2024-12-11T05:09:43-06:00 2024-06-30 381910111 UHY ADVISORS GREAT LAKES INC 1979 HOLLAND AVE SUITE A PORT HURON MI 48060 990 2023-07-01 386083677 SC4 FOUNDATION SC4F 8109895545 500 WATER PORT HURON MI 48060 WILL OLDFORD PRESIDENT 8109895545 2024-12-05 1 1 JESSICA WALZ P01227819 8109843829 2024-12-05 2023 2024-10-15 13:58:12Z WILL OLDFORD 500 WATER STREET PORT HURON MI 48060 23310 0 X WWW.SC4.EDU X 1963 MI THE FOUNDATION SUPPORTS SCHOLARSHIPS, AND CAPITAL AND SPECIAL PROJECTS FOR ST. CLAIR COUNTY COMMUNITY COLLEGE. 17 17 0 24 0 0 11171 23310 0 0 0 0 0 0 11171 23310 362347 361918 0 0 0 0 0 0 5947 87629 93761 449976 455679 -438805 -432369 7465111 7966655 256058 247174 7209053 7719481 THE FOUNDATION SUPPORTS SCHOLARSHIPS, AND CAPITAL AND SPECIAL PROJECTS FOR ST. CLAIR COUNTY COMMUNITY COLLEGE. 0 0 378605 317968 SCHOLARSHIPS AWARDED TO STUDENTS ATTENDING ST. CLAIR COUNTY COMMUNITY COLLEGE. 43950 43950 GRANT AWARDED TO ST. CLAIR COUNTY COMMUNITY COLLEGE FOR CAPITAL AND SPECIAL PROJECTS. 422555 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 MI X COMMUNITY FOUNDATION OF SCC 8109844761 500 WATER STREET PORT HURON MI 48060 X TIMOTHY M WARD TRUSTEE 0.25 X 0 0 0 JEFFREY WINE TRUSTEE 0.25 X 0 0 0 JANAL MOSSETT TRUSTEE 0.25 X 0 0 0 KAREN DESCHAINE TRUSTEE 0.25 X 0 0 0 HONORABLE DANIEL KELLY TRUSTEE 0.25 X 0 0 0 ROBERT MOAK TRUSTEE 0.25 X 0 0 0 CHRISTINE NEWBERRY TRUSTEE 0.25 X 0 0 0 DUNCAN SMITH TRUSTEE 0.25 X 0 0 0 RANDALL FERNANDEZ TRUSTEE 0.25 X 0 0 0 BRYAN NEIMAN TRUSTEE 0.25 X 0 0 0 JASMINE WILLIAMS TRUSTEE 0.25 X 0 0 0 KATHLEEN MCKENNA TRUSTEE 0.25 X 0 0 0 KATHERINE COX TRUSTEE 0.25 X 0 0 0 KATHLEEN M SMITH SECRETARY 0.50 X 0 0 0 WILL OLDFORD PRESIDENT 0.50 X 0 0 0 MARY K WHALING VICE PRESIDENT 0.50 X 0 0 0 STEVE SCHWEIHOFER TREASURER 0.50 X 0 0 0 0 0 0 0 0 0 0 0 23310 23310 23310 0 0 0 43950 43950 317968 317968 75593 58979 10760 5854 14562 14562 1658 1658 1836 1836 FUNDRAISING 93 93 PERMITS & FEES 19 19 455679 422555 27177 5947 23354 19459 1278 1284 7440479 7945912 7465111 7966655 256058 247174 256058 247174 X 303415 298500 6905638 7420981 7209053 7719481 7465111 7966655 X -432369 942797 0 X 0 1 X 1 0 X 14526 3092 559715 11171 23310 611814 3595 7265 7555 8095 26510 14526 6687 566980 18726 31405 638324 638324 638324 1.00000 0.96440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7015592 2060 921112 395793 7542971 6576324 2255 851773 414760 7015592 7356351 523003 -1045006 258024 6576324 5933888 1917 1686308 265762 7356351 6193956 12147 80772 352987 5933888 0.01617 0.45571 0.52812 0 0 0 BENEFICIAL INTEREST IN ASSETS HELD BY THE COMMUNITY FOUNDATION 7945912 7945912 