Form 990 for tax year 2023
Filed by PORTLAND REGIONAL EDUCATIONAL TELECOMMUNICATIONS CORPORATION.
Totals
- Total revenue
- $716,148
- Total expenses
- $460,560
- Contributions and grants received
- $0
- Grants paid
- $172,000
- Program service revenue
- $0
- Investment income
- $119,897
- Other revenue
- $596,251
- Total assets, end of year
- $7,672,062
- Total liabilities, end of year
- $71,670
- Net assets or fund balances, end of year
- $7,600,392
- Program services expenses (Part IX)
- $204,126
- Management and general expenses
- $256,434
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $204,126
Program services were 44.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
3 · Investment income
total $127,612 · excluded $127,612
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $600,838 · excluded $600,838
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $2,449,518
-
7b · Less cost or other basis and sales expenses
securities $2,457,233
-
7c · Gain or loss
securities -$7,715
-
7d · Net gain or loss
total -$7,715 · excluded -$7,715
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: K-1 ROSE AFFORDABLE HOUSING
total $80 · unrelated business $80
-
11b · Other revenue: OTHER REVENUE
-
11d · All other revenue
total -$4,667 · unrelated business -$4,667
-
11e · Other revenue, total
-$4,587
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $172,000 · program services $172,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $131,415 · program services $11,827 · management and general $119,588
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $7,529 · program services $678 · management and general $6,851
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $35,654 · management and general $35,654
-
11c · Fees: accounting
total $4,000 · management and general $4,000
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $31,152 · management and general $31,152
-
11g · Fees: other
total $45,703 · management and general $45,703
-
12 · Advertising and promotion
total $19,987 · program services $18,882 · management and general $1,105
-
13 · Office expenses
total $2,879 · management and general $2,879
-
14 · Information technology
total $3,562 · management and general $3,562
-
15 · Royalties
total $0
-
16 · Occupancy
total $4,024 · management and general $4,024
-
17 · Travel
total $739 · program services $739
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $476 · management and general $476
-
24a · Other expenses: LICENSES & PERMITS
total $1,193 · management and general $1,193
-
24b · Other expenses: BANK FEES
total $247 · management and general $247
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $177,123 · end of year $316,662
-
2 · Savings and temporary cash investments
beginning of year $481,807 · end of year $149,514
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $22 · end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $5,564,456 · end of year $6,374,983
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $402,344 · end of year $827,318
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $1,524 · end of year $3,585
-
17 · Accounts payable and accrued expenses
beginning of year $48,128 · end of year $21,559
-
19 · Deferred revenue
beginning of year $50,011 · end of year $50,111
-
27 · Net assets without donor restrictions
beginning of year $6,529,137 · end of year $7,600,392
Mission and programs · 2023
Mission
PORTLAND REGIONAL EDUCATIONAL TELECOMMUNICATIONS CORPORATION (PRETC) IS ORGANIZED AND WILL BE OPERATED EXCLUSIVELY FOR "CHARITABLE, SCIENTIFIC AND EDUCATION AND SOCIAL WELFARE" PURPOSES WITHIN THE MEANING OF SECTIONS 501(C)3 AND 501(C)4, RESPECTIVELY, OR THE INTERNAL REVENUE CODE. TO THIS END, THE NONPROFIT SHALL UNDERTAKE ACTIVITIES TO: Transmit educational programming in the greater Portland area using frequencies regulated by the Federal Communications Commission. PRETC focuses on philanthropic initiatives through the Oregon Raindrop Fund that advance social justice and equity, and that work to bridge the digital divide.
-
GRANTMAKING - In FY24, grants ranged from $5,000 to $30,000, and with 8 grants totaling $172,000. Grants were provided to 501(c)(3) organizations, 501(c)(4) organizations, and political action committees registered in Oregon, with applicable tax liability for all grants in support of political campaign activities.
Expenses $172,000 · Grants $172,000
-
DIGITAL DIVIDE INITIATIVE: PRETC relocated management to Oregon and established philanthropic initiatives under the name Oregon Raindrop Fund (ABN #1985537-95; www.oregonraindrop.org). Oregon Raindrop Fund envisions a socially equitable and just world, with an empowered, well-informed public, actively engaged in a thriving democracy. Through the Progress Initiative we provide grants to progressive causes, organizations, and leaders that realize meaningful impacts toward economic and social justice. Grantmaking includes support for fair and just participation in the democratic process. Support for civic engagement efforts focused on voter registration, education, and mobilization. Support to identify, develop, and elect political leaders who are committed to progressive issues. And support for grassroots advocacy and outreach that realizes impacts on a wide range of progressive issues.
Expenses $32,126
As filed on the 2023 return.
Listed in Part VII
-
John LangJOHN LANG
FMR EXECUTIVE DIRECTOR
- Total calculated
- $110,556
- From this org
- $110,556
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $110,556
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $110,556
-
Jonathan Duke ShepardJONATHAN DUKE SHEPARD
INT EXEC DIR
- Total calculated
- $11,250
- From this org
- $11,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
John SchwartzJOHN SCHWARTZ
Director & PRES
- Total calculated
- $0
- Hours/week
- 1
-
Thom HartmannTHOM HARTMANN
Vice President
- Total calculated
- $0
- Hours/week
- 1
-
Thomas NeuburgerTHOMAS NEUBURGER
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Kari ChisholmKARI CHISHOLM
Director & PRES
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth SmithELIZABETH SMITH
Executive Dir
- Total calculated
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$30,000
CORE SUPPORT
-
$30,000
CORE SUPPORT
-
$25,000
CORE SUPPORT
-
$25,000
CORE SUPPORT
-
$25,000
CORE SUPPORT
-
$25,000
CORE SUPPORT
-
CORE SUPPORT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 10 December 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413479349300316
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