is a not-for-profit organization which is exempt from income taxes under section 501(c)(3) of the internal revenue code. The foundation is required to pay income taxes on its unrelated business income received from partnership interests and affinity program royalties. The foundation accounts for income taxes under the asset and liability method. Under this method, deferred income taxes are established for the differences between the financial reporting basis and income tax basis of assets and liabilities, as well as operating loss and tax credit carry-forwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities in tax rates is recognized in income in the period that includes the enactment date. The foundation's federal organizations business income tax returns (form 990-t) for 2023, 2022 and 2021, are subject to examination by the irs, generally for three years after they are filed. The foundation's partnership interest is unrelated business income and is therefore subject to federal and state income taxes. The provisions for income taxes consisted of the following components at june 30, 2024: current income tax expense: $150. The federal tax rate for the foundation beginning january 1, 2018 is a flat rate of 21% of taxable income. Prior years had an effective tax rate that ranged from 15% to 38% of taxable income. The foundation's oregon tax rates are 6.6% of oregon taxable income up to $1,000,000 plus 7.6% of the oregon taxable income over $1,000,000 with a minimum of $150. The foundation's california tax rate is 21% of california taxable income effective january 1, 2018. The annual registration renewal fee to the attorney general of california is $150 per year. At june 30, 2024, and 2023, the foundation had available net operating loss carry-forwards of $727,771 and $1,267,502 respectively, from unrelated business income subject to income tax. The net operating losses will expire in various years from june 30, 2024 through june 30, 2038.”

“Direct event expenses in-kind donations partnership distributions”

“Interest income from pship k-1 partnership s1231 gain partnership income rounding to financial statements”

“Event expenses in-kind donations”

“Rounding to financial statements partnership expenses”