Ivy Tech Foundation Inc.

“A draft of form 990 will first be thoroughly reviewed by the audit and administrative policies committee. Any appropriate revisions will be made and then the updated form 990 will be sent to all board members for their review and comments. Again, any appropriate revisions will be made before filing. If substantial revisions are needed, the form 990 will be circulated a second time to all board members before filing.”

“The conflict of interest policy includes a form to be completed and submitted annually. The form requires information regarding each recipients financial interests and employment. The content of each form is reviewed by the assistant treasurer to assess any potential conflicts of interest. If conflicts of interest exist, the policy provides the procedural guidelines.”

“The ivy tech foundation has no employees. The foundation contracts with ivy tech community college for services performed by college employees that benefit the foundation. College salaries are established based upon comparative salary analysis of college employees in comparable positions, consideration of economies of scale, input from human resources and final approval of appropriate college officer.”

“The ivy tech foundation only files form 990 and makes it available to the public as follows: 1) ivy tech community college's website, 2) ivy tech foundation's central office location in indianapolis, in and 3) upon request.”

“The financial statements are made available to the public as follows: 1) ivy tech community college's website, 2) inclusion within ivy tech community college's annual financial report, which is available to the public and 3) upon request.”

“Outreach program expense: program service expenses 1,193,616. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,193,616. Administration expense paid to college: program service expenses 0. Management and general expenses 650,000. Fundraising expenses 0. Total expenses 650,000. Other expenses: program service expenses 2,895. Management and general expenses 163,979. Fundraising expenses 3,129. Total expenses 170,003. Awards and recognition: program service expenses 156,589. Management and general expenses 0. Fundraising expenses 0. Total expenses 156,589. Contractual services: program service expenses 0. Management and general expenses 0. Fundraising expenses 141,647. Total expenses 141,647. Faculty and staff development: program service expenses 86,584. Management and general expenses 0. Fundraising expenses 0. Total expenses 86,584. Alumni association: program service expenses 80,438. Management and general expenses 0. Fundraising expenses 0. Total expenses 80,438. Other programmatic expenses: program service expenses 72,826. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,826. Printing: program service expenses 6,369. Management and general expenses 4,971. Fundraising expenses 15,710. Total expenses 27,050. Bad debt expense: program service expenses 0. Management and general expenses 0. Fundraising expenses 24,120. Total expenses 24,120. Annuity obligation: program service expenses 17,254. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,254.”

“This process has not changed from prior year.”