The Portage Foundation

Kent, OH | http://portagefoundation.org

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GuideStar Charity Check

EIN: 34-1176817

Contributions tax deductible
as of March 2023

IRS BMF 509(a)(1)
as of March 13, 2023

View summary

Charity Check report

Mission

A COMMUNITY FOUNDATION THAT IS BUILDING A THRIVING AND DYNAMIC COMMUNITY FOR PORTAGE COUNTY AND THE REGION TO INSPIRE PHILANTHROPY, BUILD ENDOWMENTS, IMPACT CAUSES, FOSTER PROJECTS, AND ENGAGE COMMUNITY LEADERS.

Ruling year info

1976

Principal Officer

Mr. Scott Taylor

Main address

PO Box 623

Kent, OH 44240 USA

Show more contact info

EIN

34-1176817

Subject area info

Foundations

Community improvement

Population served info

Children and youth

Adults

Economically disadvantaged people

People with diseases and illnesses

Students

NTEE code info

Community Foundations (T31)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Programs and results

What we aim to solve

This profile needs more info.

If it is your nonprofit, add a problem overview.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Academic Scholarships

The Portage Foundation awards scholarships from a number of endowed funds supported by the generosity of community members. Our full list of scholarships, including any targeted schools, activities, or criteria, can be found on our website.

Applications for scholarships open annually on January 1 and close on March 1.

Population(s) Served

Young adults

Students

Where we work

External reviews

Financials

The Portage Foundation

Fiscal year: Jan 01 - Dec 31

Yes, financials were audited by an independent accountant.

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2019

SOURCE: IRS Form 990

1.50

Average of 182.20 over 10 years

Months of cash in 2019

SOURCE: IRS Form 990

27.1

Average of 8.2 over 10 years

Fringe rate in 2019

SOURCE: IRS Form 990

7%

Average of 6% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

Source: IRS Form 990

Digitizing IRS form 990 data

The Portage Foundation

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

Fiscal year ending: Download Data

Revenue
Contributions	$64,925
Program Services	$0
Investments	$19,175
Special Events	$0
Sales	($4,216)
Other	$0
Total Revenue	$79,884

Expenses
Grants	$10,578
Salaries & Employee Benefits	$9,600
Professional Fees	$3,000
Occupancy	$5,491
Printing, Publications, Postage, etc.	$2,989
Other Expenses	$11,496
Total Expenses	$43,154
Net Gain/Loss	$36,730

Revenue
Contributions	$116,414
Government Grants	$0
Program Services	$0
Investments	$18,447
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$134,861

Expenses
Program Services	$44,819
Administration	$0
Fundraising	$0
Total Expenses	$44,819
Net Gain/Loss	$90,042

Functional expenses
Accounting Fees	$3,000
Advertising & Promotion	$1,614
Information Technology Expenses	$561
Insurance Expenses	$1,423
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,589,253
Government Grants	$0
Program Services	$0
Investments	$85,898
Special Events	($7,248)
Sales	$0
Other	$0
Total Revenue	$1,667,903

Expenses
Program Services	$32,950
Administration	$25,154
Fundraising	$15,013
Total Expenses	$73,117
Net Gain/Loss	$1,594,786

Functional expenses
Accounting Fees	$5,500
Advertising & Promotion	$891
Information Technology Expenses	$4,735
Insurance Expenses	$1,485
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$548
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$212,174
Government Grants	$0
Program Services	$0
Investments	$184,109
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$396,283

Expenses
Program Services	$110,264
Administration	$0
Fundraising	$0
Total Expenses	$110,264
Net Gain/Loss	$286,019

Functional expenses
Accounting Fees	$5,500
Advertising & Promotion	$824
Information Technology Expenses	$7,584
Insurance Expenses	$1,600
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$25
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$302,960
Government Grants	$0
Program Services	$0
Investments	$228,121
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$531,081

Expenses
Program Services	$82,366
Administration	$51,499
Fundraising	$43,796
Total Expenses	$177,661
Net Gain/Loss	$353,420

Functional expenses
Accounting Fees	$6,000
Advertising & Promotion	$6,252
Information Technology Expenses	$3,359
Insurance Expenses	$1,328
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$199,257
Government Grants	$0
Program Services	$0
Investments	$148,144
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$347,401

Expenses
Program Services	$195,563
Administration	$48,971
Fundraising	$44,647
Total Expenses	$289,181
Net Gain/Loss	$58,220

