2024-02-08T09:07:53-06:00 2023-06-30 521224986 PKS & COMPANY PA 1801 SWEETBAY DRIVE SALISBURY MD 21804 990 2022-07-01 521104909 CHESAPEAKE COLLEGE FOUNDATION INC CHES 4108275816 PO BOX 8 WYE MILLS MD 21679 ROBERT SHEEHAN JR PRESIDENT 4108275816 2023-12-15 1 ROBERT SHEEHAN JR 999009999 0 ASHLEY M STERN CPA P01269004 4105465600 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT SHEEHAN JR PO BOX 8 WYE MILLS MD 21679 2546257 0 X WWW.CHESAPEAKE.EDU/FOUNDATION X 1977 MD CHARITABLE AND EDUCATIONAL PURPOSES TO BENEFIT THE STUDENTS AND FACULTY OF CHESAPEAKE COLLEGE. 21 21 0 0 0 0 1238227 542220 0 0 567609 326141 0 0 1805836 868361 797565 631934 0 0 0 0 0 0 29 63695 61890 861260 693824 944576 174537 8084053 8815819 276736 465724 7807317 8350095 X THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF FURTHERING THE EDUCATIONAL PROGRAMS, FACILITIES, AND OPPORTUNITIES AT CHESAPEAKE COLLEGE, BY PROVIDING FINANCIAL RESOURCES TO MEET THE COLLEGE'S GOALS AND OPPORTUNITIES AT CHESAPEAKE COLLEGE, BY PROVIDING FINANCIAL RESOURCES TO MEET THE COLLEGE'S GOALS AND OBJECTIVES. 0 0 640332 631934 PROVIDED DONOR CONTRIBUTIONS AND EARNINGS FROM ENDOWMENTS TO FUND ACADEMIC AWARDS, GRANTED BY CHESAPEAKE COLLEGE TO STUDENTS WHO MEET DONOR-IMPOSED REQUIREMENTS. THROUGH DONOR CONTRIBUTIONS, EVENTS, AND EARNINGS FROM ENDOWMENTS, THE FOUNDATION WAS ABLE TO GIVE BACK $828,124 TO CHESAPEAKE COLLEGE. THESE CONTRIBUTIONS WERE USED TO SUPPORT STUDENT SCHOLARSHIPS, INNOVATIVE TEACHING FOR FACULTY, ALUMNI PROGRAMMING AND RECOGNITION, AND STUDENT LEARNING OPPORTUNITIES. 640332 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 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 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X TRACY BRINCKERHOFF DIRECTOR OF FINANCE AND BUDGET 4108275866 1000 COLLEGE CIRCLE WYE MILLS MD 21679 MILTON NAGEL MEMBER 1.00 X 0 0 0 DEWEY BLADES MEMBER 1.00 X 0 0 0 ROBBY SHEEHAN PRESIDENT 1.00 X X 0 0 0 BRUCE ARMISTEAD MEMBER 1.00 X 0 0 0 PASSION BOLDEN-TILGHMAN MEMBER 1.00 X 0 0 0 DR CLIFF COPPERSMITH MEMBER/CHESAPEAKE COLLEGE 10.00 40.00 X 0 191253 29116 JOHN HAAS MEMBER 1.00 35.00 X 0 0 0 JOHN FOSTER MEMBER 1.00 X 0 0 0 STUART BOUNDS MEMBER 1.00 X 0 0 0 REZA JAFARI MEMBER 1.00 X 0 0 0 WILLIAM KRAMPF MEMBER 1.00 40.00 X 0 0 0 EVAN MILES SECRETARY 1.00 X X 0 0 0 LESLEY SCHLESS MEMBER 1.00 X 0 0 0 J BRIAN STITCHER MEMBER 1.00 X 0 0 0 BOB GRACE MEMBER 1.00 X 0 0 0 KATIE BLAHA TREASURER 1.00 X X 0 0 0 JOHN DELUCA MEMBER 1.00 X 0 0 0 LINDA FRIDAY VICE PRESIDENT 1.00 X X 0 0 0 ROBIN MARTIN MEMBER 1.00 X 0 0 0 DARIUS JOHNSON MEMBER 1.00 X 0 0 0 DOUGLAS GILL MEMBER 1.00 X 0 0 0 KAREN SMITH VICE PRESIDENT OF ADMINIST 4.00 31.00 X 0 141294 23461 AMBER MCGINNIS EXECUTIVE DIRECTOR 1.00 40.00 X 0 58561 19738 0 391108 72315 0 0 1 0 0 3835 538385 542220 224653 224653 1779384 1677896 101488 101488 101488 0 3835 0 0 868361 0 0 326141 631934 631934 25624 25624 4651 4651 29 29 BANKING FEES 23188 23188 REFRESHMENTS/AWARDS 8398 8398 693824 640332 53463 29 546966 428972 170839 7733 14132 158 7346116 8372956 6000 6000 8084053 8815819 276736 465724 276736 465724 X 591951 723437 7215366 7626658 7807317 8350095 8084053 8815819 174537 368241 0 X X 0 1 X 1 0 X 813613 1294179 555914 1238227 542220 4444153 813613 1294179 555914 1238227 542220 4444153 1389433 3054720 207801 173853 157281 286981 224653 1050569 5494722 0.55590 