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PART X, LINE 2: UNCERTAIN TAX PROVISIONS AS OF JUNE 30, 2014, MANAGEMENT BELIEVES THAT BASED ON EVALUATION OF THE FOUNDATION'S TAX POSITIONS THAT ANY LIABILITY AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD NOT BE MATERIAL. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS TO ASSIST IN EVALUATING THE FOUNDATION'S TAX POSITIONS. ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY, WOULD BE RECOGNIZED AS PART OF THE INCOME TAX PROVISION. INCOME TAX RETURNS ARE FILED IN THE U.S. FEDERAL JURISDICTION AND STATE JURISDICTIONS. U.S. FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO FISCAL YEAR 2010 ARE CLOSED. 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X 106538 130031 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS SENT TO THE FINANCE/INVESTMENT COMMITTEE CO-CHAIRS FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS REGULARLY DISTRIBUTED TO ALL DIRECTORS, OFFICERS AND EMPLOYEES. THE POLICY REQUIRES ALL MEMBERS TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS SOON AS THEY ARISE. ANY BOARD MEMBER WITH A STATED INTEREST MAY NOT PARTICIPATE IN VOTING IF THE TOPIC IS CONSIDERED A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION DOES NOT DETERMINE THE COMPENSATION OF ITS EXECUTIVE DIRECTOR. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY BERGEN COMMUNITY COLLEGE BASED ON INDUSTRY STANDARDS. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE KEPT AT THE ORGANIZATION'S LOCATION AND CAN BE VIEWED BY ANY INQUIRING PARTY DURING NORMAL OFFICE HOURS. 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