TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202410889349300816 - Submission: 2024-03-28 TIN: 34-1369714

SCHEDULE O
(Form 990)

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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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

Name of the organization

THE LAKELAND FOUNDATION

Employer identification number

34-1369714

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11B	THE FOUNDATION'S FORM 990 IS PROVIDED TO THE BOARD'S EXECUTIVE COMMITTEE TO REVIEW ON BEHALF OF THE BOARD OF DIRECTORS BY ITS CODE OF REGULATIONS. THE EXECUTIVE COMMITTEE OF THE LAKELAND FOUNDATION BOARD, COMPOSED OF THE OFFICERS, PRESIDENT OF THE COLLEGE, AND ONE DIRECTOR-AT-LARGE, CAN "FORMULATE RECOMMENDATIONS FOR THE FULL BOARD AND TAKE SUCH INTERIM ACTIONS ON BEHALF OF THE FOUNDATION AS IT DEEMS NECESSARY" BY VOTE OF A MAJORITY OF A QUORUM.
FORM 990, PART VI, SECTION B, LINE 12C	AS PART OF THE PROCEDURE, AN ANNUAL STATEMENT OF DISCLOSURE MUST BE SIGNED ANNUALLY BY EACH DIRECTOR, OFFICER, SELECTED EMPLOYEE, OR MEMBER WHICH AFFIRMS THAT EACH PERSON HAS READ, UNDERSTANDS THE DOCUMENTS, AND AGREES TO COMPLY WITH THE POLICY AND PROCEDURE. THE FORMS ARE COLLECTED AND MAINTAINED IN THE FOUNDATION OFFICE.
FORM 990, PART VI, SECTION B, LINE 15	ALL FOUNDATION STAFF MEMBERS, INCLUDING ITS EXECUTIVE DIRECTOR, ARE LAKELAND COMMUNITY COLLEGE EMPLOYEES. THE COLLEGE'S HUMAN RESOURCES DEPARTMENT IS RESPONSIBLE FOR ESTABLISHING, REVIEWING AND RECOMMENDING COMPENSATION LEVELS FOR THE COLLEGE'S TOP OFFICIALS. THE DEPARTMENT REGULARLY REVIEWS COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IN ESTABLISHING COMPENSATION LEVELS. ANY COST SHARING BY THE FOUNDATION FOR COLLEGE EMPLOYEE PAYROLL IS REVIEWED AND APPROVED BY THE FOUNDATION EXECUTIVE COMMITTEE.
FORM 990, PART VI, SECTION C, LINE 19	THE LAKELAND FOUNDATION IS RELATED TO LAKELAND COMMUNITY COLLEGE, A POLITICAL SUBDIVISION OF THE STATE OF OHIO. ACCORDINGLY, THE FOUNDATION'S FINANCIALS ARE REVIEWED BY THE STATE OF OHIO AUDITOR'S OFFICE, WHICH POSTS THE FOUNDATION'S AUDIT ON ITS WEBSITE. THE FOUNDATION'S GOVERNANCE AND KEY POLICY DOCUMENTS ARE AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9:	UNCOLLECTIBLE PLEDGES -14,806.
SCHEDULE C PART II-A:	THERE WERE NO LOBBYING EXPENSES INCURRED DURING THE FISCAL YEAR ENDED JUNE 30, 2023.

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11B

THE FOUNDATION'S FORM 990 IS PROVIDED TO THE BOARD'S EXECUTIVE COMMITTEE TO REVIEW ON BEHALF OF THE BOARD OF DIRECTORS BY ITS CODE OF REGULATIONS. THE EXECUTIVE COMMITTEE OF THE LAKELAND FOUNDATION BOARD, COMPOSED OF THE OFFICERS, PRESIDENT OF THE COLLEGE, AND ONE DIRECTOR-AT-LARGE, CAN "FORMULATE RECOMMENDATIONS FOR THE FULL BOARD AND TAKE SUCH INTERIM ACTIONS ON BEHALF OF THE FOUNDATION AS IT DEEMS NECESSARY" BY VOTE OF A MAJORITY OF A QUORUM.

FORM 990, PART VI, SECTION B, LINE 12C

AS PART OF THE PROCEDURE, AN ANNUAL STATEMENT OF DISCLOSURE MUST BE SIGNED ANNUALLY BY EACH DIRECTOR, OFFICER, SELECTED EMPLOYEE, OR MEMBER WHICH AFFIRMS THAT EACH PERSON HAS READ, UNDERSTANDS THE DOCUMENTS, AND AGREES TO COMPLY WITH THE POLICY AND PROCEDURE. THE FORMS ARE COLLECTED AND MAINTAINED IN THE FOUNDATION OFFICE.

FORM 990, PART VI, SECTION B, LINE 15

ALL FOUNDATION STAFF MEMBERS, INCLUDING ITS EXECUTIVE DIRECTOR, ARE LAKELAND COMMUNITY COLLEGE EMPLOYEES. THE COLLEGE'S HUMAN RESOURCES DEPARTMENT IS RESPONSIBLE FOR ESTABLISHING, REVIEWING AND RECOMMENDING COMPENSATION LEVELS FOR THE COLLEGE'S TOP OFFICIALS. THE DEPARTMENT REGULARLY REVIEWS COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IN ESTABLISHING COMPENSATION LEVELS. ANY COST SHARING BY THE FOUNDATION FOR COLLEGE EMPLOYEE PAYROLL IS REVIEWED AND APPROVED BY THE FOUNDATION EXECUTIVE COMMITTEE.

FORM 990, PART VI, SECTION C, LINE 19

THE LAKELAND FOUNDATION IS RELATED TO LAKELAND COMMUNITY COLLEGE, A POLITICAL SUBDIVISION OF THE STATE OF OHIO. ACCORDINGLY, THE FOUNDATION'S FINANCIALS ARE REVIEWED BY THE STATE OF OHIO AUDITOR'S OFFICE, WHICH POSTS THE FOUNDATION'S AUDIT ON ITS WEBSITE. THE FOUNDATION'S GOVERNANCE AND KEY POLICY DOCUMENTS ARE AVAILABLE UPON REQUEST.

FORM 990, PART XI, LINE 9:

UNCOLLECTIBLE PLEDGES -14,806.

SCHEDULE C PART II-A:

THERE WERE NO LOBBYING EXPENSES INCURRED DURING THE FISCAL YEAR ENDED JUNE 30, 2023.

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

Cat. No. 51056K

Schedule O (Form 990) 2022

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