2011-12-21T17:57:49-06:00 2011-06-30 MOSS ADAMS LLP 601 W RIVERSIDE SUITE 1800 SPOKANE WA 992010629 990 2010-07-01 820337334 NORTH IDAHO COLLEGE FOUNDATION INC NORT 2087695978 1000 W GARDEN AVENUE COEUR DALENE ID 83814 RAYELLE ANDERSON 2087695978 2011-12-21 1 CHERI R BURNHAM CPA 5097472600 2010 2016-02-24 21:20:13Z RAYELLE ANDERSON 1000 W GARDEN AVENUE COEUR DALENE ID 83814 2532312 0 X WWW.NIC.EDU/FOUNDATION X 1977 ID NORTH IDAHO COLLEGE FOUNDATION WAS FOUNDED TO PROVIDE A FOCUSED EFFORT TO ENCOURAGE PRIVATE SUPPORT FOR THE EDUCATIONAL MISSION OF NORTH IDAHO COLLEGE. THE FOUNDATION STRIVES TO ENHANCE AVAILABLE CAPITAL FOR STUDENT SCHOLARSHIPS, EDUCATIONAL FACILITIES, PROGRAMS AND PROJECTS THAT WOULD NOT BE FUNDED THROUGH TRADITIONAL SOURCES OF SUPPORT. 27 23 0 138 0 0 3566040 1376968 0 0 202810 254487 398400 391661 4167250 2023116 634384 595201 0 0 129867 132345 0 0 84009 149617 170328 913868 897874 3253382 1125242 19599387 17637771 6128327 1289777 13471060 16347994 X NORTH IDAHO COLLEGE FOUNDATION WAS FOUNDED TO PROVIDE A FOCUSED EFFORT TO ENCOURAGE PRIVATE SUPPORT FOR THE EDUCATIONAL MISSION OF NORTH IDAHO COLLEGE. THE FOUNDATION STRIVES TO ENHANCE AVAILABLE CAPITAL FOR STUDENT SCHOLARSHIPS, EDUCATIONAL FACILITIES, PROGRAMS AND PROJECTS THAT WOULD NOT BE FUNDED THROUGH TRADITIONAL SOURCES OF SUPPORT. 0 0 681751 595201 16995 NORTH IDAHO COLLEGE FOUNDATION, INC. PROVIDES SCHOLARSHIPS AND OTHER SOURCES OF ASSISTANCE TO NORTH IDAHO COLLEGE STUDENTS, FACULTY AND FOR EDUCATIONAL ACTIVITIES. 681751 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 X 9 5 1 0 0 0 0 0 0 1 1 0 0 0 0 X 27 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 0 0 ID X EVA ANDERSON 2087695978 1000 W GARDEN AVE COEUR DALENE ID 83814 X JOE ABATE 1.00 X 0 0 0 MIC ARMON 1.00 X 0 0 0 JODY AZEVEDO 1.00 X 0 0 0 SANDI BLOEM 1.00 X 0 0 0 CJ BUCK 1.00 X 0 0 0 MIKE CHAPMAN 1.00 X 0 0 0 JIM COLEMAN 1.00 X 0 0 0 BRAD DUGDALE 1.00 X 0 0 0 JIM EISSES 1.00 X 0 0 0 ART ELLIOTT 1.00 X 0 0 0 JOHN GOEDDE 1.00 X 0 0 0 RON JACOBSON 1.00 X 0 0 0 STEVE MEYER 1.00 X 0 0 0 CLAUDIA MIEWALD 1.00 X 0 0 0 BEN ROLPHE 1.00 X 0 0 0 DICK SAMS 1.00 X 0 0 0 SUE THILO 1.00 X 0 0 0 JIM THORPE 1.00 X 0 0 0 TOM TORGERSON 1.00 X 0 0 0 KIMBER GATES TRAVIS 1.00 X 0 0 0 MARC WALLACE 1.00 X 0 0 0 JOHN YOUNG 1.00 X 0 0 0 TIM KOMBEREC 2.00 X X 0 0 0 MARK FISHER 2.00 X X 0 0 0 DAVID WOLD 2.00 X X 0 0 0 PRISCILLA BELL 2.00 X X 0 0 0 MICHELLE SCHINI HANELINE 2.00 X X 0 0 0 RAYELLE ANDERSON 45.00 X 44042 0 7917 44042 0 7917 0 0 0 0 0 1376968 343751 1376968 254487 254487 164137 164137 164137 164137 219725 219725 0 0 500000 289471 210529 210529 OTHER INCOME 999999 16995 16995 16995 2023116 16995 0 629153 595201 595201 56505 