2017-05-10T09:42:45-05:00 2016-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2015-07-01 510146485 LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION LORA 4403664039 1005 NORTH ABBE ROAD ELYRIA OH 44035 GARIS DISTELHORST EXECUTIVE DIRECTOR 4403664039 2017-05-04 1 CHRISTOPHER B ANDERSON P00226559 2163630100 2015 2021-01-29 14:40:06Z GARIS DISTELHORST 1005 N ABBE ROAD ELYRIA OH 44035 11003909 0 X WWW.LORAINCCC.EDU/FOUNDATION X 1973 OH THE LORAIN COUNTY COMMUNITY COLLEGE FOUNDATION, A NONPROFIT ORGANIZATION, ASSEMBLES AND UTILIZES RESOURCES TO SUPPORT THE MISSION AND VISION OF LORAIN COUNTY COMMUNITY COLLEGE (LCCC). WE ENHANCE OUR COMMUNITY'S QUALITY OF LIFE BY INVESTING IN KEY LCCC PRIORITIES THAT PRESENT THE GREATEST IMPACT AND GROWTH OPPORTUNITIES FOR THE PEOPLE OF OUR COMMUNITY. 58 58 0 100 0 0 10123517 4062973 396000 97000 1484839 1701781 -23334 -15463 11981022 5846291 3074552 2952972 0 0 475713 537126 0 0 524929 801267 1331333 4351532 4821431 7629490 1024860 46183798 45040056 1122928 1072368 45060870 43967688 X FOR THE FISCAL YEAR ENDED JUNE 30, 2016, THE LCCC FOUNDATION PROVIDED SUPPORT TO EACH OF THE CORNERSTONES OF LORAIN COUNTY COMMUNITY COLLEGE THROUGH SCHOLARSHIPS AND FACULTY DEVELOPMENT (EDUCATION), INNOVATION FUND (ECONOMIC), SUPPORT FOR STOCKER ARTS CENTER PROGRAMMING (CULTURAL), AND SUPPORT FOR CAMPUS GRANTS PROJECTS (COMMUNITY). 1 0 690201 690201 0 SCHOLARSHIP SUPPORT - THE FOUNDATION PROVIDED SCHOLARSHIPS TO OVER 747 STUDENTS OF LORAIN COUNTY COMMUNITY COLLEGE AND/OR LCCC UP PROGRAM. AWARDS ARE MADE BASED ON ACADEMIC SUCCESS, NEED, AND/OR TALENT. 1624862 1587600 97000 INNOVATION FUND - IN FISCAL YEAR 2016, THE FOUNDATION ISSUED $1,587,600 IN AWARDS TO START-UP TECHNOLOGY COMPANIES THAT DEMONSTRATED STRONG GROWTH POTENTIAL FOR JOBS TO HELP TRANSFORM THE ECONOMY OF THE COMMUNITY WHILE PROVIDING STUDENT INTERNSHIPS IN THE AREA OF ENTREPRENEURSHIP. THE AWARDS ARE PAID OVER A TERM OF UP TO SEVERAL YEARS PENDING THE AWARDEE COMPANY'S ABILITY TO REACH SPECIFIED MILESTONES IN ITS DEVELOPMENT. 325427 0 0 THE FOUNDATION PROVIDED FINANCIAL SUPPORT FOR THE DEVELOPMENT OF THE RICHARD DESICH SMART COMMERCIALIZATION CENTER AT LORAIN COUNTY COMMUNITY COLLEGE. 