Civic Intelligence

Oregon Tech Foundation Inc.

990 • Fiscal year 2020 • EIN 23-7056213

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 10, 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

23rd percentile

0.05x

Higher debt load relative to assets than 23% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

63rd percentile

0.57x

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

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

20th percentile

-6.8%

Higher net margin than 20% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

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

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

14th percentile

-3.5%

Faster asset growth than 14% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

6th percentile

-50%

Faster revenue growth than 6% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$31,173,364

Down $1,115,112 (-3.5%) from 2019

Net Assets

Down

$29,673,481

Down $968,146 (-3.2%) from 2019

Liabilities

Down

$1,499,883

Down $146,966 (-8.9%) from 2019

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin20th percentile

Revenue

Down

$2,630,032

Down $2,646,994 (-50%) from 2019

Expenses

Down

$2,809,061

Down $2,029,026 (-42%) from 2019

Net Income

Down

-$179,029

Down $617,968 (-141%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2020

Assets$31,173,364
Liabilities$1,499,883
Net Assets$29,673,481
Open 2020 Filing

Operations Trend

Revenue Growth6th 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

2020

Revenue$2,630,032
Expenses$2,809,061
Net Income-$179,029
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 10, 2021
Return Version
2019v5.0
Gross Receipts
$6,350,769
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$25,740,969$23,112,434▼ $2,628,535
Investments Other Securities$3,081,169$3,427,021▲ $345,852
Other Notes and Loans Receivable, Net-$1,456,548-
Savings and Temporary Cash Investments$1,569,444$1,446,890▼ $122,554
Pledges and Grants Receivable$1,501,069$1,301,216▼ $199,853
Land, Buildings, and Equipment, Net$205,000$205,000→ $0
Prepaid Expenses and Deferred Charges$8,252$34,668▲ $26,416
Cash and Non-Interest-Bearing Accounts-$1,869-
Accounts Receivable$18,102$80▼ $18,022
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$32,288,476$31,173,364▼ $1,115,112
Other Assets Total$164,471$187,638▲ $23,167
Liabilities
Escrow Account Liability$953,779$1,084,057▲ $130,278
Accounts Payable and Accrued Expenses$613,424$232,043▼ $381,381
Unsecured Notes Loans Payable-$100,670-
Other Liabilities$79,646$83,113▲ $3,467
Total Liabilities$1,646,849$1,499,883▼ $146,966
Net Assets / Fund Balance
Net Assets With Donor Restrictions$20,010,525$19,203,635▼ $806,890
Net Assets Without Donor Restrictions$10,631,102$10,469,846▼ $161,256
Total Net Assets Fund Balance$30,641,627$29,673,481▼ $968,146
Total Liabilities and Net Assets / Fund Balance$32,288,476$31,173,364▼ $1,115,112

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
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
2015$18,456,189$595,443▼ $848,360$669,494$17,533,778
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Diedra ThompsonPresident
Alan PolaskiVice President
Ann CavanaughDirector
Bill DewittDirector
Darrel SamuelsDirector
Don JohnsonDirector
Donald a BoydDirector
Doug PrattDirector
Gerald J FreschiDirector
James DehoogDirector
James MonroeDirector
John DavisDirector
KEVIN FERRASCI O'MALLEYDirector
Rick WhitlockDirector
Robert NeathamerDirector
Sally JonesDirector
Sarah DammenDirector
Steven HydeDirector
Tim QuincyDirector
Trevor MauchDirector
Jim BlairSecretary
Don YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,345,462
Program Service Revenue
$7,938
Investment Income
$1,203,948
Other Revenue
$72,684
All Other Contributions
$1,284,471
Change in Net Assets
$-179,029

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table74$27,008Fair Market Value (FMV)
Total Noncash Contributions74$27,008-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,490,671
Revenue Not Reported on Financial Statements
$139,361
Revenue Not Reported on Form 990
$-530,567
Other Revenue Adjustments
$89,975
Total Revenue per Audited Statements
$1,960,104
Total Revenue per Form 990
$2,630,032
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,558,150
Grants and Similar Amounts Paid$924,201
Salaries, Compensation, and Employee Benefits$326,710
Total Fundraising Expense$23,916
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$924,201--$924,201
Other Salaries and Wages$106,165$220,545-$326,710
All Other Expenses-$30,182$23,916$54,098
Fees for Service Investment Mgmnt Fees$49,386--$49,386
Other Expenses$44,000--$44,000
Information Technology-$31,097-$31,097
Fees for Services Accounting-$24,200-$24,200
Occupancy-$17,388-$17,388
Office Expenses-$14,022-$14,022
Travel-$10,995-$10,995
Insurance$2,226$3,620-$5,846
Advertising-$5,603-$5,603
Fees for Services Legal-$2,718-$2,718
Total Functional Expenses$2,424,775$360,370$23,916$2,809,061

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,928,250
Total Expenses per Form 990$2,809,061
Expenses per Audited Statements$2,759,675
Expenses Not Reported on Form 990$168,575
Expenses Not Reported on Financial Statements$49,386
International Activity

International Summary

Spending
$320,537

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$220,356
Central America & CaribbeanProgram-related Investments-00$100,181
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$24,280
Fundraising Direct Expenses$24,111
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various Smaller Events$13,494$8,580$9,917$-1,337
Blue Gold Dinner & Auction$58,559$5,000-$5,000
Total Events$85,271$24,280$24,111$169
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$83,113
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
2021-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Polaski
Formed
1969
Legal Domicile
Or
Voting Board Members
22
Independent Board Members
22
Employees
0
Volunteers
164

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 = -$4103”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership 1231 gain = -$196440”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Partnership distribution = $25950”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership interest = -$17460”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Partnership loss = $123925”

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

“Partnership distribution $25950 direct event expenses $24111”

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

“Interest income from pship k-1 $17460 partnership s1231 gain $196440 partnership loss $-123925”

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

“Change in reserve for uncoll pledges $4103 event expenses $24111”

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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,173,364
Liabilities
$1,499,883
Net assets
$29,673,481
Revenue
$2,630,032
Expenses
$2,809,061
Net income
-$179,029
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