Edmonds Community College Foundation

“The foundation's audit and policy committee reviews and approves the form 990 prior to emailing it to the board of directors, who are informed that questions will be taken and answered at the next regularly scheduled board meeting prior to a request for the board to approve the form 990 for submission. The board approves the 990 at their next scheduled meeting.”

“Annually, edmonds community college foundation provides the board of directors and staff with a conflict of interest policy and disclosure along with a list of all persons and entities with which they have done business over the past 12 months. The board or staff member is asked to disclose if they have a relationship with any persons or entities on the list that may be perceived as a conflict of interest. Once all the disclosures have been returned, the audit & policy committee chair reviews the statements, and in consultation with the executive director, determines if conflicts exist and how they will be addressed. Each individual who has disclosed a perceived conflict receives a memo telling them if their disclosure is or is not a conflict and how the foundation will address it.”

“All foundation staff are employed through the related organization, edmonds community college, which is an institution of higher learning in the state of washington. Rules and regulations for compensation of college employees are dependent on their classification. The vp for college relations and advancement is an exempt employee. The college is directly responsible for establishing salary schedules for exempt employees. Placement of specific positions within those schedules is governed by policy guidelines established by the board of trustees which relate to the job responsibilities, education and required experience for the position. The foundation's finance and program manager is a classified employee. Job classifications and salary range placement is determined by the state of washington. The college then determines the placement within the range of the individual hired for the position based upon experience and education.”

“Governing documents and policies are made available to the public by request only. Financial statements are summarized and provided on the foundation website.”

“Change in value of split interest agreement 82,159.”