29818 26687 61688 31493 30195 14152 8889 5263 24939 23823 1116 9250 9250 39998 39998 17194 2134 15060 3702 3702 119 119 3417 3417 21199 21199 41528 41528 5880 5880 PRESIDENT'S DEVELOPMENT 2057 2057 PLANNED GIVING CULTIVAT 1045 1045 897874 681751 132114 84009 3475488 33214 2482412 77000 249500 51596 67945 5336551 213771 9796 16760 2178216 1687652 532093 490564 25065 25065 9313004 13571373 778794 487167 19599387 17637771 84140 67015 425800 6017707 796962 26480 0 6128327 1289777 X 2172520 2435225 2585223 4205753 8713317 9707016 13471060 16347994 19599387 17637771 X 1125242 1751692 X X 0 1 1 X 0 X 835723 914013 1131652 3566040 1376968 7824396 835723 914013 1131652 3566040 1376968 7824396 2846814 4977582 420863 398858 363898 366947 418624 1969190 516559 500000 508658 500000 516995 2542212 12335798 0.40350 0.37600 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GAMING RECEIPTS OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11133082 1023014 2103282 217171 14042207 8099547 2187905 1139732 294102 11133082 9145429 837272 -1581575 301579 8099547 0.13630 0.69130 0.17250 0 0 339833 339833 1828470 1677877 150593 4819 4681 138 5094 5094 0 490564 COMMON FUND SECURITIES 13406365 F TREASURY BILLS 90000 F DOMESTIC EQUITIES 75008 F 13571373 2023116 897874 1125242 2000385 -248693 1751692 2876934 4272974 2000385 289471 2289856 1983118 39998 39998 2023116 1147347 289471 289471 857876 39998 39998 897874 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT HAS BEEN ESTABLISHED TO SUSTAIN OUR CHARITABLE MISSION AND TO PROVIDE A LONG TERM SOURCE OF INCOME FOR PROVIDING SCHOLARSHIPS TO STUDENTS OF NORTH IDAHO COLLEGE AND FOR SUPPORTING OTHER PROGRAMS OF NORTH IDAHO COLLEGE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) EXCEPT TO THE EXTENT OF UNRELATED BUSINESS TAXABLE INCOME AS DEFINED UNDER IRC SECTIONS 511 THROUGH 515. THE FOUNDATION ADOPTED THE PROVISIONS OF FASB ASC 740-10, INCOME TAXES, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS ON JULY 1, 2009, WHICH HAD NO FINANCIAL STATEMENT IMPACT TO THE FOUNDATION. THE FOUNDATION RECOGNIZES THE TAX BENEFIT FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFIT IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE FOUNDATION RECOGNIZES INTEREST AND PENALTIES RELATED TO INCOME TAX MATTERS, IF ANY, IN OPERATING EXPENSES. THE FOUNDATION HAD NO UNRECOGNIZED TAX BENEFITS THAT WOULD REQUIRE AN ADJUSTMENT TO THE JULY 1, 2009, BEGINNING BALANCE OF NET ASSETS AND HAD NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2010 AND 2011. NO INTEREST AND PENALTIES WERE ACCRUED UPON ADOPTION OR FOR THE YEARS ENDED JUNE 30, 2010 AND 2011. THE FOUNDATION FILES AN EXEMPT ORGANIZATION RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE IDAHO CHARITIES DIVISION. THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR YEARS BEFORE 2007 FOR ITS FEDERAL AND STATE FILINGS. