SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2012
Open to Public
Inspection
Name of the organization
MEDICAL COLLEGE OF GEORGIA FOUNDATION
INCORPORATED
Employer identification number

58-0706796
Identifier Return Reference Explanation
  FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE FULL BOARD FOR COMMENTS PRIOR TO FILING.
  FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED BY REMINDING BOARD MEMBERS OF THE NEED TO DISCLOSE POTENTIAL CONFLICTS WHEN A CONFLICT COULD BE PRESENT. ALSO, AS A GENERAL OPERATING PRINCIPLE, THE FOUNDATION DOES NOT CONDUCT BUSINESS WITH BOARD MEMBERS OR MAKE LOANS TO THEM. IN THE RARE CASES THE FOUNDATION HAS DONE BUSINESS WITH BOARD MEMBERS' FIRMS, THE REASONS FOR USING THEIR FIRMS WERE CLEARLY DISCLOSED AND WERE LARGELY DUE TO A SPECIAL EXPERTISE.
  FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE FOUNDATION'S CEO, CFO, AND ALL OTHER EMPLOYEES IS DETERMINED BY THE FOUNDATION'S CHAIRMAN, TREASURER, AND SECRETARY. THE FOUNDATION'S CEO MAKES RECOMMENDATIONS CONCERNING THE OTHER EMPLOYEES AND PROVIDES INFORMATION CONCERNING CEO COMPENSATION. COMPARABILITY DATA IS REVIEWED FOR THE CEO AND CFO AND MINUTES RECORDED OF THE MEETING.
  FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIALS ARE AVAILABLE UPON REQUEST. PARTS OF THE FINANCIALS AND THE ANNUAL REPORT ARE POSTED ON THE WEBSITE.
  FORM 990, PART XII, LINE 1 THE FOUNDATION USES THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THAT BASIS DIFFERS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THAT: CONTRIBUTIONS ARE RECOGNIZED WHEN RECEIVED INSTEAD OF WHEN THE FOUNDATION IS NOTIFIED IT IS THE RECIPIENT OF AN UNCONDITIONAL PROMISE TO GIVE; -REVENUES FROM RENTS, INVESTMENT PERFORMANCES, AND OTHER SOURCES ARE RECOGNIZED WHEN RECEIVED INSTEAD OF WHEN EARNED; AND -PAYMENTS TO VENDORS AND EMPLOYEES ARE RECOGNIZED WHEN PAID INSTEAD OF WHEN GOODS OR SERVICES ARE RECEIVED. NOTWITHSTANDING THE ABOVE, THE FOUNDATION HAS ELECTED TO MODIFY THE CASH BASIS OF ACCOUNTING TO REPORT, LONG-LIVED ASSETS AND DEPRECIATION, INVESTMENTS AT FAIR VALUE, STUDENT LOAN RECEIVABLES, RETIREMENT OBLIGATIONS, LIABILITIES FOR SPLIT-INTEREST AGREEMENTS, AND NOTES PAYABLE.
  FORM 990 PART XII LINE 2C THIS YEAR'S ANNUAL AUDIT WAS PUT OUT TO BID AND A NEW AUDITOR WAS SELECTED. THE PROCESS FOR OVERSIGHT HAS NOT CHANGED FROM THE PRIOR YEAR.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2012

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