Long Beach State Foundation

“Csulb 49er foundation's bylaws have changed the qualification and selection of the coo. The board unanimously voted to approve the change.”

“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 conflict of interest policy was originally adopted in 2011 as part of the original by-laws. The foundation has continued to enhance the policy. Form 990, part vi, section b, lines 13 and 14 the 49er foundation adopted the university's whistleblower policy and developed a records retention schedule when the foundation was formally created.”

“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 governing 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 932,908. Management and general expenses 155,643. Fundraising expenses 70,039. Total expenses 1,158,590. Payments to csulb research fdn. For other employee benefits: program service expenses 185,178. Management and general expenses 63,242. Fundraising expenses 39,973. Total expenses 288,393. Payments to csulb research fdn. For pension plan accruals: program service expenses 5,858. Management and general expenses 6,773. Fundraising expenses 7,474. Total expenses 20,105. Payments to csulb research fdn. For payroll taxes: program service expenses 19,163. Management and general expenses 8,415. Fundraising expenses 6,779. Total expenses 34,357.”

“Transfer of net position from csulb research foundation, net 654,816.”

“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 was 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, 2018, the research foundation transferred $423,709 and $231,107 of cash related to obligations satisfied and net proceeds from philanthropic events to the 49er foundation.”