2022-04-13T17:05:38-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2020-07-01 810250363 MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION MONT 4064964615 1300 WEST PARK STREET BUTTE MT 59701 DEANNA JOHNSON CHIEF FINANCIAL OFFICER 4064964615 2022-04-12 1 DEANNA JOHNSON XXX-XX-XXXX SARAH HINTZ P00492291 3037795710 2022-04-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOE MCCLAFFERTY 1300 WEST PARK STREET BUTTE MT 59701 18936710 0 X WWW.MTECH.EDU/FOUNDATION X 1967 MT ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY. 23 23 7 50 36079 0 5582489 5272671 200000 200000 1048348 2431226 0 83291 6830837 7987188 4056550 3223805 0 0 741281 734239 80124 39582 117078 889037 885271 5766992 4882897 1063845 3104291 50088966 62802705 1040232 945067 49048734 61857638 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 4567067 3223805 250000 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 680 STUDENTS AND $1.7 MILLION TO ASSIST DEPARTMENTS WITH PURCHASES OF EQUIPMENT, SUPPLIES AND FACULTY SUPPORT. 4567067 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 1 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 22 0 1 7 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 X 23 23 1 0 1 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 CA KY MD MA MI MN NH NJ NY NC OR SC UT WI X X DEANNA JOHNSON 4064964615 1300 WEST PARK STREET BUTTE MT 59701 JOE MCCLAFFERTY CEO 1.00 40.00 X 0 136618 24897 MICHAEL BARTH EXECUTIVE DIRECTOR 40.00 0.00 X 107851 0 27530 DEANNA JOHNSON CFO 40.00 0.00 X 85861 0 32147 NICK DIGIOVINE BOARD CHAIR 1.00 0.00 X X 0 0 0 JOSH VINCENT TREASURER AS OF 06/21 1.00 0.00 X X 0 0 0 BRYAN LARSON VICE CHAIR 1.00 0.00 X X 0 0 0 DAN MANSON TREASURER THRU 06/21 1.00 0.00 X X 0 0 0 TOM HOHN SECRETARY 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 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 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 MAGGIE PETERSON DIRECTOR 1.00 0.00 X 0 0 0 193712 136618 84574 1 0 1 0 0 24260 5248411 425184 5272671 CONTRACT AGREEMENT MT 900099 200000 200000 200000 11773 -55882 67655 13202951 113800 10897298 0 2305653 113800 2419453 91961 2327492 85515 24260 52224 33291 33291 BAD DEBT REFUND 900099 50000 50000 50000 7987188 250000 36079 2428438 3223805 3223805 367419 306258 25866 35295 254474 254474 26417 26417 9725 9725 76204 69122 2995 4087 7021 7021 33159 33159 39582 39582 84481 84481 133348 117274 6798 9276 18663 16928 734 1001 64975 58935 2553 3487 160073 145195 6292 8586 8414 7632 331 451 27046 24532 1063 1451 7774 7051 306 417 250 250 58093 52693 2284 3116 17299 17299 MINOR EQUIPMENT 96767 87773 3804 5190 SUPPLIES 96068 96068 ENTERTAINMENT 48255 41542 2839 3874 REPAIRS 22296 20224 876 1196 1289 1169 51 69 4882897 4567067 198752 117078 803063 354061 3842464 5807336 1693045 1602640 12500 0 360791 274631 2437108 487981 2003393 1949127 39353239 50407583 1754003 2191795 266468 215532 50088966 62802705 391436 229680 301889 561460 346907 153927 1040232 945067 X 2396008 2488804 46652726 59368834 49048734 61857638 50088966 62802705 X 3104291 9757185 -52572 X X 0 1 X 1 0 X 6619081 6855125 4931606 5582489 5272671 29260972 6619081 6855125 4931606 5582489 5272671 29260972 2621491 26639481 335259 456566 412889 115977 67655 1388346 0 363 0 49538 33291 83192 30732510 798704 0.86680 0.81520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42100223 1525169 11541888 3074543 52092737 42894396 1662704 -165798 2291079 42100223 45194657 4507117 1792928 8600306 42894396 45496491 5611788 1907484 7821106 45194657 40723802 5123125 4651297 5001733 45496491 0.01440 0.74050 0.24510 1 0 18996 18996 2306447 395939 1910508 111665 92042 19623 1949127 NOTES PAYABLE 153927 153927 17609544 9757185 -52572 9704613 7904931 84481 -2224 82257 7987188 4800640 2224 2224 4798416 84481 84481 4882897 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 4,081. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -56,653. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -52,224. BAD DEBT REFUND 50,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 52,224. BAD DEBT REFUND -50,000. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5616100 0 0 0 0 0 0 5616100 0 5616100 1 0 0 1 0 0 PART III ACCOUNTING METHOD: X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOK PKWY SW CEDAR RAPIDS IA 52404 PHONATHON AND ANNUAL GIVING CAMPAIGN 0 66425 39582 26843 66425 39582 26843 AK CA CO KY LA ME MD MA MI MN MO NV NH NJ NY NC ND OH OK OR SC UT WA WI NATURAL RESOUCE GOLF 55053 55053 2180 7947 10040 3807 DIGGER ONLINE AUCTION 52510 24260 28250 28250 107563 24260 83303 28250 2180 7947 10040 3807 52224 31079 1 MONTANA TECHNOLOGICAL UNIVERSITY 1300 WEST PARK STREET BUTTE MT 59701 816001654 STATE OF MONTANA 3112220 14136 FMV SUPPLIES AND MINING EQUIPMENT STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS AND PROGRAM DISTRIBUTIONS. DIGGER ATHLETIC ASSOCIATION 1300 WEST PARK STREET BUTTE MT 59701 237010408 501C3 24260 28250 FMV AUCTION ITEMS GENERAL OPERATIONS MONTANA TECH ALUMNI ASSOCIATION 1300 WEST PARK STREET BUTTE MT 59701 810388134 501C3 18102 N/A GENERAL OPERATIONS 3 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 0 0 0 0 0 0 0 0 0 JOE MCCLAFFERTY CEO 0 136618 0 0 0 0 0 8303 0 16594 0 161515 0 0 FORM 990, PART VI, LINE 15 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. X 7 650 DONOR VALUES X 4944 DONOR VALUES X 5750 DONOR VALUES X 2 4700 DONOR VALUES X 390712 382798 AVE VALUE DATE OF GIFT X 8 1300 DONOR VALUES X 1 800 DONOR VALUES X TICKETS/EVENTS/GREEN FEES 20 17600 DONOR VALUES X SERVICES 5 2031 DONOR VALUES X SUPPLIES 2 1900 DONOR VALUES X EQUIPMENT 3 1400 DONOR VALUES X GIFT BASKETS 6 620 DONOR VALUES X GIFT CERTIFICATES 9 481 DONOR VALUES X HOTEL STAYS 2 210 DONOR VALUES 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1 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 ORGANIZATION AMENDED ITS GOVERNING DOCUMENTS FOR NAME CHANGE TO MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION. THE NAME CHANGE WAS IMMEDIATELY FILED WITH THE IRS AFTER THE JUNE 30, 2020 FISCAL YEAR END. 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 12 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. FORM 990, PART VI, SECTION B, LINE 15 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. 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 4,081. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -56,653. 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 200000 FMV MONTANA TECHNOLOGICAL UNIVERSITY O 113819 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY B 3126356 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY P 171909 ACTUAL EXPENSE