2021-03-31T08:39:08-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 2523 US HIGHWAY 27 S SEBRING FL 338704926 990 2019-07-01 521267008 MONTGOMERY COLLEGE FOUNDATION INC MONT 2405677381 9221 CORPORATE BOULEVARD ROCKVILLE MD 20850 DONNA PINA DIRECTOR OF FINANCE 2405677381 2021-03-30 1 KRISTINA HIMROD P01544190 8633851577 2021-03-24 2019 2022-09-23 18:48:47Z DONNA PINA 9221 CORPORATE BOULEVARD ROCKVILLE MD 20850 31026347 0 X HTTP://MONTGOMERYCOLLEGE.EDU/FOUNDATION X 1982 MD THE ORGANIZATION SUPPORTS THE EDUCATIONAL ACTIVITIES OF MONTGOMERY COLLEGE. 25 25 0 25 0 0 3885553 6003192 3064176 2961133 1238238 1038020 -44174 -1089 8143793 10001256 3720216 4188763 0 0 0 0 0 0 291940 3289723 3294894 7009939 7483657 1133854 2517599 120180620 116484013 83627308 78611869 36553312 37872144 X THE ORGANIZATION SUPPORTS THE EDUCATIONAL ACTIVITIES OF MONTGOMERY COLLEGE, LOCATED IN MONTGOMERY COUNTY, MARYLAND, BY PROVIDING RESOURCES FOR THE COLLEGE TO EXPAND AND ENHANCE ITS CONTRIBUTIONS TO THE COMMUNITY. 0 0 2945968 2945968 SCHOLARSHIPS:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $2.9 MILLION IN SCHOLARSHIP AID TO MORE THAN 2,200 STUDENTS. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT THE GENEROSITY AND VISION OF OUR DONORS, WHO RECOGNIZE THAT EDUCATION IS THE KEY TO LIFTING INDIVIDUALS AND FAMILIES OUT OF POVERTY, WHICH IS THE GREATEST BARRIER TO A COLLEGE DEGREE. THROUGH THE GENEROSITY OF OUR DONORS, THE FOUNDATION HAS SUPPORTED NUMEROUS PROGRAMS INCLUDING OUR COMMUNITY-CHANGING ACHIEVING COLLEGIATE EXCELLENCE AND SUCCESS (ACES) PROGRAM, WHICH IS DESIGNED TO REACH THE MOST VULNERABLE STUDENTS IN OUR COMMUNITY - INCLUDING FIRST GENERATION, AFRICAN AMERICAN, HISPANIC, AS WELL AS THOSE WHO WILL BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. (CONTINUED ON SCHEDULE O)THIS FORWARD-THINKING PROGRAM PROVIDES COACHING SUPPORT TO STUDENTS WHO HAVE BOTH THE DESIRE AND THE CAPACITY TO PURSUE A COLLEGE DEGREE WHILE THEY ARE STILL IN AREA HIGH SCHOOLS IN ORDER TO PREPARE THEM TO ATTEND MONTGOMERY COLLEGE AND, ULTIMATELY, TO RECEIVE THEIR BACHELOR'S DEGREE. OUR FACULTY AND STAFF ARE DEDICATED TO ENSURING THE COLLEGE FULFILLS ITS MISSION, WHICH IS TO EMPOWER OUR STUDENTS TO CHANGE THEIR LIVES AND ENRICH THE LIFE OF OUR COMMUNITY, AND WE THANK OUR DONORS WHO MAKE THIS POSSIBLE. 2735735 2961133 FACILITIES EXPANSION SUPPORT:THE PURPOSE OF THE FOUNDATION IS TO RAISE FUNDS FOR THE BENEFIT OF AND TO OTHERWISE SUPPORT MONTGOMERY COLLEGE. IN ADDITION, THE FOUNDATION BORROWS FUNDS ON BEHALF OF THE COLLEGE TO PURCHASE REAL ESTATE FOR THE USE OF THE COLLEGE OR OTHERWISE IN FURTHERANCE OF THE COLLEGE'S MISSION. THE FOUNDATION HAS PROVIDED ASSISTANCE TO THE COLLEGE THROUGH A SERIES OF MUNICIPAL BOND OFFERINGS. THROUGH THESE PROJECTS, THE COLLEGE HAS BEEN ABLE TO BUILD TWO PARKING GARAGES, PURCHASE TWO BUILDINGS FOR OFFICES AND CLASSROOMS, AND REMODEL A BUILDING TO CREATE AN ART CENTER. 