Liabilities / Assets
8th percentile
Tied with the lowest-debt nonprofits in its peer group.
Lanier Technical College Foundation Inc.
990 • Fiscal year 2024 • EIN 58-1688866
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
8th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
79th percentile
Higher net margin than 79% of similar nonprofits.
Top Officer Pay
22nd percentile
Higher top officer pay than 22% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
63rd percentile
Faster asset growth than 63% of similar nonprofits.
Revenue Growth
92nd percentile
Faster revenue growth than 92% of similar nonprofits.
Balance Sheet
Assets
Up$5,465,168
Up $465,843 (+9.3%) from 2023
Net Assets
Up$5,465,168
Up $465,843 (+9.3%) from 2023
Liabilities
Flat$0
Flat from 2023
Revenue And Expenses
Revenue
Up$681,688
Up $366,964 (+117%) from 2023
Expenses
Up$496,685
Up $288,697 (+139%) from 2023
Net Income
Up$185,003
Up $78,267 (+73%) from 2023
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2023 to Jun 30, 2024
- Signed
- Mar 11, 2024
- Return Version
- 2023v5.0
- Gross Receipts
- $681,688
Mission and Program Overview
Mission
To support lanier technical college by enhancing its image and expanding awareness and opportunities of the college as a workforce development resource
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $2,728,261 | $2,867,310 | ▲ $139,049 |
| Savings and Temporary Cash Investments | $2,098,375 | $2,460,797 | ▲ $362,422 |
| Pledges and Grants Receivable | $170,084 | $125,659 | ▼ $44,425 |
| Accounts Receivable | $1,528 | $9,943 | ▲ $8,415 |
| Prepaid Expenses and Deferred Charges | $1,077 | $1,459 | ▲ $382 |
| Total Assets | $4,999,325 | $5,465,168 | ▲ $465,843 |
| Liabilities | |||
| Total Liabilities | $0 | $0 | → $0 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $4,331,369 | $4,585,814 | ▲ $254,445 |
| Net Assets Without Donor Restrictions | $667,956 | $879,354 | ▲ $211,398 |
| Total Net Assets Fund Balance | $4,999,325 | $5,465,168 | ▲ $465,843 |
| Total Liabilities and Net Assets / Fund Balance | $4,999,325 | $5,465,168 | ▲ $465,843 |
Endowment Activity
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2024 | $927,459 | $77,150 | ▲ $145,332 | - | $1,116,296 |
| 2023 | $806,004 | $76,292 | ▲ $81,367 | - | $927,459 |
| 2022 | $998,451 | $9,334 | ▼ $140,837 | - | $806,049 |
| 2021 | $610,371 | $382,788 | ▲ $6,562 | - | $998,452 |
| 2020 | $471,765 | $143,813 | ▲ $2,540 | - | $610,371 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Brett Berto | Chair |
| Blake House | Trustee |
| Brad Day | Trustee |
| Chuck Carter | Trustee |
| Joe Leonardo | Trustee |
| Kevin Tanner | Trustee |
| Tommy Sanders | Trustee |
| Lauren Armour Talley | Executive Di |
| Thomas Jennings | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $566,479
- Program Service Revenue
- $0
- Investment Income
- $105,464
- Other Revenue
- $9,745
- All Other Contributions
- $566,479
- Change in Net Assets
- $185,003
Noncash Contribution Practices
- Property subject to holding requirements
- No
- Reviewed unusual noncash gifts
- No
- Third parties used for noncash contributions
- No
Noncash Contributions
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Other Non Cash Contri Table | 12 | $305,768 | Fair Market Value |
| Total Noncash Contributions | 12 | $305,768 | - |
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $681,688
- Revenue Not Reported on Form 990
- $467,324
- Total Revenue per Audited Statements
- $1,149,012
- Total Revenue per Form 990
- $681,688
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $410,270 |
| Other Expenses | $86,415 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $305,768 | - | - | $305,768 |
| Grants to Domestic Individuals | $104,502 | - | - | $104,502 |
| Fees for Services Accounting | - | $6,700 | - | $6,700 |
| Office Expenses | - | $3,715 | - | $3,715 |
| All Other Expenses | $1,000 | $1,191 | - | $2,191 |
| Other Expenses | $1,910 | $2,529 | - | $1,910 |
| Conferences and Meetings | - | $50 | - | $50 |
| Total Functional Expenses | $468,456 | $28,229 | $0 | $496,685 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $683,169 |
| Expenses per Audited Statements | $496,685 |
| Total Expenses per Form 990 | $496,685 |
| Expenses Not Reported on Form 990 | $186,484 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Lanier Technical College | Oakwood, GA | - | Educational | - |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $9,745 |
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- No
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“The executive director and board of directors reviews the tax return.”
