2024-05-14T08:43:22-05:00 2023-06-30 450250958 EIDE BAILLY LLP 10681 FOOTHILL BLVD STE 300 RANCHO CUCAMONGA CA 917303831 990 2022-07-01 943295149 LOS MEDANOS COLLEGE FOUNDATION LOSM 9254737315 2700 EAST LELAND RD PITTSBURG CA 94565 MIKE MCGILL BOARD CHAIR 9254737315 2024-04-25 1 MIKE MCGILL 999009999 1 CATHERINE L GRAY CPA P01294460 9094664410 2024-04-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MIKE MCGILL 2700 EAST LELAND RD PITTSBURG CA 94565 322505 0 X LOSMEDANOS.EDU/FOUNDATION X 1997 CA TO DEVELOP RESOURCES AND RELATIONSHIPS THAT PROVIDE FINANCIAL SUPPORT TO LOS MEDANOS COLLEGE STUDENTS THROUGH STUDENT SCHOLARSHIPS, STUDENT PROGRAMS AND SERVICES, INSTRUCTIONAL SUPPLIES, AND FACILITY IMPROVEMENTS. 9 9 0 8 0 0 214309 145789 0 0 -6426 28858 0 0 207883 174647 104981 90616 0 0 0 0 0 0 38251 126749 154481 231730 245097 -23847 -70450 1356061 1310445 2950 10099 1353111 1300346 X TO DEVELOP RESOURCES AND RELATIONSHIPS THAT PROVIDE FINANCIAL SUPPORT TO LOS MEDANOS COLLEGE STUDENTS THROUGH STUDENT SCHOLARSHIPS, STUDENT PROGRAMS AND SERVICES, INSTRUCTIONAL SUPPLIES, AND FACILITY IMPROVEMENTS. 0 0 172689 90616 SINCE ITS FORMATION IN 1997, THE LOS MEDANOS COLLEGE (LMC) FOUNDATION HAS BEEN COMMITTED TO BUILDING PATHWAYS FOR LMC STUDENTS TO FULFILL THEIR DREAMS. THE LMC FOUNDATION RAISES FUNDS AND ALLOCATES CRITICAL FINANCIAL SUPPORT FOR EDUCATIONAL AND CAREER TECHNICAL TRAINING PROGRAMS, TEACHING FACILITIES, STUDENT SCHOLARSHIPS AND EMERGENCY FUNDS.SUPPORT TO COLLEGE PROGRAMS CONTINUES TO BE ONE OF THE LARGEST FOCUS AREAS FOR THE FOUNDATION. COLLEGE PROGRAMS DIRECTLY IMPACT STUDENTS EVERY DAY THROUGH A VARIETY OF SUCCESS INITIATIVES, MENTOR COHORTS, AND MORE. INVESTMENTS FROM CORPORATIONS AND INDIVIDUAL DONORS HAVE ENABLED THE LMC FOUNDATION FOR THE PAST 5 YEARS TO:-AWARD OVER 9,000 SCHOLARSHIPS TO STUDENTS TO TRANSFER TO FOUR -YEAR COLLEGES AND UNIVERSITIES-SUPPORT CAREER TECHNICAL PROGRAMS IN NURSING, ELECTRICAL ENGINEERING, LAW ENFORCEMENT,EMERGENCY MEDICAL TECHNOLOGY AND FIREFIGHTING.-HELP STUDENTS LEARN SKILLS THAT LEAD TO JOBS EARNING MORE THAN $90,000 PER YEAR,-PROVIDE EMERGENCY FINANCIAL SUPPORT TO MORE THAN 400 LOW-INCOME STUDENTS STRUGGLING WITH BASIC NEEDS. ONCE THESE NEEDS ARE MET, STUDENTS ARE ABLE TO REMAIN IN SCHOOL AND COMPLETE THEIR GOALS.THE LMC FOUNDATION IS SUPPORTED BY THE GENEROUS AND FORWARD-THINKING EAST COUNTY COMMUNITY THROUGH THEIR DONATIONS, PARTICIPATION IN OUR SPECIAL EVENTS AND INVOLVEMENT WITH OUR AWARD WINNING ACADEMIC PROGRAMS AND FACULTY. THE COMMITMENT OF OUR DONORS AND SPONSORS IS A TESTAMENT TO THE COLLEGE'S VALUE TO BUSINESSES, INDUSTRY AND OUR COMMUNITY IN PROVIDING EDUCATIONAL EXCELLENCE TO THOSE STUDENTS ENTERING OUR DOORS. 172689 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 23 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 CA X LEETHA ROBERTSON 9254737315 2700 EAST LELAND RD PITTSBURG CA 94565 BOB KRATOCHVIL DIRECTOR - LMC PRESIDENT (JULY -DEC) 2.00 40.00 X 0 288460 25994 PAMELA RALSTON DIRECTOR - LMC PRESIDENT (JAN-JULY) 2.00 40.00 X 0 0 0 LEETHA ROBERTSON SECRETARY (JULY-APRIL)/FOUNDATION MANAGER 2.00 40.00 X X 0 82401 10017 MONA FOSTER WHITE DIRECTOR 2.00 X 0 0 0 KEANEE CHU VICE CHAIR 2.00 X X 0 0 0 BEVERLY BELL DIRECTOR 2.00 X 0 0 0 KAREN CORBURN DIRECTOR 