Benjamin Ollada Foundation

“On form 990 ez, the amount of contributions & gifts reported on part 1, line 1 includes the lump sum donation from invited foundation in the amount of $74,129.22, as well as smaller individual donations made directly to our foundation that were not related to the golf tournament.”

“On form 990 ez, grants and similar amounts paid (line 10) is comprised of: 1. Our donation of $75,000.00 to the university of colorado, boulder, school of engineering. 2. Our donation of $1,250.00 to invited foundation from a $3,000.00 gift we received in our name.”

“On form 990 ez, the amount of total expenses reported on part 1, line 17 include all other non-tournament expenses incurred by the organization. Line 16 other expenses totals $475 (bank fees of $93.91, po box lease of $356 and corporate filing fees of $25).”

“On form 990 ez, the fundraising income reported in part 1, lines 6b includes amounts collected by our organization on the day of the tournament through our venmo account ($3,572) . On form 990 ez, the amount of fundraising expenses reported on part 1, line 6c includes those same amounts we collected and remitted back to the invited foundation ($3,572) plus other direct tournament costs we incurred ($2,532) examples of these expenses include silent auction expenses, promotional materials, small prizes, and day of tournament merchant fees.”

“IN 2017, BENJAMIN OLLADA AND HIS TWIN BROTHER, NOLAN OLLADA, WERE IN A TRAGIC CAR ACCIDENT; BOTH WERE STUDENTS IN THE ENGINEERING SCHOOL AT THE UNIVERSITY OF COLORADO, BOULDER. BENJAMIN OLLADA DIED FROM HIS INJURIES AND NOLAN OLLADA WAS SEVERLY INJURED. IN 2018, THE OLLADAS AND THEIR EXTENDED FAMILY CREATED A SCHOLARSHIP WHOLLY ADMINISTERED THROUGH THE UNIVERSITY CALLED THE BENJAMIN OLLADA ENDOWED MEMORIAL SCHOLARSHIP FUND. IN 2018, OUR FOUNDATION WAS CREATED FOR THE SOLE PURPOSE OF RAISING MONEY TO CONTRIBUTE TO THE CU BOULDER SCHOLARSHIP FUND. SINCE ITS INCEPTION IN 2018, THE FOUNDATION HAS DONATED $205,500 TO THE SCHOLARSHIP FUND. WHILE WE ACCEPT DIRECT DONATIONS FROM THE GENERAL PUBLIC, OUR ANNUAL PUBLIC GOLF TOURNAMENT HAS PROVIDED THE BULK OF OUR REVENUE. THE TOURNAMENT HAS GROWN EXPONENTIALLY EACH YEAR, ALLOWING US GO FROM A $5,000 DONATION TO THE UNIVERSITY IN 2018 TO $75,000 IN 2025. BECAUSE THE FOUNDATION IS RUN BY VOLUNTEERS, OUR OPERATING EXPENSES ARE VERY LOW. WHILE WE MAINTAIN A WEBSITE AND CANVAS FOR SILENT AUCTION DONATIONS, MOST OF OUR MARKETING IS VIA EMAIL AND WORD OF MOUTH. IN 2024 THE FOUNDATION BEGAN PARTNERING WITH ANOTHER 501c3 PUBLIC CHARITY TO CO-HOST THE ANNUAL GOLF TOURNAMENT. THIS HAS BEEN A WIN WIN FOR BOTH NON-PROFITS AS WE ARE ABLE TO COMBINE RESOURCES AND MAXIMIZE OUR STRENGTHS. THE INVITED FOUNDATION ( 75-2754798) IS RUN BY THE SAME COMPANY THAT OWNS AND OPERATES THE GOLF COURSE WE USE TO HOST OUR TOURNAMENT. THE INVITED FOUNDATION PROVIDES THE GOLF TOURNAMENT FACILITIES, LABOR, AND ACCOUNTING SERVICES RELATED TO THE GOLF TOURNAMENT. AFTER RECONCILING ALL TOURNAMENT REVENUE AND EXPENSES, THE INVITED FOUNDATION KEEPS A SHARE OF THE PROFITS FOR THEIR EMPLOYEE ASSISTANCE FUND AND DONATES THE REMAINDER TO OUR ORGANIZATION IN A LUMP SUM. THEN, BEFORE THE END OF THE YEAR, THE BENJAMIN OLLADA FOUNDATION REVIEWS OUR OWN REVENUE AND GENERAL OPERATING EXPENSES AND DONATES THE BULK OF OUR PROFIT VIA CHECK OR WIRE TO THE UNIVERSITY OF COLORADO SCHOLARSHIP FUND. ALL DONATIONS HAVE BEEN MADE TO: UNIVERSITY OF COLORADO BOULDER, CU FOUNDATION, PO BOX 561690, DENVER, CO 80256 2025 IS THE FIRST YEAR THAT THE ORGANIZATION'S GROSS RECEIPTS 3-YEAR AVERAGE HAS EXCEEDED $50,000. FORM 990N WAS FILED EVERY YEAR THROUGH 2024. 2025 IS THE FIRST YEAR A FORM 990EZ WAS REQUIRED. OUR ORGANIZATION'S ONLY EXEMPT PURPOSE IS TO RAISE SCHOLARSHIP FUNDS. 100% OF THE FUNDS DONATED TO THE UNIVERSITY CAME FROM INDIVIDUAL PUBLIC DONORS OR FROM OTHER NON-PROFIT PUBLIC CHARITIES. THE EXPENSES ATTRIBUTED TO THIS PROGRAM SERVICE ARE ZERO BECAUSE FORM 990EZ PART III DOES NOT INCLUDE FUNDRAISING, MANAGEMENT, OR OTHER GENERAL EXPENSES. IN OTHER WORDS, THE LUMP SUM CONTRIBUTIONS WE RECEIVED WERE ALREADY NET OF EXPENSES.”