1251633 675171 0 OTHER SUPPORT FOR LORAIN COUNTY COMMUNITY COLLEGE 1251633 675171 0 3892123 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 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 1 0 0 0 1 52 0 1 0 0 0 0 0 0 1 1 0 0 0 0 X 58 58 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 OH X GARIS DISTELHORST 4403664039 1005 N ABBE RD ELYRIA OH 44035 PHILIP AMOS ASSISTANT TREASURER 0.50 0.00 X 0 0 0 PHILLIP BAPTISTE CHAIR 0.50 0.00 X 0 0 0 JOSEPH CERNY DIRECTOR 0.50 0.00 X 0 0 0 RONALD COCCO DIRECTOR 0.50 0.00 X 0 0 0 JAMES CORDES DIRECTOR 0.50 0.00 X 0 0 0 MAUREEN CROMLING DIRECTOR 0.50 0.00 X 0 0 0 JEFF DESICH DIRECTOR 0.50 0.00 X 0 0 0 CATHY DIETLIN VICE CHAIR 0.50 0.00 X 0 0 0 SUSANNE DOTSON DIRECTOR 0.50 0.00 X 0 0 0 KEVIN FLANIGAN DIRECTOR 0.50 0.00 X 0 0 0 JOHN GAUDRY DIRECTOR 0.50 0.00 X 0 0 0 ANTHONY GIARDINI DIRECTOR 0.50 0.00 X 0 0 0 TERRY GOODE DIRECTOR 0.50 0.00 X 0 0 0 MARC GUAY DIRECTOR 0.50 0.00 X 0 0 0 ROBERT HEINRICH DIRECTOR 0.50 0.00 X 0 0 0 DAVID HERZER DIRECTOR 0.50 0.00 X 0 0 0 MARIA HOKE DIRECTOR 0.50 0.00 X 0 0 0 JOHN HRUSKA DIRECTOR 0.50 0.00 X 0 0 0 JOHN HUNTER DIRECTOR 0.50 0.00 X 0 0 0 JANE JONESCO DIRECTOR 0.50 0.00 X 0 0 0 RUSTOM KHOURI DIRECTOR 0.50 0.00 X 0 0 0 DONALD KNECHTGES DIRECTOR 0.50 0.00 X 0 0 0 ROBERT KNIGHT DIRECTOR 0.50 0.00 X 0 0 0 LEE KOURY DIRECTOR 0.50 0.00 X 0 0 0 CLARK LUBASKI DIRECTOR 0.50 0.00 X 0 0 0 JACK MATIA DIRECTOR 0.50 0.00 X 0 0 0 JOSEPH MCALEESE DIRECTOR 0.50 0.00 X 0 0 0 KIM MEYERS DIRECTOR 0.50 0.00 X 0 0 0 JAMES MIRALDI VICE CHAIR 0.50 0.00 X 0 0 0 GREG MULACH DIRECTOR 0.50 0.00 X 0 0 0 STEVE MYERS DIRECTOR 0.50 0.00 X 0 0 0 SARA JANE NORTON DIRECTOR 0.50 0.00 X 0 0 0 EDWIN OLEY DIRECTOR 0.50 0.00 X 0 0 0 DONALD ORTNER DIRECTOR 0.50 0.00 X 0 0 0 THOMAS PILLARI DIRECTOR 0.50 0.00 X 0 0 0 DANIEL REASER SR DIRECTOR 0.50 0.00 X 0 0 0 JUDITH RIDDLE DIRECTOR 0.50 0.00 X 0 0 0 JOHN SCHAEFFER DIRECTOR 0.50 0.00 X 0 0 0 DONALD SHELDON DIRECTOR 0.50 0.00 X 0 0 0 MICHAEL SHERMAN DIRECTOR 0.50 0.00 X 0 0 0 MARK SKELLENGER DIRECTOR 0.50 0.00 X 0 0 0 BARRY SMITH DIRECTOR 0.50 0.00 X 0 0 0 THOMAS SMITH SECRETARY 0.50 0.00 X 0 0 0 NICOLE SPRENGER DIRECTOR 0.50 0.00 X 0 0 0 BRUCE STEVENS DIRECTOR 0.50 0.00 X 0 0 0 GAIL STUMPHAUZER DIRECTOR 0.50 0.00 X 0 0 0 FRANK SULEN DIRECTOR 0.50 0.00 X 0 0 0 ALBERT TEGEL DIRECTOR 0.50 0.00 X 0 0 0 GREGORY THAXTON TREASURER 0.50 0.00 X 0 0 0 THOMAS TYRRELL DIRECTOR 0.50 0.00 X 0 0 0 TED WALLINGFORD DIRECTOR 0.50 0.00 X 0 0 0 ADRIAN WILLIAMS DIRECTOR 0.50 0.00 X 0 0 0 DALE YOST DIRECTOR 0.50 0.00 X 0 0 0 LILY YUZON DIRECTOR 0.50 0.00 X 0 0 0 ALAN ZANG DIRECTOR 0.50 0.00 X 0 0 0 MARIA ZOLLI DIRECTOR 0.50 0.00 X 0 0 0 DR ROY CHURCH PRESIDENT AND CEO 0.50 0.00 X X 0 0 0 TRACY GREEN VICE PRESIDENT 0.50 0.00 X 0 0 0 GARIS DISTELHORST EXECUTIVE DIRECTOR 25.00 0.00 X 94506 0 17413 CHARLES WIERSMA DIRECTOR OF FINANCE AND OPERATIONS 40.00 0.00 X 77277 0 27486 171783 0 44899 0 0 0 0 0 301617 730000 3031356 625578 4062973 