Functional expenses
Accounting Fees	$6,500
Advertising & Promotion	$3,371
Information Technology Expenses	$2,854
Insurance Expenses	$1,281
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$268,074
Government Grants	$0
Program Services	$0
Investments	$166,326
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$434,400

Expenses
Program Services	$253,278
Administration	$24,000
Fundraising	$24,000
Total Expenses	$301,278
Net Gain/Loss	$133,122

Functional expenses
Accounting Fees	$13,550
Advertising & Promotion	$21,455
Information Technology Expenses	$1,855
Insurance Expenses	$471
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,849,456
Government Grants	$0
Program Services	$0
Investments	$202,595
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$2,052,051

Expenses
Program Services	$132,775
Administration	$52,058
Fundraising	$41,220
Total Expenses	$226,053
Net Gain/Loss	$1,825,998

Functional expenses
Accounting Fees	$10,250
Advertising & Promotion	$526
Information Technology Expenses	$1,985
Insurance Expenses	$1,330
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$200
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$312,241
Government Grants	$0
Program Services	$0
Investments	$254,992
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$567,233

Expenses
Program Services	$196,985
Administration	$66,142
Fundraising	$39,909
Total Expenses	$303,036
Net Gain/Loss	$264,197

Functional expenses
Accounting Fees	$13,100
Advertising & Promotion	$698
Information Technology Expenses	$0
Insurance Expenses	$1,341
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$200
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$264,059
Government Grants	$0
Program Services	$0
Investments	$596,127
Special Events	($14,021)
Sales	$0
Other	$0
Total Revenue	$846,165

Expenses
Program Services	$148,521
Administration	$162,121
Fundraising	$41,206
Total Expenses	$351,848
Net Gain/Loss	$494,317

Functional expenses
Accounting Fees	$17,925
Advertising & Promotion	$583
Information Technology Expenses	$2,503
Insurance Expenses	$1,537
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$207
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

The Portage Foundation

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Jan 01, 2008	Dec 31, 2008	Change
Contributions	$64,925
Cash & Equivalents	$547,560	$420,511	($127,049)
Fixed Assets (LBE - Depreciation)	$0	$0	$0
Other	$5,898	$46,957	$41,059
Total Assets	$553,458	$467,468	($85,990)

Liabilities	Jan 01, 2008	Dec 31, 2008	Change
Total Liabilities	$8,625	$22,291	$13,666

Fund balance	Jan 01, 2008	Dec 31, 2008	Change
Net Assets	$544,833	$445,177	($99,656)

Assets	Jan 01, 2011	Dec 31, 2011	Change
Contributions	$116,414
Cash & Equivalents	$13,824	($3,461)	($17,285)
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$80,755	$75,240	($5,515)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$513,697	$604,319	$90,622
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$0	$8,593	$8,593
Other	$94,388	$91,779	($2,609)
Total Assets	$702,664	$776,470	$73,806

Liabilities	Jan 01, 2011	Dec 31, 2011	Change
Accounts Payable	$12,114	$11,500	($614)
Grants Payable	$5,642	$0	($5,642)
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$17,756	$11,500	($6,256)

Fund balance	Jan 01, 2011	Dec 31, 2011	Change
Temporarily Restricted Net Assets	$48,209	$0	($48,209)
Permanently Restricted Net Assets	$445,245	$0	($445,245)
Total Restricted Net Assets	$493,454	$0	($493,454)
Unrestricted Net Assets	$191,454	$764,970	$573,516
Net Assets	$684,908	$764,970	$80,062

Assets	Jan 01, 2012	Dec 31, 2012	Change
Contributions	$1,589,253
Cash & Equivalents	($3,461)	$13,760	$17,221
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$74,840	$46,765	($28,075)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$604,319	$2,240,669	$1,636,350
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$8,593	$8,679	$86
Other	$91,778	$86,052	($5,726)
Total Assets	$776,069	$2,395,925	$1,619,856

Liabilities	Jan 01, 2012	Dec 31, 2012	Change
Accounts Payable	$9,000	$10,641	$1,641
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$9,000	$10,641	$1,641

Fund balance	Jan 01, 2012	Dec 31, 2012	Change
Temporarily Restricted Net Assets	$35,980	$34,935	($1,045)
Permanently Restricted Net Assets	$547,447	$2,161,027	$1,613,580
Total Restricted Net Assets	$583,427	$2,195,962	$1,612,535
Unrestricted Net Assets	$183,642	$189,322	$5,680
Net Assets	$767,069	$2,385,284	$1,618,215

