2012-11-09T19:21:13-06:00 2011-12-31 910605875 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2011-01-01 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 2012-11-07 1 MATTHEW R MATSON P00775671 2063827777 2012-11-07 2011 2016-02-24 21:20:13Z ANNE HAMILTON 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 750018 0 X WWW.LWTECH.EDU/FOUNDATION X 1949 WA PROVIDE LAKE WASHINGTON TECHNICAL COLLEGE 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. 8 8 0 0 0 0 217693 264075 126052 61931 17843 24357 -1193 1731 360395 352094 112609 154139 0 0 0 0 0 0 11242 144984 101211 257593 255350 102802 96744 1298841 1360334 0 0 1298841 1360334 PROVIDE LAKE WASHINGTON TECHNICAL COLLEGE 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 41101 57131 THE FOUNDATION PAYS RENT FOR PROPERTY COMPRISING THE DUVALL CAMPUS. THE RENT IS REIMBURSED BY THE COLLEGE AND A SERVICE FEE IS CHARGED TO THE COLLEGE FOR HANDLING THESE TRANSACTIONS. THE FOUNDATION ALSO PAID THE COLLEGE FOR THE COSTS OF OPERATING A SPACE FOR AN EXPRESSO CART AND RECEIVED REVENUE FROM THE EXPRESSO STAND AND ART RENTAL. 72414 62411 6000 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 2011, WE SPENT ABOUT $48,000 PURCHASING GAS CARDS, BUS PASSES, LUNCHES, AND CLASS SUPPORT FOR ACADEMY STUDENTS. THE FOUNDATION SPENT $12,000 TO SUPPORT LWIT STUDENT INTER-COLLEGE COMPETITIONS AND CONFERENCES IN CANSAT, FITNESS AND CULINARY AND $2,000 FOR FACULTY PROGRAM CONFERENCES. 91892 91728 THE FOUNDATION RECEIVES VARIOUS SCHOLARSHIP CONTRIBUTIONS FROM DONORS AND AWARDS THE DONATIONS TO STUDENTS. IN 2011, $82,000 WAS AWARDED TO STUDENTS. OUR MATCHING STATE ENDOWMENTS EARNINGS WERE USED TO DISTRIBUTE ABOUT $11,000 IN FACULTY AWARDS. 205407 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 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 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 1 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 WA X DEBBIE DEBEAUCHAMP 4257398100 11605 132ND AVE NE KIRKLAND WA 98034 X ANNE HAMILTON 2.00 X X 0 0 0 BETTY SPIETH-CROLL 2.00 X X 0 0 0 RICHARD HAELSIG 2.00 X X 0 0 0 JOHN HOTTA 2.00 X X 0 0 0 LESLIE SMITH 2.00 X 0 0 0 SHARON AUGENSTEIN 2.00 X 0 0 0 LYNNE LANGSETH 2.00 X 0 0 0 BERT MILLS 2.00 X 0 0 0 DR WOODALL 2.00 X 0 0 0 LAURIE AUSTIN 2.00 X 0 0 0 SHIRLEY METCALF 2.00 X 0 0 0 DARRELL S MITSUNAGA 2.00 X X 0 0 0 DMITRIY SANDLER 2.00 X 0 0 0 BILL THOMAS 2.00 X 0 0 0 0 0 0 0 0 0 0 0 33390 230685 24000 264075 RENTAL INCOME 531190 55931 55931 STUDENT FEES 900099 6000 6000 61931 21329 21329 397483 394455 3028 3028 3028 4000 33390 3469 531 531 ARTWORK RENTAL INCOME 532000 1200 1200 1200 352094 63131 0 24888 60220 60220 93919 93919 2954 2954 5653 5653 22996 860 22136 2596 2596 1239 544 695 41101 41101 491 65 426 11188 5586 5427 175 PLANT PURCHASES 7872 7872 MISCELLANEOUS 3600 3112 208 280 CREDIT CARD FEES 1521 1202 319 255350 205407 38701 11242 145717 224358 2173 2174 1150951 1133802 1298841 1360334 0 0 X 86187 42146 452805 551814 759849 766374 1298841 1360334 1298841 1360334 X 96744 -35251 X X 0 0 0 X 419661 481727 226564 217693 264075 1609720 419661 481727 226564 217693 264075 1609720 345082 1264638 33025 41696 21746 17843 24357 138667 21250 1200 22450 1770837 167933 0.71410 0.76770 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RENTAL INCOME MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 824687 10000 -2925 10570 2891 818301 796317 650 36203 8483 824687 771261 29266 4210 796317 0.94000 0.06000 0 0 0 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. BENEFIT BREAKFAST 37390 33390 4000 3469 37390 33390 4000 3469 3469 531 1 LAKE WASHINGTON INSTITUTE OF TECHNOLOGY 11605 132ND AVE NE KIRKLAND WA 98034 911182444 60220 PROVIDE ASSISTANCE TO STUDENTS FOR CONFERENCES AND COMPETITIONS. ALSO PROVIDES BUS PASSES, GAS, AND LUNCHES TO STUDENTS. 1 DIRECT FINANCIAL AID TO STUDENTS 53 13855 FINANCIAL AID THROUGH THE COLLEGE FOR STUDENTS 86 67302 ASSISTANCE FOR FACULTY CONFERENCE 2191 GRANTS UNDER 5K 10570 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -35,251. 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.