INNOVATION FUND REPLENISHMENT REV 900099 97000 97000 97000 1254568 1254568 5501407 5054194 447213 447213 447213 87961 301617 103424 -15463 -15463 5846291 97000 0 1686318 2234271 2234271 718701 718701 173960 81640 92320 249813 83556 166257 59099 22898 36201 45258 18759 26499 8996 3414 5582 38660 31538 7122 19582 19582 170000 170000 83338 83338 462642 407016 29005 26621 4560 3430 1130 34905 22676 8665 3564 39354 16725 560 22069 8675 2560 6115 114563 98709 14816 1038 17083 17083 STRATEGIC PARTNERSHIPS 70334 51115 19219 BUILDING OPERATIONS 55525 55525 PLANNED GIVING 49820 49820 ALUMNI RELATIONS 45862 44235 1627 116430 35622 7826 72982 4821431 3892123 404379 524929 1111572 625932 3664520 5027643 11180 93257 14974 8002 92213 69029 43031 23184 40468301 38349856 135071 177033 735149 735149 46183798 45040056 489083 554046 113845 0 520000 518322 1122928 1072368 X 105725 3002057 12519880 9720539 32435265 31245092 45060870 43967688 46183798 45040056 1024860 -2118042 0 X 0 1 X 1 0 X 1836617 1774848 2219987 10123517 4062973 20017942 1836617 1774848 2219987 10123517 4062973 20017942 7493175 12524767 737598 999532 922954 1238962 1254568 5153614 48480 30285 31387 41333 87961 239446 25411002 924083 0.49290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170000 170000 3722123 3892123 344606 86152 0 0 289398 297416 325545 344606 1256965 1885448 170000 170000 170000 170000 680000 72350 74354 81386 86152 314242 471363 34133956 608014 -419059 601688 614409 366615 32740199 26597410 8205492 502717 557307 342058 272298 34133956 23571106 419185 3831906 467648 484290 272849 26597410 21725424 455999 2617918 485758 484540 257937 23571106 22479230 678818 -99936 480281 586599 265808 21725424 0.00000 0.95280 0.04720 0 0 92213 69029 23184 23184 FUNDS HELD AS FISCAL AGENT 518322 518322 X 3853997 -2118042 209086 -1908956 5762953 83338 83338 5846291 4947179 209086 209086 4738093 83338 83338 4821431 PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS - THE FOUNDATION'S ENDOWMENT INCLUDES 160 SCHOLARSHIP FUNDS AND 15 PROGRAM FUNDS. THE FOUNDATION'S OBJECTIVE FOR ITS ENDOWMENT IS TO PRESERVE THE FAIR VALUE OF THE ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. ALL WITHDRAWALS OR TRANSFERS TO OTHER FUNDS ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) AS A NON-GOVERNMENTAL, NON-PROFIT ENTITY UNDER PROVISIONS OF THE INTERNAL REVENUE CODE. THE FOUNDATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170 OF THE INTERNAL REVENUE CODE. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2016, THE FOUNDATION'S INCOME TAX YEARS FROM 2012 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. GOLF EVENT 326473 278893 47580 19002 3078 30283 13590 LADIES LUNCH 31950 7143 24807 91 15457 5270 3 31155 15581 15574 300 10492 1596 4265 389578 301617 87961 19002 3469 56232 1596 23125 103424 -15463 1 LORAIN COUNTY COMMUNITY COLLEGE 1005 N ABBE ROAD ELYRIA OH 44035 340930187 115 666671 SEE PART IV 02REGENTECH LLC 411 WOLF LEDGES PARKWAY SUITE 100 AKRON OH 44311 464848577 20000 SEE PART IV ABEMIS LLC 2683 HAMPSHIRE ROAD CLEVELAND OH 44106 474362447 13800 SEE PART IV APOLLO MEDICAL DEVICES LLC 2549 KENILWORTH ROAD 5 CLEVELAND OH 44106 471970909 105000 SEE PART IV APPACORD LLC DBA REVENUE CONDUIT 4806 WILSHIRE DRIVE COPLEY OH 44321 462896076 50000 SEE PART IV BEEGIT LLC 21762 PARKDALE AVENUE FAIRVIEW PARK OH 44126 464794324 48000 SEE PART IV BIOMENDICS LLC 3250 WEST MARKET STREET FAIRLAWN OH 44333 472566104 5000 SEE PART IV BODIES DONE RIGHT 700 BETA DRIVE SUITE 500 MAYFIELD VILLAGE OH 44143 204479623 20000 SEE PART IV BUBBLECLEAR INC 13400 GLENNSIDE ROAD CLEVELAND OH 44110 475359925 25000 SEE PART IV CENTERLINE BIOMEDICAL INC 10000 CEDAR AVENUE CLEVELAND OH 44106 472238759 100000 SEE PART IV CLEAN WATER NET LTD 24700 CHAGRIN BLVD SUITE 165 BEACHWOOD OH 44122 454862629 75000 SEE PART IV CORMETRICS LLC 16500 PARKLAND DRIVE SHAKER HEIGHTS OH 44120 474538920 40000 SEE PART IV CUE SOCIAL LLC DBA SELLHACK 1449 COHASSET AVENUE LAKEWOOD OH 44107 455296011 13300 SEE PART IV BRYAH HR SOLUTIONS LLC DBA DRIVE MY WAY 100 NORTH MAIN STREET SUITE 407 CHARGRIN FALLS OH 44022 464604152 65000 SEE PART IV ENDURONUTRITION LLC 96 EAST WASHINGTON STREET CHARGRIN FALLS OH 44022 473913327 20000 SEE PART IV ENTO BIO LLC 4230 LANDER ROAD CHARGRIN FALLS OH 44022 463474419 25000 SEE PART IV ENYX STUDIOS LLC 241 WEST FEDERAL STREET YOUNGSTOWN OH 44503 811803157 20000 SEE PART IV EVERYKEY LLC 11471 EUCLID AVENUE APT 305 CLEVELAND OH 44106 463121812 65000 SEE PART IV FLEXIBLE ITO SOLUTIONS 11668 BYERS AVENUE NE HARTVILLE OH 44632 464945959 10000 SEE PART IV FULL CIRCLE TECHNOLOGIES LLC 33199 FAIRMOUNT BLVD PEPPER PIKE OH 44124 471539423 20000 SEE PART IV GROUPMATICS LLC 26202 DETROIT ROAD SUITE 300 WESTLAKE OH 44145 464903351 85000 SEE PART IV HOT END WORKS INC 151 INNOVATION DRIVE SUITE 320 ELYRIA OH 44035 452381100 15000 SEE PART IV INFOGPSNETWORKS INC 5990 LAUBY ROAD SUITE 10 NORTH CANTON OH 44720 464681073 100000 SEE PART IV JUGGERBOT 3D LLC 241 WEST FEDERAL STREET YOUNGSTOWN OH 44503 471505953 25000 SEE PART IV KNOWELDGE POST 2188 WEST 6TH STREET CLEVELAND OH 44113 462819673 25000 SEE PART IV LARAD INC 132 EAST LIBERTY STREET WOOSTER OH 44691 