Assets	Jan 01, 2013	Dec 31, 2013	Change
Contributions	$212,174
Cash & Equivalents	$13,760	$12,925	($835)
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$46,765	$86,395	$39,630
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,240,669	$2,718,244	$477,575
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$8,679	$4,309	($4,370)
Other	$86,052	$79,410	($6,642)
Total Assets	$2,395,925	$2,901,283	$505,358

Liabilities	Jan 01, 2013	Dec 31, 2013	Change
Accounts Payable	$10,641	$13,068	$2,427
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$10,641	$13,068	$2,427

Fund balance	Jan 01, 2013	Dec 31, 2013	Change
Temporarily Restricted Net Assets	$34,935	$34,935	$0
Permanently Restricted Net Assets	$2,161,027	$2,161,027	$0
Total Restricted Net Assets	$2,195,962	$2,195,962	$0
Unrestricted Net Assets	$189,322	$692,253	$502,931
Net Assets	$2,385,284	$2,888,215	$502,931

Assets	Jan 01, 2014	Dec 31, 2014	Change
Contributions	$302,960
Cash & Equivalents	$18,094	$66,033	$47,939
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$70,383	$166,726	$96,343
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,713,074	$2,845,125	$132,051
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$4,310	$3,839	($471)
Other	$79,410	$73,397	($6,013)
Total Assets	$2,885,271	$3,155,120	$269,849

Liabilities	Jan 01, 2014	Dec 31, 2014	Change
Accounts Payable	$13,068	$6,636	($6,432)
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$13,068	$6,636	($6,432)

Fund balance	Jan 01, 2014	Dec 31, 2014	Change
Temporarily Restricted Net Assets	$413,114	$535,077	$121,963
Permanently Restricted Net Assets	$2,241,987	$2,334,836	$92,849
Total Restricted Net Assets	$2,655,101	$2,869,913	$214,812
Unrestricted Net Assets	$217,102	$278,571	$61,469
Net Assets	$2,872,203	$3,148,484	$276,281

Assets	Jan 01, 2015	Dec 31, 2015	Change
Contributions	$199,257
Cash & Equivalents	$66,033	$54,344	($11,689)
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$166,726	$110,951	($55,775)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,845,125	$2,778,722	($66,403)
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$3,839	$3,427	($412)
Other	$73,397	$68,791	($4,606)
Total Assets	$3,155,120	$3,016,235	($138,885)

Liabilities	Jan 01, 2015	Dec 31, 2015	Change
Accounts Payable	$6,636	$11,000	$4,364
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$6,636	$11,000	$4,364

Fund balance	Jan 01, 2015	Dec 31, 2015	Change
Temporarily Restricted Net Assets	$535,077	$501,458	($33,619)
Permanently Restricted Net Assets	$2,334,836	$2,272,723	($62,113)
Total Restricted Net Assets	$2,869,913	$2,774,181	($95,732)
Unrestricted Net Assets	$278,571	$231,054	($47,517)
Net Assets	$3,148,484	$3,005,235	($143,249)

Assets	Jan 01, 2016	Dec 31, 2016	Change
Contributions	$268,074
Cash & Equivalents	$54,344	$165,178	$110,834
Accounts Receivable	$0	$0	$0
Pledges & Grants Receivable	$110,951	$25,575	($85,376)
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,778,722	$2,994,269	$215,547
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$3,427	$3,427	$0
Other	$68,791	$1,719	($67,072)
Total Assets	$3,016,235	$3,190,168	$173,933

Liabilities	Jan 01, 2016	Dec 31, 2016	Change
Accounts Payable	$11,000	$17,500	$6,500
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$11,000	$17,500	$6,500

Fund balance	Jan 01, 2016	Dec 31, 2016	Change
Temporarily Restricted Net Assets	$501,458	$501,458	$0
Permanently Restricted Net Assets	$2,272,723	$2,272,723	$0
Total Restricted Net Assets	$2,774,181	$2,774,181	$0
Unrestricted Net Assets	$231,054	$398,487	$167,433
Net Assets	$3,005,235	$3,172,668	$167,433

The Portage Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

This snapshot of The Portage Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Jan 01 - Dec 31 View full report Download data

Business model indicators

Profitability	2015	2016	2017	2018	2019
Unrestricted surplus (deficit) before depreciation	-$47,105	$167,433	-$190,415	$482,688	-$156,661
As % of expenses	-16.3%	55.6%	-84.4%	159.5%	-44.6%
Unrestricted surplus (deficit) after depreciation	-$47,517	$167,433	-$190,827	$482,276	-$157,073
As % of expenses	-16.4%	55.6%	-84.4%	159.1%	-44.6%