974202 942797 8095 950892 23310 0 23310 463774 8095 8095 455679 0 455679 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE ESTABLISHED FOR A VARIETY OF PURPOSES BASED ON DONOR-IMPOSED PERPETUAL CARE OR SPENDING USE RESTRICTIONS. MOST ENDOWMENT FUNDS ARE ESTABLISHED AS SCHOLARSHIP FUNDS FOR STUDENTS AT ST. CLAIR COUNTY COMMUNITY COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: LIKE-KIND DONATION FOR SERVICES FROM A GOVERNMENTAL AGENCY 8,095. PART XII, LINE 2D - OTHER ADJUSTMENTS: LIKE-KIND DONATION FOR SERVICES FROM A GOVERNMENTAL AGENCY 8,095. 1 ST CLAIR COUNTY COMMUNITY COLLEGE 323 ERIE ST PORT HURON MI 48060 381857017 GOV 43950 0 OPERATIONS/FACILITY SCHOLARSHIPS 143 317968 PART I, LINE 2: FROM TIME-TO-TIME THE SC4 FOUNDATION MAY MAKE GRANTS AND AWARDS THROUGH A DECENTRALIZED SYSTEM OF COMMITTEES. AS SUCH, THE BOARD MUST ANNUALLY DELEGATE GRANTMAKING AUTHORITY TO EACH OF THESE GROUPS. THE BOARD'S DELEGATION OF GRANTMAKING AUTHORITY FOR 2024 IS AS FOLLOWS: 1. SCHOLARSHIP COMMITTEE A. MAY APPROVE ALL AWARDS PROVIDING THAT FOUNDATION STAFF HAS SIGNED OFF AND APPROVED THEM AS WELL. B. GAP FUND: AWARDS MAY BE APPROVED BY THE SC4 DIRECTOR OF FINANCIAL SERVICES. C. ALL SUCH AWARDS WITHIN THIS CATEGORY MUST BE REPORTED TO THE FULL BOARD, IN WRITING, AT THE NEXT APPROPRIATE BOARD MEETING. 2. DONOR DIRECTED, DONOR ADVISED, OR PASS-THRU GRANTS (NONE PROJECTED FOR 2024) A. MAY BE APPROVED BY THE PRESIDENT OF THE SC4 FOUNDATION BOARD. B. ALL SUCH AWARDS MADE IN THIS CATEGORY WILL BE REPORTED TO THE FULL BOARD, IN WRITING, AT THE NEXT APPROPRIATE BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 2 IN LIGHT OF ADDITIONAL ORGANIZATIONAL SERVICES BEING PERFORMED FOR THE SC4 FOUNDATION BY THE COMMUNITY FOUNDATION UNDER THE MEMORANDUM OF UNDERSTANDING, IT SHOULD BE NOTED THAT THESE TWO ORGANIZATIONS SHARE FOUR BOARD MEMBERS IN COMMON. HOWEVER, GIVEN GOVERNANCE STRUCTURES, POLICIES AND BOARD SIZES SIZE OF THE TWO ORGANIZATIONS, NO SINGLE OR HANDFUL OF TRUSTEES TOGETHER COULD CONTROL NOR PLACE UNDUE INFLUENCE ON ANY BUSINESS OR ACTIVITIES CONDUCTED BY EITHER FOUNDATION'S BOARD, COMMITTEES OR STAFF. ALSO, THE FOUNDATION'S GOVERNANCE IS STRUCTURED TO ENGAGE KEY COMMUNITY LEADERS FROM ALL BUSINESS ASPECTS AND GEOGRAPHIC AREAS OF THE COUNTY, AND THUS, GIVEN THIS APPROACH AND THE BOARD SIZE (MINIMUM OF 9 AND NOT MORE THAN 17), THERE INEVITABLY WILL BE SOME SITUATIONS WHERE A BUSINESS RELATIONSHIP MAY ARISE BETWEEN TRUSTEES. IN ALL SUCH INSTANCES, SC4 FOUNDATION HAS HAD NO INVOLVEMENT OTHERWISE WITH THE RESPECTIVE BUSINESSES TO WHICH THE TRUSTEES MAY HAVE RELATIONSHIPS. FURTHERMORE, THE