Columbia Basin College Foundation

“A copy of the 990 is provided to the executive director and the director of operations who review the form, schedules and related attachments. Any comments or questions are addressed with the preparer and a final draft is presented to the board of directors who then review and approve the 990. Review is documented in the board of directors minutes. Once the board and management are satisfied with the 990, the director of operations signs off on the form 8879-eo before the return is e-filed by the preparer.”

“The conflict of interest policy is reviewed with the board of directors and key employees at the first or second board meeting of the year (september or november). After the policy review, a new conflict of interest statement is signed by each member. The foundation staff monitors contracts and activities throughout the year to ensure that conflict situations are avoided or abated.”

“The executive director of the foundation is an employee of the state of washington. Both the president of the college and the president of the foundation are involved in determining the compensation of the executive director. Each year, the state board of community college administers a salary survey of all positions at community colleges within the state. This survey provides the officials with average salaries for comparable types of positions. In this case, the state classification for the comparable position is a development officer. The determining officials then adjust the salary up or down from the average depending on specific knowledge, skills, and abilities the individual brings to the position. At this point the specific salary level is negotiated with the employee. The salaries and benefits of the majority of the foundation staff is paid for by columbia basin college. The college then invoices the foundation for 20% of the employee's wages and benefits reimbursed by the foundation. One staff of the foundation is paid through an employment agency by the foundation for the full amount of the wages and benefits. The amounts on line 5 and part of line 11g on 990, part ix include all compensation paid by the foundation.”

“The other key personnel in the foundation is the director of operations, who is also a state of washington employee. The director of operations is responsible for all the financial management activities of the foundation. Both the president of the college and the ceo/executive director of the foundation are involved in determining the compensation of the director of operations. The above process is also used to determine the salary level of the director of operations. In this case, the average salary is compared to director positions within administrative occupations.”

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

“Cbcf functions to establish and cultivate a variety of productive and mutually beneficial relationships with individuals, corporations, and other foundations for the benefit of columbia basin college. We seek to acquire and manage funds for college scholarships, projects, and activities not otherwise supported by the state. The students of columbia basin college are the heart of everything we do.”

“Special events expense 31,112 change in value of split-interest agreement 50,908 special event expense -31,112 total 50,908”