2024-05-06T13:12:44-05:00 2023-06-30 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2022-07-01 810250363 MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION MONT 4064964615 1300 WEST PARK STREET BUTTE MT 59701 JAIME HEPPLER CEO 4064964615 2024-04-25 1 JAIME HEPPLER 999009999 0 EMINA O CRESSWELL CPA P01217304 5097472600 2024-04-25 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z MONTANA TECH FOUNDATION JAIME HEPPLER 1300 WEST PARK STREET BUTTE MT 59701 59401687 0 X FOUNDATION.MTECH.EDU X 1967 MT ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY. 19 19 9 45 45943 30684 11942364 42903714 100000 0 1104690 409932 34035 167096 13181089 43480742 5218583 9901336 0 0 704705 928758 0 0 771065 1270230 1490331 7193518 12320425 5987571 31160317 66302899 100387232 675979 527768 65626920 99859464 X THE MISSION OF THE MONTANA TECH FOUNDATION IS TO ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY BY GENERATING PRIVATE CONTRIBUTIONS TO SUPPLEMENT THE INSTITUTION'S STATE AND FEDERAL REVENUES FOR CAPITAL, OPERATING, AND STUDENT ASSISTANCE FUNDS. ESTABLISHED IN 1967 UNDER STATE OF MONTANA LAW, THE FOUNDATION IS THE CATALYST AND CONDUIT THROUGH WHICH GIFTS AND ENDOWMENT INCOME FLOW TO PROVIDE IMMEDIATE AND LONG-TERM SUPPORT FOR MONTANA TECHNOLOGICAL UNIVERSITY AND ALL OF ITS PROGRAMS. THE FOUNDATION IS A MECHANISM THROUGH WHICH PRIVATE SUPPORT IS RAISED AND MANAGED FOR THE SOLE BENEFIT OF MONTANA TECHNOLOGICAL UNIVERSITY. OVERSEEN BY A BOARD OF DIRECTORS AND STAFFED BY A TEAM OF DEVELOPMENT PROFESSIONALS, THE FOUNDATION ADMINISTERS ALL GIFTS IN A BUSINESS-LIKE MANNER IN ACCORDANCE WITH DONORS' WISHES. 0 0 10792096 9901336 0 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 $2 MILLION IN SCHOLARSHIPS TO 569 STUDENTS AND $8 MILLION TO ASSIST DEPARTMENTS WITH PURCHASES OF EQUIPMENT, SUPPLIES AND FACULTY SUPPORT. 10792096 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 20 0 1 9 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA KY LA MD MA MI MN NH NJ NY NC ND OR SC UT WI X X LANCE ALLEN 4064964615 1300 WEST PARK STREET BUTTE MT 59701 LUKE MEYER VICE PRESIDENT OF DEVELOPMENT 40.00 X 103574 0 31262 DEANNA JOHNSON CHIEF FINANCIAL OFFICER 40.00 X 97774 0 30371 JAIME HEPPLER CHIEF EXECUTIVE OFFICER 40.00 X 79913 0 6600 BRYAN LARSON BOARD CHAIR 1.00 X X 0 0 0 NICK DIGIOVINE BOARD CHAIR (THRU 6/23) 1.00 X X 0 0 0 BOB SHEPHERD VICE CHAIR 1.00 X X 0 0 0 TOM HOHN SECRETARY 1.00 X X 0 0 0 JOSH VINCENT TREASURER 1.00 X X 0 0 0 KATHY ARNOLD DIRECTOR 1.00 X 0 0 0 DAVE BURGER DIRECTOR 1.00 X 0 0 0 SKYE CALLANTINE DIRECTOR 1.00 X 0 0 0 JON CHERRY DIRECTOR 1.00 X 0 0 0 GARY KOLSTAD DIRECTOR 1.00 X 0 0 0 JONNA LASLOVICH DIRECTOR 1.00 X 0 0 0 LEO MCCARTHY DIRECTOR 1.00 X 0 0 0 MIKE MCGIVERN DIRECTOR 1.00 X 0 0 0 BOB MORRIS DIRECTOR 1.00 X 0 0 0 MAGGIE PETERSON DIRECTOR 1.00 X 0 0 0 ADAM SAYERS DIRECTOR 1.00 X 0 0 0 ROCKY SEALE DIRECTOR 1.00 X 0 0 0 STEPHANIE SORINI DIRECTOR 1.00 X 0 0 0 TIM SULSER DIRECTOR 1.00 X 0 0 0 SEAN WOOLVERTON DIRECTOR 1.00 X 0 0 0 BRIAN SMYTH DIRECTOR (THRU 9/22) 1.00 X 0 0 0 281261 0 68233 1 0 0 0 0 44725 42858989 7276535 42903714 71950 71950 16172226 15834244 337982 337982 337982 188323 44725 76611 111712 111712 19531 10090 9441 9441 PASSTHROUGH INCOME 900099 45943 45943 45943 43480742 0 45943 531085 9900136 9900136 1200 1200 349494 143592 205902 388323 159544 228779 31849 14136 17713 107131 48412 58719 51961 19933 32028 3250 1500 1750 56027 56027 103704 103704 161144 109095 26957 25092 13980 11120 2860 190989 149624 39669 1696 150180 4207 23132 122841 184519 150114 19824 14581 32270 27145 4390 735 221 221 65162 37137 10531 17494 22387 429 21958 