The Bismarck State College Foundation

“The Executive Committee shall consist of the officers of the Board, the President of BSC, and the Executive Director, both ex-officio, non-voting. The Executive Committee shall have power to hold meetings at such times and places as it deems advisable and to take such action as may be necessary or proper to carry out the purposes of the Foundation. Excepting matters which the Board of Trustees is required to act actions by the Executive Committee shall have the authority of the Board of Trustees. The Committee has the authority to review, make modifications to and recommend approval of the proposed Foundation annual fiscal year budget. The Committee shall forward the recommended proposed budget to the Board of Trustees for final approval. The Committee shall also be authorized to review, modify, reject or recommend approval of any proposed amendments to the approved fiscal year budget. The Committee shall forward any recommended budget changes to the Board of Trustees for final approval. The Executive Committee shall also serve as the Audit Committee for the Foundation. As such, it shall review and approve the annual audit and Management Letter.”

“Paul Sandness and Dave Goodin have a business relationship. Stacy Tschider and Loren Kopsen have a business relationship. David Ludwig, Tim Karsky, and David Mason have a business relationship. Dave Clark, Larry Skogen, and Kari Knudson have a business relationship with each other and with Tamera Barber, Joseph Vuolo, Bruce Emmil, Jennifer Klesalek, and Jacklyne Carlson. Vern Dosch and Jerry Schlosser have a family relationship.”

“The Bylaws were updated on February 2, 2017. Significant changes included in these Bylaws included: -The prior Bylaws indicated that the President of the Bismarck State College Board of Governors shall serve ex-officio as a voting member. This was replaced with the President of the BSC Student Government Association. -The Bylaws added that One non dues-paying representative from the Bismarck or Mandan High School systems will be appointed to serve a two year term.”

“The Public Disclosure copy of the Form 990 is reviewed by the full Board of Directors prior to filing with the IRS.”

“The policy covers all board members and foundation employees. The conflict of interest statements are completed and reviewed annually. The Executive Director, accountant and administrative assistant review the statements to determine whether a conflict exists. Conflicts would be reviewed by the Executive Director and depending on the situation, the board member is not allowed to vote on anything that involves the related entity or relationship.”

“Kari Knudson is paid by an unrelated organization. The Human Resource Director of the unrelated organization gathers compensation information based upon a North Dakota Colleges survey (state and regional). An independent committee (Executive Council of the College) establishes the compensation and the results are documented in an employment contract.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Actuarial Gain/Loss on Annuity Payments -7,450.”