Canton College Foundation Inc

“The form 990 is reviewed and approved by the audit committee for review and comment prior to filing with the irs. The audit committee reports to the full board on the findings of their review. The form 990 is available for any board member to review at our offices. Additionally, the form 990 is posted on the n.y.s. Charities bureau website for public review and inspection.”

“Directors are asked on an annual basis to disclose any conflicts of interest they may have with the organization.”

“Comparative data is collected from other suny institutions for the executive director and key employees. This information is shared with the board chair as well as the president of suny canton. Both individuals approve the compensation of the executive director. Data for key employees is provided to the executive director and board chair to establish compensation for those individuals. Executive director performance is reviewed annually by the president and the foundation board. Key employee annual perforamance is reviewed by the executive director.”

“All policies and financial statements are available for public review upon request at our offices located at 34 cornell drive, canton, ny 13617. Additionally, audited financial statements and 990 filings are posted on the nys attorney general charities bureau website as required by law.”

“Raise funds, accept gifts and provide both monetary and non-monetary support to the students, faculty, staff, educational programs and campus-wide efforts of the state university of new york at canton.”

“A. To encourage, accept and hold gifts made to the state university of new york (suny) at canton in the form of any and all types of real or personal property. B. To manage such property received in (a) above and collect income there from and disburse any of the same only for the purpose of advancing the welfare and development of suny canton. C. To aid suny canton in carrying out its commitment to provide educational opportunities for all qualified indivduals. D. To make such grants and awards of financial assistance to the students, faculty, and staff of said college as shall be consistent with the purposes and policies of suny canton. E. To make such grants and awards of financial assistance to said college and to any other organization duly authorized by the college to carry on charitable educational activities, providing said organization qualifies as an exempt organization under section 501(c)(3) of the internal revenue service code and its regulations as they now exist, or as they may hereafter be amended. To accomplish these purposes, canton college foundation, inc. Carried on the following activities during the fiscal year: 1. Accepted in-kind gifts of equipment and supplies and turned them over to suny canton for its educational programs. 2. Funded activities and made grants in furtherance of the promotion of the institution and program development with the curriculum. 3. Awarded financial grants and work assistantships to students in need based on stipulated selection criteria.”

“No changes have taken place during the current fiscal year.”