Monroe Community College Association Inc

“The form 990 is provided to the finance committee where it is reviewed in detail. It then goes to the board, where it undergoes a final review. It is then filed upon approval.”

“The board members are asked to complete a statement at the first meeting of the year stating what, if any conflicts of interest have arisen.”

“The monroe community college association, inc. Reviews compensation of its director annually as part of the budget process. The association's salary range for the director position is compared to compensation for similar positions found in compensation surveys prepared for colleges and universities as well as surveys applicable to businesses and organziations in monroe county and the surrounding counties. The board of directors of the association then approves the compensation increase for the director either individually or as part of the approval of the minimum and maximum range of salary increases for all association employees.”

“The monroe community college association, inc. (the association) makes available its annual tax filings form 990 and form 990-t if applicable, its form 1023 application for exemption under 501(c)(3) of the internal revenue code and its articles of incorporation for public inspection as follows: the association's policy is to provide a copy of the documents made available for public inspection upon receipt of a written request. The documents are to be provided to the individual submitting the request within 1 business day of the receipt of the written request. This information is also available on guidestar.org.”

“The organization has unrelated business gross income of $1,000 or more but did not file form 990-t. Per publication 598, rents from real property are excluded from computing unrelated business taxable income, unless the property is debt-financed. If substantially all (85% or more) of the use of any property is substantially related to an organization's exempt purpose, the property is not treated as debt-financed property. In this case, the real property would not be considered debt-financed property as the organization uses the property 85% or more for exempt purposes. Therefore, rents from real property should be excluded from unrelated business gross income and form 990-t is not required.”

“Change in funded status of post retirement benefit plan 128,048.”

“The process is consistent with prior years.”