1242795 1242795 STUDENT AND FACULTY SUPPORT:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $1.2 MILLION IN GRANTS SUPPORTING A VARIETY OF ACADEMIC PROGRAMS THAT REFLECT THE TALENTS AND INTERESTS OF MONTGOMERY COLLEGE'S STUDENT BODY INCLUDING, BUT NOT LIMITED TO, OUR GLOBAL HUMANITIES INSTITUTE (GHI), OUR SOUTHERN MANAGEMENT LEADERSHIP PROGRAM AND OUR MACKLIN BUSINESS INSTITUTE (MBI). GHI WAS CREATED TO ENSURE OUR CURRICULA ARE DEVELOPED WITH A GLOBAL PERSPECTIVE IN ORDER TO PREPARE OUR STUDENTS FOR THE NEEDS OF TODAY'S EMPLOYERS. (CONTINUED ON SCHEDULE O)THIS PROGRAM WAS LAUNCHED AFTER WE SECURED A PRESTIGIOUS CHALLENGE GRANT FROM THE NATIONAL ENDOWMENT FOR THE HUMANITIES, WHICH LED TO THE COLLEGE EMBARKING ON A $1 MILLION FUNDRAISING CAMPAIGN. THE SOUTHERN MANAGEMENT LEADERSHIP PROGRAM IS A SCHOLARSHIP INITIATIVE DESIGNED TO EDUCATE OUR STUDENTS WHO HAVE AN INTEREST IN ENTREPRENEURSHIP AND AN ENTHUSIASM FOR STARTING A BUSINESS VENTURE OR LEADING A COMPANY. THE GOAL OF THIS INNOVATIVE PROGRAM IS TO SUPPORT, DEVELOP, AND GRADUATE ETHICAL LEADERS WHO WANT TO ENERGIZE AND GIVE BACK TO THEIR LOCAL COMMUNITIES. ADDITIONALLY, OUR MACKLIN BUSINESS INSTITUTE PROVIDES ITS BUSINESS STUDENTS WITH AN EXPERIENTIAL LEARNING PROGRAM, PROVIDING A HANDS-ON EXPERIENCE IN THE BUSINESS WORLD WITHIN OUR COMMUNITY. BY COUPLING REAL-LIFE EXPERIENCE WITH WHAT STUDENTS ARE LEARNING IN BUSINESS CLASSES, MBI STUDENTS ARE OFTEN BETTER PREPARED TO SUCCEED WHEN THEY TRANSFER TO TOP BUSINESS SCHOOLS. FISCAL YEAR 2020 HAS BEEN A VERY CHALLENGING YEAR FOR MONTGOMERY COLLEGE STUDENTS DUE TO THE COVID-19 PANDEMIC. AS MANY OF OUR STUDENTS WORK TO PAY FOR BASIC LIVING EXPENSES AND THEIR EDUCATION, THE LOSS OF EMPLOYMENT WAS PARTICULARLY DEVASTATING. THE MONTGOMERY COLLEGE FOUNDATION, ALONG WITH MONTGOMERY COLLEGE, WORKED TO IDENTIFY RESOURCES TO HELP STUDENTS PAY FOR THEIR CLASSES AND PURCHASE LAPTOPS FOR DISTANCE LEARNING ,AS WELL AS PROVIDE SUPPORT FOR BASIC LIVING EXPENSES SUCH AS FOOD, RENT AND UTILITIES. 