Long Beach State Foundation

“The audit committee reviews the form 990 at a scheduled meeting. Prior to filing, the board is provided with a complete copy of the form 990.”

“Each board member shall initially and annually thereafter receive, review, complete, sign, and return a related party questionnaire and conflict of interest certification. The organization encourages the prompt disclosure of any such conflict, real or perceived, to the ceo for review and determination. In the case of the ceo, disclosure shall be made to the board chair for review and determination consistent with this policy statement.”

“The organization does not have any employee compensation policies in place because it does not have any employees.”

“The form 990, financial statements, conflict of interest policy, and governinng documents are posted to the organization's website.”

“Csulb 49er foundation does not file any form w-2 for employees due to the fact that they are paid from the payroll of csulb and csulb research foundation. The salaries and wages and related employee expenses are allocated between the entities based on the employee's time spent on work for each activity.”

“Payments to csulb research fdn. For salaries & wages: program service expenses 853,621. Management and general expenses 144,762. Fundraising expenses 71,883. Total expenses 1,070,266. Payments to csulb research fdn. For other employee benefits: program service expenses 154,096. Management and general expenses 53,133. Fundraising expenses 42,160. Total expenses 249,389. Payments to csulb research fdn. For pension plan accruals: program service expenses 10,578. Management and general expenses 7,220. Fundraising expenses 7,289. Total expenses 25,087. Payments to csulb research fdn. For payroll taxes: program service expenses 33,887. Management and general expenses 12,250. Fundraising expenses 7,399. Total expenses 53,536.”

“Transfer of net position from csulb research foundation, net 1,365,743.”

“The 49er foundation began operations july 1, 2012 with the purpose to promote philanthropy and manage the resources previously donated to the research foundation but designated for university-related uses. Assets relating to endowments, scholarships, and certain pledges were transferred from the research foundation to the 49er foundation at the inception of operations. Some assets related to campus program donations were retained in the research foundation until specified obligations were satisfied. Once the specified obligations are satisfied, the assets are transferred to the 49er foundation in the year the obligation is satisfied. In addition, the research foundation administered several philanthropic events on behalf of the 49er foundation during the year. The purpose of those events were to generate donations designated for university-related uses. The proceeds net of any associated expenses are transferred to the 49er foundation after the event. During the year ended june 30, 2017, the research foundation transferred $1,365,743 of cash related to obligations satisfied and net proceeds from philanthropic events to the 49er foundation.”