Long Beach Rotary Scholarship Foundation Inc.

“The entity's bylaws were amended during the fiscal year ended june 30, 2019. The revised bylaws limit the purpose of the organization to serve only the california state university, long beach and long beach city college. The bylaws also updated the qualifications and duties of the board of directors. The amendment also reflects the organization's new address.”

“The foundation receives a copy of the organization's form 990, as prepared by windes, inc., which is reviewed by the executive board prior to filing the document with the irs. After the executive board has reviewed the form and any changes or updates are made, the final copy of the 990 is electronically circulated to all board members prior to filing the form with the irs.”

“Annually, the executive director of the organization updates the conflict of interest policy and re-distributes it to the board members. Board members then read and sign the policy. Policies are then collected from the board members and held on file at the rotary office. Members with a conflict of interest will not be a member of a committee in which the conflict of interest is relevant. For instance, craig dougherty is 50% owner of the investment property (in which the other 50% is owned by lbrsf). Craig is not a member of the investment committee and does not make any decisions based on the property on behalf of the lbrsf. Form 990,part vi, line 13: the organization does not have any employees and therefore does not have a whistleblower policy.”

“The executive director is compensated at an hourly rate that is set and voted on by the full board of directors. All compensation is supported by detailed time sheets outlining work performed by the executive director on behalf of the foundation.”

“The organization's form 990, form 1023, governing documents, conflict of interest policy and financial statements are available upon request. They are located at: long beach rotary scholarship foundation 400 oceangate, suite 470 long beach, ca 90802”

“The foundation received a $4,000 reimbursement from csulb for scholarships that were originally awarded during the fiscal year ended june 30, 2018. This refund is reflected as miscellaneous revenue on form 990, part viii, line 11a.”