Form 990 for tax year 2023
Filed by MONTANA TECHNOLOGICAL UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $9,836,871
- Total expenses
- $6,319,952
- Contributions and grants received
- $7,509,781
- Grants paid
- $3,359,198
- Program service revenue
- $0
- Investment income
- $2,109,833
- Other revenue
- $217,257
- Total assets, end of year
- $109,611,447
- Total liabilities, end of year
- $383,826
- Net assets or fund balances, end of year
- $109,227,621
- Program services expenses (Part IX)
- $4,384,430
- Management and general expenses
- $865,865
- Fundraising expenses
- $1,069,657
- Program service expenses (Part III)
- $4,384,430
Program services were 69.4% 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.
-
1c · Fundraising events
$67,740
-
1f · All other contributions, gifts and grants
$7,442,041
-
1g · Noncash contributions included above
$613,478
-
3 · Investment income
total $328,232 · excluded $328,232
-
7a · Gross sales of assets other than inventory
securities $16,529,499
-
7b · Less cost or other basis and sales expenses
securities $14,747,898
-
7c · Gain or loss
securities $1,781,601
-
7d · Net gain or loss
total $1,781,601 · excluded $1,781,601
-
8a · Fundraising events: gross income
$285,232
-
8a · Fundraising events: contributions included on line 1c
$67,740
-
8b · Fundraising events: direct expenses
$106,641
-
8c · Net income from fundraising events
total $178,591 · excluded $178,591
-
9a · Gaming: gross income
$29,581
-
9b · Gaming: direct expenses
$14,045
-
9c · Net income from gaming
total $15,536 · excluded $15,536
-
11a · Other revenue: PASSTHROUGH INCOME
total $23,130 · unrelated business $23,130
-
11e · Other revenue, total
$23,130
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,359,198 · program services $3,359,198
-
5 · Compensation of officers, directors and key employees
total $493,166 · management and general $195,406 · fundraising $297,760
-
6 · Compensation of disqualified persons
total $82,818 · management and general $82,818
-
7 · Other salaries and wages
total $325,103 · management and general $4,054 · fundraising $321,049
-
8 · Pension plan contributions
total $27,733 · management and general $349 · fundraising $27,384
-
9 · Other employee benefits
total $125,068 · management and general $51,468 · fundraising $73,600
-
10 · Payroll taxes
total $60,235 · management and general $19,686 · fundraising $40,549
-
11b · Fees: legal
total $150 · management and general $150
-
11c · Fees: accounting
total $68,959 · program services $3,270 · management and general $65,689
-
11f · Fees: investment management
total $142,250 · management and general $142,250
-
11g · Fees: other
total $222,395 · program services $78,832 · management and general $85,993 · fundraising $57,570
-
12 · Advertising and promotion
total $19,402 · program services $16,142 · management and general $500 · fundraising $2,760
-
13 · Office expenses
total $283,014 · program services $204,242 · management and general $58,445 · fundraising $20,327
-
14 · Information technology
total $169,654 · program services $6,148 · management and general $44,908 · fundraising $118,598
-
17 · Travel
total $195,508 · program services $152,516 · management and general $3,136 · fundraising $39,856
-
19 · Conferences, conventions and meetings
total $43,116 · program services $36,810 · management and general $87 · fundraising $6,219
-
20 · Interest
total $584 · program services $584
-
22 · Depreciation, depletion and amortization
total $61,076 · program services $36,982 · management and general $11,649 · fundraising $12,445
-
23 · Insurance
total $19,502 · program services $562 · management and general $18,940
-
24a · Other expenses: ENTERTAINMENT
total $291,685 · program services $271,710 · management and general $9,042 · fundraising $10,933
-
24b · Other expenses: REPAIRS & MAINTENANCE
total $143,524 · program services $122,594 · management and general $20,930 · fundraising $0
-
24c · Other expenses: GIFTS
total $112,396 · program services $78,182 · management and general $3,066 · fundraising $31,148
-
24d · Other expenses: DUES & SUBSCRIPTIONS
total $22,430 · program services $10,381 · management and general $5,229 · fundraising $6,820
-
24e · All other expenses
total $50,986 · program services $6,277 · management and general $42,070 · fundraising $2,639