COMMUNITY FOUNDATION AS SERVICER FOR SC4 FOUNDATION, TAKES MEASURES TO MAINTAIN TRANSPARENCY, KEEP ANY TRANSACTION AT ARM'S-LENGTH, AND IDENTIFY AND ENFORCE ITS CONFLICT-OF-INTEREST POLICY AND PROCEDURES. FOR TRANSPARENCY, WE BELIEVE ADDITIONAL DISCLOSURE IS WARRANTED TO ADDRESS RELATIONSHIPS BETWEEN ONE OR MORE SC4 FOUNDATION'S BOARD MEMBERS AND INDIRECT FINANCIAL RELATIONSHIPS INVOLVING ASSETS HELD BY THE COMMUNITY FOUNDATION. THOSE RELATIONSHIPS ARE AS FOLLOWS: 1) FOUR SC4 FOUNDATION TRUSTEES HAVE BUSINESS RELATIONSHIPS WITH ONE ANOTHER AT EASTERN MICHIGAN BANK. THOSE ARE TRUSTEES WILL OLDFORD, JASMINE WILLIAMS, STEVE SCHWEIHOFER AND TIM WARD, WITH THE FIRST TWO BEING CURRENTLY EMPLOYED BY EASTERN MICHIGAN BANK AND THE LAST TWO SERVING ON ITS BOARD. WILL OLDFORD, IS ITS PRESIDENT, AND JASMINE WILLIAMS IS A COMMERCIAL LOAN OFFICER. ALTHOUGH THE COMMUNITY FOUNDATION MAINTAINS A DEPOSIT ACCOUNT WITH EASTERN MICHIGAN BANK AND AT TIMES, SC4 FOUDATION MAY HAVE SHARED UNIT OWNERSHIP IN POOLED INVESTMENTS INCLUDING FUNDS HELD IN THAT BANK ACCOUNT, THOSE INVESTMENT DECISIONS ARE OVERSEEN BY THE COMMUNITY FOUNDATION'S SEPARATE FINANCE & INVESTMENT COMMITTEE (WITH 13 MEMBERS) AS ADVISED BY ITS INDEPENDENT INVESTMENT ADVISOR. FURTHERMORE, THESE BANK ACCOUNTS MEET THE SAME REQUIREMENTS/ CRITERIA OF ACCOUNTS OFFERED TO NON-PROFIT ORGANIZATIONS AND THE GENERAL PUBLIC. TRUSTEE WILL OLDFORD CURRENTLY SERVES IN A VOLUNTEER CAPACITY AS THE COMMUNITY FOUNDATION'S BOARD TREASURER. AS TREASURER, HAS SIGNING AUTHORITY, HOWEVER BOARD OFFICERS PRIMARILY ACT AS SECONDARY SIGNATORIES TO THE COMMUNITY FOUNDATION'S EMPLOYED PRESIDENT/VICE PRESIDENT FOR TRANSACTIONS OVER $5,000, AND IT'S THE COMMUNITY FOUNDATION'S PRACTICE TO HAVE ITS BOARD CHAIR ACT AS SECOND SIGNER WHENVER ONE IS REQUIRED. FURTHERMORE, ALL COMMUNITY FOUNDATION CHECKS/PAYMENTS MUST BE INITIATED AND SYSTEM-PROCESSED BY MULTIPLE STAFF INDEPENDENT OF AUTHORIZED SIGNERS. RELATIVE TO SC4 FOUNDATION, GIVEN THE ENTITY'S PURPOSE AS A SUPPORTING ORGANIZATION TO SC4 (COLLEGE), MOST ISSUED CHECKS ARE PAID TO SC4, AND THERE ARE MINIMAL CHECKS ISSUED ANNUALLY. IN FYE 6/30/24, ONLY TEN CHECKS WERE ISSUED FROM THIS EASTERN MICHIGAN BANK ACCOUNT, THREE OF WHICH REQUIRED A SECOND SIGNER, AND NONE OF THE CHECKS WERE SIGNED BY TRUSTEE WILL OLDFORD. 