2024-05-03T12:00:35-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-07-01 453787207 PINKNEY INNOVATION COMPLEX FOR SCIENCE & TECHNOLOGY AT MONTGOMERY COLLEGE FOUNDAT PINK 2409122162 9221 CORPORATE BLVD ROCKVILLE MD 20850 DR GAIL WASSERMAN BOARD CHAIR 2409122162 2024-05-01 1 DR GAIL WASSERMAN 999009999 0 ROBERT WILLIAMS P01345960 5712279500 2024-05-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR GAIL WASSERMAN 9221 CORPORATE BLVD ROCKVILLE MD 20850 152797 0 X WWW.MONTGOMERYCOLLEGE.EDU/PICMC X 2011 MD TO SUPPORT THE MISSION OF MONTGOMERY COLLEGE AND TO PROMOTE THE ADVANCEMENT OF EDUCATION. 18 15 0 15 0 0 0 0 63462 63462 239917 89335 0 0 303379 152797 0 0 0 0 0 0 0 0 0 100174 114125 100174 114125 203205 38672 6140938 6317212 5636973 5558280 503965 758932 X SUPPORT THE MISSION OF THE COLLEGE AND PROMOTE THE ADVANCEMENT OF STUDENT EDUCATION BY FOSTERING AND EXPANDING EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR FACULTY AND STUDENTS THROUGH ACADEMIC-INDUSTRY PARTNERSHIPS. (CONTINUED ON SCHEDULE O) 0 0 84790 0 63462 SUPPORT THE MISSION OF THE COLLEGE AND PROMOTE THE ADVANCEMENT OF STUDENT EDUCATION BY FOSTERING AND EXPANDING EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR FACULTY AND STUDENTS THROUGH ACADEMIC-INDUSTRY PARTNERSHIPS. ENHANCE AND ALIGN THE WORK OF THE COLLEGE WITH THOSE OF TECHNOLOGY BUSINESSES BY CO-LOCATING BUSINESSES ON CAMPUS IN AN INTEGRATED HUB THAT ACTIVELY PROMOTES INTERACTION BETWEEN FACULTY AND STUDENTS TO ACHIEVE THE COLLECTIVE GOAL OF EDUCATIONAL AND ECONOMIC SUCCESS. 84790 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 15 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X DARNIEL DORSEY FINANCE DIRECTOR 2405675325 9221 CORPORATE BLVD ROCKVILLE MD 20850 DR STEPHEN CAIN BOARD MEMBER 5.00 40.00 X 0 210915 45758 DR SANJAY RAI BOARD MEMBER 5.00 40.00 X 0 216959 21990 MARGARET LATIMER SECRETARY 10.00 40.00 X X 0 170320 31412 JOHN COMPTON PHD CHAIR 5.00 0.00 X X 0 0 0 GAIL FOLENA WASSERMAN PHD VICE CHAIR 5.00 0.00 X X 0 0 0 ALLEN DELEON TREASURER 5.00 0.00 X X 0 0 0 DAYANA BATRES STUDENT BOARD MEMBER 2.00 0.00 X 0 0 0 KELLI BROOKS BOARD MEMBER 2.00 0.00 X 0 0 0 YUM YU CHENG ESQ BOARD MEMBER 2.00 0.00 X 0 0 0 HERMANN CRUZ BOARD MEMBER 2.00 0.00 X 0 0 0 ANGELA GRAHAM BOARD MEMBER 2.00 0.00 X 0 0 0 STEPHEN KAUFMAN BOARD MEMBER 2.00 0.00 X 0 0 0 MANISH KOTHARI BOARD MEMBER 2.00 0.00 X 0 0 0 PERRY PAYLOR BOARD MEMBER 2.00 0.00 X 0 0 0 ORIT SCHARF BOARD MEMBER 2.00 0.00 X 0 0 0 KRISTINE WARNER BOARD MEMBER 2.00 0.00 X 0 0 0 DOUG WRENN IMMEDIATE PAST CHAIR 2.00 0.00 X 0 0 0 ZACH ZWICKER BOARD MEMBER 2.00 0.00 X 0 0 0 MICHAEL SMITH EXECUTIVE DIRECTOR 40.00 0.00 X 0 156571 41024 0 754765 140184 0 0 1 0 0 PROGRAM RENTAL INCOME 531120 63462 63462 63462 89335 89335 152797 63462 0 89335 X 17087 17087 84790 84790 4575 4575 2625 2625 LICENSE AND FEES 5048 5048 114125 84790 29335 0 90812 63412 384186 384186 384186 5665940 5869614 6140938 6317212 15318 79 5621655 5558201 5636973 5558280 X 503965 758932 503965 758932 6140938 6317212 38672 206425 9870 0 X X 0 1 X 1 0 X X X 1 MONTGOMERY COLLEGE 520891845 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 384186 384186 384186 X PART X, LINE 2: THE ORGANIZATION FOLLOWS ACCOUNTING GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PROVIDES GUIDANCE ON RECOGNITION, CLASSIFICATION, AND DISCLOSURE CONCERNING UNCERTAIN TAX LIABILITIES. THE EVALUATION OF A TAX POSITION REQUIRES DISCLOSURE OF A TAX LIABILITY IF IT IS MORE LIKELY THAN NOT THAT IT WILL NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE ORGANIZATION'S TAX POSITIONS, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE DISCLOSURE IN THE FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 DR STEPHEN CAIN BOARD MEMBER 0 210588 0 0 0 327 0 15733 0 30025 0 256673 0 0 DR SANJAY RAI BOARD MEMBER 0 216632 0 0 0 327 0 15733 0 6257 0 238949 0 0 MARGARET LATIMER SECRETARY 0 170320 0 0 0 0 0 10152 0 21260 0 201732 