Civic Intelligence

Paper Technology Foundation Inc.

990 • Fiscal year 2021 • EIN 38-1691181

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 08, 2021

1903 W Michigan Ave Seibert BldgKalamazoo, MI 49008-5207

(269) 387-2365

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

93rd percentile

70%

Higher net margin than 93% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

95th percentile

$506,685

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 34.4% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

78th percentile

27%

Faster asset growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

92nd percentile

161%

Faster revenue growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$7,122,847

Up $1,533,496 (+27%) from 2020

Net Assets

Up

$7,122,847

Up $1,540,746 (+28%) from 2020

Liabilities

Down

$0

Down $7,250 (-100%) from 2020

Revenue

Up

$1,473,729

Up $909,688 (+161%) from 2020

Expenses

Down

$444,527

Down $424,933 (-49%) from 2020

Net Income

Up

$1,029,202

Up $1,334,621 (+437%) from 2020

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $5,859,350Liabilities 2011: $0Net Assets 2011: $5,859,3502011Assets 2012: $5,455,601Liabilities 2012: $234Net Assets 2012: $5,455,3672012Assets 2013: $5,980,523Liabilities 2013: $455Net Assets 2013: $5,980,0682013Assets 2014: $6,495,228Liabilities 2014: $48Net Assets 2014: $6,495,1802014Assets 2015: $6,248,544Liabilities 2015: $0Net Assets 2015: $6,248,5442015Assets 2016: $5,869,846Liabilities 2016: $13,650Net Assets 2016: $5,856,1962016Assets 2017: $6,287,474Liabilities 2017: $0Net Assets 2017: $6,287,4742017Assets 2018: $6,362,521Liabilities 2018: $13,923Net Assets 2018: $6,348,5982018Assets 2019: $6,180,046Liabilities 2019: $14,502Net Assets 2019: $6,165,5442019Assets 2020: $5,589,351Liabilities 2020: $7,250Net Assets 2020: $5,582,1012020Assets 2021: $7,122,847Liabilities 2021: $0Net Assets 2021: $7,122,8472021Assets 2022: $5,477,468Liabilities 2022: $4,658Net Assets 2022: $5,472,8102022Assets 2023: $5,758,335Liabilities 2023: $4,658Net Assets 2023: $5,753,6772023Assets 2024: $6,423,771Liabilities 2024: $4,958Net Assets 2024: $6,418,8132024

Highlighted filing

2021

Assets$7,122,847
Liabilities$0
Net Assets$7,122,847

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $565,148Expenses 2011: $434,792Net Income 2011: $130,3562011Revenue 2012: $373,786Expenses 2012: $503,565Net Income 2012: -$129,7792012Revenue 2013: $694,465Expenses 2013: $469,893Net Income 2013: $224,5722013Revenue 2014: $734,283Expenses 2014: $634,156Net Income 2014: $100,1272014Revenue 2015: $1,181,019Expenses 2015: $949,851Net Income 2015: $231,1682015Revenue 2016: $573,120Expenses 2016: $638,308Net Income 2016: -$65,1882016Revenue 2017: $470,887Expenses 2017: $600,216Net Income 2017: -$129,3292017Revenue 2018: $599,192Expenses 2018: $614,852Net Income 2018: -$15,6602018Revenue 2019: $1,253,493Expenses 2019: $1,289,305Net Income 2019: -$35,8122019Revenue 2020: $564,041Expenses 2020: $869,460Net Income 2020: -$305,4192020Revenue 2021: $1,473,729Expenses 2021: $444,527Net Income 2021: $1,029,2022021Revenue 2022: $1,165,888Expenses 2022: $1,978,800Net Income 2022: -$812,9122022Revenue 2023: $940,331Expenses 2023: $995,166Net Income 2023: -$54,8352023Revenue 2024: $1,138,376Expenses 2024: $799,832Net Income 2024: $338,5442024

Highlighted filing

2021

Revenue$1,473,729
Expenses$444,527
Net Income$1,029,202
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 8, 2021
Return Version
2020v4.0
Gross Receipts
$1,473,729
Mission and Program Overview

Mission

To provide leadership and support to western michigan university and the department of chemical and paper engineering to develop motivated graduates in order to advance the global pulp and paper industry.