6924498 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 23 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA FL MI MD MA NH NY PA WV NJ X DONNA PINA 2405677381 9221 CORPORATE BOULEVARD ROCKVILLE MD 20850 JOYCE MATTHEWS EXECUTIVE DIRECTOR 40.00 X 0 126307 69407 ROBERT JOHN HYDORN DIRECTOR 1.00 X 0 0 0 SAMUEL M SPIRITOS DIRECTOR 1.00 X 0 0 0 DONNA PINA DIRECTOR OF FOUNDATION FINANCE 40.00 X 0 128225 31818 KENNETH H BECKER CHAIR 5.00 X X 0 0 0 J STEPHEN MCAULIFFE III VICE CHAIR 2.00 X X 0 0 0 MARY PAT ALCUS TREASURER 3.00 X X 0 0 0 ALEXANDER R M BOYLE DIRECTOR 1.00 X 0 0 0 ASHLEY B CHENG DIRECTOR 1.00 X 0 0 0 MARTIN P COLBURN DIRECTOR 1.00 X 0 0 0 KENNETH C COOK DIRECTOR 1.00 X 0 0 0 WILLIAM C FOOTE DIRECTOR 1.00 X 0 0 0 ANNE L GUNSTEENS DIRECTOR 1.00 X 0 0 0 R WILLIAM HARD DIRECTOR 1.00 X 0 0 0 DAWN T HARRIS DIRECTOR 1.00 X 0 0 0 ALLISON HENDERSON DIRECTOR 1.00 X 0 0 0 CONNIE O MCGUIRE DIRECTOR 1.00 X 0 0 0 MICHAEL S PAUKSTITUS DIRECTOR 1.00 X 0 0 0 KATHRYN T PONG DIRECTOR 1.00 X 0 0 0 VIRA SAFAI DIRECTOR 1.00 X 0 0 0 CATHERINE F SCOTT DIRECTOR 1.00 X 0 0 0 ABIGAIL SELDIN DIRECTOR 1.00 X 0 0 0 ROBERTA SHULMAN DIRECTOR 1.00 X 0 0 0 JEFFREY Z SLAVIN DIRECTOR 1.00 X 0 0 0 MORGAN SULLIVAN DIRECTOR 1.00 X 0 0 0 ERICA L WEBBER DIRECTOR 1.00 X 0 0 0 CRISTOPHER J WHITE DIRECTOR 1.00 X 0 0 0 LINDA A YOUNGENTOB DIRECTOR 1.00 X 0 0 0 MICHAEL YUEN DIRECTOR 1.00 X 0 0 0 0 254532 101225 0 0 1 0 GRENZEBACH GLIER & ASSOCIATES INC 200 S MICHIGAN AVE CHICAGO IL 60604 FUNDRAISING INDUSTRY CONSULTING 111122 1 114992 12460 5875740 86638 6003192 RENTAL INCOME FROM COLLEGE 532000 2961133 2961133 2961133 794447 794447 9788 9788 21813 21813 21198835 20965050 233785 233785 233785 37139 114992 60041 -22902 -22902 10001256 2961133 0 1036931 1148030 1148030 3040733 3040733 26530 26530 21255 21255 103670 103670 215813 83327 132486 138085 12301 125784 12751 3796 8955 2735735 2735735 7609 7609 33446 8731 24715 7483657 6924498 267219 291940 1056410 1016900 7218521 8460558 1319680 2473317 6817 4558 45779 31412 2750000 2750000 2750000 28943428 27102742 78839985 74644526 120180620 116484013 640985 545974 82176850 77268461 809473 797434 83627308 78611869 X 1425746 1220720 35127566 36651424 36553312 37872144 120180620 116484013 X 2517599 -1141162 -57605 X 0 1 X 1 0 X 4398908 2747513 3477803 3885553 6003192 20512969 438641 467823 555032 501495 599802 2562793 4837549 3215336 4032835 4387048 6602994 23075762 1951311 21124451 571238 605003 705783 761905 826048 3469977 26545739 13717231 0.79580 0.81860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28581260 1942286 -235711 1380865 28906970 28009790 691076 1122050 1241656 28581260 26136059 959611 2149200 1235080 28009790 23837217 1042076 2420098 1163332 26136059 22434562 1769671 664695 1031711 23837217 0.00000 0.88480 0.11520 0 0 2750000 2750000 2750000 DIPLOMA FRAMES 4526 NET INVESTMENT IN CAPITAL LEASE 74640000 74644526 ANNUITIES PAYABLE 797434 797434 9447822 -1141162 599802 31555 -509805 9957627 103670 -60041 43629 10001256 8128990 599802 149201 749003 7379987 103670 103670 7483657 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS FOR STUDENTS OR SUPPORT FOR COLLEGE PROGRAMS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF ANNUITY 31,555. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE -60,041. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 60,041. ANNUITY PAYMENTS 79,976. UNCOLLECTIBLE PLEDGES 9,184. GOLF TOURNAMENT 152131 114992 37139 6112 15000 18131 20798 152131 114992 37139 6112 15000 18131 20798 60041 -22902 1 MONTGOMERY COLLEGE 9221 CORPORATE BOULEVARD ROCKVILLE MD 20850 520891845 STATE OF MARYLAND 1117116 30914 DONOR REPORTED SUPPLIES & ART WORK SUPPORT OF COLLEGE INITIATIVES 1 0 SCHOLARSHIPS 2323 2945968 N/A N/A EMERGENCY ASSISTANCE 703 94765 N/A N/A PART I, LINE 2: SCHOLARSHIP AWARDS ARE MADE ACCORDING TO DONOR CRITERIA. ALTHOUGH THERE ARE A FEW MERIT BASED SCHOLARSHIPS, MOST SCHOLARSHIPS ARE AWARDED BASED ON FINANCIAL NEED (USING INFORMATION FROM FAFSA). IN ADDITION TO DONOR CRITERIA AND FINANCIAL NEED, SCHOLARSHIP RECIPIENTS ARE REQUIRED TO WRITE A THANK YOU NOTE AND SIGN AN ACCEPTANCE LETTER. THE FOUNDATION WORKS VERY CLOSELY WITH MONTGOMERY COLLEGE'S FINANCIAL AID OFFICE WHICH DETERMINES NEED WITHIN THE STUDENT'S COST OF ATTENDANCE. THE FOUNDATION PROVIDES A SCHOLARSHIP DATA BASE TO THE FINANCIAL AID OFFICE THAT INCLUDES THE CRITERIA FOR THE SCHOLARSHIP AND THE AWARD AMOUNT AVAILABLE. THIS DATA BASE IS USED TO MATCH STUDENTS WITH THE SCHOLARSHIP. SATISFACTORY ACADEMIC PROGRESS IS MONITORED BY THE FINANCIAL AID OFFICE AND IF A STUDENT IS NOT MEETING THE REQUIREMENTS OF THE SCHOLARSHIP, THE SCHOLARSHIP IS EITHER REMOVED OR NOT RENEWED. STUDENT RECIPIENTS ARE TRACKED BY SCHOLARSHIP IN THE ACCOUNTING DATABASE. DONORS RECEIVE THANK YOU NOTES FROM THEIR RECIPIENTS. IN ADDITION, THOSE DONORS WITH ENDOWMENTS, ALSO RECEIVE AN ACCOUNTING OF THEIR ENDOWMENT FUND AND A LIST OF THEIR SCHOLARSHIP RECIPIENTS. 0 0 0 0 0 0 0 0 0 JOYCE MATTHEWS EXECUTIVE DIRECTOR 0 116307 0 0 0 10000 0 7080 0 62327 0 195714 0 0 DONNA PINA DIRECTOR OF FOUNDATION FINANCE 0 128225 0 0 0 0 0 10175 0 21643 0 160043 0 0 PART I, LINE 3 EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BY THE FOUNDATION'S RELATED ORGANIZAITON, MONTGOMERY COLLEGE. THE COLLEGE'S CLASSIFICATION AND COMPENSATION TEAM ADMINISTERS THE COLLEGE'S COMPENSATION PROGRAM. AMONG OTHER DUTIES, TEAM ACTIVITIES INCLUDE: ENSURING COMPLIANCE WITH FEDERAL AND STATE LAWS AND REGULATIONS, AS WELL AS COLLEGE POLICIES AND PROCEDURES GOVERNING CLASSIFICATION AND COMPENSATION. ENSURING THAT THE COLLEGE'S COMPENSATION PROGRAM IS GUIDED BY AND