2019-01-21T12:41:34-08:00 2018-06-30 261262413 Petersen CPAs & Advisors PLLC 3702 Kern Road Yakima WA 98902 990 2017-07-01 911028928 FOUNDATION OF YAKIMA VALLEY COLLEGE FOUN 5095744645 PO BOX 22520 YAKIMA WA 98907 GLENN RASMUSSEN PRESIDENT 2019-01-21 true Angela M Pratt CPA P00234617 5095751040 2017 2019-02-21 02:37:17Z GLENN RASMUSSEN PO BOX 22520 YAKIMA WA 98907 746241 false false X WWW.YVCC.EDU/FOUNDATION X 1977 WA The Foundation is organized exclusively for charitable and educational purposes. Our main focus is awarding scholarships to students, yearly awards for faculty/staff and assisting in the promotion and support of Yakima Valley College educational programs. 17 17 1 16 0 211135 244860 0 298245 501381 0 509380 746241 578518 627415 0 44295 44919 0 0 82770 86407 705583 758741 -196203 -12500 11632475 12094493 584190 672078 11048285 11422415 The Foundation is organized exclusively for charitable and educational purposes. Our main focus is awarding scholarships to students, yearly awards for faculty/staff and assisting in the promotion and support of Yakima Valley College educational programs. false false 758741 Awarding scholarships to students is our main focus and our largest expenditure. We have awarded over $4.8 million in scholarships to approximately 5,200 students in the 41 years we have been in existence. The Foundation also raised matching funds for the SBCTC Exceptional Faculty Program in 1998. $350,000 was matched by the State of WA to make awards available yearly to faculty working at Yakima Valley College (YVC). 77% of the total expenses were spent on scholarships and awards. The revenue we generate yearly comes from donors who want to establish scholarships with us and the investment income generated by those donations. We require a $5,000 donation to set up a perpetual scholarship whereby we only award the income from the prior year and keep initial donation intact. We charge a 0.5%-1.5% administrative fee yearly to pay for administrative costs in our office. The fees charged are based on prior year's performance and income generated. We also accept donations where the donor wants the whole donation to be awarded and no investment income is generated and we do not charge these funds with the administrative fee. Our Foundation has been given millions of dollars by incredible people who want to further the educations of students who wouldn't be able to attend college if not for the scholarship. A list of our scholarships with their criteria is available at yvcc.edu/scholarships. 758741 true true false false false false false false false true false false false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true false false false true 3 0 true 1 true false false false false false false false false 0 false false false false false false false false false false X 17 17 true false false false false false false true true false false true true true true true true false false false WA X X STACEY KAUTZ 5095744645 SOUTH 16TH NOB HILL YAKIMA WA 989072820 GLENN RASMUSSEN PRESIDENT 1.00 0.00 X X 0 0 0 PAT GILMORE VICE PRESIDENT 1.00 0.00 X X 0 0 0 BRENDA BRINK BOARD MEMBER 1.00 0.00 X 0 0 0 ANN MILLER SECRETARY 1.00 0.00 X X 0 0 0 PAUL MCDONALD BOARD MEMBER 1.00 0.00 X 0 0 0 LESLIE EGLIN BOARD MEMBER 1.00 0.00 X 0 0 0 JIM FITCH BOARD MEMBER 1.00 0.00 X 0 0 0 NEIL MCCLURE BOARD MEMBER 1.00 0.00 X 0 0 0 TOM MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 JEAN BROWN BOARD MEMBER 1.00 0.00 X 0 0 0 DR LINDA KAMINSKI BOARD MEMBER 1.00 0.00 X 0 0 0 ERIC RASMUSSEN BOARD MEMBER 1.00 0.00 X 0 0 0 GLENN RICE BOARD MEMBER 1.00 0.00 X 0 0 0 CLARK SANDOZ BOARD MEMBER 1.00 0.00 X 0 0 0 MARY SUNDQUIST TREASURER 1.00 0.00 X X 0 0 0 JANET WHITE BOARD MEMBER 1.00 0.00 X 0 0 0 RICHARD ELLIOTT BOARD MEMBER 1.00 0.00 X 0 0 0 STACEY KAUTZ EXECUTIVE DIR. 16.00 0.00 X 36000 0 6222 36000 6222 0 false false false 0 244860 244860 0 501381 501381 0 0 0 0 0 0 0 0 746241 501381 0 627415 627415 0 0 44919 44919 0 0 0 0 0 0 0 17000 17000 0 0 65514 65514 0 0 1346 1346 0 0 0 757 757 0 0 0 0 0 1715 1715 license and permits 75 75 0 758741 758741 0 0 620815 996182 462441 466075 0 0 0 0 0 0 0 0 10549219 10632236 0 0 0 0 11632475 12094493 2066 584190 