Liabilities / Assets
69th percentile
Higher debt load relative to assets than 69% of similar nonprofits.
Oregon College of Art and Craft
990 • Fiscal year 2019 • EIN 93-0961591
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.15x
Liabilities / Revenue
87th percentile
Higher debt load relative to revenue than 87% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
95th percentile
Higher top officer pay than 95% of similar nonprofits.
Top officer pay equals 97.0% of source-year revenue.
Asset Growth
2nd percentile
Faster asset growth than 2% of similar nonprofits.
Revenue Growth
95th percentile
Faster revenue growth than 95% of similar nonprofits.
Balance Sheet
Assets
Down$703,923
Down $929,855 (-57%) from 2018
Net Assets
Down$597,693
Down $661,515 (-53%) from 2018
Liabilities
Down$106,230
Down $268,340 (-72%) from 2018
Revenue And Expenses
Revenue
Up$179,380
Up $103,790 (+137%) from 2018
Expenses
Up$787,943
Up $186,210 (+31%) from 2018
Net Income
Down-$608,563
Down $82,420 (-16%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2018 to Jun 30, 2019
- Signed
- Nov 6, 2019
- Return Version
- 2018v3.1
- Gross Receipts
- $620,234
Mission and Program Overview
Mission
To support the oregon college of art and craft as the sole beneficiary of the foundation's activities.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $76,264 | $252,841 | ▲ $176,577 |
| Investments in Publicly Traded Securities | $1,027,044 | $228,387 | ▼ $798,657 |
| Accounts Receivable | - | $104,045 | - |
| Total Assets | $1,633,778 | $703,923 | ▼ $929,855 |
| Other Assets Total | $530,470 | $118,650 | ▼ $411,820 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $366,207 | - | - |
| Accounts Payable and Accrued Expenses | $8,363 | $106,230 | ▲ $97,867 |
| Total Liabilities | $374,570 | $106,230 | ▼ $268,340 |
| Net Assets / Fund Balance | |||
| Permanently Rstr Net Assets | $576,746 | $576,746 | → $0 |
| Unrestricted Net Assets | $34,038 | $0 | ▼ $34,038 |
| Temporarily Rstr Net Assets | $648,424 | $20,947 | ▼ $627,477 |
| Total Net Assets Fund Balance | $1,259,208 | $597,693 | ▼ $661,515 |
| Total Liabilities and Net Assets / Fund Balance | $1,633,778 | $703,923 | ▼ $929,855 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $118,650 | - | - |
Endowment Activity
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2019 | $1,259,208 | $40,217 | ▲ $83,719 | $785,451 | $597,693 |
| 2018 | $1,766,444 | - | ▲ $52,253 | $559,489 | $1,259,208 |
| 2017 | $1,930,700 | - | ▲ $95,347 | $259,603 | $1,766,444 |
| 2016 | $2,402,815 | - | ▲ $85,986 | $558,101 | $1,930,700 |
| 2015 | $3,074,643 | - | ▼ $114,499 | $557,329 | $2,402,815 |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Jiseon Lee Isbara | President of Ocac, From 9/21/18 | $82,864 | $82,864 |
Board Members and Trustees
| Name | Title |
|---|---|
| Paul Koehler | Chair |
| Denise Mullen | President of Ocac, Through 9/20/18 |
| Albert Passadore Jr | Vice Chair |
| Jamieson Grabenhorst | Trustee |
| Kari Hebble | Trustee |
| RANDY O'CONNOR | Trustee |
| Tom Davis | Trustee and Ocac Board Treasurer |
| Richard Price | Secretary |
| Brad Lawliss | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $169,732
- Other Revenue
- $9,648
- Change in Net Assets
- $-608,563
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $779,060 |
| Other Expenses | $8,883 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $779,060 | - | - | $779,060 |
| Interest | - | $6,391 | - | $6,391 |
| Fees for Service Investment Mgmnt Fees | - | $2,492 | - | $2,492 |
| Total Functional Expenses | $779,060 | $8,883 | $0 | $787,943 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Oregon College of Art & Craft | Lake Oswego, OR | 501 (c)(3) | FUND OREGON COLLEGE OF ARTS AND CRAFT'S PROGRAM SERVICES. | $779,060 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
- Audit committee
- Yes
- 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
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section B, Line 11B
“Because the foundation has been officially dissolved as of the time this 990 was filed, the college's finance committee performed a review of the foundation's 990.”
