Jewell Educational Fund

“President robert jewell, top management official, does not receive compensation from the jewell educational fund. Therefore, this question has been answered "no" in accordance with the form 990 instructions.”

“The organization's other officers do not receive compensation from the jewell educational fund. Therefore, this question has been answered "no" in accordance with the form 990 instructions.”

“Pursuant to the organization's governing documents and the Michigan Non-Profit Corporation Act, Baker College is the sole stockholder of the Jewell Educational Fund.”

“Pursuant to the organization's governing documents, the Board of Regents, the governing body of the Jewell Educational Fund, is appointed by the sole stockholder, Baker College.”

“An appointed committee consisting of the Board Chair, Vice President, and Treasurer/Secretary approved by the Board of Regents/Trustees/Directors reviewed the Form 990. The appointed committee was provided a draft of the return and a Board Summary report prepared by the paid tax return preparers which highlighted key areas of the Form 990. Subsequent to the appointed committee's review and recommendations, the final copy was made available to the full Board of Regents/Trustees/Directors, either electronically or by mail, prior to the filing of the Form 990 with the IRS.”

“The Conflicts of Interest Policy covers the officers, directors, trustees, and key employees of the college. These individuals have a duty to disclose any actual or possible conflicts of interest to the Corporate Control Office and campus business office. After disclosure of the conflict, the Corporate Control office shall determine whether a financial interest exists. The system follows written procedures for addressing disclosed conflicts of interest. The Corporate Control Office will review the facts and circumstances and determine whether the transaction or arrangement is in the College's best interest, for its own benefit, and fair and reasonable to the College. The Corporate Control Office shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination.”

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time.”

“Jewell educational fund is included in the consolidated financial statements of baker college and subsidiaries ("the college"). During fy15, the college implemented a new enterprise resource planning system. For general ledger purposes, the balance sheets of each of the subsidiaries has been combined. The erp system provides for separate tracking of fund balance for each subsidiary, but no further detail on balance sheet items. A reconciliation to fund balance is provided to capture all activity for each subsidiary for purposes of form 990 reporting and presentation.”

“In accordance with the single audit act and as required by the u.s. Office of management and budget circular a-133, audits of states, local governments, and non-profit organizations, baker college and subsidiaries received an audit for the consolidated financial statements for the fiscal year ended august 31, 2015. The jewell educational fund is a subsidiary corporation of baker college.”