To support paper engineering at western michigan university. The paper technology foundation, inc. Supports undergraduate student development by providing scholarships and by funding professional industry conference attendance, professional and personal development training sessions, networking and mentoring events with industry leaders, career development, and industry field trips and mill tours.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,021,087$4,038,705▲ $1,017,618
Investments Other Securities$1,915,502$2,274,906▲ $359,404
Cash and Non-Interest-Bearing Accounts$442,091$601,529▲ $159,438
Pledges and Grants Receivable$156,557$131,967▼ $24,590
Land, Buildings, and Equipment, Net$50,343$49,570▼ $773
Savings and Temporary Cash Investments$3,771$26,170▲ $22,399
Total Assets$5,589,351$7,122,847▲ $1,533,496
Liabilities
Accounts Payable and Accrued Expenses$7,250--
Total Liabilities$7,250$0▼ $7,250
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,132,623$5,222,667▲ $1,090,044
Net Assets Without Donor Restrictions$1,449,478$1,900,180▲ $450,702
Total Net Assets Fund Balance$5,582,101$7,122,847▲ $1,540,746
Total Liabilities and Net Assets / Fund Balance$5,589,351$7,122,847▲ $1,533,496

Asset Categories

AssetBook ValueDepreciationBasis
Land$49,570--
Other Securities$290,607--
Financial Derivatives$786,348--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$4,990,914$127,642▲ $1,645,391-$6,510,991
2020$5,547,113$150,955▼ $299,483-$4,990,914
2019$5,988,994$97,483▲ $116,663-$5,789,117
2018$5,904,428$35,964▲ $326,714-$5,988,994
2017$5,483,040$-39,672▲ $681,143-$5,904,428
Compensation and Service Providers

Employees

NameTitleOtherTotal
Edward B MontgomeryEx-officio T$506,685$506,685
Steve ButtEx-officio T$263,535$263,535
Colleen ScarffAsst. Treasu$228,612$228,612
Tim HagenbuchExecutive Di$150,777$150,777

Board Members and Trustees

NameTitle
Mike FarrellPresident
Steve MyersPresident El
Edward B MontgomeryEx-officio Trustee
Steve ButtEx-officio Trustee
Tim HagenbuchExecutive Director
Anthony V LyonsTrustee
Bill EdwardsTrustee
Brian SmithTrustee
Erik StanderferTrustee
Greg WelschTrustee
Henry KrellTrustee
James GuntherTrustee
Jay HennesseyTrustee
Jonathan MayorosTrustee
Larry AnkerTrustee
Mark ZempelTrustee
Megan Hostetler-schrockTrustee
Michael FelkerTrustee
Michael VandemaeleTrustee
Mike GouletTrustee
Mike WeinholdTrustee
Peter FernstrumTrustee
Reid JajkoTrustee
Rick HartmanTrustee
Robert a HansenTrustee
Rodger FullerTrustee
Tony RigelmanTrustee
Colleen ScarffAsst. Treasurer
Chris WetherfordSecretary
Janice J Van Der KleyTreasurer
Chris EatonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$509,482
Program Service Revenue
$0
Investment Income
$961,502
Other Revenue
$2,745
All Other Contributions
$410,421
Change in Net Assets
$1,029,202

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,473,729
Revenue Not Reported on Form 990
$511,544
Total Revenue per Audited Statements
$1,985,273
Total Revenue per Form 990
$1,473,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$186,912
Other Expenses$176,226
Salaries, Compensation, and Employee Benefits$81,389
Total Fundraising Expense$49,587
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$186,912--$186,912
Fees for Services Management$12,397$25,315$45,457$83,169
Fees for Services Other$79,450$719$54$80,223
Other Salaries and Wages$44,181$6,685$2,599$53,465
Other Employee Benefits$11,929$2,103$702$14,734
Office Expenses-$11,303-$11,303
Pension Plan Contributions$7,657$902$450$9,009
Payroll Taxes$3,554$418$209$4,181
Insurance-$1,335-$1,335
Travel$17$63$116$196
Total Functional Expenses$346,097$48,843$49,587$444,527

