Kirkwood Community College Facilities Foundation

“The executive committee shall have and exercise all of the powers of the board of directors. Written reports of the actions of the executive committee shall be submitted to the board of directors at the next meeting following the actions of the executive committee. The executive committee shall consist of the president, vice president, secretary, treasurer, and two members of the board of directors as elected by the board at its annual meeting.”

“All nominees for election to the governing body of kff shall be made by majority vote of the board of directors of kcc. In addition the number of directors that make up the board of directors of kff shall be set by the board of directors of kcc within the range established in kff bylaws (three to twenty-five).”

“The college board of trustees of kcc shall have the irrevocable power and authority by majority vote at any regular or called meeting of said board to unilaterally cause the dissolution of kff in accordance with the laws of iowa.”

“The form 990 is prepared by an independent accounting firm. The finance department reviews the form 990. Prior to filing the form 990, a complete copy is provided to the entire board for their review.”

“The conflict of interest policy covers the kff board of directors. The policy includes a duty to disclose any conflicts or potential conflicts to kcc as they arise, as well as requires the completion of an annual conflict of interest certification. As a means of reporting conflicts to kcc, the board secreatary will review the conflict of interest statements and determine whether a conflict exists. If a conflict were to arise the director in conflict would not be present for any discussions or vote relating to the matter in conflict. Any actual or potential conflict of interest would be documented in the board minutes.”

“Kff does not compensate any officer or employee. The executive director and other officers of kff do receive compensation from kcc, a related entity. But this compensation is not related to any services provided to kff. During fy12, kcc's compensation committee conducted a formal review of all pay classifications. In order to determine the proper pay classification, the committee used feedback from an independent consulting group, regional compensation data from other community colleges, and compared internal jobs that had similar responsibilities and duties. Kcc relied on the fy12 pay classifications when determining compensation for fy18 as well as utilized a compensation committee, and budget guidelines in determining compensation for those employees considered officer's on kff's 2019 form 990.”

“The governing documents, conflict of interest policy and financial statements are available to the public upon request.”

“The organization transferred substantially all operations. Much of the work previously performed by the kirkwood facilities foundation is now being performed by the kirkwood community college foundation. Both are supporting organizations of kirkwood community college.”

“No changes from prior year.”