Peace College of Raleigh Foundation Inc

“The irs form 990 is required to be reviewed by the foundation board of directors each year before being filed. A draft version of the form 990 is reviewed first by the controller, and then by the vice president for finance & administration and the president, and then a copy is sent to members of the board of directors of the foundation. Directors are requested to review the form 990, return and submit questions and/or other feedback to the administration with in one week of receipt. The vice president for finance & administration is responsible for submitting the draft version of the form 990 to the directors for review. The controller coordinates with the foundation's tax preparers for filing after the review period.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the interest and be given the opportunity to disclose all material facts to the trustees and members of committees with board delegated powers considering the arrangement. After disclosure of the financial or other personal interest and all relevant facts, and after any discussion with the interested person, he or she shall leave the governing board of committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members without an interest in the matter shall decide if a conflict of interest exists.”

“Paid officers of the foundation are compensated by william peace university, the related organization which the foundation supports. They are subject to the university's compensation policies as described on its form 990. The foundation does not have any of its own employees. On average, key employees spend approximately two hours per week in foundation related matters and the rest of their time on the university.”

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

“William peace university foundation is a non-profit non-stock foundation organized solely for charitable and educational purposes, to wit, the support of william peace university, as long as it is operated in raleigh, north carolina, or within ten miles of the corporate limits thereof. The foundation shall be managed and operated by a board of directors.”

“Accounting method used to prepare the form 990: modified cash.”

“Oversight of audited financial statements: the process has not changed from the prior year.”