Mountain Empire Community College Foundation Inc

“Board of director member w. C. Witt, jr. Is married to board of director member kathleen a. Deponte, and he is the second cousin of board of director member ryan witt.”

“In accordance with the virginia community college system policy on foundations, mountain empire community college foundation, inc. (the foundation) and mountain empire community college (the college) had an operating agreement for the fiscal year of january 1, 2018 to december 31, 2018. The operating agreement stated that the foundation agreed it would receive, hold, invest, manage, use, dispose of, and administer its property and assets for the benefit of the college or for the educational support activities that may be conducted by the college. In consideration for the services provided by the foundation, the college agreed to support administrative services as specified below and provide office space, computer information support, shared equipment such as copy machines, telephones and files at no charge to the foundation. The college agreed to provide administrative services in the form of staff time in the proportions and from the positions as follows: 1. One-hundred percent (100%) of the time of the grants coordinator, 2. Fifty-percent (50%) of the time of the financial specialist i, 3. One-hundred percent (100%) of the time of the annual fund coordinator, 4. One-hundred percent (100%) of the time of the administrative support specialist iii the 2018 value of these services was $194,606.”

“A complete copy of the foundation's final form 990 (including all required schedules), as ultimately filed with the internal revenue service, was provided to each person who was a voting member of the governing body at the time the form 990 was provided, whether in paper or electronic form, before its filing with the internal revenue service.”

“The conflict of interest policy is presented to the board of directors annually at the october meeting. Each member signs the form and returns it to the organization.”

“In accordance with the commonwealth of virginia and the virginia community college system, wages and/or salaries of the employees are reviewed on an annual and/or regular basis to determine if they are in accordance with the appropriate salary ranges. Annual evaluations are performed for all mountain empire community college (the college) employees. This applies not only to top management but also officers and/or directors that are employees of the college. However, see schedule o for an explanation of the operating agreement between the mountain empire community college foundation, inc. And the college.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The board of directors assumes responsibility for the oversight of the audit of its financial statements and for the selection of an independent accountant, and this process has not changed from the prior year.”