2023-05-10T19:10:13-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2021-07-01 810250363 MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION MONT 4064964615 1300 WEST PARK STREET BUTTE MT 59701 JAIME HEPPLER CEO 4064964615 2023-05-04 1 JAIME HEPPLER XXX-XX-XXXX SARAH HINTZ P00492291 3037795710 2023-05-04 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MONTANA TECH FOUNDATION JAIME HEPPLER 1300 WEST PARK STREET BUTTE MT 59701 27874691 0 X FOUNDATION.MTECH.EDU X 1967 MT ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY. 23 23 25 40 169901 134965 5272671 11942364 200000 100000 2431226 1104690 83291 34035 7987188 13181089 3223805 5218583 0 0 734239 704705 39582 0 602176 885271 1270230 4882897 7193518 3104291 5987571 62802705 66302899 945067 675979 61857638 65626920 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 5888811 5218583 100000 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. 5888811 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 27 0 1 25 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA KY LA MD MA MI MN NH NJ NY NC ND OR SC UT WI X X DEANNA JOHNSON 4064964615 1300 WEST PARK STREET BUTTE MT 59701 NICK DIGIOVINE BOARD CHAIR 1.00 0.00 X X 0 0 0 BRYAN LARSON VICE CHAIR 1.00 0.00 X X 0 0 0 TOM HOHN SECRETARY 1.00 0.00 X X 0 0 0 JOSH VINCENT TREASURER 1.00 0.00 X X 0 0 0 KATHY ARNOLD DIRECTOR 1.00 0.00 X 0 0 0 DAVE BURGER DIRECTOR 1.00 0.00 X 0 0 0 SKYE CALLANTINE DIRECTOR 1.00 0.00 X 0 0 0 JON CHERRY DIRECTOR 1.00 0.00 X 0 0 0 GARY KOLSTAD DIRECTOR 1.00 0.00 X 0 0 0 JONNA LASLOVICH DIRECTOR 1.00 0.00 X 0 0 0 LEO MCCARTHY DIRECTOR 1.00 0.00 X 0 0 0 PAT MCCARTHY DIRECTOR 1.00 0.00 X 0 0 0 MIKE MCGIVERN DIRECTOR 1.00 0.00 X 0 0 0 BOB MORRIS DIRECTOR 1.00 0.00 X 0 0 0 MAGGIE PETERSON DIRECTOR 1.00 0.00 X 0 0 0 ADAM SAYERS DIRECTOR 1.00 0.00 X 0 0 0 ROCKY SEALE DIRECTOR 1.00 0.00 X 0 0 0 BOB SHEPHERD DIRECTOR 1.00 0.00 X 0 0 0 BRIAN SMYTH DIRECTOR 1.00 0.00 X 0 0 0 STEPHANIE SORINI DIRECTOR 1.00 0.00 X 0 0 0 TIM SULSER DIRECTOR 1.00 0.00 X 0 0 0 MIKE THATCHER DIRECTOR 1.00 0.00 X 0 0 0 SEAN WOOLVERTON DIRECTOR 1.00 0.00 X 0 0 0 JOE MCCLAFFERTY CEO (THRU 1/31/22) 1.00 40.00 X 0 133256 25130 MICHAEL BARTH EXECUTIVE DIRECTOR (THRU 3/31/22) 40.00 0.00 X 119224 0 29224 DEANNA JOHNSON CFO 40.00 0.00 X 92635 0 32970 211859 133256 87324 2 0 1 0 0 479111 124007 11339246 349472 11942364 CONTRACT AGREEMENT MT 561499 100000 100000 100000 19185 -49128 68313 15623343 14537838 1085505 1085505 219029 866476 181299 479111 150769 30530 30530 8500 4995 3505 3505 13181089 100000 169901 968824 5197493 5197493 21090 21090 332868 170169 162699 243399 100979 142420 27311 8851 18460 5132 5132 95995 43234 52761 54592 54592 103146 103146 166587 96948 69639 22755 2080 13781 6894 177169 130732 46437 149718 9213 8194 132311 9942 9527 415 105460 91474 13986 11583 9749 1834 236 236 167615 99374 25780 42461 17818 141 17677 ENTERTAINMENT 125125 120273 4852 DONOR/BOARD GIFTS 122487 87287 3469 31731 DUES & SUBSCRIPTIONS 14448 7919 6529 REPAIRS & MAINTENANCE 10508 234 2967 7307 11041 5041 6000 7193518 5888811 702531 602176 354061 1151588 5807336 5035174 1602640 1813209 0 28500 274631 195721 2434110 651471 1949127 1782639 50407583 54243616 2191795 1832852 215532 219600 62802705 66302899 229680 312986 561460 340896 153927 22097 945067 675979 X 2488804 2364185 59368834 63262735 61857638 65626920 62802705 66302899 X 5987571 -2360332 142043 X X 0 1 X 1 0 X 6855125 4931606 5582489 5272671 11942364 34584255 6855125 4931606 5582489 5272671 11942364 34584255 3803307 30780948 456566 412889 115977 67655 68142 1121229 363 49538 33291 34035 117227 35822711 562295 0.85930 0.86680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52092737 8981096 -1020439 2690456 57362938 42100223 1525169 11541888 3074543 52092737 42894396 1662704 -165798 2291079 42100223 45194657 4507117 1792928 8600306 42894396 45496491 5611788 1907484 7821106 45194657 0.01242 0.82000 0.16758 1 0 18996 18996 2306447 551618 1754829 108667 99853 8814 1782639 NOTES PAYABLE 22097 22097 11057873 -2360332 42455 142043 -2175834 13233707 103146 -155764 -52618 13181089 7288591 42455 155764 198219 7090372 103146 103146 7193518 PART V, LINE 4: THE ORGANIZATION USES ENDOWMENT FUNDS TO GENERATE INCOME FROM INVESTMENTS TO SUPPORT THE COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: APPREC. LDN LIFE INS. ANNUITY 4,068. