Front Range Community College Foundation for Educ Excellence

“The form 990 is reviewed by the executive board/finance committee of the foundation before filing with the irs. In addition, a copy of the form 990 is provided to 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 financials statemetns available to the public upon request.”

“The following parts and schedules of the originally filed 2016 form 990 were amended as follows: form 990, part iv, line 23 - changed to yes. Form 990, part vii, section a, line 1a - moved the executive director's reportable compensation from column (e), reportable compensation from related organizations, to column (d), reportable compensation from the organization. Form 990, part vii, section a, line 5 - changed to yes. Schedule j - completed schedule j, parts i, ii, and iii based on changes made to the amended return. Schedule o - updated the narrative description for form 990, part vi, section b, line 15.”