Revenue composition
Total revenue (unrestricted & restricted)	$347,401	$434,400	$2,052,051	$567,233	$846,165
Total revenue, % change over prior year	-34.6%	25.0%	372.4%	-72.4%	49.2%
Program services revenue	0.0%	0.0%	0.0%	0.0%	0.0%
Membership dues	0.0%	0.0%	0.0%	0.0%	0.0%
Investment income	20.4%	20.8%	7.3%	43.9%	10.3%
Government grants	0.0%	0.0%	0.0%	0.0%	0.0%
All other grants and contributions	57.4%	61.7%	90.1%	55.0%	29.5%
Other revenue	22.2%	17.5%	2.6%	1.0%	60.1%

Expense composition
Total expenses before depreciation	$288,769	$301,278	$225,641	$302,624	$351,436
Total expenses, % change over prior year	66.4%	4.3%	-25.1%	34.1%	16.1%
Personnel	34.4%	33.2%	44.6%	33.2%	29.1%
Professional fees	3.1%	4.5%	4.6%	4.4%	5.5%
Occupancy	2.2%	1.9%	2.8%	2.4%	2.0%
Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Pass-through	54.8%	28.9%	41.4%	52.4%	31.2%
All other expenses	5.5%	31.5%	6.6%	10.8%	32.2%

Full cost components (estimated)	2015	2016	2017	2018	2019
Total expenses (after depreciation)	$289,181	$301,278	$226,053	$303,036	$351,848
One month of savings	$24,064	$25,107	$18,803	$25,219	$29,286
Debt principal payment	$0	$0	$0	$0	$0
Fixed asset additions	$0	$0	$0	$0	$0
Total full costs (estimated)	$313,245	$326,385	$244,856	$328,255	$381,134

Capital structure indicators

Liquidity	2015	2016	2017	2018	2019
Months of cash	2.3	6.6	2.7	35.8	27.1
Months of cash and investments	117.7	125.8	283.0	205.4	27.1
Months of estimated liquid unrestricted net assets	9.5	15.7	10.9	27.3	21.8

Balance sheet composition	2015	2016	2017	2018	2019
Cash	$54,344	$165,178	$51,132	$901,884	$792,522
Investments	$2,778,722	$2,994,269	$5,270,068	$4,279,156	$0
Receivables	$110,951	$25,575	$2,750	$549,150	$488,249
Gross land, buildings, equipment (LBE)	$13,217	$13,217	$13,217	$13,217	$13,216
Accumulated depreciation (as a % of LBE)	74.1%	74.1%	80.3%	83.4%	86.5%
Liabilities (as a % of assets)	0.4%	0.5%	0.2%	11.5%	8.4%
Unrestricted net assets	$231,054	$398,487	$207,785	$690,151	$639,099
Temporarily restricted net assets	$501,458	$501,458	$462,984	$0	N/A
Permanently restricted net assets	$2,272,723	$2,272,723	$4,644,284	$4,385,177	N/A
Total restricted net assets	$2,774,181	$2,774,181	$5,107,268	$4,385,177	$5,115,988
Total net assets	$3,005,235	$3,172,668	$5,315,053	$5,075,328	$5,755,087

Key data checks

Key data checks	2015	2016	2017	2018	2019
Material data errors	No	No	No	Yes	No

Operations

The people, governance practices, and partners that make the organization tick.

Documents

Letter of Determination is not available for this organization

Form 1023/1024 is not available for this organization

Principal Officer

Mr. Scott Taylor

Number of employees

Source: IRS Form 990

The Portage Foundation

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

This organization has no recorded board members.

Organizational demographics

SOURCE: Self-reported; last updated 2/23/2023

Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

No data

Race & ethnicity

No data

Gender identity

No data

Sexual orientation

No data

Disability

No data

The Portage Foundation

Mission

Is this your nonprofit?

Programs and results

What we aim to solve

This profile needs more info.

Our programs

Academic Scholarships

Where we work

Financials

Revenue vs. expenses: breakdown

Liquidity in 2019 info

1.50

Months of cash in 2019 info

27.1

Fringe rate in 2019 info

7%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

The Portage Foundation

The Portage Foundation

The Portage Foundation

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

Principal Officer

Mr. Scott Taylor

Number of employees

The Portage Foundation

Compensation data

Organizational demographics

Leadership

Race & ethnicity

Gender identity

Sexual orientation

Disability

Liquidity in 2019

Months of cash in 2019

Fringe rate in 2019

Funding sources

Assets & liabilities