SUPPORTS THE COMPENSATION PHILOSOPHY AND THE COLLEGE'S MISSION AND GOALS. EVALUATING DUTIES AND RESPONSIBILITIES OF INDIVIDUAL POSITIONS AND OCCUPATIONAL CLASSES TO ENSURE THAT POSITIONS ARE CORRECTLY ASSIGNED TO AN APPROPRIATE GRADE LEVEL WITHIN THE ORGANIZATION. CONDUCTING MARKET SALARY SURVEYS AND ANALYSES TO ENSURE THAT COLLEGE PAY LEVELS ARE COMPETITIVE WITH THE EXTERNAL JOB MARKET. CONDUCTING STUDIES OF POSITIONS AND JOB CLASSES ON A REGULAR MAINTENANCE SCHEDULE OR IN RESPONSE TO REORGANIZATION, REALLOCATION OF RESOURCES, MAJOR CHANGES IN WORK RESPONSIBILITIES OR TECHNOLOGY, OR IN RESPONSE TO UNIQUE OR UNANTICIPATED CIRCUMSTANCES. A MONTGOMERY COUNTY REVENUE AUTHORITY 520694793 613366JJ3 2011-09-01 6988453 SERIES 2011A BONDS 0 0 0 B MONTGOMERY COUNTY REVENUE AUTHORITY 520694793 613366JW4 2014-11-19 24765089 SERIES 2014 BONDS 0 0 0 C MONTGOMERY COUNTY REVENUE AUTHORITY 520694793 61336RBX4 2015-06-23 29666104 SERIES 2015 BONDS 0 0 0 D MONGOMERY COUNTY MARYLAND 526000980 61334EBV9 2016-07-27 24378788 SERIES 2016 BONDS 0 0 0 A 6988453 130383 6797193 60877 2011 0 0 1 1 B 24765089 24384744 380345 0 1 1 1 C 29666104 759619 15198671 457813 13250001 0 1 0 1 D 24378788 404615 23051413 922760 0 0 1 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 C 0 0 0 1 0 0 0 0 0 D 0 1 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MONTGOMERY COUNTY REVENUE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/29/2015 FORM 990, SCHEDULE K: THE FOUNDATION BORROWED THE PROCEEDS OF THE SEIRES 2011A BONDS TO PURCHASE A BUILDING ON THE GERMANTOWN CAMPUS OF MONTGOMERY COLLEGE. THE FOUNDATION BORROWED THE PROCEEDS OF THE SERIES 2014 BONDS TO REFUND ALL OF THE OUTSTANDING SERIES 2005A BONDS WHICH FINANCED THE RENOVATION AND CONSTRUCTION OF THE CAFRITZ ART CENTER. THE FOUNDATION BORROWED THE PROCEEDS OF THE SERIES 2015 BONDS TO REFUND ALL OF THE OUTSTANDING SERIES 2008A BONDS, WHICH FINANCED THE CONSTRUCTION OF A PARKING GARAGE ON THE TAKOMA PARK/SILVER SPRING CAMPUS OF MONTGOMERY COLLEGE, AND FINANCED A PORTION OF THE CONSTRUCTION OF A PARKING GARAGE ON THE ROCKVILLE CAMPUS OF MONTGOMERY COLLEGE. THE FOUNDATION BORROWED THE PROCEEDS OF THE SERIES 2016 CERTIFICATES OF PARTICIPATION TO PURCHASE AND RENOVATE A BUILDING OF APPROXIMATELY 115,000 SQUARE FEET TO HOUSE MONTGOMERY COLLEGE CENTRAL SERVICES AND ADMINISTRATIVE SERVICES OFFICES. THE REBATE COMPUTATIONS WERE PERFORMED ON 6/23/20 FOR SERIES 2015, 11/19/19 FOR SERIES 2014, AND 12/15/17 FOR SERIES 2008. X 2 7291 DONOR REPORTED X 8 49612 AVERAGE STOCK VALUE X FOOD DONATIONS 8 14252 DONOR VALUE/FACE VAL X EQUIPMENT/ MATERIALS 12 8221 DONOR VALUE X AUCTION ITEMS 8 