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING DIRECT EXPENSES 289,471. PART XIII, LINE 2D - OTHER ADJUSTMENTS: GAMING DIRECT EXPENSES 289,471. FORM 990, SCHEDULE D, PART XI, LINE 7, PRIOR PERIOD ADJUSTMENTS: DURING THE YEAR ENDED JUNE 30, 2011, THE FOUNDATION CORRECTED THE FOLLOWING ERROR IN THE ACCOUNTING METHODS USED IN PRIOR PERIODS AND AS A RESULT, RESTATED ITS 2010 FINANCIAL STATEMENTS, INCLUDING NET ASSETS AS OF JULY 1, 2009. THE FOUNDATION'S RAFFLE TICKET SALES AND EXPENSES RELATED TO RAFFLE PRIZES HAD BEEN RECORDED IN JUNE OF EACH FISCAL YEAR, RATHER THAN IN JULY OF EACH FISCAL YEAR. THE FOUNDATION'S REALLY BIG RAFFLE IS HELD IN JULY OF EACH FISCAL YEAR AT WHICH TIME THE REVENUE AND RELATED EXPENSES SHOULD BE RECOGNIZED. THE RESTATEMENT RESULTED IN THE FOLLOWING CHANGES TO THE JUNE 30, 2010, FINANCIAL STATEMENTS: STATEMENT OF FINANCIAL POSITION: ACCOUNTS RECEIVABLE -$22,800 OTHER ASSETS $251,308 DEFERRED REVENUE $477,200 UNRESTRICTED NET ASSETS $248,693 STATEMENT OF ACTIVITIES: FUND-RAISING EXPENSES $27,212 INCREASE IN UNRESTRICTED NET ASSETS $27,212 NET ASSETS AT JULY 1, 2009 $221,481 NET ASSETS AT JUNE 30, 2010 $248,693 500000 251908 37563 1 0.86000 500000 251908 37563 289471 210529 ID 1 0 1 0 1.00000 EVA ANDERSON 1000 W GARDEN AVE COEUR DALENE ID 83814 0 EVA ANDERSON KRISTEN MCFADDEN 0 KRISTEN MCFADDEN, CO-GAMING MANAGER, DUTIES INCLUDE EVENT AND TICKET SALE COORDINATION, PROMOTION, AND VOLUNTEER RECRUITMENT. EVA ANDERSON, CO-GAMING MANAGER, DUTIES INCLUDE RECORD KEEPING, REPORTING, AND DEPOSITS.COMPENSATION - EACH INDIVIDUAL ABOVE INCORPORATES THEIR ACTIVITIES FOR THE "REALLY BIG RAFFLE" INTO THEIR DUTIES AS BOOKKEEPER (MS. ANDERSON) AND DATABASE INFORMATION COORDINATOR (MS. MCFADDEN). AS SUCH, THEIR PAY IS NOT SPECIFICALLY LINKED TO THEIR ACTIVITIES AS "GAMING MANAGER." X 1 210529 1 NORTH IDAHO COLLEGE 1000 W GARDEN AVE COEUR DALENE ID 83814 826000936 501(C)(3) 595201 SCHOLARSHIPS & PROGRAM SUPPORT 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENT SCHOLARSHIP FUNDS ARE AWARDED BY NORTH IDAHO COLLEGE THROUGH AN INDEPENDENT SELECTION PROCESS INVOLVING COMMITTEES BASED ON THE CRITERIA OF EACH SCHOLARSHIP FUND. THE FOUNDATION DOES NOT CHOOSE RECIPIENTS, RATHER, THE FOUNDATION SENDS FUNDS TO THE COLLEGE INDICATING HOW MUCH IS AVAILABLE FOR EACH FUND, ALONG WITH THE CRITERIA FOR EACH FUND. FOUNDATION GRANTS ARE MADE AVAILABLE TO THE COLLEGE'S STAFF, FACULTY, AND STUDENT GROUPS THROUGH A COMPETITIVE PROCESS. GRANTS ARE NOT FOR PERSONAL REWARD BUT MUST BE RELATED TO