2018-07-30T18:37:51-05:00 2017-12-31 910605875 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2017-01-01 911182444 LAKE WASHINGTON COLLEGE FOUNDATION C/O LAKE WA INSTITUTE OF TECHNOLOGY LAKE 4257398100 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 WILLIAM F THOMAS EX OFFICIO OFFICER 4257398100 2018-07-18 1 MATTHEW R MATSON P00775671 2063827777 2018-07-19 2017 2022-09-23 18:48:47Z DIANE HAELSIG 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 743572 0 X WWW.LWTECH.EDU/ABOUT_LWIT/FOUNDATION.HTML X 1949 WA PROVIDE LAKE WASHINGTON INSTITUTE OF TECHNOLOGY THE MARGIN OF SUPPORT NECESSARY TO ACHIEVE EDUCATIONAL EXCELLENCE AND TO EXPAND THE FINANCIAL BASIS FOR QUALITY THAT LIES BEYOND THE SCOPE OF LEGISLATIVE FUNDING THROUGH INDIVIDUAL, CORPORATE, AND COMMUNITY PARTNERSHIPS. 18 18 0 55 0 0 510985 617915 17461 18745 67333 89562 -6203 -12897 589576 713325 316303 354647 0 0 0 0 0 0 0 80099 96168 396402 450815 193174 262510 2610324 3063700 0 0 2610324 3063700 PROVIDE LAKE WASHINGTON INSTITUTE OF TECHNOLOGY THE MARGIN OF SUPPORT NECESSARY TO ACHIEVE EDUCATIONAL EXCELLENCE AND TO EXPAND THE FINANCIAL BASIS FOR QUALITY THAT LIES BEYOND THE SCOPE OF LEGISLATIVE FUNDING THROUGH INDIVIDUAL, CORPORATE, AND COMMUNITY PARTNERSHIPS. 0 0 18745 THE FOUNDATION PAID THE COLLEGE FOR THE COSTS OF OPERATING A SPACE FOR AN ESPRESSO CART AND RECEIVED REVENUE FROM THE ESPRESSO STAND AND ART RENTAL. 123319 123319 THE FOUNDATION RECEIVES CONTRIBUTIONS FROM VARIOUS DONORS INCLUDING THE PEIERLS FOUNDATION. THESE FUNDS ARE FOR THE BENEFIT OF COLLEGE PROGRAMS, THEIR STUDENTS, AND OUR IN HOUSE HIGH SCHOOL ACADEMY PROGRAM. IN 2017, WE SPENT ABOUT $69,500 FOR GAS CARDS, LUNCHES, AND CLASS SUPPORT FOR ACADEMY STUDENTS. THE FOUNDATION SPENT $11,300 TO SUPPORT LWIT STUDENT INTER-COLLEGE COMPETITIONS/CONFERENCE, AND $18,400 FOR FACULTY PROGRAM CONFERENCES. 231328 231328 THE FOUNDATION RECEIVES VARIOUS CONTRIBUTIONS FROM DONORS AND AWARDS THE DONATIONS TO STUDENTS. IN 2017, OVER $231,000 WAS AWARDED TO STUDENTS. 354647 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 1 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X XIENG LIM 4257398100 11605 132ND AVE NE KIRKLAND WA 98034 X DIANE HALESIG PRESIDENT 2.00 X X 0 0 0 TEDDY OVERLEESE VICE PRESIDENT 2.00 X X 0 0 0 DR DAN FROST SECRETARY 2.00 X X 0 0 0 SOLOMON KARMEL TREASURER 2.00 X X 0 0 0 JOHN FEISTNER TREASURER 2.00 X X 0 0 0 EMILY BOLEN BOARD OF DIRECTORS 2.00 X 0 0 0 SHELLI DEAN BOARD OF DIRECTORS 2.00 X 0 0 0 KATE BUTCHER BOARD OF DIRECTORS 2.00 X 0 0 0 CLARA HOLLIN BOARD OF DIRECTORS 2.00 X 0 0 0 RICHARD LERZ BOARD OF DIRECTORS 2.00 X 0 0 0 ANGELA MARTIN-DAVIS BOARD OF DIRECTORS 2.00 X 0 0 0 BRENDA NUNES BOARD OF DIRECTORS 2.00 X 0 0 0 MICHAEL ROYSTON BOARD OF DIRECTORS 2.00 X 0 0 0 BILL SHELBY BOARD OF DIRECTORS 2.00 X 0 0 0 DIANE TOOMEY BOARD OF DIRECTORS 2.00 X 0 0 0 SHELLI CALVERT BOARD OF DIRECTORS 2.00 X 0 0 0 DAVE BERKEY BOARD OF DIRECTORS 2.00 X 0 0 0 AMY MORRISON GOINGS EX OFFICIO DIRECTOR 2.00 X 0 0 0 NOLAN KORESKI EX OFFICIO DIRECTOR 2.00 X 0 0 0 LAURA WILDFONG EX OFFICIO DIRECTOR 2.00 X 0 0 0 BILL THOMAS EX OFFICIO DIRECTOR 2.00 X 0 0 0 ELLEN MILLER-WOLFE EX OFFICIO DIRECTOR 2.00 X 0 0 0 SENATOR ROSEMARY MCAULIFFE EX OFFICIO DIRECTOR 2.00 X 0 0 0 ELISABETH SORENSEN EX OFFICIO DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 10000 180839 427076 118590 617915 RENTAL INCOME 531190 18745 18745 18745 89434 89434 5718 5590 128 128 128 11760 180839 24657 -12897 -12897 713325 18745 0 76665 123319 123319 231328 231328 43777 43777 8900 8900 13842 13842 3323 3323 2862 2862 199 199 17129 17129 MISCELLANEOUS 3361 3361 EVENT COSTS 2775 2775 450815 354647 96168 0 170877 254644 2439447 2809056 2610324 3063700 0 0 X 283020 430071 1083346 1258947 