Cusd Foundation Inc

“Background in summer 2017, the cusd foundation board members (the "board") began to notice inconsistencies in the financials that were being provided to them by an independent contractor hired to serve as the executive director. Also during this time, the board began learning of several grant awards given, and several others promised, to schools in the cusd that never received board approval nor filed the appropriate request documents. It was also evident at the november 2017 cusd foundation board meeting that the executive director had fallen behind in her bookkeeping obligations. Additionally, despite the accounting firm used by the foundation requesting that the executive director begin updating quickbooks beginning around september, she continuously informed them that she was too busy with planning fundraising events, and would get to it later. Shortly thereafter, the executive director rendered her resignation. Steps taken by the foundation after her resignation, the board conducted an investigation and hired an accountant to review all bank accounts held in the name of the foundation. At the completion of this review, it was discovered that between july 1, 2016 - june 30, 2017, the contractor had diverted 32,172.39. Since the discovery, the board has taken the following corrective actions: "hired a new executive director and executive assistant. Following the resignation of the independent contractor, the board hired an independent contractor to serve as an executive assistant. The executive assistant was tasked with going through documents and reviewing past board meeting minutes and agendas to better understand the items that the board approved. Additionally, the board began searching for a new independent contractor to serve as an executive director. On february 1, 2018, the board hired, a new executive director. The two independent contractors have been working to organize the books, records and files. "hired an accounting firm to conduct a friendly audit of the foundation's accounts. In january, the foundation board hired an accountant to conduct an audit of the foundation accounts and records. "retained an attorney. The foundation board retained an attorney to pursue a civil claim against the former executive director. "filed a claim with the oc sheriff's department: the board contacted the oc sheriff's department and filed a claim against the former executive director. We recently learned that the sheriff investigator will be submitting his report to the district attorney's office. "amending the bylaws. The board recently approved more stringent bylaws to support the commitment this board has to its mission and provide a solid basis for financial support of its mission. "implementing better policies and procedures. The board approved new policies and procedures regarding financial review of, and safeguarding documents and information”

“Larney fowler 32565 b golden lantern, suite 507 dana point, ca 92629”

“Form 990: part vi, secton b, line 11: the governing body of the organization will be able to review the tax exempt return at their regular board meeting.”

“No documents available to the public”

“The primary objectives and purposes of this corporation shall be to develop a broad based partnership to enhance the educational experience of the students within the capistano unified school district by linking the talents, energy, and resources of education, business, and the community.”

“Program service expenses and school flyer program expenses”