Civic Intelligence

Oregon Tech Foundation Inc.

990 • Fiscal year 2022 • EIN 23-7056213

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

25th percentile

0.05x

Higher debt load relative to assets than 25% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

49th percentile

0.27x

Higher debt load relative to revenue than 49% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

95th percentile

70%

Higher net margin than 95% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

35th percentile

-4.1%

Faster asset growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

105%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets25th percentile

Assets

Down

$37,959,600

Down $1,633,821 (-4.1%) from 2021

Net Assets

Down

$36,130,245

Down $2,007,553 (-5.3%) from 2021

Liabilities

Up

$1,829,355

Up $373,732 (+26%) from 2021

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin95th percentile

Revenue

Up

$6,676,501

Up $3,413,613 (+105%) from 2021

Expenses

Up

$1,995,746

Up $365,730 (+22%) from 2021

Net Income

Up

$4,680,755

Up $3,047,883 (+187%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth35th 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

2022

Assets$37,959,600
Liabilities$1,829,355
Net Assets$36,130,245
Open 2022 Filing

Operations Trend

Revenue Growth93rd 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

2022

Revenue$6,676,501
Expenses$1,995,746
Net Income$4,680,755
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$11,339,278
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$29,589,107$24,824,238▼ $4,764,869
Investments Other Securities$4,965,623$6,895,592▲ $1,929,969
Pledges and Grants Receivable$1,632,124$2,940,425▲ $1,308,301
Savings and Temporary Cash Investments$2,819,133$2,879,640▲ $60,507
Land, Buildings, and Equipment, Net$205,000$205,000→ $0
Prepaid Expenses and Deferred Charges$56,236$52,589▼ $3,647
Accounts Receivable$164,346$3,975▼ $160,371
Cash and Non-Interest-Bearing Accounts$1,000$1,240▲ $240
Other Notes and Loans Receivable, Net-$0-
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$39,593,421$37,959,600▼ $1,633,821
Other Assets Total$160,852$156,901▼ $3,951
Liabilities
Escrow Account Liability$1,221,248$1,137,279▼ $83,969
Other Liabilities$24,410$511,528▲ $487,118
Accounts Payable and Accrued Expenses$209,965$180,548▼ $29,417
Total Liabilities$1,455,623$1,829,355▲ $373,732
Net Assets / Fund Balance
Net Assets With Donor Restrictions$24,098,574$24,083,025▼ $15,549
Net Assets Without Donor Restrictions$14,039,224$12,047,220▼ $1,992,004
Total Net Assets Fund Balance$38,137,798$36,130,245▼ $2,007,553
Total Liabilities and Net Assets / Fund Balance$39,593,421$37,959,600▼ $1,633,821

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
2021$27,879,604$616,027▼ $3,893,574$755,662$23,846,395
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
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Alan PolaskiPresident
KEVIN FERRASCI O'MALLEYVice President
Alan ParksDirector
Ann CavanaughDirector
Bill DewittDirector
Darrel SamuelsDirector
Diedra ThompsonDirector
Don JohnsonDirector
Donald a BoydDirector
Doug PrattDirector
Dr Jon EkstromDirector
Gerald FreschiDirector
James DehoogDirector
James MonroeDirector
Jim HackettDirector
Parke BlundonDirector
Rick WhitlockDirector
Robert KingzettDirector
Robert NeathamerDirector
Sarah DammenDirector
Steven HydeDirector
Tim QuincyDirector
Jim BlairSecretary
Don YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,173,585
Program Service Revenue
$18,871
Investment Income
$1,511,398
Other Revenue
$972,647
All Other Contributions
$4,143,705
Change in Net Assets
$4,680,755

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
Securities Publicly Traded3$509,956Fair Market Value (FMV)
Total Noncash Contributions3$509,956-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,637,203
Revenue Not Reported on Financial Statements
$1,039,298
Revenue Not Reported on Form 990
$-5,516,877
Other Revenue Adjustments
$986,586
Total Revenue per Audited Statements
$120,326
Total Revenue per Form 990
$6,676,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$850,068
Other Expenses$820,400
Salaries, Compensation, and Employee Benefits$325,278
Total Fundraising Expense$19,998
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$850,068--$850,068
Other Salaries and Wages$112,037$193,243$19,998$325,278
Fees for Service Investment Mgmnt Fees$52,712--$52,712
Travel-$39,575-$39,575
Information Technology-$37,077-$37,077
Fees for Services Accounting-$27,000-$27,000
All Other Expenses-$21,841-$21,841
Office Expenses-$21,417-$21,417
Other Expenses$48,057$19,204-$19,204
Occupancy-$19,122-$19,122
Insurance$4,420$5,029-$9,449
Advertising-$2,012-$2,012
Fees for Services Legal-$1,078-$1,078
Total Functional Expenses$1,589,150$386,598$19,998$1,995,746

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,127,879
Total Expenses per Form 990$1,995,746
Expenses per Audited Statements$1,943,034
Expenses Not Reported on Form 990$184,845
Expenses Not Reported on Financial Statements$52,712
International Activity

International Summary

Spending
$2,531,593

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America & CaribbeanInvestments-00$2,531,593
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$24,409
Fundraising Gross Income$13,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various Smaller Events$12,930$6,210$24,409$-18,199
Howard Morris Hall of Fame$20,540$4,790-$4,790
Total Events$42,880$13,000$24,409$-11,409
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
Refundable Advances$492,428
Liability for Split Interest Agreement$19,100
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
Yes

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
2023-05-15
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
191

Preparer

Firm
Kdp Certified Public Accountants Llp
Address
841 OHARE PKWY STE 200, MEDFORD, OR 97504
Preparer
Renae E Davis 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 Increases

“Change in reserve for uncollectible pledges = $4180”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership 1231 gain = -$131317”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Partnership distribution = $397062”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership income = -$852739”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Partnership interest = -$2530”

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 2020, 2019 and 2018 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 $397062 direct event expenses $24409 in-kind donations $16829”

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

“Interest income from pship k-1 $2530 partnership s1231 gain $131317 partnership income $852739”

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

“Change in reserve for uncoll pledges $-4180 event expenses $24409 in-kind donations $16829”

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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$37,959,600
Liabilities
$1,829,355
Net assets
$36,130,245
Revenue
$6,676,501
Expenses
$1,995,746
Net income
$4,680,755
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