Form 990, Page 6, Part VI, Line 12C
“Lanier technical college foundation, inc. Conflict of interest policy this conflict of interest policy of the lanier technical college foundation, inc.: (1) defines conflicts of interest; (2) identifies classes of individuals within the ltc foundation covered by this policy; (3) facilitates disclosure of information that may help identify conflicts of interest; and (4) specifies procedures to be followed in managing conflicts of interest. 1. Definition of conflicts of interest. A conflict of interest arises when a person in a position of authority over the ltc foundation may benefit financially from a decision he or she could make in that capacity, including indirect benefits such as to family members or businesses with which the person is closely associated. This policy is focused upon material financial interest of, or benefit to, such persons. 2. Individuals covered. Persons covered by this policy are the ltc foundation's officers, trustees, any employee paid by the foundation, such as a ceo or cfo. 3. Facilitation of disclosure. Persons covered by this policy will annually disclose or update to the chairman of the board of trustees on a form provided by the foundation, their interests that could give rise to conflicts of interest, such as a list of family members, substantial business or investment holdings, and other transactions or affiliations with businesses and other organizations or those of family members. 4. Procedures to manage conflicts. For each interest disclosed to the chairman of the board of trustees, the chairman will determine whether to: (a) take no action; (b) assure full disclosure to the board of trustees and other individuals covered by this policy; (c) ask the person to recuse from participation in related discussions or decisions within the organization; or (d) ask the person to resign from his or her position on the foundation or if the person refuses to resign, become subject to possible removal in accordance with the foundation's removal procedures. The foundation's treasurer and/or executive director will monitor proposed or ongoing transactions for conflicts of interest and disclose them to the chairman of the board of trustees in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred. Presented by gene hart, chair policies and procedures approved march 25, 2009 ltc foundation trustees”
Form 990, Page 6, Part VI, Line 15A
“NO COMPENSATION PAID”
Form 990, Page 6, Part VI, Line 15B
“NO COMPENSATION PAID”
Form 990, Page 6, Part VI, Line 19
“UPON REQUEST”
Filing and Contact Details
Filer
- Filer Name
- Lanier Technical College Foundation
- EIN
- 58-1688866
- Phone
- 7705316396
- Address
- 2535 LANIER TECH DRIVE, GAINESVILLE, GA 30507
Signing Officer
- Name
- Brett Berto
- Title
- Chair
- Phone
- 7705337034
- Signed
- 2024-03-11
Organization Details
- Principal Officer
- Brett Berto
- Formed
- 1985
- Legal Domicile
- Ga
- Voting Board Members
- 8
- Independent Board Members
- 8
- Employees
- 0
- Volunteers
- 20
Preparer
- Firm
- Rushton LLC
- Address
- PO BOX 2917, GAINESVILLE, GA 30503
- Preparer
- J Chris Hollifield
- Phone
- 7702877800
Supplemental Narrative
Additional Explanations
Form 990, Page 2, Part III, Line 4D
“Adult literacy - to solicit funding in support of an adult education program that provides instruction for students to attain a ged credential, pursue a post-secondary education, successfully enter the workforce and/or improve their english language skills.”
Financial Statement Notes
Schedule D, Page 3, Part X
“Note 9 - uncertain tax positions the foundation follows the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board fasb asc 740, income taxes. The guidance prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2024, the foundation has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. With few exceptions, the foundation is no longer subject to u.s. Federal, state, and local income tax examinations by tax authorities for fiscal years before 2021.”
