Delta College Foundation

“The entire Foundation Board of Directors reviews the quarterly financial statements throughout the year and the Audited Financial Statements at the end of the year at regularly scheduled Board meetings. The Form 990 is distributed only to members of the Board who serve on the Finance Committee. They independently review the Form 990 in preparation of meeting with the Executive Director, the Treasurer and the Accountant who prepares the Form 990. This meeting gives them an opportunity to ask questions, make amendments and approve the Form 990 content prior to filing it with the IRS. The Finance Committee members follow up by updating the full Board of Directors of the Form 990 meeting.”

“Each year the Conflict of Interest policy is distributed to the entire Board of Directors. They are asked to independently review the policy and complete a Disclosure Statement, which is reviewed by the Executive Director for potential conflicts. If any issues are identified, the Executive Director brings them to the attention of the Board Chair and the College President who serves as an Officer on the Foundation Board of Directors.”

“Foundation Officers include the Executive Director, Treasurer and Secretary, who are employees of Delta College, a related organization. Their compensation is determined and paid by the College. It is based on the board-approved evaluation process which uses salary market comparisons and a uniformly applied Performance Management System. Annual increases, if any, are approved by the College Board of Trustees.”

“Requests for the Foundation's policies, Audited Financial Statements and Form 990 will be provided within three business days of receiving the request. Requests can be sent to Delta College Foundation, 1961 Delta Road, University Center, MI 48710. Delta College Audited Financial Statements include a condensed version of the Foundation statements and can be viewed online at www.delta.edu/transparency.”

“Non-academic student assistance included payments for rent, utilities, car repairs and groceries. Aid totaling $25,427 was provided to Delta College students attending classes who had barriers threatening their ability to complete their courses or participate in educational activities. The students were referred to the Foundation for assistance by College faculty and staff. Assistance payments were made directly to service providers on behalf of the students. This emergency aid helped 139 students.”

“The Foundation received one automobile donation from a dealership. A Form 1098-C was not issued for this donation because it was not required, as this vehicle was part of their sales inventory in their "ordinary course of business". The vehicle was transferred to the Technical Trades & Manufacturing Division for automotive service training at the College.”