462311684 70000 SEE PART IV LENDULINK LLC 5053 BRISTOL CT LYNDHURST OH 44124 465483037 5000 SEE PART IV LYGENT LLC 2154 MURRAY HILL ROAD CLEVELAND OH 44106 474212409 20000 SEE PART IV MIACH MEDICAL INNOVATIONS INC 2956 WEST PARK BOULEVARD SHAKER HEIGHTS OH 44120 453630141 5000 SEE PART IV MICROFANTASY LLC 8429 BRECKSVILLE ROAD BRECKSVILLE OH 44141 475018406 25000 SEE PART IV NEOEX SYSTEMS INC 667 CHERRY VALLEY DRIVE AMHERST OH 44001 475341042 10000 SEE PART IV NUE VUE SOLUTIONS INC 4209 RT 44 D-134 ROOTSTOWN OH 44272 471793711 15000 SEE PART IV OCUFREEZE LLC 10025 BELLHAVEN AVENUE NW UNIONTOWN OH 44685 471915650 11000 SEE PART IV PARAGON ROBOTICS LLC 27331 TUNGSTEN ROAD EUCLID OH 44132 260439762 50000 SEE PART IV PLEXAR IMAGINGTIP IMAGING 3120 BELVOIR BLVD SHAKER HTS OH 44122 275562705 21000 SEE PART IV RABBLESTER INC 3240 WEST 98TH STREET SUITE 8 CLEVELAND OH 44102 320437571 25000 SEE PART IV RED5 PHARMACEUTICALS LLC 10000 CEDAR AVENUE CLEVELAND OH 44106 464611297 12500 SEE PART IV RENEWABLE CARBON & ELECTRIC LTD 46 CHAGRIN PLAZA 161 CHAGRIN FALLS OH 44022 475386563 25000 SEE PART IV SKYSUN LLC 24126 BRUCE ROAD BAY VILLAGE OH 44140 461780244 5000 SEE PART IV CYTOBYTE INC DBA SPIROSANDO 17450 ALDERSYDE DRIVE SHAKER HEIGHTS OH 44120 465571131 100000 SEE PART IV THE URETERAL STENT CO LTD 18 WALDEN TRAIL MORELAND HILLS OH 44022 474812699 55000 SEE PART IV VIRTEOM LLC 36711 AMERICAN WAY SUITE D AVON OH 44011 462896763 25000 SEE PART IV YOUREFOLIO INC 5005 ROCKSIDE ROAD SUITE 915 INDEPENDENCE OH 44131 472858610 98000 SEE PART IV 1 42 SCHOLARSHIPS 747 690201 FACULTY AWARDS 9 8500 SEE PART IV 1 20000 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE FOUNDATION ENSURES THAT ITS FUNDS ARE USED FOR THE INTENDED PURPOSES BY REQUIRING APPLICANTS TO SUBMIT AN APPLICATION WHICH FULLY DESCRIBES THE PROJECT THAT WILL BE FUNDED. THE FOUNDATION PERIODICALLY CHECKS WITH THE RECIPIENTS TO ASSESS THEIR PROGRESS TO OBTAIN ASSURANCES THAT THE FUNDS HAVE BEEN USED IN THE MANNERS DESCRIBED IN THE APPLICATIONS. PART II, LINE 1, COL. H AND PART III, COL. A, LINE 3: THE PURPOSE OF THE GRANT PROVIDED TO LORAIN COUNTY COMMUNITY COLLEGE IS TO PROVIDE STUDENT SCHOLARSHIPS, FACULTY INCENTIVES, BUSINESS AND ECONOMIC INITIATIVES, CULTURAL PROGRAMMING, AND COMMUNITY OUTREACH EFFORTS. FOR ALL OTHER RECIPIENTS LISTED IN PART II AND ON LINE 3 OF PART III, THE PURPOSE OF EACH GRANT IS TO NURTURE A TECHNOLOGY-BASED ENTREPRENEURIAL ENVIRONMENT FOR WEALTH CREATION AND JOB GROWTH IN NORTHEAST OHIO. THE FACULTY AWARDS WERE PROVIDED TO FACULTY AT LORAIN COUNTY COMMUNITY COLLEGE AS