2.00 X 0 0 0 MIKE MCGILL CHAIR 2.00 X X 0 0 0 ROBERT JONES TREASURER 2.00 X X 0 0 0 TAMMY PAPAZIAN DIRECTOR 2.00 X 0 0 0 JEFFREY BUI DIRECTOR 2.00 X 0 0 0 0 370861 36011 0 0 1 0 0 145789 145789 28402 28402 148314 147858 456 456 456 174647 0 0 28858 15312 15312 75304 75304 1146 573 229 344 71826 35733 14653 21440 5000 5000 9358 4679 1872 2807 187 93 38 56 14907 7454 2981 4472 2490 2240 100 150 3594 3594 2473 1237 494 742 ACTIVITIES 28540 16157 4953 7430 PROGRAM SUPPLIES AND MA 6426 6426 BANK MERCHANT 3398 51 3317 30 SUBSCRIPTIONS/MEMBERSHI 2700 2100 240 360 2436 1736 280 420 245097 172689 34157 38251 408154 123688 2760 2340 19348 11232 11710 8116 933437 1176301 1356061 1310445 2950 10099 2950 10099 X 222112 126940 1130999 1173406 1353111 1300346 1356061 1310445 -70450 17685 0 X 0 1 X 1 0 X 145789 145789 145789 145789 145789 28402 28402 174191 0.83690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 187403 7943 195346 203867 -16464 187403 181514 22353 203867 165064 13762 2688 181514 150546 14518 165064 0.15210 0.84790 0 0 19348 11232 8116 8116 X 223797 17685 36465 54150 169647 5000 5000 174647 276562 36465 36465 240097 5000 5000 245097 PART X, LINE 2: THE FOUNDATION HAS ADOPTED FASB ASC TOPIC 740 THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN AND PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF, BASED ON ITS MERITS, THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BY THE TAXING AUTHORITIES. MANAGEMENT BELIEVES THAT ALL TAX POSITIONS TAKEN TO DATE ARE HIGHLY CERTAIN AND, ACCORDINGLY, NO ACCOUNTING ADJUSTMENT HAS BEEN MADE TO THE FINANCIAL STATEMENTS. 1 LOS MEDANOS COLLEGE 2700 EAST LELAND RD PITTSBURG CA 94565 680342035 GOVT ENTITY 15312 0 ACTUAL AMOUNT GENERAL SUPPORT SCHOLARSHIPS 89 75304 PART I, LINE 2: THE ASSISTANCE PROVIDED IS VIA SCHOLARSHIP TO LMC STUDENTS. AN ONLINE APPLICATION PROCESS, ACADEMIC WORKS (AW), IS UTILIZED FOR BOTH THE STUDENT APPLICATION PROCESS AND THE SELECTION AND AWARD COMMITTEE REVIEW AND AWARDING PROCESS. ALL FOUNDATION SCHOLARSHIPS ARE UPLOADED INTO THE AW SYSTEM, WITH DONOR-DESIGNATED CRITERIA, AMOUNTS, AND ADDITIONAL QUALIFICATION REQUIREMENTS. ONCE STUDENTS COMPLETE A GENERAL APPLICATION WITHIN THE AW SYSTEM, THE PROGRAM AUTOMATICALLY MATCHES STUDENT APPLICANTS TO ANY SCHOLARSHIP FOR WHICH THEY ARE QUALIFED. AT THE CLOSE OF THE SCHOLARSHIPS PROCESS INFORMATION RELATED TO SCHOLARSHIP APPLICANTS, QUALIFICATIONS, AWARD NOTIFICATION, ETC., ARE KEPT IN PERPETUITY WITHIN THE AW SYSTEM. ALL SCHOLARSHIP FUNDS PROVIDED TO STUDENTS FROM THE LMC FOUNDATION ARE DISTRIBUTED DIRECTLY TO STUDENTS FOR PURPOSES THAT SUPPORT THEIR EDUCATIONAL NEEDS AS DETERMINED BY THE STUDENTS THEMSELVES. X 0 0 0 0 0 0 0 0 0 BOB KRATOCHVIL DIRECTOR - LMC PRESIDENT (JULY -DEC) 0 288460 0 0 0 0 0 0 0 25994 0 314454 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE EXECUTIVE COMMITTEE SHALL BE COMPRISED OF THE CHAIR OF THE BOARD, VICE CHAIR, SECRETARY, TREASURER, THE COLLEGE PRESIDENT, AND THE EXECUTIVE DIRECTOR AND SHALL HAVE SUCH OTHER DUTIES AS ARE PRESCRIBED FROM TIME TO TIME BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL EXERCISE ITS POWERS CONSISTENT WITH LAW, OTHER BYLAWS AND WITH RESOLUTIONS AND POLICY SET BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL HAVE ALL POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD EXCEPT THE RIGHT TO ENCUMBER PROPERTY, TO REVERSE PREVIOUS BOARD ACTIONS, OR TO FISCALLY OBLIGATE THE CORPORATION IN ANY WAY NOT IN THE APPROVED BUDGET. