Civic Intelligence

Oregon Tech Foundation Inc.

990 • Fiscal year 2021 • EIN 23-7056213

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 29, 2021

Organization ProfileWWW.OIT.EDU/FOUNDATION
3201 Campus DrKlamath Falls, OR 97601

(541) 885-1130

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

24th percentile

0.04x

Higher debt load relative to assets than 24% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

63rd percentile

0.45x

Higher debt load relative to revenue than 63% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

86th percentile

50%

Higher net margin than 86% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

81st percentile

27%

Faster asset growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

65th percentile

24%

Faster revenue growth than 65% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$39,593,421

Up $8,420,057 (+27%) from 2020

Net Assets

Up

$38,137,798

Up $8,464,317 (+29%) from 2020

Liabilities

Down

$1,455,623

Down $44,260 (-3.0%) from 2020

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin86th percentile

Revenue

Up

$3,262,888

Up $632,856 (+24%) from 2020

Expenses

Down

$1,630,016

Down $1,179,045 (-42%) from 2020

Net Income

Up

$1,632,872

Up $1,811,901 (+1012%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2018: $31,198,076Liabilities 2018: $1,286,468Net Assets 2018: $29,911,6082018Assets 2019: $32,288,476Liabilities 2019: $1,646,849Net Assets 2019: $30,641,6272019Assets 2020: $31,173,364Liabilities 2020: $1,499,883Net Assets 2020: $29,673,4812020Assets 2021: $39,593,421Liabilities 2021: $1,455,623Net Assets 2021: $38,137,7982021Assets 2022: $37,959,600Liabilities 2022: $1,829,355Net Assets 2022: $36,130,2452022Assets 2023: $41,590,298Liabilities 2023: $3,396,154Net Assets 2023: $38,194,1442023Assets 2024: $45,088,238Liabilities 2024: $2,811,832Net Assets 2024: $42,276,4062024

Highlighted filing

2021

Assets$39,593,421
Liabilities$1,455,623
Net Assets$38,137,798
Open 2021 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $5,696,902Expenses 2018: $1,837,542Net Income 2018: $3,859,3602018Revenue 2019: $5,277,026Expenses 2019: $4,838,087Net Income 2019: $438,9392019Revenue 2020: $2,630,032Expenses 2020: $2,809,061Net Income 2020: -$179,0292020Revenue 2021: $3,262,888Expenses 2021: $1,630,016Net Income 2021: $1,632,8722021Revenue 2022: $6,676,501Expenses 2022: $1,995,746Net Income 2022: $4,680,7552022Revenue 2023: $6,429,423Expenses 2023: $3,679,015Net Income 2023: $2,750,4082023Revenue 2024: $4,695,280Expenses 2024: $3,475,550Net Income 2024: $1,219,7302024

Highlighted filing

2021

Revenue$3,262,888
Expenses$1,630,016
Net Income$1,632,872
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 29, 2021
Return Version
2020v4.0
Gross Receipts
$3,907,454
Mission and Program Overview

Mission

The mission of the oregon tech foundation is to promote educational, cultural, charitable, and service functions of the oregon institute of technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$23,112,434$29,589,107▲ $6,476,673
Investments Other Securities$3,427,021$4,965,623▲ $1,538,602
Savings and Temporary Cash Investments$1,446,890$2,819,133▲ $1,372,243
Pledges and Grants Receivable$1,301,216$1,632,124▲ $330,908
Other Notes and Loans Receivable, Net$1,456,548$0▼ $1,456,548
Land, Buildings, and Equipment, Net$205,000$205,000→ $0
Accounts Receivable$80$164,346▲ $164,266
Prepaid Expenses and Deferred Charges$34,668$56,236▲ $21,568
Cash and Non-Interest-Bearing Accounts$1,869$1,000▼ $869
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$31,173,364$39,593,421▲ $8,420,057
Other Assets Total$187,638$160,852▼ $26,786
Liabilities
Escrow Account Liability$1,084,057$1,221,248▲ $137,191
Accounts Payable and Accrued Expenses$232,043$209,965▼ $22,078
Unsecured Notes Loans Payable$100,670--
Other Liabilities$83,113$24,410▼ $58,703
Total Liabilities$1,499,883$1,455,623▼ $44,260
Net Assets / Fund Balance
Net Assets With Donor Restrictions$19,203,635$24,098,574▲ $4,894,939
Net Assets Without Donor Restrictions$10,469,846$14,039,224▲ $3,569,378
Total Net Assets Fund Balance$29,673,481$38,137,798▲ $8,464,317
Total Liabilities and Net Assets / Fund Balance$31,173,364$39,593,421▲ $8,420,057

