TY 2014 Form 990 Schedule O

efile Public Visual Render ObjectId: 201600439349300980 - Submission: 2016-02-12 TIN: 51-0162364

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 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

WALTERS STATE COMMUNITY COLLEGE FOUNDATION

Employer identification number

51-0162364

Return Reference	Explanation
Form 990, Part VI, Section B, Line 11b	The Executive Committee reviews the return prior to filing. An electronic copy of the return will be provided to the governing board at the next meeting following committee approval.
Form 990, Part VI, Section B, Line 12c	Annually, at the Fall meeting of the Foundation Board of Trustees, each attendee is presented with a copy of the Conflict of Interest policy and a copy of the Tennessee Code Annotated 49-7-107 which requires such policy be adopted. Instruction is provided to those in attendance that if conflicts with the policy exist, they will make the required disclosure to the President of the Foundation. Those Trustees not in attendance at the Fall meeting are mailed a copy of the policy along with TCA 49-7-107 and requested to make the same disclosure to the Foundation President if a conflict exists. This practice ensures full notification to all Trustees of the Foundation.
Form 990, Part VI, Section B, Line 15	The compensation policy of the Walters State Community College Foundation is not to provide compensation to any officers or board members. The Walters State Community College Foundation does not currently have employees. However, Walters State Community College, a related organization, provides compensation to an employee who is the Vice President for College Advancement and also serves as Treasurer of the Walters State Community College Foundation.
Form 990, Part VI, Section C, Line 19	The Walters State Community College Foundation does make its Conflict of Interest policy and financial statements available on the college website.
Form 990, Part VII, Section A, Line 1a	The average hours per week listed in Column B is the hours worked for Walters State Community College, a related organization to the Walters State Community College Foundation. The average hours of 37.5 are the required hours of work each week for full-time employees of Walters State Community College.
Form 990, Part XI, Line 2	The Vice President for College Advancement, a Walters State Community College employee is responsible for compiling the financial statements for the Walters State Community College Foundation. The Walters State Community College Foundation financial statements are audited by auditors from the State of Tennessee every two years during the same time that the audit of the financial statements for Walters State Community College is completed.

Return Reference

Explanation

Form 990, Part VI, Section B, Line 11b

The Executive Committee reviews the return prior to filing. An electronic copy of the return will be provided to the governing board at the next meeting following committee approval.

Form 990, Part VI, Section B, Line 12c

Annually, at the Fall meeting of the Foundation Board of Trustees, each attendee is presented with a copy of the Conflict of Interest policy and a copy of the Tennessee Code Annotated 49-7-107 which requires such policy be adopted. Instruction is provided to those in attendance that if conflicts with the policy exist, they will make the required disclosure to the President of the Foundation. Those Trustees not in attendance at the Fall meeting are mailed a copy of the policy along with TCA 49-7-107 and requested to make the same disclosure to the Foundation President if a conflict exists. This practice ensures full notification to all Trustees of the Foundation.

Form 990, Part VI, Section B, Line 15

The compensation policy of the Walters State Community College Foundation is not to provide compensation to any officers or board members. The Walters State Community College Foundation does not currently have employees. However, Walters State Community College, a related organization, provides compensation to an employee who is the Vice President for College Advancement and also serves as Treasurer of the Walters State Community College Foundation.

Form 990, Part VI, Section C, Line 19

The Walters State Community College Foundation does make its Conflict of Interest policy and financial statements available on the college website.

Form 990, Part VII, Section A, Line 1a

The average hours per week listed in Column B is the hours worked for Walters State Community College, a related organization to the Walters State Community College Foundation. The average hours of 37.5 are the required hours of work each week for full-time employees of Walters State Community College.

Form 990, Part XI, Line 2

The Vice President for College Advancement, a Walters State Community College employee is responsible for compiling the financial statements for the Walters State Community College Foundation. The Walters State Community College Foundation financial statements are audited by auditors from the State of Tennessee every two years during the same time that the audit of the financial statements for Walters State Community College is completed.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

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