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT TEAM. A DRAFT OF FORM 990 IS REVIEWED BY THE MANAGEMENT TEAM, AND ANY CORRECTIONS OR MODIFICATIONS ARE MADE BY THE OUTSIDE CPA. THE REVISED DRAFT IS THEN REVIEWED BY THE FINANCE COMMITTEE. ANY CONCERNS ARE RAISED WITH THE CPA FIRM AND A CONSENSUS IS ACHIEVED. THE 990 IS THEN SHARED WITH THE BOARD AT LARGE. THE RETURN IS THEN FINALIZED AND ELECTRONICALLY FILED WITH THE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE ASKED TO SIGN THE CONFLICT OF INTEREST POLICY UPON APPROVAL OF MEMBERSHIP. NO BOARD MEMBER, THEIR RELATIVES, OR THEIR COMPANY, SHOULD RECEIVE PAYMENT FOR SERVICES. BOARD MEMBER PROSPECTS ARE VETTED FOR ANY POTENTIAL CONFLICTS OF INTEREST. THIS INCLUDES ANY COLLEGE STAFF THAT ACT AS LIAISON MEMBERS TO THE BOARD - THEY ARE NOT ALLOWED TO VOTE ON FUNDING THAT CAN DIRECTLY IMPACT THEIR COLLEGE PROGRAM AREA. ALL MEMBERS ARE ASKED TO DISCLOSE ANY POTENTIAL CONFLICT THAT MAY ARISE THROUGHOUT MEMBERSHIP WITH THE BOARD. ANNUALLY THE EXECUTIVE DIRECTOR AND THE AUDIT COMMITTEE REVIEW THE CONFLICT OF INTEREST STATEMENTS COMPLETED BY THE BOARD OF DIRECTORS WHO INTERACT WITH OUTSIDE ORGANIZATIONS OR BUSINESSES ON BEHALF OF THE CORPORATION. THE DISCLOSURES ARE PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND CONSIDERATION. IT IS DOCUMENTED IN THE BOARD MEETING MINUTES THAT MEMBERS WITH POTENTIAL CONFLICTS RECUSE THEMSELVES FROM INVOLVEMENT IN DISCUSSIONS/BOARD ACTIONS RELATING TO THE POTENTIAL CONFLICTS. MANAGEMENT OF POTENTIAL CONFLICTS WOULD BE DISCLOSED TO AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL'S COMPENSATION IS PAID BY THE CONTRA COSTA COMMUNITY COLLEGE DISTRICT, A RELATED ORGANIZATION FOR SERVICES RENDERED IN HIS/HER CAPACITY AS OFFICER OF THE FOUNDATION. THE GOVERNING BOARD OF THE DISTRICT REVIEWS AND APPROVES THE FOUNDATION DIRECTOR'S COMPENSATION IN MAY OR JUNE OF EACH FISCAL YEAR, FOLLOWING THE DISTRICT'S ESTABLISHED SALARY COMPENSATION SCHEDULE. PRIOR TO THE HIRING OF THE CURRENT TOP MANAGEMENT OFFICAL, AN OUTSIDE CONSULTANT WAS ENGAGED TO PROVIDE COMPARABILITY DATA TO THE DISTRICT'S HR DEPARTMENT. THE CONSULTANT' RECOMMENDATIONS WERE THEN PRESENTED TO AND APPROVED BY THE GOVERNING BOARD AND BY THE HR DEPARTMENT. THE ORGANIZATION DOES NOT HAVE ANY OTHER OFFICERS OR KEY EMPLOYEES THAT RECEIVE COMPENSATION FOR THEIR ROLE AT THE FOUNDATION. THE OTHER OFFICERS AND KEY EMPLOYEES RECEIVE COMPENSATION FROM A RELATED ORGANIZATION FOR THEIR ROLE AT THE RELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. FORM 990 PART VII SECTION A COLUMN F THE ORGANIZATION PARTICIPATES IN THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF CALIFORNIA, A DEFINED BENEFIT PLAN, DUE TO THE SIZE AND VARIED PARTICIPANTS IN THIS PLAN THE ACTUARIAL VALUE IS NOT CALCULATED ON A PER EMPLOYEE BASIS. NO AMOUNT IS INCLUDED IN COLUMN F FOR A REASONABLE ESTIMATE OF THE INCREASE IN ACTUARIAL VALUE. LOS MEDANOS COLLEGE 2700 EAST LELAND RD PITTSBURG CA 94565 680342035 EDUCATION CA GOVERNMENTAL 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0