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$170,000-$170,000
Land$35,000-$35,000
Closely Held Equity Interests$1,116,500--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$22,009,935$543,307▲ $6,087,572$761,210$27,879,604
2019$22,454,711$243,319▲ $7,827$695,922$22,009,935
2018$21,140,356$743,331▲ $975,103$404,079$22,454,711
2017$20,376,920$386,943▲ $1,065,724$689,231$21,140,356
2016$17,752,750$1,614,739▲ $1,956,470$947,039$20,376,920
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Diedra ThompsonPast President
Alan PolaskiPresident
John DavisVice President
Alan ParksDirector
Ann CavanaughDirector
Bill DewittDirector
Darrel SamuelsDirector
Don JohnsonDirector
Donald a BoydDirector
Doug PrattDirector
Gerald J FreschiDirector
James DehoogDirector
James MonroeDirector
Jim HackettDirector
KEVIN FERRASCI O'MALLEYDirector
Rick WhitlockDirector
Robert NeathamerDirector
Sally JonesDirector
Sarah DammenDirector
Steven HydeDirector
Tim QuincyDirector
Ken FincherExecutive Director
Jim BlairSecretary
Don YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,081,214
Program Service Revenue
$16,491
Investment Income
$1,065,523
Other Revenue
$99,660
All Other Contributions
$2,081,214
Change in Net Assets
$1,632,872

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,103,849
Revenue Not Reported on Financial Statements
$159,039
Revenue Not Reported on Form 990
$7,171,134
Other Revenue Adjustments
$108,324
Total Revenue per Audited Statements
$10,274,983
Total Revenue per Form 990
$3,262,888
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$869,499
Other Expenses$465,590
Salaries, Compensation, and Employee Benefits$294,927
Total Fundraising Expense$17,861
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$869,499--$869,499
Other Salaries and Wages$100,093$176,973$17,861$294,927
Fees for Service Investment Mgmnt Fees$50,715--$50,715
Information Technology-$31,549-$31,549
Fees for Services Accounting-$28,594-$28,594
Occupancy-$17,808-$17,808
Office Expenses-$17,067-$17,067
Other Expenses$23,703$11,299-$11,299
All Other Expenses-$8,220-$8,220
Fees for Services Legal-$7,595-$7,595
Insurance$2,769$4,698-$7,467
Travel-$7,407-$7,407
Advertising-$4,921-$4,921
Total Functional Expenses$1,296,024$316,131$17,861$1,630,016

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,810,666
Total Expenses per Form 990$1,630,016
Expenses per Audited Statements$1,579,301
Expenses Not Reported on Form 990$231,365
Expenses Not Reported on Financial Statements$50,715
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaProgram-related Investments-00$0
Central America & CaribbeanProgram-related Investments-00$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$894
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability for Split Interest Agreement$24,410
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The 990 return is reviewed by the accounting manager, executive director, and treasurer.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annually provides the conflict of interest policy and certification, reviewed by the executive director, as well as practicing abstentions during voting.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes it governing documents and financial statements available at its business office located at 3201 campus drive by request.”

Filing and Contact Details

Filer

Filer Name
Oregon Tech Foundation Inc
EIN
23-7056213
Phone
5418851130
Address
3201 CAMPUS DR, KLAMATH FALLS, OR 97601

Signing Officer

Name
Krista Darrah
Title
Operations Manager
Signed
2021-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Polaski
Formed
1969
Legal Domicile
Or
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
194

Preparer

Firm
Kdp Certified Public Accountants Llp
Address
841 OHARE PKWY STE 200, MEDFORD, OR 97504
Preparer
Susan E Strange CPA
Phone
5417736633
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4: other program services”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Change in reserve for uncollectible pledges = -$13212”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership 1231 gain = -$55856”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Partnership distribution = $303622”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership income = -$44698”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership interest = -$7770”

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

“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.”

Part IV, Line 2B: Explanation of escrow account liability

“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.”

Part X : FIN48 Footnote

“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 the same 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 exempt organizations business income tax returns (form 990t) for 2019, 2018 and 2017 are subject to examination by the irs, generally for three years after they are filed.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Partnership distribution $303622 direct event expenses $894 reclassified income $84622”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Interest income from pship k-1 $7770 partnership s1231 gain $55856 partnership income $44698”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Change in reserve for uncoll pledges $13212 event expenses $894 reclassified income $84622”

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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,593,421
Liabilities
$1,455,623
Net assets
$38,137,798
Revenue
$3,262,888
Expenses
$1,630,016
Net income
$1,632,872
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$45.1$2.81$42.3$4.70$3.48$1.22
2023Detailed filing. Detailed filing data is available for this year.$41.6$3.40$38.2$6.43$3.68$2.75
2022Detailed filing. Detailed filing data is available for this year.$38.0$1.83$36.1$6.68$2.00$4.68
2021Detailed filing. Detailed filing data is available for this year.$39.6$1.46$38.1$3.26$1.63$1.63
2020Detailed filing. Detailed filing data is available for this year.$31.2$1.50$29.7$2.63$2.81$0.18
2019Detailed filing. Detailed filing data is available for this year.$32.3$1.65$30.6$5.28$4.84$0.44
2018Detailed filing. Detailed filing data is available for this year.$31.2$1.29$29.9$5.70$1.84$3.86