ENTERTAINMENT 209176 179571 17444 12161 REPAIRS & MAINTENANCE 142984 135521 5956 1507 GIFTS 86033 58327 4131 23575 DUES & SUBSCRIPTIONS 21794 18547 915 2332 46511 8202 35259 3050 12320425 10792096 757264 771065 1151588 1032600 5035174 5643050 1813209 24034935 28500 0 195721 137800 2450613 713354 1782639 1737259 54243616 65662289 1832852 1915631 219600 223668 66302899 100387232 312986 246586 158159 66799 204834 214383 675979 527768 X 2364185 2242968 63262735 97616496 65626920 99859464 66302899 100387232 X 31160317 3122719 -50492 X 0 1 X 1 0 X 4931606 5582489 5272671 11942364 42903714 70632844 4931606 5582489 5272671 11942364 42903714 70632844 37713498 32919346 412889 115977 67655 68313 71950 736784 43266 135965 31684 210915 50000 50000 71630543 983168 0.45960 0.85930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57362938 10984588 5271182 1915650 1640586 1077575 68984897 52092737 8981096 -1020439 2690456 57362938 42100223 1525169 11541888 3074543 52092737 42894396 1662704 -165798 2291079 42100223 45194657 4507117 1792928 8600306 42894396 0.01000 0.84000 0.15000 1 0 18996 18996 2306447 609283 1697164 125170 104071 21099 1737259 NOTES PAYABLE 23329 GIFT ANNUITY PAYABLE 191054 214383 X 46535966 3122719 82152 3204871 43331095 103704 45943 149647 43480742 12303422 86701 86701 12216721 103704 103704 12320425 PART V, LINE 4: THE ORGANIZATION USES ENDOWMENT FUNDS TO GENERATE INCOME FROM INVESTMENTS TO SUPPORT THE COLLEGE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE 50L(C)(3) AS AMENDED. THE INTERNAL REVENUE SERVICE (IRS) HAS RULED THAT THE FOUNDATION IS NOT A PRIVATE FOUNDATION AS DEFINED IN 509(A) OF THE INTERNAL REVENUE CODE. BUSINESS INCOME UNRELATED TO THE PURPOSE OF THE ORGANIZATION IS REPORTED IN A FORM 990-T AND INCOME TAXES ARE PAID ON UNRELATED BUSINESS INCOME. THE FOUNDATION COMPLIES WITH THE FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. ASC 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PROCESS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND ALSO PROVIDES GUIDANCE ON VARIOUS RELATED MATTERS SUCH AS DERECOGNITION, INTEREST, PENALTIES, AND DISCLOSURES REQUIRED. AS OF JUNE 30, 2023, THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 86,701. CHANGE IN VALUE OF LIFE INSURANCE ANNUITY 4,068. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -8,617. PART XI, LINE 4B - OTHER ADJUSTMENTS: PASSTHROUGH INCOME 45,943. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 86,701. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 7053684 0 0 0 0 0 0 7053684 0 7053684 1 0 0 0 0 0 PART I, LINE 3: INVESTMENTS ARE ACCOUNTED FOR IN THE ORGANIZATION'S FINANCIAL STATEMENTS USING THE FAIR MARKET VALUE OF EACH FUND PER EACH FUND'S INVESTMENTS STATEMENT. THE AMOUNT IN COLUMN (F) IS THE FAIR MARKET VALUE. PART III ACCOUNTING METHOD: NATURAL RESOURCE GOLF 59170 23500 35670 2688 4540 10758 3395 METALLURGICAL AND MATERIALS 39985 15900 24085 11815 7539 13 133893 5325 128568 8682 14606 5616 6972 233048 44725 188323 11370 30961 16374 17906 76611 111712 19531 4400 5690 1 0.85000 19531 4400 5690 10090 9441 MT 0 AS A 501C(3) IN MONTANA, WE ARE NOT REQUIRED TO OBTAIN LICENSING. 