Northland Community and Technical College Foundation

“The board receives a copy of the form 990, reviews it and a motion is made to accept the 990 by the board.”

“For the conflict of interest policy, interested persons are directors, officers, employees, or an immediate family member of a director, officer, or employee. Potential conflicts are disclosed to the board or members of committees with board-delegated powers considering the proposed transaction or arrangement which has the potential conflict. The board or commitee will decide if a conflict exists. If a conflict exists, the interest person may provide a presentation on the transaction, but must leave the meeting before any discussion. The interested person cannot vote on the transaction or any arrangements that result from the conflict of interest. All proceedings that would result from a conflict of interest are documented in the meeting minutes of the board or committee.”

“No other documents available to the public”

“Professional fees: program service expenses 93,976. Management and general expenses 36,342. Fundraising expenses 0. Total expenses 130,318.”

“Amended 990: the original return was filed with preliminary financial information to comply with irs filing requirements. A third party cpa firm completed audited financial statements thus an amended return is being prepared. 990 part i both columns have been fully updated. 990 part iii line 4a expense amount has changed from 666,783 to 527,427. 990 part iii line 4a revenue amount has changed from 0 to 536,122. 990 part iii line 4b expense and grant amount have changed from 335,134 to 326,222. 990 part iv line 12a is now checked yes. 990 part v line 1c is no longer checked yes. 990 part vi section b line 12c narrative was updated. 990 part vi section c line 17 now lists minnesota. 990 part vii line 1a now has lars dyrud checked as an officer instead of key employee. 990 part viii was fully updated due to changes from the audited financial statements. 990 part ix was fully updated due to changes from the audited financial statements. 990 part x column a and b was fully updated due to changes from the audited financial statements. 990 part xii line 2b is now checked yes, and separate basis has been checked. Schedule a has been fully updated. Schedule b has been fully updated. Schedule d has been fully updated. Schedule i part ii column c has been filled out. Schedule i part ii column d was changed from 335,134 to 326,222. Schedule i part ii column e and f now say n/a. Schedule r part v has been fully updated.”