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$444,527
Total Expenses per Audited Statements$444,527
Total Expenses per Form 990$444,527
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The members of this foundation shall be companies, associations, foundations, and individuals who are from time to time approved for membership by the governance committee, based on the membership classifications outlined below. Corporate foundation memberships: 1. Corporate benefactor (voting), 12,000 - any company or organization that establishes a named scholarship fund or endowment fund and which contributes the prescribed annual dues. 2. Corporate member (voting), 12,000 - any company or organization that contributes the prescribed annual dues but has not established a named scholarship fund or endowment fund. 3. Corporate member (voting), 9,000 - any small to mid-sized company or organization that contributes the prescribed annual dues 4. Corporate donor (non-voting), 5,000- 8,999 -any company or organization that contributes the prescribed annual dues but not an amount needed to qualify as a corporate member. 5. Corporate contributor (non-voting), 1,500 - 4,999 - any company or organization that contributes annual dues but not an amount needed to qualify as a corporate donor. Individual foundation memberships: 1. Individual benefactor (voting), 10,000 - any individual who establishes a named scholarship fund of 10,000 or more and who contributes the prescribed annual dues of 1,000 or more. 2. Individual patron (voting), 1,000 - any individual who contributes the prescribed annual dues of 1,000 or more but has not established a named scholarship fund. 3. Individual life member (voting) - any individual who has received the hall of fame award. 4. Individual member (non-voting), 50 - any individual who contributes the prescribed annual dues of 50 or more. 5. Alumni member (non-voting), 50 - any individual who has graduated from the paper programs of the department of chemical and paper engineering and who contributes the prescribed annual dues of 50 or more. 6. Student member (non-voting), 10 - any student in the paper programs of the department of chemical and paper engineering who contributes the prescribed ts'ai lun semester dues.

Form 990, Page 6, Part VI, Line 7A

The members are approved for membership by the governance committee, based on the membership classifications. Members elect the board of trustees officers at the annual meeting of the foundation. Members may remove from office any trustee or officer elected by or appointed and elect or appoint his/her successor.

Form 990, Page 6, Part VI, Line 7B

The board of trustees shall have the power to establish the dues payable for membership in the foundation. A report of the board of trustees' activity shall be submitted to the members at the annual meeting. The foundation is subject to the approval of and review by the western michigan university board of trustees per its by-laws.

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the foundations officers and trustees prior to filing the return.

Form 990, Page 6, Part VI, Line 12C

The board chair is to be informed in writing of any conflicts annually. The ability to participate in the discussion and or vote on any issue under conflict depends on the nature and extent of the relationship.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Paper Technology Foundationinc
EIN
38-1691181
Phone
2693872365
Address
1903 W MICHIGAN AVE SEIBERT BLDG, KALAMAZOO, MI 49008-5207

Signing Officer

Name
Colleen Scarff
Title
Asst. Treasurer
Phone
2693872365
Signed
2021-11-08

Organization Details

Principal Officer
Mike Farrell
Formed
1958
Legal Domicile
Mi
Voting Board Members
31
Independent Board Members
26
Employees
0
Volunteers
28
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Miscellaneous 916 719 54 recruiting 78,534 0 0 total 79,450 719 54

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

To provide leadership and support to western michigan university and the department of chemical and paper engineering to develop motivated graduates in order to advance to global pulp industry.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4ASST. TREASU
IRS990/Form990PartVIISectionAGrp/TitleTxt5EX-OFFICIO T
IRS990/Form990PartVIISectionAGrp/TitleTxt6EX-OFFICIO T
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30TRUSTEE
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.42$0.00$6.42$1.14$0.80$0.34
2023Detailed filing. Detailed filing data is available for this year.$5.76$0.00$5.75$0.94$1.00$0.05
2022Detailed filing. Detailed filing data is available for this year.$5.48$0.00$5.47$1.17$1.98$0.81
2021Detailed filing. Detailed filing data is available for this year.$7.12$0.00$7.12$1.47$0.44$1.03
2020Detailed filing. Detailed filing data is available for this year.$5.59$0.01$5.58$0.56$0.87$0.31
2019Detailed filing. Detailed filing data is available for this year.$6.18$0.01$6.17$1.25$1.29$0.04
2018Summary only. Only limited summary data is available for this year.$6.36$0.01$6.35$0.60$0.61$0.02
2017Summary only. Only limited summary data is available for this year.$6.29$0.00$6.29$0.47$0.60$0.13
2016Summary only. Only limited summary data is available for this year.$5.87$0.01$5.86$0.57$0.64$0.07
2015Summary only. Only limited summary data is available for this year.$6.25$0.00$6.25$1.18$0.95$0.23
2014Summary only. Only limited summary data is available for this year.$6.50$0.00$6.50$0.73$0.63$0.10
2013Summary only. Only limited summary data is available for this year.$5.98$0.00$5.98$0.69$0.47$0.22
2012Summary only. Only limited summary data is available for this year.$5.46$0.00$5.46$0.37$0.50$0.13
2011Summary only. Only limited summary data is available for this year.$5.86$0.00$5.86$0.57$0.43$0.13