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT 137,975. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -150,769. GAMING EXPENSE -4,995. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 150,769. GAMING EXPENSE 4,995. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS N/A 5964174 0 0 0 0 0 0 5964174 0 5964174 1 0 0 0 0 0 PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (F): THE ACCOUNTING METHOD USED IS ACCRUAL. NATURAL RESOUCE GOLF 99969 78942 21027 2856 10442 10584 3840 DIGGER ONLINE AUCTION 412898 303720 109178 20591 18747 27550 7 144720 96449 48271 8078 4905 12194 20130 9319 657587 479111 178476 28669 7761 41383 30714 40709 149236 29240 1 MONTANA TECHNOLOGICAL UNIVERSITY 1300 WEST PARK STREET BUTTE MT 59701 816001654 STATE OF MONTANA 4494438 137350 FMV SUPPLIES & MINING EQUIPMENT STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS AND PROGRAM DISTRIBUTIONS. DIGGER ATHLETIC ASSOCIATION 1300 WEST PARK STREET BUTTE MT 59701 237010408 501C3 135000 54961 FMV AUCTION ITEMS GENERAL OPERATIONS MONTANA TECH ALUMNI ASSOCIATION 1300 WEST PARK STREET BUTTE MT 59701 810388134 501C3 19893 0 N/A N/A GENERAL OPERATIONS 3 0 ROSE AND ANNA BUSCH AWARD 6 6000 0 N/A N/A CHANCELLORS AWARD 2 2000 0 N/A N/A STIPENDS 3 6000 0 N/A N/A EVENT PRIZES 2 740 0 N/A N/A TECH XPO AWARD 23 5000 0 N/A N/A IEO SCHOLARSHIPS 4 1350 0 N/A N/A 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 0 0 0 0 0 0 0 0 0 JOE MCCLAFFERTY CEO (THRU 1/31/22) 0 133256 0 0 0 0 0 8068 0 17062 0 158386 0 0 PART I, LINE 3 THE CEO IS AN EMPLOYEE OF THE MONTANA TECHNOLOGICAL UNIVERSITY. COMPENSATION AND BENEFITS ARE DETERMINED BY THE BOARD OF REGENTS OF THE STATE OF MONTANA. THE FOLLOWING WERE USED IN DETERMINING THE CEO'S COMPENSATION: A) COMPENSATION SURVEY OR STUDY B) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE X 17 6889 DONOR VALUES X 5635 DONOR VALUES X 18502 DONOR VALUES X 9 253827 MARKET VALUE X 17 4024 DONOR VALUES X EQUIPMENT 5 43949 DONOR VALUES X SUPPLIES 11 9620 DONOR VALUES X GIFT BASKETS 46 5632 DONOR VALUES X GIFT CERTIFICATES 6 1394 DONOR VALUES 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS. 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 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 SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS AND, IF SO THE BOARD SHALL VOTE 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 SHALL NOT 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 B, LINE 15A THE PROCESS FOR DETERMINING EXECUTIVE COMPENSATION IS AS FOLLOWS: THE CEO IS AN EMPLOYEE OF THE MONTANA TECHNOLOGICAL UNIVERSITY. COMPENSATION AND BENEFITS ARE DETERMINED BY THE BOARD OF REGENTS OF THE STATE OF MONTANA. THE BOARD OF THE FOUNDATION DETERMINES AND APPROVES THE PERCENTAGE OF THE CEO'S WAGE TO REIMBURSE MONTANA TECHNOLOGICAL UNIVERSITY. PERIODICALLY THE BOARD WILL AWARD THE CEO WITH A PERFORMANCE BONUS. THE BOARD OF REGENTS HAS TO APPROVE THE PERFORMANCE BONUS, WHICH IS CHARGED 100% TO THE FOUNDATION. THE CEO SETS COMPENSATION FOR ALL OTHER FOUNDATION MANAGEMENT AND EMPLOYEES. THE EXECUTIVE DIRECTOR AND CFO'S COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST REVIEWED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: APPREC. LDN LIFE INS. ANNUITY 4,068. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT 137,975. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED. 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 1 0 1 1 1 0 1 0 MONTANA TECHNOLOGICAL UNIVERSITY L 100000 FMV MONTANA TECHNOLOGICAL UNIVERSITY O 87535 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY B 4494438 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY P 149200 ACTUAL EXPENSE