2011-11-15T10:54:31-06:00 2010-12-31 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2010-01-01 911182444 LAKE WASHINGTON COLLEGE FOUNDATION C/O LAKE WASHINGTON TECHNICAL COLLEGE LAKE 4257398100 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 DICK HAELSIG 4257398100 2011-11-14 1 MATTHEW R MATSON 2063827777 2011-11-14 2010 2016-03-07 17:11:31Z ANNE HAMILTON 11605 132ND AVENUE NE NO W205C KIRKLAND WA 98034 366788 0 X WWW.LWTC.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. 9 9 0 0 0 0 226564 217693 14450 126052 15585 17843 10719 -1193 267318 360395 131878 112609 0 0 9886 0 0 0 5520 102046 144984 243810 257593 23508 102802 1152793 1298841 0 0 1152793 1298841 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 102340 117052 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. 75845 57557 9000 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 2010, WE SPENT ABOUT $36,000 PURCHASING 1500 $15 GAS CARDS AND 934 BOOKS OF 20 BUS PASSES FOR STUDENTS. THE FOUNDATION ALSO PURCHASED $17,000 IN DENTAL EQUIPMENT AND AWARDED $5,000 TO HORTICULTURE, KOPO, AND MMDP STUDENTS. 54032 55052 THE FOUNDATION RECEIVES VARIOUS SCHOLARSHIP CONTRIBUTIONS FROM DONORS AND AWARDS THE DONATIONS TO STUDENTS. IN 2010, $48,000 WAS AWARDED TO STUDENTS. OUR MATCHING STATE ENDOWMENTS EARNINGS WERE USED TO DISTRIBUTE ABOUT $6,000 IN FACULTY AWARDS. 232217 1 1 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 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 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 AVENUE NE NO W205C KIRKLAND WA 98034 X ANNE HAMILTON 2.00 X X 0 0 0 BETTY SPIETH-CROLL 2.00 X X 0 0 0 BOBBY FRANK 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 LES SNAVELY 2.00 X 0 0 0 JEAN-ANN BATCHELDER 2.00 X 0 0 0 PHIL LANE 2.00 X 0 0 0 LYNNE LANGSETH 2.00 X 0 0 0 BERT MILLS 2.00 X 0 0 0 LESLIE SMITH 2.00 X 0 0 0 SHARON AUGENSTEIN 2.00 X 0 0 0 ROBERT ZORICH 2.00 X 0 0 0 PHYLLIS HUSTER 2.00 X 0 0 0 JOHN ERDMAN 2.00 X 0 0 0 BEN LINDEKUGEL 2.00 X 0 0 0 HEATHER SCHIDLER 2.00 X 0 0 0 SHELLEY GLENNDENNING 2.00 X 0 0 0 SHARON MCGAVICK 2.00 X 0 0 0 SHIRLEY METCALF 2.00 X 0 0 0 BRUCE REID 2.00 X X 0 0 0 ARTHI SAIRAMAN 2.00 X 0 0 0 BILL THOMAS 2.00 X 0 0 0 0 0 0 0 0 0 0 0 67152 150541 217693 RENTAL INCOME 531190 117052 117052 STUDENT FEES 900099 9000 9000 126052 17843 17843 4000 67152 6393 -2393 -2393 ARTWORK RENTAL INCOME 532000 1200 1200 1200 360395 127252 0 15450 57557 57557 55052 55052 4734 114 4620 3223 3223 1800 1800 1637 605 271 761 655 534 121 102226 102226 5714 4969 745 10938 2746 7190 1002 1949 1949 MISCELLANEOUS 10808 6614 1481 2713 CREDIT CARD FEES 1300 1001 299 257593 232217 19856 5520 102268 145717 2172 2173 1048353 1150951 1152793 1298841 0 0 X -43021 86187 436365 452805 759449 759849 1152793 1298841 1152793 1298841 X 102802 43246 X X 0 1 0 X 0 X 391576 419661 481727 226564 217693 1737221 391576 419661 481727 226564 217693 1737221 282222 1454999 22589 33025 41696 21746 17843 136899 21250 21250 1895370 106002 0.76770 0.80440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RENTAL INCOME MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 796317 650 36203 8483 824687 771261 29266 4210 796317 0.92000 0.08000 0 0 0 360395 257593 102802 43298 -52 43246 146048 410086 43298 6393 49691 360395 0 360395 263986 6393 6393 257593 0 257593 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 8 - OTHER ADJUSTMENTS: CHANGE TO BEGINNING NET ASSETS -52. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 6,393. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 6,393. BENEFIT BREAKFAST 71152 67152 4000 160 2304 12 1845 2071 71152 67152 4000 160 2304 12 1845 2071 6392 -2392 1 DENTAL PROGRAM 11605 132ND AVE NE KIRKLAND WA 98034 911182444 15313 PROVIDE THE DENTAL PROGRAM WITH EQUIPMENT TO ASSIST IN ITS PROGRAM. HS ACADEMY 11605 132ND AVE NE KIRKLAND WA 98034 911182444 38264 PROVIDE BUS PASSES, GAS, AND LUNCHES TO STUDENTS GRANTS UNDER 5K 3980 PROVIDE ASSISTANCE TO STUDENTS 1 1 DIRECT FINANCIAL AID TO STUDENTS 60 16152 FINANCIAL AID THROUGH THE COLLEGE FOR STUDENTS 55 37170 GRANTS UNDER 5K 1730 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 RECIVES 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 PETERSON SULLIVAN 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 GAINS ON INVESTMENTS: 43,298. CHANGE TO BEGINNING NET ASSETS -52. TOTAL TO FORM 990, PART XI, LINE 5: 43,246. 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.