Form 990, Part VI, Section B, Line 11b |
The Walters State Community College Foundation Executive Committee receives presentations and reports throughout the reporting period related to data provided in the Form 990 and questions/discussion are addressed and approved before filing. |
Form 990, Part VI, Section B, Line 12c |
Annually, the the fall meeting of the Foundation Board of Trustees, each Trustee 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 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/emailed a copy of the policy along with the TCA 49-7-107 and requested to make same disclosure to the Foundation President if a conflict exists. |
Form 990, Part VI, Section B, Line 15 |
The Compensation Policy of the Walters State Community College Foundation is not to provide compensation for any officer or board member. The Walters State Community College Foundation does not have employees. However, Walters State Community College, a related organization, provides compensation to an employee who is the Vice President for Business and Finance for Walters State Community College 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 the Conflict of Interest Policy and financial statements available on the Walters State Community College website. |
Form 990, Part VII, Section A, Line 1a |
The average hours worked 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 Business and Finance, 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 every fiscal year by auditors from the State of Tennessee. The auditors come to campus every two years during the same time the audit of the financial statements for Walters State Community College and audit two years of data. |
Form 990, Part XI, Line 9 |
This is Deferred Inflow of Resources from Charitable Remainder Unitrust with the Walters State Community College Foundation listed as sole beneficiary. |