INCENTIVE-BASED COMPENSATION. X 3 55322 FMV X 1 570256 CONTRACT VALUE 0 1 1 PART I, LINE 32B: USE OF THIRD PARTIES - THE FOUNDATION UTILIZES THE SERVICES OF A SECURITIES BROKER TO SELL DONATED SECURITIES AND A REAL ESTATE BROKER TO SELL DONATED REAL ESTATE. THE FEES CHARGED BY THE BROKERS ARE AT OR BELOW FAIR MARKET VALUE. FORM 990, PART III, LINE 2 DURING FISCAL YEAR 2016, THE FOUNDATION CREATED THE ROY AND BOBBI CHURCH VISIONARY LEADERSHIP INSTITUTE. THE INSTITUTE WAS CREATED TO ENSURE DR. ROY A. CHURCH'S UNIQUE CULTURE OF INNOVATION AND COLLABORATION WILL CONTINUE TO INFLUENCE FUTURE GENERATIONS OF LEADERS. TEH PROGRAM IS DESIGNED TO ATTRACT RENOWNED VISIONARY LEADERS TO CAMPUS FOR KEYNOTES AT CONFERENCES, EVENTS, AND PROFESSIONAL DEVELOPMENT ACTIVITIES. THE INSTITUTE WILL ENABLE DR. CHURCH'S INNOVATION SPIRIT TO CONTINUE ITS POSITIVE IMPACT AT LORAIN COUNTY COMMUNITY COLLEGE AND THE LOCAL COMMUNITY, SPARK NEW IDEAS, AND ADDRESS WORK ISSUES AFFECTING THE REGION. FORM 990, PART VI, SECTION A, LINE 2 REPORTABLE RELATIONSHIPS - TOM TYRELL AND DON KNECHTGES HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW - FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS WITH THE ASSISTANCE OF THE OUTSIDE PUBLIC ACCOUNTING FIRM BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 PROVIDED TO GOVERNING BODY - BECAUSE OF THE CONFIDENTIAL NATURE OF DONOR INFORMATION, THE FOUNDATION HAS CHOSEN NOT TO SHARE THE NAMES AND ADDRESSES OF DONORS LISTED ON SCHEDULE B WITH THE BOARD OF DIRECTORS. THE FOUNDATION THEREFORE PROVIDED A COPY OF FORM 990 TO THE BOARD BUT REDACTED THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A OF PART VI EVEN THOUGH THE BOARD WAS GIVEN FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - ANNUALLY, THE BOARD OF DIRECTORS IS REQUIRED TO REVIEW AND SIGN THE OATH OF OFFICE CONTRACT THAT ADDRESSES THE CONFLICT OF INTEREST POLICY. WHEN A CONFLICT ARISES, THE PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE PROPOSED TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - COMPENSATION FOR ALL POSITIONS WITHIN THE FOUNDATION ARE DETERMINED BASED ON THE PAY SCALES THAT ARE ESTABLISHED BY THE LORAIN COUNTY COMMUNITY COLLEGE. ALL EMPLOYEES HAVE AND MAINTAIN A WRITTEN CONTRACT, AND COMPENSATION INCREASES ARE BASED ON APPROVAL BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT POLICY AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. LORAIN COUNTY COMMUNITY COLLEGE INNOVATION FOUNDATION 1005 NABBE RD ELYRIA OH 44035 320419899 GRANT-MAKING OH 501(C)(3) LINE 11A, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0