6112 FACE VALUE X ART SUPPLIES 3 1150 DONOR VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS DELEGATED THE AUTHORITY AND POWERS OF THE BOARD WHEN THE BOARD IS NOT IN SESSION. NOTWITHSTANDING THE FOREGOING, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE FOLLOWING POWERS: AMENDING THE ARTICLES OF INCORPORATION OR BYLAWS; AUTHORIZING LOANS, UNLESS DELEGATED BY RESOLUTION OF THE BOARD; CONVEYING OR TRANSFERRING ANY PROPERTY OR ASSETS OF THE FOUNDATION, UNLESS DELEGATED BY RESOLUTION OF THE BOARD; AND ACTING ON MATTERS RESERVED FOR ACTION BY THE BOARD IN THE ARTICLES OF INCORPORATION AND BYLAWS. THE EXECUTIVE COMMITTEE SHALL CONSIST OF: CHAIR; VICE CHAIR; TREASURER; IMMEDIATE PAST CHAIR; AT LEAST ONE DIRECTOR ELECTED AS AN ATLARGE REPRESENTATIVE OF THE BOARD AT THE ANNUAL MEETING FOR A ONE YEAR TERM; CHAIR OF THE DEVELOPMENT AND IMPACT COMMITTEE; CHAIR OF THE REAL ESTATE COMMITTEE; CHAIR OF THE GOVERNANCE/AUDIT COMMITTEE; AND CHAIR OF THE STRATEGIC PLANNING COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND IS REVIEWED BY THE FOUNDATION FINANCE STAFF. QUESTIONS AND PROPOSED CHANGES ARE THEN DISCUSSED WITH THE FOUNDATION'S INDEPENDENT ACCOUNTANT, AND APPROPRIATE REVISIONS ARE MADE. FOUNDATION FINANCE STAFF AND THE FOUNDATION'S INDEPENDENT ACCOUNTANT THEN MEET WITH THE FOUNDATION'S GOVERNANCE/AUDIT COMMITTEE TO REVIEW THE 990. ADDITIONAL CHANGES, IF ANY, ARE INCORPORATED INTO THE 990 WHICH IS THEN PRESENTED TO THE FOUNDATION EXECUTIVE COMMITTEE FOR AN ADDITIONAL REVIEW. FINALLY, IT IS PRESENTED TO THE FOUNDATION BOARD FOR APPROVAL PRIOR TO SUBMISSION WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE TIME OF APPOINTMENT OR HIRING AND ANNUALLY THEREAFTER, EACH FOUNDATION BOARD MEMBER, OFFICER, OR VOLUNTEER ACTING IN AN EQUIVALENT CAPACITY (EACH A "COVERED PERSON") MUST DISCLOSE HIS OR HER (AND A FAMILY MEMBER'S) FINANCIAL INTEREST(S) AS WELL AS ANY OTHER ACTUAL OR POTENTIAL INTEREST(S) OR RELATIONSHIP(S) THAT MIGHT BE CONSTRUED AS AFFECTING HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF HIS OR HER DECISION-MAKING AUTHORITY OR FIDUCIARY RESPONSIBILITY. A COVERED PERSON SHALL MAKE SUCH DISCLOSURES ON THE FOUNDATION'S DISCLOSURE FORM AND SUBMIT IT TO THE CHAIR OF THE FOUNDATION BOARD OR HIS/HER DESIGNEE AT THE TIME OF APPOINTMENT OR HIRE AND THEREAFTER ANNUALLY BY JULY 1, THE BEGINNING OF THE FOUNDATION'S FISCAL YEAR. IF THERE IS ANY CHANGE TO A COVERED PERSON'S FINANCIAL INTERESTS OR OTHER REPORTABLE INTERESTS OR RELATIONSHIPS DURING THE FISCAL YEAR, THE COVERED PERSON SHALL PROMPTLY AMEND HIS OR HER DISCLOSURE FORM. THE BOARD CHAIR, IN CONSULTATION WITH THE FOUNDATION'S