Perry Technical Foundation
- Assets
- $11.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Yakima, WA
- Founding
- 11/1993
- Data as of
- 06/2023
- EIN
- 94-3188041
Organization Overview
Perry Technical Foundation is located in Yakima, WA. The organization was established in 1993. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Perry Technical 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 06/2023, Perry Technical Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO ASSURE THE LONG TERM STABILITY AND EXISTENCE OF PERRY TECHNICAL INSTITUTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PERRY TECHNICAL FOUNDATION SUPPORTS STUDENTS ATTENDING PERRY TECHNICAL INSTITUTE BY PROVIDING A COMPREHENSIVE SCHOLARSHIP PROGRAM. SCHOLARSHIPS ARE OFFERED TWICE A YEAR TO STUDENTS IN GOOD STANDING WHO HAVE COMPLETED ONE QUARTER. APPLICATIONS ARE REVIEWED BY A COMMITTEE OF INDEPENDENT VOLUNTEERS AND AWARDED BASED UPON A STUDENT ESSAY, GRADES, ATTENDANCE, FINANCIAL NEED AND REFERENCES. THE PERRY TECHNICAL FOUNDATION DISTRIBUTED FUNDS TO 408 STUDENTS IN THE FORM OF SCHOLARSHIPS DURING THE 2022-2023 FISCAL YEAR.
THE PERRY TECHNICAL FOUNDATION ASSISTS WITH EDUCATIONAL PROGRAMS AT PERRY TECHNICAL INSTITUTE THROUGH EQUIPMENT PURCHASES AND CAPITAL IMPROVEMENTS. DURING THE 2022-2023 FISCAL YEAR, $772,660 IN EQUIPMENT FUNDS AND OPERATIONAL SUPPORT FUNDS FOR PERRY TECH INSTITUTE WERE DISBURSED. THE EQUIPMENT PURCHASES HELP ENSURE THAT PERRY TECHNICAL INSTITUTE STUDENTS ARE RECEIVING TRAINING ON HIGH QUALITY EQUIPMENT SIMILAR TO WHAT THEY WILL EXPERIENCE IN INDUSTRY.
THE PERRY TECHNICAL FOUNDATION SUPPORTS STUDENTS ATTENDING PERRY TECHNICAL INSTITUTE BY OFFERING SMALL LOANS TO STUDENTS. LOAN FUNDS ARE AVAILABLE TO STUDENTS WITH GOOD CREDIT WHO ARE STRUGGLING WITH THE FUNDS NEEDED TO PURCHASE EQUIPMENT OR TOOLS FOR THEIR PROGRAM. LOANS ARE AVAILABLE ON A FIRST COME, FIRST SERVE BASIS TO STUDENTS WHO APPLY AND PASS THE REQUIRED CREDIT CHECK. REPAYMENT BEGINS SIX MONTHS AFTER GRADUATION. DURING THE 2022-2023 FISCAL YEAR $11,241 IN LOAN FUNDS WERE DISTRIBUTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Cote President | OfficerTrustee | 1 | $0 |
Cathy Sterbenz Treasurer | OfficerTrustee | 1 | $0 |
Tressa Shockley Secretary | OfficerTrustee | 40 | $0 |
Lowell Sak Director (until 10/22) | Trustee | 1 | $0 |
Steve Altmayer Director | Trustee | 1 | $0 |
Don Carrell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $186,072 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,002,795 |
| Noncash contributions included in lines 1a–1f | $46,609 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,188,867 |
| Total Program Service Revenue | $0 |
| Investment income | $318,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,207 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $228,031 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,844,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $772,660 |
| Grants and other assistance to domestic individuals. | $683,928 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $86,283 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,027 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,357 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,870 |
| Fees for services: Other | $1,705 |
| Advertising and promotion | $48,668 |
| Office expenses | $5,023 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $365 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,743,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $627,692 |
| Pledges and grants receivable | $560,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $61,377 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,387,206 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $357,893 |
| Total assets | $10,994,168 |
| Accounts payable and accrued expenses | $8,532 |
| Grants payable | $0 |
| Deferred revenue | $59,986 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $520,524 |
| Total liabilities | $589,042 |
| Net assets without donor restrictions | $775,839 |
| Net assets with donor restrictions | $9,629,287 |
| 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 | $10,994,168 |