The Walsh College Foundation

“Marsha kelliher, stephanie bergeron, susan foley, audrey olmstead, and helen kieba-tolksdorf all have a business relationship, as all were employed by walsh college and were officers of the college during the fiscal year of this filing.”

“The organization has a sole member.”

“Walsh college is the sole member of the walsh college foundation. In its capacity as the sole member, the college is required to approve the election of the members of the board of directors of the foundation, as well as certain other actions of the foundation. Any actions not specifically enumerated in the bylaws are reserved to the foundation's board of directors.”

“Walsh college is the sole member of the walsh college foundation. In its capacity as the sole member, the college is required to approve the election of the members of the board of directors of the foundation, as well as certain other actions of the foundation. Any actions not specifically enumerated in the bylaws are reserved to the foundation's board of directors.”

“The form 990 is reviewed by all officers of the college and then by the audit committee and sent to the board of trustees. The final 990 is then posted to an internal board site.”

“Trustees, officers, executive and selective key administrators are required to file a conflict of interest statement annually and every time there is a decision under consideration in which such a person may have an interest. If a conflict is discovered, the person with the conflict will remove themself from the room during any discussion and recuse themself from any motion, vote or proposal.”

“The governing documents, conflict of interest policy, and financial statements are made available to the public through written or verbal requests.”

“Audit process has not changed from prior year.”

“Schedule g, part ii: the economic profit earned from these events is the net of line 1, total gross receipts $353,060, line 10, less direct expenses ($194,376), add part iii, line 8, net gaming income $10,384 equals $169,068 net profit. The following items are reported in compliance with the instructions for schedule g: sch g,part ii, line 1: gross receipts - $353,060 - represents total receipts and non cash contributions from the events. Sch g, part ii, line 2: charitable contributions - $223,205 - represents amount required by the irs to be acknowledged to donors as contributions. Sch g, part ii, line 3: gross income - $129,855 - represents payments by donors for value received. Sch g, part ii, line 10: total direct expenses - $194,376 - represents costs incurred in connection with fundraising events. Sch g, part iii, line 8: net gaming income summary - $10,384 - represents net proceeds from the sale of raffle tickets.”