Oregon College of Art and Craft

“Members from the board of trustees performed a review of the foundation's 990.”

“All members of the board of trustees and administration of the college are informed of the college's conflict of interest policy set forth in the bylaws of the college when they become associated with the college. Reminders of the existence and content of the policy are issued from time to time, as necessary and appropriate, including prior to the filing of this form 990. Trustees are required to disclose potential conflicts at any time matters come before the board that might cause a conflict and to recuse themselves from voting. The administration of the college diligently monitors and reviews financial transactions and other actions that might raise a potential conflict of interest and takes steps to ensure that such conflicts do not occur, including informing the board's executive committee of potential conflicts, as necessary.”

“The organization did not have any employees.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“The organization did not not have employees. The foundation was supported administratively by the president of oregon college of art and craft, the foundation's supported organization.”

“Following the decision by the oregon college of art and craft to dissolve, the foundation filed articles of dissolution with the state of oregon and distributed its last remaining assets totaling $600,379 to the oregon community foundation in august of 2019.”

“Transfer of assets to oregon community foundation -600,379. Settlement of amount due to ocac (net of amount due from ocac) 2,185.”

“Effective february 1, 2019, the foundation adopted the liquidation basis of accounting.”