Oregon Tech Foundation Inc
- Assets
- $41.6m
- Revenue
- $6.4m
- Investments
- $6.6m
- Employees
- 0
- Location
- Klamath Falls, OR
- Founding
- 10/1972
- Data as of
- 06/2023
- 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 06/2023, Oregon Tech Foundation Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $3.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
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:
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 |
|---|---|---|---|
Alan Polaski President | OfficerTrustee | 0 | $0 |
Christine Mangan Vice President | OfficerTrustee | 0 | $0 |
Don Johnson Treasurer | OfficerTrustee | 0 | $0 |
Jim Blair Secretary | OfficerTrustee | 0 | $0 |
Dee Thompson Past President | Trustee | 0 | $0 |
Jim Hackett Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $87,855 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,581,230 |
| Noncash contributions included in lines 1a–1f | $34,264 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,669,085 |
| Total Program Service Revenue | $21,840 |
| Investment income | $1,329,529 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,456,376 |
| Net Income from Fundraising Events | -$39,114 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,429,423 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,081,950 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $345,037 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,327 |
| Fees for services: Accounting | $36,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $73,728 |
| Fees for services: Other | $8,614 |
| Advertising and promotion | $9,611 |
| Office expenses | $28,245 |
| Information technology | $69,195 |
| Royalties | $0 |
| Occupancy | $19,454 |
| Travel | $61,466 |
| 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 | $9,506 |
| All other expenses | $34,626 |
| Total functional expenses | $3,679,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,695 |
| Savings and temporary cash investments | $3,828,988 |
| Pledges and grants receivable | $1,423,283 |
| Accounts receivable, net | $2,741 |
| 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 | $55,698 |
| Net Land, buildings, and equipment | $205,000 |
| Investments—publicly traded securities | $28,520,792 |
| Investments—other securities | $6,631,105 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $878,996 |
| Total assets | $41,590,298 |
| Accounts payable and accrued expenses | $1,360,253 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,518,018 |
| 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 | $517,883 |
| Total liabilities | $3,396,154 |
| Net assets without donor restrictions | $13,048,892 |
| Net assets with donor restrictions | $25,145,252 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,590,298 |