Form 990, Part VI, Section B, Line 12C
“Trustees are required to annually complete a questionnaire regarding potential conflicts of interest. Trustees are also required to disclose potential conflicts at any time matters come before the board that might cause a conflict and to recuse themselves from voting.”
Form 990, Part VI, Section B, Line 15
“The organization does not have any employees.”
Form 990, Part VI, Section C, Line 19
“Governing documents, conflict of interest policy, and financial statements are available upon request.”
FORM 990, PART VII, SECTION A, LINE 9, COLUMN E:
“Denise mullen received a severance payment of $29,167 in 2018. The reportable compensation for denise mullen of $169,962 on form 990 part vii section a column e represents w-2 compensation for calendar year 2018, inclusive of the $29,167 in severance.”
FORM 990, PART VII:
“The organization does not have employees. The foundation is supported administratively by the president of oregon college of art and craft, the foundation's supported organization.”
Filing and Contact Details
Filer
- Filer Name
- Oregon College of Art and Craft
- EIN
- 93-0961591
- Phone
- 5034758203
- Address
- 333 S STATE STREET NO V 57, LAKE OSWEGO, OR 97034
Signing Officer
- Name
- Tom Davis
- Title
- Ocac Board Treasurer
- Phone
- 5034758203
- Signed
- 2019-11-06
- Discuss with paid preparer
- Yes
Organization Details
- Formed
- 1987
- Legal Domicile
- Or
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 0
- Volunteers
- 0
Preparer
- Firm
- Hoffman Stewart & Schmidt Pc
- Address
- 3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-8663
- Preparer
- Shane M Graves
- Phone
- 5032205900
Supplemental Narrative
Additional Explanations
Form 990, Part III, Line 3
“In response to continued operating losses and other circumstances which raised substantial doubt about the oregon college of art and craft's ability to continue as a going concern, the college board of trustees (the board) approved a resolution on february 1, 2019 to terminate all degree programs at the end of the academic term ending may 13, 2019. The board explored numerous options for continuing operations, ultimately determining that closure was the only responsible option. In conjunction with the planned closure of the college, the foundation began liquidating its assets in fiscal year 2019. The foundation sold its real property and distributed a significant portion of its assets to the college during fiscal year 2019 and remaining foundation net assets were transferred to the oregon community foundation in fiscal year 2020, after which the foundation was officially dissolved.”
FORM 990, PART XI, LINE 9:
“Loss on return of donor restricted funds -106,230.”
FORM 990, PART XII, LINE 1:
“On february 1, 2019, the board of trustees of the college approved a resolution to terminate all degree programs of the oregon college of art and craft, and concluded that liquidation of the college and the oregon college of art and craft foundation was imminent. As a result, the foundation changed its basis of accounting on february 1, 2019, from the going concern basis to a liquidation basis.”
FORM 990, PART IV, LINE 12B:
“Due to a timeline imposed by the department of education, the foundation was included in audited financial statements with a period ending may 31, 2019. The activity for the month of june 2019 was minimal and was not subjected to any audit or review procedures.”
Financial Statement Notes
PART V, LINE 4:
“The funds are used to support the college.”
PART X, LINE 2:
“Management does not believe the foundation has any uncertain tax positions.”
