Columbia Basin College Foundation

“The purpose of the columbia basin college foundation was updated in the bylaws during the year as follows: to acquire and manage funds for columbia basin college scholarships, projects and activities not otherwise supported by columbia basin college.”

“A copy of the 990 is provided to the executive director who reviews the form, schedules and related attachments. Any comments or questions are addressed with the preparer and a final draft is presented to the executive committee of the board of directors who review and approve the 990. Review is documented in the minutes. Once approved by the executive committee it is presented to the full board for final review. Following approval, the executive director signs before it is e-filed.”

“The conflict of interest policy is reviewed with the board of directors and key employees at the annual meeting that happens between june and september of the year. Following review, statements are signed by each member. The foundation staff monitors contracts and activities throughout the year to ensure conflict situation 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 15% 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.”

“See form 990, part vi, line 15a above.”

“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.”

“Change in value of split-interest agreement 199,275 special event expense 36,491 special event expense -36,491 total 199,275”