2013-09-20T15:29:55-05:00 2012-12-31 910605875 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2012-01-01 911182444 LAKE WASHINGTON COLLEGE FOUNDATION C/O LAKE WA INSTITUTE OF TECHNOLOGY LAKE 4257398100 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 DICK HAELSIG 4257398100 2013-09-05 1 MATTHEW R MATSON P00775671 2063827777 2013-09-05 2012 2016-02-24 21:20:13Z BETTY SPIETH CROLL 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 742221 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. 7 7 0 0 0 0 264075 475355 61931 13875 24357 22008 1731 -490 352094 510748 154139 215457 0 0 0 0 0 0 10481 101211 52683 255350 268140 96744 242608 1360334 1674004 0 0 1360334 1674004 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 1596 14775 THE FOUNDATION PAID THE COLLEGE FOR THE COSTS OF OPERATING A SPACE FOR AN EXPRESSO CART AND RECEIVED REVENUE FROM THE EXPRESS STAND AND ART RENTAL. 134869 129939 THE FOUNDATION RECEIVES PROGRAM 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 2012, WE SPENT ABOUT $27,000 PURCHASING GAS CARDS, LUNCHES, AND CLASS SUPPORT FOR ACADEMY STUDENTS AND $80,000 TO REMODEL AND AREA FOR ACADEMY STUDENTS. THE FOUNDATION SPENT $21,000 TO SUPPORT LWIT STUDENT INTER-COLLEGE COMPETITIONS AND CONFERENCES, AND $2,000 FOR FACULTY PROGRAM CONFERENCES. 85390 85518 THE FOUNDATION RECEIVES VARIOUS SCHOLARSHIP CONTRIBUTIONS FROM DONORS AND AWARDS THE DONATIONS TO STUDENTS. IN 2012, $80,500 WAS AWARDED TO STUDENTS. OUR MATCHING STATE ENDOWMENTS EARNINGS WERE USED TO DISTRIBUTE ABOUT $5,000 IN FACULTY AWARDS. 221855 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 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DEBBIE DEBEAUCHAMP 4257398100 11605 132ND AVE NE KIRKLAND WA 98034 X BETTY SPIETH-CROLL 2.00 X X 0 0 0 JOHN HOTTA 2.00 X X 0 0 0 RICHARD HAELSIG 2.00 X X 0 0 0 HANK KERNS 2.00 X 0 0 0 ELLEN MILLER WOLFE 2.00 X 0 0 0 DAVE FERGUSON 2.00 X 0 0 0 LAURA WILDFONG 2.00 X 0 0 0 VICKI COOLEY 2.00 X 0 0 0 LAURIE SIMON 2.00 X 0 0 0 ANNE HAMILTON 2.00 X 0 0 0 LESLIE SMITH 2.00 X 0 0 0 SCOTT ECKMAN 2.00 X 0 0 0 SCOTT ROBERTS 2.00 X 0 0 0 DR WOODALL 2.00 X 0 0 0 LAURIE AUSTIN 2.00 X 0 0 0 DENIS LONG 2.00 X 0 0 0 TERRY BYINGTON 2.00 X 0 0 0 SHARON MCGAVICK 2.00 X 0 0 0 DARRELL S MITSUNAGA 2.00 X X 0 0 0 KSENIA KARPISHEVA 2.00 X 0 0 0 WILLIAM THOMAS 2.00 X 0 0 0 0 0 0 0 0 0 0 0 32660 442695 475355 RENTAL INCOME 531190 13875 13875 13875 18673 18673 232107 228772 3335 3335 3335 1640 32660 2701 -1061 -1061 ARTWORK RENTAL INCOME 532000 900 900 REVENUE TRANSFER 900099 -329 -329 571 510748 14775 0 20618 127730 127730 87727 87727 5695 5695 7616 7616 5464 578 4886 10195 6700 3495 6584 1711 4778 95 1400 1400 3023 2601 422 PLANT PURCHASES 12505 5707 6798 MISCELLANEOUS 201 108 93 268140 221855 35804 10481 224358 254937 2174 1133802 1419067 1360334 1674004 0 0 X 42146 86609 551814 817546 766374 769849 1360334 1674004 1360334 1674004 242608 71062 0 X X 0 1 X 0 0 X 481727 226564 217693 264075 475354 1665413 481727 226564 217693 264075 475354 1665413 510034 1155379 41696 21746 17843 24357 22008 127650 21250 1200 571 23021 1816084 181808 0.63620 0.71410 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RENTAL INCOME MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 818301 50108 1876 3076 863457 824687 10000 -2925 10570 2891 818301 796317 650 36203 8483 824687 771261 29266 4210 796317 0.89000 0.11000 0 0 0 584511 71062 2701 73763 510748 0 510748 270841 2701 2701 268140 0 268140 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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 2,701. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 2,701. BENEFIT BREAKFAST 34300 32660 1640 2311 390 34300 32660 1640 2311 390 2701 -1061 1 LAKE WASHINGTON INSTITUTE OF TECHNOLOGY 11605 132ND AVE NE KIRKLAND WA 98034 911182444 127730 PROVIDE ASSISTANCE TO STUDENTS FOR CONFERENCES AND COMPETITIONS. ALSO PROVIDES BUS PASSES, GAS, AND LUNCHES TO STUDENTS. 1 DIRECT FINANCIAL AID TO STUDENTS 42 13135 FINANCIAL AID THROUGH THE COLLEGE FOR STUDENTS 129 67465 ASSISTANCE FOR FACULTY CONFERENCE 2209 GRANTS UNDER 5K 4918 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 QUARTERLY 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. FORM 990, PART VI, SECTION B, LINE 11 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 IN YEARLY QUESTIONNAIRE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE ON THE COLLEGE'S WEBSITE. FORM 990, PART IX, LINE 1 THE FOUNDATIN'S POLICY IS TO PREPARE ITS FINANCIAL STATEMENTS ON THE CASH RECEIPTS AND DISBURSEMENT 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.