2021-05-04T07:24:44-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2019-07-01 810250363 MONTANA TECH FOUNDATION MONT 4064964615 1300 WEST PARK STREET BUTTE MT 59701 JOE MCCLAFFERTY CEO 4064964615 2021-04-29 1 SARAH HINTZ P00492291 3037795710 2021-04-29 2019 2022-09-23 18:48:47Z X JOE MCCLAFFERTY 1300 WEST PARK STREET BUTTE MT 59701 21017627 0 X WWW.MTECH.EDU/FOUNDATION X 1967 MT ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY. 27 27 10 25 49538 0 4931606 5582489 200000 1003042 1048348 0 5934648 6830837 4321153 4056550 0 754959 741281 37507 80124 309330 1408887 889037 6522506 5766992 -587858 1063845 49610748 50088966 347609 1040232 49263139 49048734 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-LIKEMANNER IN ACCORDANCE WITH DONORS' WISHES. 0 0 5230971 4056550 200000 SEEK AND INSTITUTE BENEFITS, CONTRIBUTIONS, GIFTS AND GRANTS TO AID AND ASSIST MONTANA TECHNOLOGICAL UNIVERSITY. 5230971 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 24 0 1 10 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 AZ AR CA CO KY LA ME MD MA MI MN MO NH NJ NY NC OH OK OR OR SC UT WA WI X X DEANNA JOHNSON 4064964615 1300 WEST PARK STREET BUTTE MT 59701 JOE MCCLAFFERTY CEO 1.00 40.00 X 0 142940 23424 MICHAEL BARTH EXECUTIVE DIRECTOR 40.00 0.00 X 107851 0 26634 DEANNA JOHNSON CFO 40.00 0.00 X 85861 0 29024 PAT O'BRIEN BOARD CHAIR 1.00 0.00 X X 0 0 0 NICK DIGIOVINE VICE CHAIR / CHAIR 1.00 0.00 X X 0 0 0 BRYAN LARSON DIRECTOR / VICE CHAIR 1.00 0.00 X X 0 0 0 DAN MANSON TREASURER 1.00 0.00 X X 0 0 0 SUNDRA ANDERSON SECRETARY THRU 06/20 1.00 0.00 X X 0 0 0 TOM HOHN DIRECTOR / SECRETARY 1.00 0.00 X X 0 0 0 KATHY ARNOLD DIRECTOR 1.00 0.00 X 0 0 0 TOM BANDY DIRECTOR THRU 06/20 1.00 0.00 X 0 0 0 HALEY BEAUDRY DIRECTOR THRU 06/20 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 MARK ERICKSON DIRECTOR 1.00 0.00 X 0 0 0 BILL HENNE DIRECTOR THRU 05/20 1.00 0.00 X 0 0 0 ERIC JACOBSEN DIRECTOR 1.00 0.00 X 0 0 0 RYAN LANCE DIRECTOR THRU 06/20 1.00 0.00 X 0 0 0 JONNA LASLOVICH DIRECTOR AS OF 06/20 1.00 0.00 X 0 0 0 MARY ELLEN LUTEY DIRECTOR THRU 06/20 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 AS OF 05/20 1.00 0.00 X 0 0 0 ADAM SAYERS DIRECTOR 1.00 0.00 X 0 0 0 MARTY SCHUMA 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 AS OF 06/20 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 JOSH VINCENT DIRECTOR 1.00 0.00 X 0 0 0 SEAN WOOLVERTON DIRECTOR 1.00 0.00 X 0 0 0 193712 142940 79082 1 0 1 0 0 5582489 1040414 5582489 CONTRACT AGREEMENT MT 990099 200000 200000 200000 165515 49538 115977 15069623 14186790 882833 882833 882833 6830837 200000 49538 998810 4056550 4056550 344718 282006 27036 35676 287356 200986 30172 56198 23395 16538 2418 4439 9437 5698 1193 2546 76375 58033 6986 11356 743 743 13973 13973 80124 80124 63806 63806 74644 37476 14157 23011 44186 33574 4042 6570 91637 69630 8382 13625 23190 17621 2121 3448 161908 123025 14810 24073 12106 9199 1107 1800 263 263 57936 44023 5299 8614 7160 7160 ENTERTAINMENT 146346 111201 13386 21759 OTHER 94365 71703 8632 14030 SUPPLIES 82912 82912 REPAIRS 13862 10533 1268 2061 5766992 5230971 226691 309330 530297 563229 3468208 4082298 1140765 1693045 12500 7751 360791 2433281 429888 2057959 2003393 40328753 39353239 1870230 1754003 206785 266468 49610748 50088966 124614 391436 301889 222995 346907 347609 1040232 X 2304820 2396008 46958319 46652726 49263139 49048734 49610748 50088966 X 1063845 -1241042 -37208 X X 0 1 X 1 0 X 6930270 6574081 6855125 4931606 5582489 30873571 6930270 6574081 6855125 4931606 5582489 30873571 4246027 26627544 365064 335259 406929 389889 165515 1662656 10000 45000 50000 23000 128000 32664227 200000 0.81520 0.78740 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 10,000. 