Oregon Tech Foundation Inc
- Assets
- $39.6m
- Revenue
- $3.3m
- Investments
- $5.0m
- Employees
- 0
- Location
- Klamath Falls, OR
- Founding
- 10/1972
- Data as of
- 06/2021
- EIN
- 23-7056213
Organization Overview
Oregon Tech Foundation Inc is located in Klamath Falls, OR. The organization was established in 1972. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oregon Tech Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Oregon Tech Foundation Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 2.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE OREGON TECH FOUNDATION IS TO PROMOTE EDUCATIONAL, CULTURAL, CHARITABLE, AND SERVICE FUNCTIONS OF THE OREGON INSTITUTE OF TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO STUDENTS OF OREGON INSTITUTE OF TECHNOLOGY. STUDENTS RECEIVED SCHOLARSHIPS BASED ON MERIT, NEED AND OTHER FACTORS.
OTHER PROGRAM SERVICES
ACADEMICS, ATHLETICS AND STUDENT ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diedra Thompson Past President | OfficerTrustee | 0 | $0 |
Jim Blair Secretary | OfficerTrustee | 0 | $0 |
Don Young Treasurer | OfficerTrustee | 0 | $0 |
John Davis Vice President | OfficerTrustee | 0 | $0 |
Alan Polaski President | OfficerTrustee | 0 | $0 |
Kevin Ferrasci O'malley Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,081,214 |
| Investment income | $1,217,998 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$152,475 |
| Net Income from Fundraising Events | -$894 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,262,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $869,499 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $294,927 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,595 |
| Fees for services: Accounting | $28,594 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,715 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,921 |
| Office expenses | $17,067 |
| Information technology | $31,549 |
| Royalties | $0 |
| Occupancy | $17,808 |
| Travel | $7,407 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,467 |
| All other expenses | $0 |
| Total functional expenses | $1,630,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $2,819,133 |
| Pledges and grants receivable | $1,632,124 |
| Accounts receivable, net | $164,346 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $56,236 |
| Investments—publicly traded securities | $29,589,107 |
| Investments—other securities | $4,965,623 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,852 |
| Total assets | $39,593,421 |
| Accounts payable and accrued expenses | $209,965 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,221,248 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,410 |
| Total liabilities | $1,455,623 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $38,137,798 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Oregon Tech Foundation Inc has recieved totaling $863,813.
| Awarding Organization | Amount |
|---|---|
Robert J And Leona Dearmond Public Foundation Portland, OR PURPOSE: Higher Education | $420,000 |
Klamath County Economic Development Association Klamath Falls, OR PURPOSE: EDUCATION | $180,000 |
Klamath Medical Service Bureau Klamath Falls, OR PURPOSE: SCHOLARSHIP FUND AND PROGRAM DEVELOPMENT | $86,000 |
Roundhouse Foundation Irrv Charitable Tr Sisters, OR PURPOSE: OREGON TECH RESPIRATORY CARE PROGRAM ENHANCING TRAINING AND EDUCATION PROPOSAL | $50,000 |
Oregon Community Foundation Portland, OR PURPOSE: Higher Education | $33,752 |
The Lemelson Foundation Portland, OR PURPOSE: TO IMPROVE UNIVERSITY CONTRIBUTIONS TO REGIONAL INVENTION ECOSYSTEM THROUGH EXPANDING CATALYZE KLAMATH'S COMMUNITY ENGAGEMENT WORK. | $20,999 |
Endowment Analysis
| Beg. Balance | $22,009,935 |
| Earnings | $6,087,572 |
| Net Contributions | $543,307 |
| Other Expense | $761,210 |
| Ending Balance | $27,879,604 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Tarzana, CA | $10,228,800 | $19,320,948 |
University Of The People Pasadena, CA | $8,426,107 | $18,756,835 |
Foundation For Hispanic Education San Jose, CA | $9,597,564 | $17,861,109 |
Providence Christian College Pasadena, CA | $1,662,159 | $9,814,467 |
San Francisco College Track Qalicb Inc Oakland, CA | $0 | $8,636,000 |
Humphreys College Stockton, CA | $28,503,602 | $8,301,244 |
Humboldt State University Foundation Arcata, CA | $57,544,376 | $13,924,277 |
New Saint Andrews College Inc Moscow, ID | $6,400,255 | $5,399,680 |
California Maritime Academy Foundation Inc Vallejo, CA | $17,506,406 | $6,962,051 |
Boise Bible College Inc Boise, ID | $6,828,761 | $2,750,505 |
Alliance College-Ready Middle Academy #4 Los Angeles, CA | $0 | $3,113,853 |
Southern Oregon University Foundation Ashland, OR | $42,053,103 | $5,034,083 |