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,032,600 · end of year -$7,083
-
2 · Savings and temporary cash investments
beginning of year $5,643,050 · end of year $5,178,420
-
3 · Pledges and grants receivable
beginning of year $24,034,935 · end of year $15,586,875
-
4 · Accounts receivable
beginning of year $0 · end of year $121,532
-
9 · Prepaid expenses and deferred charges
beginning of year $137,800 · end of year $121,512
-
10a · Land, buildings and equipment: cost or other basis
$2,648,360
-
10b · Land, buildings and equipment: accumulated depreciation
$774,430
-
10c · Land, buildings and equipment, net
beginning of year $1,737,259 · end of year $1,873,930
-
11 · Investments: publicly traded securities
beginning of year $65,662,289 · end of year $84,434,420
-
12 · Investments: other securities
beginning of year $1,915,631 · end of year $2,073,950
-
15 · Other assets
beginning of year $223,668 · end of year $227,891
-
17 · Accounts payable and accrued expenses
beginning of year $246,586 · end of year $181,932
-
23 · Secured mortgages and notes payable
beginning of year $66,799 · end of year $0
-
25 · Other liabilities
beginning of year $214,383 · end of year $201,894
-
27 · Net assets without donor restrictions
beginning of year $2,242,968 · end of year $2,139,945
-
28 · Net assets with donor restrictions
beginning of year $97,616,496 · end of year $107,087,676
Mission and programs · 2023
Mission
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.
Activities or mission (Part I)
ADVANCE THE TEACHING, RESEARCH, AND PUBLIC SERVICE ENDEAVORS OF MONTANA TECHNOLOGICAL UNIVERSITY.
-
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 $1.8 MILLION IN SCHOLARSHIPS TO 551 STUDENTS AND $2.6 MILLION TO ASSIST DEPARTMENTS WITH PURCHASES OF EQUIPMENT, SUPPLIES AND FACULTY SUPPORT.
Expenses $4,384,430 · Grants $3,359,198
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jaime HepplerJAIME HEPPLER
CHIEF EXECUTIVE OFFICER
- Total calculated
- $234,596
- From this org
- $190,593
- From related orgs
- $0
- Other
- $44,003
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $179,375
- Bonus
- $10,558
- Other
- $660
- Deferred
- $16,523
- Nontaxable benefits
- $27,480
- Filer's total
- $234,596
-
Luke MeyerLUKE MEYER
VICE PRESIDENT OF DEVELOPMENT
- Total calculated
- $178,626
- From this org
- $142,361
- From related orgs
- $0
- Other
- $36,265
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,500
- Bonus
- $6,201
- Other
- $660
- Deferred
- $14,905
- Nontaxable benefits
- $21,360
- Filer's total
- $178,626
-
Lance J AllenLANCE J ALLEN
CHIEF FINANCIAL OFFICER
- Total calculated
- $10,517
- From this org
- $10,517
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Bob ShepherdBOB SHEPHERD
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Bryan LarsonBRYAN LARSON
OUTGOING CHAIR (THRU 2/24)
- Total calculated
- $0
- Hours/week
- 1
-
Josh VincentJOSH VINCENT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kristen MansonKRISTEN MANSON
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Jerri DoyleJERRI DOYLE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Nicki Miller HoustonNICKI MILLER HOUSTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kathy ArnoldKATHY ARNOLD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dave BurgerDAVE BURGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bill DailyBILL DAILY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jon CherryJON CHERRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gary KolstadGARY KOLSTAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jonna LaslovichJONNA LASLOVICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Leo McCarthyLEO MCCARTHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dennis GarbarinoDENNIS GARBARINO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Leo McArthyLEO MCARTHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
-
MONTANA TECHNOLOGICAL UNIVERSITY
$2,464,666
STUDENT SCHOLARSHIPS, PROFESSORSHIP SUPPLEMENTS, AND PROGRAM DISTRIBUTIONS
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MONTANA TECHNOLOGICAL UNIVERSITY
UNIVERSITY · MT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501059349302100
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