2) SIMILARLY TO THE BANKING RELATIONSHIP NOTED ABOVE, CHRISTINE NEWBERRY IS VICE PRESIDENT AND TRUST OFFICER FOR HUNTINGTON NATIONAL BANK. IN THAT POSITION, SHE IS THE ASSIGNED RELATIONSHIP OFFICER FOR AN INVESTMENT ACCOUNT OWNED BY COMMUNITY FOUNDATION. THAT SAID, THE ASSETS HELD IN THAT RESPECTIVE INVESTMENT ACCOUNT REPRESENT A PORTION OF DESIGNATED ASSET CLASSES WITHIN THE COMMUNITY FOUNDATION'S POOLED INVESTMENTS. SC4 FOUNDATION HAS A SHARED UNIT OWNERSHIP IN THESE POOLED INVESTMENTS; HOWEVER, THE SPECIFIC INVESTMENTS HELD ARE AT THE INVESTMENT DIRECTION OF THE COMMUNITY FOUNDATION'S FINANCE & INVESTMENT COMMITTEE AS ADVISED BY ITS INDEPENDENT INVESTMENT ADVISOR. CONSEQUENTLY, MS. NEWBERRY HAS NO INFLUENCE ON THE DECISIONS OR CAN OTHERWISE CONTROL THE ASSETS. 3) TWO OTHER SC4 FOUNDATION TRUSTEES HAVE BUSINESS RELATIONSHIPS DIRECTLY WITH THE COLLEGE (SC4) THAT ARE TYPICAL TO SIMILAR INTERACTIONS WITHIN THE COMMUNITY GIVEN THEIR POSITIONS AND THEIR BUSINESS OR ORGANIZATION. HOWEVER, ANY AND ALL SUCH BUSINESS ARRANGEMENTS WOULD BE NEGOTIATED BY COLLEGE STAFF AND ITS COLLEGE BOARD OF TRUSTEES, NONE OF WHICH SERVE ON THE SC4 FOUNDATION BOARD. THESE TWO TRUSTEES ARE: DUNCAN SMITH, PRESIDENT OF ALL STAR SERVICES, WHO PROVIDES VENDING SERVICES TO THE COLLEGE; AND RANDY FERNANDEZ, CITY MANAGER FOR MARYSVILLE, MICHIGAN, WHO HAS ENTERED INTO A SPORTS AGREEMENT FOR A "SOUTH CAMPUS" (SOCCER FIELD AND RUNNING TRACK) IN MARYSVILLE. IN BOTH THESE INSTANCES, SC4 FOUNDATION HAS NOT PROVIDED ANY FINANCIAL SUPPORT FOR THESE SERVICES OR INITIATIVES. FORM 990, PART VI, SECTION B, LINE 11B FOLLOWING APPROVAL OF ITS AUDITED FINANCIAL STATEMENTS, THE BOARD SEPARATELY REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C UNDER ITS AGENCY FUND AND SUPPLEMENTAL MEMORANDUM OF UNDERSTANDING SERVICING AGREEMENTS, SC4 FOUNDATION ADOPTED POLICIES AND PRACTICES THAT ALIGN TO THE COMMUNITY FOUNDATION OF ST. CLAIR COUNTY (THE "COMMUNITY FOUNDATION"). ANNUALLY, THE BOARD UPDATES POTENTIAL CONFLICTS OF INTERESTS AND APPROVES ITS DELEGATION OF GRANT-MAKING AUTHORITY, OUTLINING HOW GRANTS AND AWARDS WILL BE MADE THROUGH ITS DECENTRALIZED SYSTEM OF COMMITTEES. AS A COMPONENT OF ST. CLAIR COUNTY COMMUNITY COLLEGE (SC4), SOME DONOR FUNDS MAY AWARD GRANTS DIRECTLY TO SC4 IN SUPPORT OF ITS PROGRAMS, OPERATIONS OR FACILITIES. HOWEVER, THE BULK OF AWARDS ARE MADE IN THE FORM OF SCHOLARSHIPS TO STUDENTS AT SC4, WITH DISTRIBUTION BEING MADE TO SC4 ON THOSE STUDENTS' BEHALF. UNDER THE ANNUAL GRANT-MAKING AUTHORITY DELEGATION, SELECTION OF STUDENT SCHOLARSHIP AWARDS IS DELEGATED TO SC4'S DIRECTOR OF FINANCIAL SERVICES AND HER STAFF, WHO ARE INDEPENDENT FROM THE SC4 FOUNDATION FUND DONORS. FOLLOWING THE COLLEGE'S NON-DISCRIMINATORY PRACTICES, SC4 STAFF MEMBERS MATCH RECIPIENTS TO SPECIFIED CRITERIA FOR EACH OF SC4 FOUNDATION DONOR FUNDS. FOR EACH SCHOLARSHIP CYCLE, A LIST OF STUDENT AWARDS