Central Piedmont Community College

“The budget and audit committee of the board of directors reviews the form 990 prior to filing. After review by the budget and audit committee, a copy of the form 990 is provided to all board members.”

“The foundation asks board members to complete the family & business relationship questionnaire and the conflict of interest policy form on an annual basis. The foundation reviews the responses and determines whether any disclosures need to be reported to the board of directors. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she leaves the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members decide if a conflict of interest exists.”

“Most of the employees who perform work for the foundation are employed by central piedmont community college and provide services to cpcc foundation under a shared services agreement. Therefore, all compensation methods and analyses are performed by the college. Executive compensation packages are initially approved by the college board as part of the budget process. The college board then provides a letter to the foundation's board chair to bring to the foundation executive committee for review and approval.”

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

“Central piedmont community college will be a champion of students, a catalyst for opportunity, and an exceptional provider of learning experiences that transform lives and strengthen our community. The college facilitates student learning, success, and completion by providing exceptional education and globally competitive training in an engaging, supportive environment. The central piedmont community college foundation, a 501(c) (3) non-profit charitable organization established in 1965, generates financial support to further the mission of the college through partnerships with businesses, individuals, foundations, and organizations in the community. Philanthropic support from these groups helps to drive student success and address priority programs and needs as identified by the college's leadership. For the year ended 2024, the college continued to receive renewed and increased donor support through several major gifts and significant grant support. The foundation continues to focus its efforts around messaging the importance of unrestricted annual support that aligns with the college's strategic plan and broader initiatives.”

“Change in value of contribution receivable 43,345. Change in value of annuity obligations 9,641.”