670012 584190 672078 X -800925 -804383 4465144 4769483 7384066 7457315 11048285 11422415 11632475 12094493 -12500 386630 X false true X true true true X 134301 463566 53159 76962 71770 799758 0 0 134301 463566 53159 76962 71770 799758 422828 376930 346977 451553 443936 298245 501381 2042092 0 0 2841850 0.13260 0.15520 X Current Year Facts and Circumstances: The Organization maintains a continuous and bona fide program for solicitation of funds from the general public and community. The Organization receives the majority of their support from private contributions. The Organization has a governing body which represents the board interest of the public. The Organization provides financial assistance to students on a regular/continuing basis. Prior Year Facts and Circumstances: The Organization maintains a continuous and bona fide program for solicitation of funds from the general public and community. The Organization receives the majority of their support from private contributions. The Organization has a governing body which represents the board interest of the public. The Organization provides financial assistance to students on a regular/continuing basis. 9977699 73249 888011 261126 96589 150233 10431011 9023138 87630 1300691 221979 92701 119080 9977699 9411242 133744 -150848 183034 84658 103308 9023138 8881885 949422 -27956 218345 90200 83564 9411242 7791338 106385 1243541 139112 62970 57297 8881885 0.71000 0.29000 false false false Due to Related Organizations 15512 Scholarships payable 654500 670012 X 1283104 386630 150233 536863 746241 746241 908974 150233 150233 758741 758741 Part V, Line 4: Intended uses of the endowment fund. To provide students with scholarships and assist Yakima Valley College. Part X : FIN48 Footnote The Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Foundation is not considered a private foundation. However, income from certain activities not directly related to the Foundations tax exempt purpose could be subject to taxation as unrelated business income. As the Foundation has not engaged in any unrelated business activity, no expense for federal income taxes is reflected in these financial statements.Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability (or asset) if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by taxing authorities. Management has analyzed the tax position taken by the Foundation, and has concluded that as of June 30, 2018 and 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Foundation is subject to audits by taxing authorities; however, there are currently no audits for any tax periods in progress. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 ADMINISTRATIVE FEES $150233 Part XII, Line 2d: Other expenses and losses per audited F/S ADMINISTRATIVE FEES $150233 true 0 0 Scholarships for students at YVCC 210 627415 Grantmaker's Description of How Grants are Used We report to the DOE yearly to show grant activity on the Endowment Financial Reporting System Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et Eric Rasmussen, board member, and Glenn Rasmussen, President, have family and business relationships. Form 990, Part VI, Line 11b: Form 990 Review Process A copy of the Form 990 is presented to the audit committee for review before submitted. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Directors are issued a policies and procedures manual when appointed. The Organization goes through the items within the manual including conflict of interest policy and the form that is to be completed if the board member sees a conflict. Annually, when the Organization updates their manuals, they review the policies and procedures including the conflict of interest policy and it is reiterated that the form provided to the board members is to be completed and returned to the board of directors if a conflict of interest is present. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The 990 is available upon request and is also on-line at Guidestar. Yakima Valley College PO BOX 22520 YAKIMA WA 98907 EDUCATIONAL INSTITUT WA 107(C)(1) SEC 115 N/A false false false false false false false false false false false false false false false false false false false false