1243958 1374682 2610324 3063700 2610324 3063700 262510 190866 0 X X 0 1 X 0 0 X 464407 332818 432298 510985 617915 2358423 464407 332818 432298 510985 617915 2358423 638383 1720040 41151 55641 66857 67333 89434 320416 900 600 600 300 2400 2681239 81516 0.64150 0.58030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RENTAL INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1443919 140724 144141 27500 10000 7084 1684200 1235058 153621 83391 22737 5414 1443919 1109423 164488 -24419 9991 4443 1235058 1062655 25000 30348 4618 3962 1109423 863457 131000 81937 9547 4192 1062655 0.00000 0.81620 0.18380 0 0 0 928848 190866 24657 215523 713325 0 713325 475472 24657 24657 450815 0 450815 PART V, LINE 4: PROVIDE LAKE WASHINGTON TECHNICAL COLLEGE STUDENTS AND FACULTY THE MARGIN OF SUPPORT NECESSARY TO ACHIEVE EDUCATIONAL EXCELLENCE AND TO EXPAND THE FINANCIAL BASIS FOR QUALITY THAT LIES BEYOND THE SCOPE OF LEGISLATIVE FUNDING THROUGH INDIVIDUAL, CORPORATE AND COMMUNITY PARTNERSHIPS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE INCLUDED ON PAGE 9, LINE 8B 24,657. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE INCLUDED ON PAGE 9, LINE 8B 24,657. BENEFIT BREAKFAST 163334 158334 5000 3305 458 8553 PLANT SALE 29265 22505 6760 12341 192599 180839 11760 3305 458 20894 24657 -12897 1 LAKE WASHINGTON INSTITUTE OF TECHNOLOGY 11605 132ND AVE NE KIRKLAND WA 98034 911182444 501(C)(3) 123319 PROVIDE ASSISTANCE TO STUDENTS FOR CONFERENCES AND COMPETITIONS. ALSO PROVID 1 DIRECT FINANCIAL AID TO STUDENTS 32 5963 FINANCIAL AID THROUGH THE COLLEGE FOR STUDENTS 181 225365 PART I, LINE 2: STUDENT APPLICATIONS FOR GRANTS LISTED ON THE COLLEGE'S WEBSITE ARE REVIEWED AND AWARDED BY A COLLEGE COMMITTEE WHICH INCLUDES FINANCIAL AID PERSONNEL. OTHER AWARDS, PROCESSED THROUGH SPECIFIC FOUNDATION DEPARTMENT OR SCHOLARSHIP ACCOUNTS, ARE REQUESTED BY THE COLLEGE FACULTY AND APPROVED BY THE APPROPRIATE DEAN AND/OR VICE PRESIDENT. EACH YEAR, THE FOUNDATION EXECUTIVE DIRECTOR AND BOARD DECIDE IF AND HOW MUCH THEY WILL AUTHORIZE TO BE GIVEN TO THE COLLEGE FOR STUDENT EMERGENCY FUNDING. AFTER AWARDS ARE GRANTED, ALL DISBURSEMENT REQUESTS ARE GIVEN TO THE FOUNDATION DEPARTMENT WHERE THEY ARE REVIEWED BY THE EXECUTIVE DIRECTOR FOR THE FOUNDATION. FOUNDATION ACCOUNTS ARE REVIEWED ON MANY LEVELS. THE INDIVIDUAL MANAGERS OF PROGRAMS OR SCHOLARSHIPS ARE GIVEN MONTHLY REPORTS TO REVIEW. THE FOUNDATION EXECUTIVE DIRECTOR AND THE FOUNDATION BOARD MEMBERS REVIEW AND DISCUSS ALL FOUNDATION ACCOUNTS AS REQUIRED. THE FOUNDATION DIRECTOR RECEIVES A REPORT OF COLLEGE RECORDS WHICH LISTS THE AWARDS DISBURSED BY THE COLLEGE FOR BOTH WEB AWARDS AND EMERGENCY GRANTS. THE FINANCIAL AID DEPARTMENT RECEIVES A LIST QUARTERLY OF ALL AWARDS THAT WERE NOT PROCESSED THROUGH THE COLLEGE, BUT WERE GIVEN TO THE STUDENT DIRECTLY. X 3 63000 FMV X 1 5590 FMV X PRINTING/MACHINING TOOLS 2 50000 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT FORM 990 IS DISTRIBUTED TO MEMBERS FOR REVIEW. A SCHEDULED MEETING FOR REVIEW AND DISCUSSION WITH OUR ACCOUNTING FIRM IS MADE. FORM 990, PART VI, SECTION B, LINE 12C DISCLOSURE REQUIRED WITH YEARLY QUESTIONNAIRE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE ON THE COLLEGE'S WEBSITE. FORM 990, PART VI, SECTION B, LINE 13: THERE ARE TWO COLLEGE EMPLOYEES WHO WORK FOR THE FOUNDATION THAT ARE COVERED UNDER THE STATE OF WASHINGTON WHISTLE BLOWER POLICY. FORM 990, PART IX, LINE 1 THE FOUNDATION'S POLICY IS TO PREPARE ITS FINANCIAL STATEMENTS ON THE CASH RECEIPTS AND DISBURSEMENTS BASIS OF ACCOUNTING EXCEPT FOR THE RECOGNITION OF INVESTMENTS AT FAIR VALUE. THEREFORE, ALL OTHER REVENUE AND RELATED ASSETS ARE RECOGNIZED WHEN RECEIVED, AND EXPENSES WHEN PAID RATHER THAN WHEN THE OBLIGATION IS INCURRED.