Front Range Community College Foundation

“The executive committee oversees the organization's business and decision making. The executive committee is comprised of five voting members, which includes the board chair, the board vice-chair, the secretary, the treasurer, and one additional director appointed by the board. Additionally, the front range community college president and the executive director shall be non-voting advisory members of the executive committee> the executive committee shall: (a) perform the duties and have the responsibilities and authority of the board between the regular meetings of such board; (b) evaluate all significant matters relating to the operations of the foundation and make recommendations to the board; (c) perform such other duties and exercise authority to act on behalf of the foundation as delegated to it by the board. Membership of the executive committee shall serve until his or her term as director is complete, resigns, or is removed from the committee.”

“The form 990 is reviewed by the executive board and finance committee of the foundation before filing with the irs. In addition, a copy of the form 990 is provided to the entire governing body for their review and approval before filing.”

“Conflict of interest forms are distributed annually at the board of directors meeting. Follow up is done individually with members not in attendance at the meeting. If any person who is a director or officer of the foundation is aware that the foundation is about to enter into any business transaction directly or indirectly with himself/herself, or any member of his/her family, or any entity in which he/she has a legal, equitable, or fiduciary interest, partner, beneficiary, or trustee, such person shall: (a) immediately inform those charged with approving the transaction on behalf of the foundation of his/her interest or position, (b) aid the persons charged with making the decision by disclosing any material facts within his/her knowledge that bear on the advisability of such transaction from the standpoint of the foundation, and (c) not be entitled to vote on the decision to enter into such transaction.”

“The compensation paid to the executive director is paid for by front range community college, an affiliated organization. Front range community college has policies and procedures in place that are used to evaluate and establish compensation amounts for the executive director. The executive director's services are treated as in-kind expenses, and thus the foundation has no reimbursed compensation expenses.”

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