Raw XML AppendixShowing 400 of 521 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 559489 |
| IRS990/PYInvestmentIncomeAmt | 0 | 46645 |
| IRS990/PYOtherExpensesAmt | 0 | 42244 |
| IRS990/PYOtherRevenueAmt | 0 | 28945 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -526143 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 601733 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 75590 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -608563 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 9648 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 76264 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 252841 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | 1 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd | 0 | 1 |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 930391547 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 779060 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | OREGON COLLEGE OF ART AND CRAFT |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 779060 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1259208 |
| IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt | 0 | 40217 |
| IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt | 0 | 597693 |
| IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 83719 |
| IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt | 0 | 785451 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1766444 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1259208 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 52253 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 559489 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1930700 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1766444 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 95347 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 259603 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 2402815 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1930700 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 85986 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 558101 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 3074643 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 2402815 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | -114499 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 557329 |
| IRS990ScheduleD/EndowmentsHeldRelatedOrgInd | 0 | 0 |
| IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd | 0 | 1 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 118650 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | FUNDS HELD AT OCF |
| IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct | 0 | 0.96000 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE FUNDS ARE USED TO SUPPORT THE COLLEGE. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | MANAGEMENT DOES NOT BELIEVE THE FOUNDATION HAS ANY UNCERTAIN TAX POSITIONS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART V, LINE 4: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART X, LINE 2: |
| IRS990ScheduleD/TermEndowmentBalanceEOYPct | 0 | 0.04000 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 118650 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 779060 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501 (C)(3) |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | FUND OREGON COLLEGE OF ARTS AND CRAFT'S PROGRAM SERVICES. |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | OREGON COLLEGE OF ART & CRAFT |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 930391547 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 333 S STATE ST STE V 57 |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | LAKE OSWEGO |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | OR |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 97034 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION MONITORS THE AMOUNTS CONTRIBUTED TO OCAC. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 2: |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 0 |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | 0 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 140795 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 4112 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 29167 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | DENISE MULLEN |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT OF OCAC, THROUGH 9/20/18 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 174074 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 1 |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | DENISE MULLEN RECEIVED A SEVERANCE PAYMENT OF $29,167 IN 2018. THE TOTAL REPORTABLE COMPENSATION FOR DENISE MULLEN OF $169,962 ON FORM 990 PART VII SECTION A REPRESENTS W-2 COMPENSATION FOR CALENDAR 2018, INCLUSIVE OF THE $29,167 IN SEVERANCE. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 4A |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990ScheduleN/DirectorOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 0 | REAL PROPERTY |
| IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 1 | CASH GIFT TO OCAC |
| IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 0 | OREGON COLLEGE OF ART AND CRAFT |
| IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt | 0 | 2018-10-19 |
| IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt | 1 | 2018-10-31 |
| IRS990ScheduleN/DispositionOfAssetsDetail/EIN | 0 | 930391547 |
| IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt | 0 | 600000 |
| IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt | 1 | 799060 |
| IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt | 0 | 501(C)(3) |
| IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt | 0 | SALES PRICE |
| IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt | 1 | CASH PAID |
| IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm | 0 | PARVIZ MOSAEDI-NAMIN AND FATEMEH NO |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt | 0 | 14730 SW SURREY COURT |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt | 1 | 333 S STATE ST STE V 57 |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm | 0 | BEAVERTON |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm | 1 | LAKE OSWEGO |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd | 0 | OR |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd | 1 | OR |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd | 0 | 97006 |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd | 1 | 97034 |
| IRS990ScheduleN/EmployeeOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/OwnerOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/ReceiveCompensation2Ind | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | IN RESPONSE TO CONTINUED OPERATING LOSSES AND OTHER CIRCUMSTANCES WHICH RAISED SUBSTANTIAL DOUBT ABOUT THE OREGON COLLEGE OF ART AND CRAFT'S ABILITY TO CONTINUE AS A GOING CONCERN, THE COLLEGE BOARD OF TRUSTEES (THE BOARD) APPROVED A RESOLUTION ON FEBRUARY 1, 2019 TO TERMINATE ALL DEGREE PROGRAMS AT THE END OF THE ACADEMIC TERM ENDING MAY 13, 2019. THE BOARD EXPLORED NUMEROUS OPTIONS FOR CONTINUING OPERATIONS, ULTIMATELY DETERMINING THAT CLOSURE WAS THE ONLY RESPONSIBLE OPTION. IN CONJUNCTION WITH THE PLANNED CLOSURE OF THE COLLEGE, THE FOUNDATION BEGAN LIQUIDATING ITS ASSETS IN FISCAL YEAR 2019. THE FOUNDATION SOLD ITS REAL PROPERTY AND DISTRIBUTED A SIGNIFICANT PORTION OF ITS ASSETS TO THE COLLEGE DURING FISCAL YEAR 2019 AND REMAINING FOUNDATION NET ASSETS WERE TRANSFERRED TO THE OREGON COMMUNITY FOUNDATION IN FISCAL YEAR 2020, AFTER WHICH THE FOUNDATION WAS OFFICIALLY DISSOLVED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | BECAUSE THE FOUNDATION HAS BEEN OFFICIALLY DISSOLVED AS OF THE TIME THIS 990 WAS FILED, THE COLLEGE'S FINANCE COMMITTEE PERFORMED A REVIEW OF THE FOUNDATION'S 990. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | TRUSTEES ARE REQUIRED TO ANNUALLY COMPLETE A QUESTIONNAIRE REGARDING POTENTIAL CONFLICTS OF INTEREST. TRUSTEES ARE ALSO REQUIRED TO DISCLOSE POTENTIAL CONFLICTS AT ANY TIME MATTERS COME BEFORE THE BOARD THAT MIGHT CAUSE A CONFLICT AND TO RECUSE THEMSELVES FROM VOTING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | DENISE MULLEN RECEIVED A SEVERANCE PAYMENT OF $29,167 IN 2018. THE REPORTABLE COMPENSATION FOR DENISE MULLEN OF $169,962 ON FORM 990 PART VII SECTION A COLUMN E REPRESENTS W-2 COMPENSATION FOR CALENDAR YEAR 2018, INCLUSIVE OF THE $29,167 IN SEVERANCE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | LOSS ON RETURN OF DONOR RESTRICTED FUNDS -106,230. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | ON FEBRUARY 1, 2019, THE BOARD OF TRUSTEES OF THE COLLEGE APPROVED A RESOLUTION TO TERMINATE ALL DEGREE PROGRAMS OF THE OREGON COLLEGE OF ART AND CRAFT, AND CONCLUDED THAT LIQUIDATION OF THE COLLEGE AND THE OREGON COLLEGE OF ART AND CRAFT FOUNDATION WAS IMMINENT. AS A RESULT, THE FOUNDATION CHANGED ITS BASIS OF ACCOUNTING ON FEBRUARY 1, 2019, FROM THE GOING CONCERN BASIS TO A LIQUIDATION BASIS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | DUE TO A TIMELINE IMPOSED BY THE DEPARTMENT OF EDUCATION, THE FOUNDATION WAS INCLUDED IN AUDITED FINANCIAL STATEMENTS WITH A PERIOD ENDING MAY 31, 2019. THE ACTIVITY FOR THE MONTH OF JUNE 2019 WAS MINIMAL AND WAS NOT SUBJECTED TO ANY AUDIT OR REVIEW PROCEDURES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | THE ORGANIZATION DOES NOT HAVE EMPLOYEES. THE FOUNDATION IS SUPPORTED ADMINISTRATIVELY BY THE PRESIDENT OF OREGON COLLEGE OF ART AND CRAFT, THE FOUNDATION'S SUPPORTED ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART III, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VII, SECTION A, LINE 9, COLUMN E: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART XI, LINE 9: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART XII, LINE 1: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PART IV, LINE 12B: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 9 | FORM 990, PART VII: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $703,923
- Liabilities
- $106,230
- Net assets
- $597,693
- Revenue
- $179,380
- Expenses
- $787,943
- Net income
- -$608,563