Montana Technological University Foundation
- Assets
- $62.8m
- Revenue
- $8.0m
- Investments
- $2.2m
- Employees
- 25
- Location
- Butte, MT
- Founding
- 02/1969
- Data as of
- 06/2021
- EIN
- 81-0250363
Organization Overview
Montana Technological University Foundation, operating under the name Montana Tech Foundation, is located in Butte, MT. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Montana Tech Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montana Tech Foundation 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, Montana Tech Foundation generated $8.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $4.9m during the year ending 06/2021. 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
ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION PROVIDED THE MONTANA TECHNOLOGICAL UNIVERSITY WITH PRIVATE DOLLARS TO ADVANCE ITS MISSION TO CONNECT STUDENTS TO A NETWORK OF PEOPLE, OPPORTUNITIES AND EXPERIENCE THAT EMPOWER THEM TO CHANGE THE WORLD. THE FOUNDATION PROVIDED $1.9 MILLION IN SCHOLARSHIPS TO 624 STUDENTS AND $1.6 MILLION TO ASSIST DEPARTMENTS WITH PURCHASES OF EQUIPMENT, SUPPLIES AND FACULTY SUPPORT. PRIVATE DOLLARS WERE ALSO PROVIDED TO THE UNIVERSITY TO CONSTRUCT THE LESAR NURSING SIM CENTER AND PURCHASE EQUIPMENT IN THE AMOUNT OF $2.1M. $233K WAS ALSO PROVIDED TO THE UNIVERSITY TO BUILD A NEW POWER LAB IN THE NRRC BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Digiovine Board Chair | OfficerTrustee | 1 | $0 |
Bryan Larson Vice Chair | OfficerTrustee | 1 | $0 |
Tom Hohn Secretary | OfficerTrustee | 1 | $0 |
Josh Vincent Treasurer | OfficerTrustee | 1 | $0 |
Kathy Arnold Director | Trustee | 1 | $0 |
Dave Burger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,272,671 |
| Investment income | $11,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,419,453 |
| Net Income from Fundraising Events | $33,291 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,987,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $367,419 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,474 |
| Pension plan accruals and contributions | $26,417 |
| Other employee benefits | $9,725 |
| Payroll taxes | $76,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,021 |
| Fees for services: Accounting | $33,159 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $39,582 |
| Fees for services: Investment Management | $84,481 |
| Fees for services: Other | $133,348 |
| Advertising and promotion | $18,663 |
| Office expenses | $64,975 |
| Information technology | $160,073 |
| Royalties | $0 |
| Occupancy | $8,414 |
| Travel | $27,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,774 |
| Interest | $250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,093 |
| Insurance | $17,299 |
| All other expenses | $0 |
| Total functional expenses | $4,882,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,061 |
| Savings and temporary cash investments | $5,807,336 |
| Pledges and grants receivable | $1,602,640 |
| Accounts receivable, net | $0 |
| 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 | $274,631 |
| Investments—publicly traded securities | $50,407,583 |
| Investments—other securities | $2,191,795 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $215,532 |
| Total assets | $62,802,705 |
| Accounts payable and accrued expenses | $229,680 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $561,460 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $153,927 |
| Total liabilities | $945,067 |
| 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 | $61,857,638 |
Grants Awarded
Over the last fiscal year, Montana Technological University Foundation has awarded $4,841,642 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MONTANA TECHNOLOGICAL UNIVERSITY PURPOSE: STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS AND PROGRAM DISTRIBUTIONS. | $4,631,788 |
DIGGER ATHLETIC ASSOCIATION PURPOSE: GENERAL OPERATIONS | $189,961 |
MONTANA TECH ALUMNI ASSOCIATION PURPOSE: GENERAL OPERATIONS | $19,893 |