2016 AMOUNT: $ 45,000. 2017 AMOUNT: $ 50,000. 2018 AMOUNT: $ 23,000. 2019 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 42894396 1662704 -165798 2291079 42100223 45194657 4507117 1792928 8600306 42894396 45496491 5611788 1907484 7821106 45194657 40723802 5123125 4651297 5001733 45496491 41365962 6339041 -865181 6116020 40723802 0.01500 0.88000 0.10500 1 0 18996 18996 2306447 349805 1956642 107838 80083 27755 2003393 NOTES PAYABLE 346907 346907 5488781 -1241042 -37208 -1278250 6767031 63806 63806 6830837 5703186 0 5703186 63806 63806 5766992 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 4,667. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -41,875. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 827713 0 0 0 0 0 0 827713 0 827713 1 0 1 1 0 0 PART III ACCOUNTING METHOD: X X X X X 0 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 PHONATHON 0 114177 80124 34053 114177 80124 34053 AK AR CA CO KY LA ME MD MA MI MN MO NH NJ NY NC OH OK OR SC UT WA WI 1 MONTANA TECHNOLOGICAL UNIVERSITY 1300 WEST PARK STREET BUTTE MT 59701 816001654 STATE OF MONTANA 4020546 0 N/A N/A STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS AND PROGRAM DISTRIBUTIONS. SAFE SPACE PO BOX 594 BUTTE MT 59703 810394077 501(C)(3) 36004 0 N/A N/A FINANCIAL ASSISTANCE TO CLIENTS IN THE FORM OF GAS CARDS, HOTEL ROOM (WHEN NECESSARY), BUS TICKETS, PHONE, CARDS, MEDICATION, AND TO PURCHASE FOOD. 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. 0 0 0 0 0 0 0 0 0 JOE MCCLAFFERTY CEO 0 142940 0 0 0 0 0 7730 0 15694 0 166364 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 4 11529 FMV ON DATE OF GIFT X 180 FMV ON DATE OF GIFT X 12581 FMV ON DATE OF GIFT X 1 1500 FMV ON DATE OF GIFT X 477805 474078 FMV ON DATE OF GIFT X 9 2199 FMV ON DATE OF GIFT X 1 100 FMV ON DATE OF GIFT X 1 750 FMV ON DATE OF GIFT X 1 1500 FMV ON DATE OF GIFT X EQUIPMENT 7 528472 FMV ON DATE OF GIFT X GIFT CERT. 41 4267 DONOR VALUES X TICKETS/EVENTS/GREEN FEES 8 1918 FMV ON DATE OF GIFT X OTHER 9 1115 FMV ON DATE OF GIFT X GIFT BASKETS 4 225 FMV ON DATE OF GIFT 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS. PAGE 1, SECTION B MONTANA TECH FOUNDATION CHANGED THEIR NAME TO MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION AFTER THE FISCAL YEAR ENDED ON OCTOBER 26, 2020. THE NAME CHANGE REQUEST HAS BEEN SUBMITTED TO THE IRS AND WILL BE REFLECTED ON THE 990 IN THE TAX YEAR ENDING THAT IT OCCURRED, JUNE 30, 2021. 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 CALLENTINE - 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 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. 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 4,667. CHANGE IN VALUE IN SPLIT INTEREST AGREEMENT -41,875. PAGE 1, SECTION B THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNT HAS NOT CHANGED FROM THE PRIOR YEAR. MONTANA TECHNOLOGICAL UNIVERSITY 1300 WEST PARK STREET BUTTE MT 59701 816001654 UNIVERSITY MT LINE 2 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 P 184482 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY O 113819 ACTUAL EXPENSE MONTANA TECHNOLOGICAL UNIVERSITY B 4031550 ACTUAL EXPENSE