IS PROVIDED TO THE COMMUNITY FOUNDATION'S PROGRAM TEAM FOR PROCESSING. COMMUNITY FOUNDATION PROGRAM TEAM STAFF REVIEW AWARDS AND ADDRESS ANY POTENTIAL CONFLICTS OF INTEREST AMONG THE SCHOLARSHIP SELECTION COMMITTEE MEMBERS. SUBSEQUENTLY AT TIME OF SC4 INVOICING, THEY WORK WITH SC4 STAFF TO DOCUMENT AND RECORD SCHOLARSHIP WITHDRAWALS OR FORFEITURES. THE ROLE OF THE BOARD'S APPOINTED SCHOLARSHIP OVERSIGHT COMMITTEE IS TO ENSURE DONOR FUNDS ACTIVELY MAKE AWARDS, AND WHERE APPROPRIATED SPENDING BUDGETS ARE NOT BEING SPENT, ASSESS THE REASONS AND RECOMMEND BOARD ACTION AS APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 THE SC4 FOUNDATION IS A COMPONENT OF THE ST. CLAIR COUNTY COMMUNITY COLLEGE (SC4) AND AS SUCH, ITS FINANCIAL STATEMENTS WOULD GET INCORPORATED INTO SC4'S AUDITED FINANCIAL STATEMENTS. THE SC4 FOUNDATION CONTINUES TO OPERATE UNDER AN AGENCY FUND AND SUPPLEMENTAL MEMORANDUM OF UNDERSTANDING SERVICING AGREEMENTS WITH THE COMMUNITY FOUNDATION OF ST. CLAIR COUNTY FOR FUND MANAGEMENT AND ORGANIZATIONAL SERVICES. SUCH AGREEMENTS WERE EXECUTED IN 2018, WITH THE PRIMARY GOAL OF THIS NEW COLLABORATION TO ENHANCE ENDOWMENT FUND MANAGEMENT AND INCREASE PHILANTHROPIC SUPPORT FOR ST. CLAIR COUNTY COMMUNITY COLLEGE AND ITS STUDENTS. WHEREAS SCHOLARSHIP SELECTION WAS TRANSITIONED BACK TO SC4 STAFF IN 2020, ALL OTHER FUND MANAGEMENT AND ORGANIZATIONAL SERVICES ARE PERFORMED BY THE COMMUNITY FOUNDATION OF ST. CLAIR COUNTY. THROUGH THE DURATION OF THE MEMORANDUM OF UNDERSTANDING, THE SC4 FOUNDATION'S CORPORATE GOVERNING DOCUMENTS, INFORMATION ON ITS CONFLICT OF INTEREST POLICY, ITS AUDITED FINANCIAL STATEMENTS AND FORM 990'S ARE AVAILABLE BY THE COMMUNITY FOUNDATION OF ST. CLAIR COUNTY UPON REQUEST. RELATED PARTIES AND RELATED RELATIONSHIPS: SC4 FOUNDATION IS A COMPONENT OF ST. CLAIR COUNTY COMMUNITY COLLEGE (SC4). REFER TO FOOTNOTE 1 OF THE AUDIT REPORT. AS SUCH, THERE WERE A FEW RELATED TRANSACTIONS: 1) SC4 FOUNDATION PROVIDED GRANTS TO SC4 AGGREGATING $106,273 (NET OF CFSCC'S THIRD PARTY SHARE) FOR ITS FACILITIES AND/OR PROGRAMS. 2) SC4 PROVIDES STUDENT SCHOLARSHIP SELECTION FOR SC4 FOUNDATION AT NO COST (AS A RELATED ORGANIZATION), WHICH RESULTS IN A REPORTED IN-KIND GIFT AND EXPENSE OF $8,095. THIS AMOUNT REPRESENTS THE COST ALLOCATION OF 125 HOURS OF TIME (WAGES/BENEFITS) FOR SC4 STAFF PERFORMING SUCH SERVICES FOR THE FISCAL YEAR-ENDED JUNE 30, 2024. ST CLAIR COUNTY COMMUNITY COLLEGE 323 ERIE ST PO BOX 5015 PORT HURON MI 48061 381857017 COLLEGE MI GOV N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ST CLAIR COUNTY COMMUNITY COLLEGE B 43950 ACCRUAL BASIS