Virginia Peninsula Community College Educational Foundation

“A draft copy of the organization's form 990 is reviewed by the finance committee at a scheduled finance committee meeting. The finance committee asks questions and provides revisions to the form 990. Once approved by the finance committee, a recommendation is made by the finance committee for the full board to review and approve the form 990. Upon approval by the full board, the form 990 is filed.”

“A conflict of interest form is signed annually by members of the governing body affirming to the best of the board member's knowledge that there has been no activity in violation of policy or involvement in activity that is in violation of policy. Any conflict must be disclosed on the form each year. All conflicts of interest must be presented in writing to the president of the foundation and the foundation's executive director for purposes of review immediately. The foundation will take appropriate action in response to such information. Failure to present such information in accordance with the policy and in a timely manner is a violation.”

“All personnel are employees of thomas nelson community college, not the foundation; however, the salary expenses of personnel providing services for the foundation are shared by the foundation and the college. The executive director and the director of development are classified as administrative faculty with the commonwealth of virginia human resource department. The process used to establish compensation is in accordance with the virginia community colleges policies and procedures. For additional information, please see www.vccs.edu and refer to the policy manual.”

“All personnel are employees of thomas nelson community college, not the foundation; however, the salary expenses of personnel providing services for the foundation are shared by the foundation and the college. The executive director and the director of development are classified as administrative faculty with the commonwealth of virginia human resource department. The process used to establish compensation is in accordance with the virginia community colleges policies and procedures. For additional information, please see www.vccs.edu and refer to the policy manual.”

“All governing documents, conflict of interest policies, and financial statements are available upon request in paper or electronic forms.”

“The thomas nelson community college educational foundation is a private, non-profit, tax exempt organization dedicated to advancing and financially supporting educational excellence at thomas nelson community college. It also enhances access to higher educational opportunities at the college by reducing financial barriers for thomas nelson community college students.”