PROJECTS AND PROGRAMS THAT FURTHER THE MISSION OF THE COLLEGE. AWARDS ARE DISTRIBUTED TO GRANTEES VIA THE COLLEGE DEPARTMENTS AND IN LINE WITH THE COLLEGE'S PURCHASING PROCESS. MOUNTAIN WEST BANK 4 COMMON DIRECTORS 157344 THE FOUNDATION PAID OFF THE OUTSTANDING LOAN PAYABLE TO MOUNTAIN WEST BANK ON JULY 23, 2010, PAYING INTEREST OF $157,344. FOUR OF THE MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS ALSO SERVE ON THE BOARD FOR THE BANK. 0 X 1 75555 SALES PRICE/FMV X 2 24000 FMV X ESTATE GIFT RECEIVABLE 1 214718 EST. PRESENT VALUE X BUILDING SUPPLIES/SERVICES 13 15276 FMV X PRIZES & GIFT CERTIFICATES 29 14202 FMV 0 1 0 FORM 990, PAGE 5, PART V, LINE 2A: NORTH IDAHO COLLEGE PAYS FULL SALARY AS A COMMON PAYMASTER AND IS RESPONSIBLE FOR ALL REPORTING RELATED THERETO. THE ORGANIZATION DOES NOT FILE ITS OWN W-2'S. FORM 990, PART VI, SECTION B, LINE 11 COPY IS PROVIDED TO ORGANIZATION'S TREASURER, WHO IS CURRENTLY A CPA, AND THE EXECUTIVE DIRECTOR WHO REVIEW AND APPROVE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD MEMBERS ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY. THE POLICY IS REVIEWED ANNUALLY WITH BOARD MEMBERS, THEN AGAIN AS NEEDED FOR SPECIFIC ISSUES COMING TO THE BOARD'S ATTENTION. PARTIES WHO HAVE A POTENTIAL CONFLICT ARE TO ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE DIRECTOR SALARY IS DETERMINED BY NORTH IDAHO COLLEGE. NORTH IDAHO COLLEGE BASES ALL SALARIES ON A MARKET BASED SALARY SURVEY. THE PORTION OF THE SALARY PAID BY NORTH IDAHO COLLEGE FOUNDATION IS APPROVED BY THE BOARD IN ITS APPROVAL OF THE BUDGET FOR THE FOUNDATION, USUALLY IN JUNE OF THE PREVIOUS FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR INSPECTION UPON REQUEST. FORM 1023 WAS FILED BEFORE JULY 15, 1987 AND NO COPY WAS ON FILE ON JULY 15, 1987. THEREFORE, THIS FORM IS NOT REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION PER INSTRUCTIONS FOR THIS LINE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII - COMPENSATION EXPLANATION NORTH IDAHO COLLEGE PAYS THE FULL SALARY OF RAYELLE ANDERSON AND IS RESPONSIBLE FOR ALL REPORTING RELATED THERETO. 59% OF THE EMPLOYEE'S SALARY IS DESIGNATED AS BEING FOR HER SERVICES TO THE FOUNDATION. THEREFORE THE FOUNDATION REIMBURSES NORTH IDAHO COLLEGE FOR 59% OF THE EMPLOYEE'S BASE SALARY AND BENEFITS. THE AMOUNT LISTED IN PART VII IS 59% OF THE REPORTABLE COMPENSATION (BOX 5, 2010 W-2). CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,000,385. PRIOR PERIOD ADJUSTMENTS: -248,693. TOTAL TO FORM 990, PART XI, LINE 5: 1,751,692. FORM 990, PART XI, LINE 2C: THE FOUNDATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS. THERE HAVE BEEN NO CHANGES TO THIS PROCESS DURING THE CURRENT YEAR.