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 their regularly scheduled Board meetings. Form 990 is distributed only to members of the Board who serve on the Finance Committee. They independently review the Form 990 to prepare for a meeting with the Executive Director, the Treasurer and the Accountant who prepares the Form 990. This meeting provides them with 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 at their next scheduled meeting.”

“The Conflict of Interest policy is distributed each year to the entire Foundation 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. They would determine an appropriate course of action to resolve the situation.”

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

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

“Non-academic student assistance included payments for rent, utilities, car repairs, groceries and refurbished computers. Aid totaling $88,852 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 in need. Emergency aid helped approximately 400 students.”

“The Foundation received five donated automobiles from area dealerships. Form 1098-C was not issued for any of these vehicles, as it was not required since all of the automobiles were part of the dealerships sales inventories "in their ordinary course of business". The vehicles were transferred to the Technical Trades and Manufacturing Division for automotive service training at Delta College.”