0 0 MICHAEL SMITH EXECUTIVE DIRECTOR 0 155878 0 0 0 693 0 12151 0 28873 0 197595 0 0 FORM 990, PART III, LINE 1 ENHANCE AND ALIGN THE WORK OF THE COLLEGE WITH THOSE OF TECHNOLOGY BUSINESSES BY CO-LOCATING BUSINESSES ON CAMPUS IN AN INTEGRATED HUB THAT ACTIVELY PROMOTES INTERACTION BETWEEN FACULTY AND STUDENTS TO ACHIEVE THE COLLECTIVE GOAL OF EDUCATIONAL AND ECONOMIC SUCCESS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, THE IMMEDIATE PAST CHAIR, THE VICE CHAIR, THE SECRETARY, THE TREASURER, TREASURER COMMITTEE CHAIR, AUDIT AND GOVERNANCE COMMITTEE CHAIR, ACADEMIC PARTNERSHIPS COMMITTEE CHAIR, AND REAL ESTATE COMMITTEE CHAIR. THE EXECUTIVE COMMITTEE IS DELEGATED THE AUTHORITY AND POWERS OF THE BOARD. ACTIVITIES AND DECISIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD AT THE NEXT SCHEDULED REGULAR MEETING. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS GIVE MONTGOMERY COLLEGE THE AUTHORITY TO APPOINT THE MAJORITY OF THE VOTING BOARD MEMBERS OF THIS ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY ALL BOARD MEMBERS OF THE ORGANIZATION BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO EACH FOUNDATION BOARD MEMBER, OFFICER, AND VOLUNTEER SERVING IN AN EQUIVALENT CAPACITY. AT THE TIME OF APPOINTMENT OR HIRING AND ANNUALLY THEREAFTER, EACH FOUNDATION BOARD MEMBER, OFFICER, OR VOLUNTEER ACTING IN AN EQUIVALENT CAPACITY MUST DISCLOSE HIS OR HER FINANCIAL INTEREST(S) AS WELL AS ANY OTHER ACTUAL OR POTENTIAL INTEREST(S) OR RELATIONSHIP(S) THAT MIGHT BE CONSTRUED AS AFFECTING HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN LIGHT OF HIS OR HER DECISION-MAKING AUTHORITY OR FIDUCIARY RESPONSIBILITY. A COVERED PERSON SHALL MAKE SUCH DISCLOSURES ON THE FOUNDATION'S DISCLOSURE FORM AND SUBMIT IT TO THE CHAIR OF THE FOUNDATION BOARD OR HIS/HER DESIGNEE AT THE TIME OF APPOINTMENT OR HIRE AND THEREAFTER ANNUALLY BY JULY 1, THE BEGINNING OF THE FOUNDATION'S FISCAL YEAR. A COVERED PERSON WITH NO REPORTABLE INTEREST SHALL SO INDICATE ON THE DISCLOSURE FORM AND SUBMIT IT TO THE FOUNDATION BOARD CHAIR OR HIS/HER DESIGNEE. IF THERE IS ANY CHANGE TO A COVERED PERSON'S FINANCIAL INTERESTS OR OTHER REPORTABLE INTERESTS OR RELATIONSHIPS DURING THE FISCAL YEAR, THE COVERED PERSON SHALL PROMPTLY AMEND HIS OR HER DISCLOSURE FORM. THE BOARD CHAIR, IN CONSULTATION WITH THE FOUNDATION'S LEGAL COUNSEL AND EXECUTIVE COMMITTEE, WILL REVIEW THE DISCLOSURE FORMS AND DETERMINE WHETHER A COVERED PERSON HAS AN ACTUAL, POTENTIAL, OR APPARENT CONFLICT OF INTEREST. A COVERED PERSON WITH AN ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST MAY MAKE A PRESENTATION AT A MEETING OF THE FOUNDATION BOARD OR ONE OF ITS COMMITTEES. A COVERED PERSON MUST DISCLOSE HIS OR HER INTEREST PRIOR TO THE FOUNDATION BOARD'S OR COMMITTEE'S DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR ARRANGEMENT INVOLVING THE COVERED PERSON'S ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST. HE OR SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, SUCH PROPOSED TRANSACTION OR ARRANGEMENT. THE FOUNDATION BOARD OR COMMITTEE MAY APPROVE THE TRANSACTION OR ARRANGEMENT BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS PRESENT AND VOTING IF THE TRANSACTION OR ARRANGEMENT IS FAIR AND REASONABLE TO THE FOUNDATION. TO THE EXTENT NOT COVERED BY THE PROCEDURES DESCRIBED ABOVE, THE BOARD CHAIR, IN CONSULTATION WITH LEGAL COUNSEL, THE EXECUTIVE COMMITTEE, AND THE COVERED PERSON, SHALL DETERMINE APPROPRIATE MEASURES TO BE TAKEN TO MANAGE AN ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST OF AN OFFICER OR VOLUNTEER ACTING IN AN EQUIVALENT CAPACITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 84,790. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,790. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PRIOR YEAR. MONTGOMERY COLLEGE 9221 CORPORATE BOULEVARD ROCKVILLE MD 20850 520891845 COLLEGE MD N/A N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0