0 1 0 0.00000 1.00000 KYLEE HAMAKER 1300 W PART ST BUTTE MT 59701 0 KYLEE HAMAKER 0 OVERSEES THE DEPARTMENT AND CLUB RAFFLES. DEPOSITS FUNDS BROUGHT IT AND PAYS EXPENSES FROM FUND ACCOUNTS. X 0 1 MONTANA TECHNOLOGICAL UNIVERSITY 1300 W PARK STREET BUTTE MT 59701 816001654 STATE OF MONTANA 2608999 7276535 FMV ART, BOOKS, GOODS, INTELLECTUAL PROPERTY, COLLECTIBLES, EQUIPMENT, GIFTS STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS, AND PROGRAM DISTRIBUTIONS MONTANA TECH ALUMNI ASSOCIATION 1300 W PARK STREET BUTTE MT 59701 810388134 501(C)(3) 14602 0 GENERAL OPERATIONS 2 0 PART I, LINE 2: THE MONEY IS ONLY PAID TO THE UNIVERSITY AFTER THE ACTUAL EXPENSE HAS OCCURRED. FOR SCHOLARSHIPS AND PROFESSORSHIPS, THE UNIVERSITY INVOICES THE FOUNDATION AFTER THE FUNDS HAVE BEEN PAID TO THE STUDENT OR FACULTY. FOR CAPITAL EXPENDITURES, THE UNIVERSITY INVOICES THE FOUNDATION AFTER THE PURCHASE IS MADE. THE FOUNDATION DOES VERIFY THE USAGE IS CORRECT BEFORE THE FUNDS ARE DISTRIBUTED TO THE UNIVERSITY. X 14 3600 MARKET VALUE X 650 MARKET VALUE X 9524 MARKET VALUE X 1 6564992 MARKET VALUE X 15 622552 MARKET VALUE X EQUIPMENT 18 68198 MARKET VALUE X SMALL GIFTS 25 3993 MARKET VALUE X GIFT BASKETS 14 1595 MARKET VALUE X GIFT CARDS 17 1431 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, ITEM C DBA: MONTANA TECH FOUNDATION FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE COMMITTEE: SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD, THE EXECUTIVE COMMITTEE HAS GENERAL OVERSIGHT OVER ALL QUESTIONS AFFECTING THE POLICY, PROPERTY, STAFF AND GENERAL PURPOSES OF THE FOUNDATION, AND DURING INTERVALS BETWEEN MEETINGS OF THE BOARD, MAY EXERCISE THE POWER AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE PROPERTY AND AFFAIRS OF THE FOUNDATION, EXCEPT THE POWER TO ELECT DIRECTORS AND OFFICERS, AND THE POWER TO CHANGE THE BYLAWS OF THE FOUNDATION. THE EXECUTIVE COMMITTEE SHALL REGULARLY REPORT TO THE BOARD. WHEN DULY REPORTED TO THE BOARD, ACTS OF THE EXECUTIVE COMMITTEE SHALL STAND AS ACTS OF THE BOARD, UPON RATIFICATION BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 JON CHERRY AND SKYE CALLANTINE - FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED IN JUNE OF 2023 TO REFLECT THAT THE CEO WILL REPORT TO THE BOARD OF DIRECTORS AND WILL BE ALLOWED TO SERVE MORE THAN TWO YEARS IF APPROVED BY THE MAJORITY OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTING FIRM BASED ON DATA PROVIDED BY MANAGEMENT. ONCE A DRAFT IS AVAILABLE, IT WILL BE REVIEWED BY MANAGEMENT BEFORE BEING SENT TO THE BOARD. AN EMAIL WILL THEN BE SENT TO THE BOARD STATING THAT THE 990 IS AVAILABLE FOR REVIEW IN ONBOARD FOR THE NEXT 10 DAYS AT WHICH TIME THE 990 WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN AND DATE THE CONFLICT OF INTEREST POLICY AT THE BEGINNING OF THEIR TERM OF SERVICE AND EACH YEAR THEREAFTER. THE BOARD OF DIRECTORS DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS AND, IF SO THE BOARD VOTES TO AUTHORIZE OR REJECT THE TRANSACTION OR TAKE ANY OTHER ACTION DEEMED NECESSARY TO ADDRESS THE CONFLICT AND PROTECT BEST INTERESTS. BOARD ACTION WILL BE TAKEN AS THE RESULT OF A MAJORITY VOTE OF DISINTERESTED DIRECTORS. DELIBERATIONS ARE DOCUMENTED IN THE BOARD MEETING MINUTES. AN INTERESTED BOARD MEMBER, OFFICER, OR STAFF MEMBER CANNOT PARTICIPATE IN ANY DISCUSSION OR DEBATE OF THE BOARD OF DIRECTORS, OR OF ANY COMMITTEE OR SUBCOMMITTEE THEREOF IN WHICH THE SUBJECT OF DISCUSSION IS A CONTRACT, TRANSACTION, OR SITUATION IN WHICH THERE MAY BE A PERCEIVED OR ACTUAL CONFLICT OF INTEREST. HOWEVER, THEY MAY BE PRESENT TO PROVIDE CLARIFYING INFORMATION IN SUCH A DISCUSSION OR DEBATE UNLESS OBJECTED TO BY ANY PRESENT BOARD OR COMMITTEE MEMBER. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE ANNUITY 4,068. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -8,617. PASSTHROUGH INCOME -45,943. MONTANA TECHNOLOGICAL UNIVERSITY 1300 WEST PARK STREET BUTTE MT 59701 816001654 UNIVERSITY MT N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 MONTANA TECHNOLOGICAL UNIVERSITY O 45000 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY B 9885534 ACTUAL EXPENSE