0.61750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6000 X X 0 4309220 63047 532737 139022 212549 4831477 5795231 124560 -1015849 215856 378866 4309220 4197090 28960 1791830 212639 10010 5795231 3940329 410207 346444 209342 44922 4442716 3766621 54279 343631 73125 151077 3940329 1 0 0 X 1436213 368241 199611 567852 868361 0 868361 893435 199611 199611 693824 0 693824 PART III, LINE 1A: VARIOUS PIECES OF ARTWORK THAT ARE DISPLAYED THROUGHOUT THE CAMPUS ENHANCE THE EDUCATIONAL VALUE OF THE STUDENT'S ENVIRONMENT. PART V, LINE 4: THE PRIMARY INVESTMENT OBJECTIVE IS TO ACHIEVE A LONG-TERM TOTAL RETURN IN ORDER TO FUND SCHOLARSHIPS. PART X, LINE 2: THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. 1 CHESAPEAKE COLLEGE PO BOX 8 WYE MILLS MD 21679 520824728 631934 0 TO PROVIDE SCHOLARSHIPS AND FINANCIAL AID TO STUDENTS AND TO PROVIDE FUNDS FOR THE PURCHASES OF ASSETS. 0 0 0 0 0 0 0 0 0 DR CLIFF COPPERSMITH MEMBER/CHESAPEAKE COLLEGE 0 191253 0 0 0 0 0 0 0 29116 0 220369 0 0 KAREN SMITH VICE PRESIDENT OF ADMINIST 0 141294 0 0 0 0 0 0 0 23461 0 164755 0 0 PART I, LINE 5 THE PRESIDENT OF CHESAPEAKE COLLEGE IS A BOARD MEMBER OF THE FOUNDATION, IS PAID SOLELY BY THE COLLEGE. THE COLLEGE USES SEVERAL METHODS TO DETERMINE AN APPROPRIATE COMPENSATION PACKAGE WHICH MAY INCLUDE THE USE OF AN INDEPENDENT COMPENSATION CONSULTANT. THE CONSULTANT USES COMPARABLE DATA FROM SIMILARLY SITUATED INSTITUTIONS TO RECOMMEND COMPENSATION THAT WOULD BE WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. THE COLLEGE'S BOARD OF DIRECTORS MAKE FINAL DECISIONS ON THE PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S MANAGEMENT WILL PROVIDE THE FORM 990 TO THE FINANCE COMMITTEE FOR THEIR REVIEW. THE FORM 990 IS THEN MADE AVAILABLE TO THE WHOLE BOARD FOR REVIEW PRIOR TO IRS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF THE CHESAPEAKE COLLEGE FOUNDATION IN THE PERFORMANCE OF THEIR RESPONSIBILITIES ON BEHALF OF THE FOUNDATION DESIRE TO AVOID ANY CONFLICT OR APPEARANCE OF CONFLICT BETWEEN THE INTERESTS OF THE CHESAPEAKE COLLEGE FOUNDATION AND ANY PERSONAL INTEREST OF A BOARD MEMBER OR OFFICER. ALL BOARD MEMBERS SHALL SUBMIT ANNUALLY A WRITTEN STATEMENT TO THE BOARD PRESIDENT ACKNOWLEDGING THEIR RECEIPT OF THIS STATEMENT AND DISCLOSING ANY MATTER OR RELATIONSHIP THAT THE BOARD MEMBER BELIEVES COULD CONSTITUTE A CONFLICT OF INTEREST. ON ANY MATTER WHICH COMES BEFORE THE BOARD, A BOARD MEMBER SHALL ABSTAIN FROM VOTING IF SUCH BOARD MEMBER KNOWINGLY HAS A PERSONAL AND/OR FINANCIAL INTEREST WHETHER DIRECT OR INDIRECT. A BOARD MEMBER SHALL DISCLOSE TO THE BOARD PRESIDENT AND TO ANY APPROPRIATE BOARD COMMITTEE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST ON A PARTICULAR ISSUE BEFORE THE BOARD OR COMMITTEE. A BOARD MEMBER WHO HAS DISCLOSED A POSSIBLE CONFLICT OF INTEREST MAY BE COUNTED IN DETERMINING A QUORUM. PRIOR TO THE FINAL DISCUSSION BEFORE A VOTE IS TAKEN ON AN ISSUE, THE BOARD MEMBER WILL EXCUSE HIMSELF/HERSELF FROM THE ROOM. MINUTES OF THE MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE BOARD MEMBER DID NOT PARTICIPATE IN THE VOTING ON THE ISSUE. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CHESAPEAKE COLLEGE PO BOX 8 WYE MILLS MD 216790008 520824728 COMMUNITY COLLEGE MD GOVERNMENTAL UNIT 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 CHESAPEAKE COLLEGE INC B 631934 ACTUAL CASH PAID