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| IRS990/PoliticalCampaignActyInd | 0 | false |
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| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 1459 |
| IRS990/PrincipalOfficerNm | 0 | BRETT BERTO |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | SCHOLARSHIPS - TO SOLICIT FUNDING IN SUPPORT OF SCHOLARSHIP OPPORTUNITIES THAT PROVIDE FINANCIAL ASSISTANCE TO STUDENTS SEEKING A POST-SECONDARY CREDENTIAL IN TECHNICAL TRAINING PROGRAMS WITH TUITION, BOOKS AND/OR FEES. |
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| IRS990/ProgSrvcAccomActy2Grp/GrantAmt | 0 | 104502 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | INSTITUTIONAL ADVANCEMENT - TO SOLICIT FUNDING IN SUPPORT OF THE COLLEGE'S STRATEGIC PLANS FOR FUTURE GROWTH BY UPGRADING OR EXPANDING PRESENT PHYSICAL FACILITIES TO BE THE PREMIER WORKFORCE DEVELOPMENT AND TRAINING INSTITUTION IN NORTHEAST GEORGIA. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 35394 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | ADULT LITERACY - TO SOLICIT FUNDING IN SUPPORT OF AN ADULT EDUCATION PROGRAM THAT PROVIDES INSTRUCTION FOR STUDENTS TO ATTAIN A GED CREDENTIAL, PURSUE A POST-SECONDARY EDUCATION, SUCCESSFULLY ENTER THE WORKFORCE AND/OR IMPROVE THEIR ENGLISH LANGUAGE SKILLS. |
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| IRS990/PYExcessBenefitTransInd | 0 | false |
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| IRS990/PYTotalExpensesAmt | 0 | 207988 |
| IRS990/PYTotalRevenueAmt | 0 | 314724 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
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| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
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| IRS990/ReportLandBuildingEquipmentInd | 0 | false |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
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| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 2460797 |
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| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 222522 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 663303 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 157383 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 832 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 6509 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 3358 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 137103 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 18025 |
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| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.98720 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 2592411 |
| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 145725 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
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| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 395818 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 828978 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 323231 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 2738136 |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
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| IRS990/ScheduleBRequiredInd | 0 | true |
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| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | -140837 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 610371 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt | 0 | 382788 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 998452 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt | 0 | 1269 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 6562 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 471765 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt | 0 | 143813 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 610371 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt | 0 | 7747 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 2540 |
| IRS990ScheduleD/DonatedServicesAndUseFcltsAmt | 0 | 186484 |
| IRS990ScheduleD/DonatedServicesUseFcltsAmt | 0 | 186484 |
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| IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd | 0 | false |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 186484 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 496685 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 280840 |
| IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct | 0 | 0.69000 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 467324 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 681688 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | NOTE 9 - UNCERTAIN TAX POSITIONS THE FOUNDATION FOLLOWS THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD FASB ASC 740, INCOME TAXES. THE GUIDANCE PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF JUNE 30, 2024, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2021. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/TermEndowmentBalanceEOYPct | 0 | 0.31000 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 496685 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 681688 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 1149012 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 683169 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | false |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 104502 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | SCHOLARSHIPS |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 355 |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 0 | 305768 |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc | 0 | INST MATERIALS |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | EDUCATIONAL |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | LANIER TECHNICAL COLLEGE |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 580964324 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 2990 LANDRUM EDUCATION DRIVE |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | OAKWOOD |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | GA |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 30566 |
| IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc | 0 | FMV |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990ScheduleM/AnyPropertyThatMustBeHeldInd | 0 | false |
| IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt | 0 | 12 |
| IRS990ScheduleM/OtherNonCashContriTableGrp/Desc | 0 | INSTRUCT MATER |
| IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt | 0 | FAIR MARKET VALUE |
| IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd | 0 | X |
| IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt | 0 | 305768 |
| IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd | 0 | false |
| IRS990ScheduleM/ThirdPartiesUsedInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | ADULT LITERACY - TO SOLICIT FUNDING IN SUPPORT OF AN ADULT EDUCATION PROGRAM THAT PROVIDES INSTRUCTION FOR STUDENTS TO ATTAIN A GED CREDENTIAL, PURSUE A POST-SECONDARY EDUCATION, SUCCESSFULLY ENTER THE WORKFORCE AND/OR IMPROVE THEIR ENGLISH LANGUAGE SKILLS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS REVIEWS THE TAX RETURN. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | LANIER TECHNICAL COLLEGE FOUNDATION, INC. CONFLICT OF INTEREST POLICY THIS CONFLICT OF INTEREST POLICY OF THE LANIER TECHNICAL COLLEGE FOUNDATION, INC.: (1) DEFINES CONFLICTS OF INTEREST; (2) IDENTIFIES CLASSES OF INDIVIDUALS WITHIN THE LTC FOUNDATION COVERED BY THIS POLICY; (3) FACILITATES DISCLOSURE OF INFORMATION THAT MAY HELP IDENTIFY CONFLICTS OF INTEREST; AND (4) SPECIFIES PROCEDURES TO BE FOLLOWED IN MANAGING CONFLICTS OF INTEREST. 1. DEFINITION OF CONFLICTS OF INTEREST. A CONFLICT OF INTEREST ARISES WHEN A PERSON IN A POSITION OF AUTHORITY OVER THE LTC FOUNDATION MAY BENEFIT FINANCIALLY FROM A DECISION HE OR SHE COULD MAKE IN THAT CAPACITY, INCLUDING INDIRECT BENEFITS SUCH AS TO FAMILY MEMBERS OR BUSINESSES WITH WHICH THE PERSON IS CLOSELY ASSOCIATED. THIS POLICY IS FOCUSED UPON MATERIAL FINANCIAL INTEREST OF, OR BENEFIT TO, SUCH PERSONS. 2. INDIVIDUALS COVERED. PERSONS COVERED BY THIS POLICY ARE THE LTC FOUNDATION'S OFFICERS, TRUSTEES, ANY EMPLOYEE PAID BY THE FOUNDATION, SUCH AS A CEO OR CFO. 3. FACILITATION OF DISCLOSURE. PERSONS COVERED BY THIS POLICY WILL ANNUALLY DISCLOSE OR UPDATE TO THE CHAIRMAN OF THE BOARD OF TRUSTEES ON A FORM PROVIDED BY THE FOUNDATION, THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, SUCH AS A LIST OF FAMILY MEMBERS, SUBSTANTIAL BUSINESS OR INVESTMENT HOLDINGS, AND OTHER TRANSACTIONS OR AFFILIATIONS WITH BUSINESSES AND OTHER ORGANIZATIONS OR THOSE OF FAMILY MEMBERS. 4. PROCEDURES TO MANAGE CONFLICTS. FOR EACH INTEREST DISCLOSED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE CHAIRMAN WILL DETERMINE WHETHER TO: (A) TAKE NO ACTION; (B) ASSURE FULL DISCLOSURE TO THE BOARD OF TRUSTEES AND OTHER INDIVIDUALS COVERED BY THIS POLICY; (C) ASK THE PERSON TO RECUSE FROM PARTICIPATION IN RELATED DISCUSSIONS OR DECISIONS WITHIN THE ORGANIZATION; OR (D) ASK THE PERSON TO RESIGN FROM HIS OR HER POSITION ON THE FOUNDATION OR IF THE PERSON REFUSES TO RESIGN, BECOME SUBJECT TO POSSIBLE REMOVAL IN ACCORDANCE WITH THE FOUNDATION'S REMOVAL PROCEDURES. THE FOUNDATION'S TREASURER AND/OR EXECUTIVE DIRECTOR WILL MONITOR PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND DISCLOSE THEM TO THE CHAIRMAN OF THE BOARD OF TRUSTEES IN ORDER TO DEAL WITH POTENTIAL OR ACTUAL CONFLICTS, WHETHER DISCOVERED BEFORE OR AFTER THE TRANSACTION HAS OCCURRED. PRESENTED BY GENE HART, CHAIR POLICIES AND PROCEDURES APPROVED MARCH 25, 2009 LTC FOUNDATION TRUSTEES |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | NO COMPENSATION PAID |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | NO COMPENSATION PAID |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | UPON REQUEST |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | GA |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
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| IRS990/TotalAssetsEOYAmt | 0 | 5465168 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 4999325 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 5465168 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 566479 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
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| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 468456 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 496685 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 0 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 0 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 0 |
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| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 5465168 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 468456 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 105464 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 681688 |
| IRS990/TotalVolunteersCnt | 0 | 20 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,465,168
- Liabilities
- $0
- Net assets
- $5,465,168
- Revenue
- $681,688
- Expenses
- $496,685
- Net income
- $185,003