LEGAL COUNSEL AND EXECUTIVE COMMITTEE, WILL REVIEW THE DISCLOSURE FORMS AND DETERMINE WHETHER A COVERED PERSON HAS AN ACTUAL, POTENTIAL, OR APPARENT CONFLICT OF INTEREST. A COVERED PERSON WITH AN ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST MAY MAKE A PRESENTATION AT A MEETING OF THE FOUNDATION BOARD OR ONE OF ITS COMMITTEES. A COVERED PERSON MUST DISCLOSE HIS OR HER INTEREST PRIOR TO THE FOUNDATION BOARD'S OR COMMITTEE'S DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR ARRANGEMENT INVOLVING THE COVERED PERSON'S ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST. HE OR SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, SUCH PROPOSED TRANSACTION OR ARRANGEMENT. THE FOUNDATION BOARD OR COMMITTEE MAY APPROVE THE TRANSACTION OR ARRANGEMENT BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS PRESENT AND VOTING IF THE TRANSACTION OR ARRANGEMENT IS FAIR AND REASONABLE TO THE FOUNDATION. MINUTES OF A FOUNDATION BOARD, COMMITTEE, OR ANY OTHER SUCH MEETING SHALL INCLUDE THE NAME(S) OF ANY PERSON WHO DISCLOSED OR WAS OTHERWISE DETERMINED TO HAVE AN ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST IN A PROPOSED TRANSACTION OR ARRANGEMENT, THE NATURE OF THE INTEREST, AND THE BOARD CHAIR'S CONCLUSION AS TO WHETHER A CONFLICT OF INTEREST EXISTED. THE MINUTES SHALL ALSO IDENTIFY THE PERSONS WHO WERE PRESENT DURING DISCUSSIONS AND VOTES REGARDING THE PROPOSED TRANSACTION OR ARRANGEMENT, DESCRIBE THE SUBSTANCE OF THE DISCUSSION (INCLUDING CONSIDERATION OF ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT), AND RECORD ANY VOTES TAKEN IN RELATION TO THE PROPOSED TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE DIRECTOR AND FINANCE DIRECTOR ARE COMPENSATED BY ITS RELATED ORGANIZATION, MONTGOMERY COLLEGE, AND THEREFORE COMPENSATION DETERMINATION IS PERFORMED BY THE COLLEGE. SEE SUPPLEMENTAL INFORMATION INCLUDED ON SCH J, PART III. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 13 THE FOUNDATION DOES NOT EMPLOY ANY INDIVIDUALS; ALL INDIVIDUALS WHO WORK FOR THE FOUNDATION ARE INSTEAD EMPLOYED BY ITS RELATED ORGANIZATION, MONTGOMERY COLLEGE. THE COLLEGE HAS ADOPTED A WHISTLEBLOWER POLICY WHICH COVERS ALL EMPLOYEES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE - ANNUITY 31,555. UNCOLLECTIBLE PLEDGES -9,184. ANNUITY PAYMENTS -79,976. MONTGOMERY COLLEGE 9221 CORPORATE BLVD ROCKVILLE MD 20850 520891845 COLLEGE - EDUCATION MD N/A 0 0 1 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 MONTGOMERY COLLEGE B 1148030 INCURRED AND RECOGNIZED EXPENSE MONTGOMERY COLLEGE J 2961133 EARNED AND RECOGNIZED REVENUE MONTGOMERY COLLEGE O 599802 FMV OF CONTRIBUTED SERVICES