Cambridge Foundation FY20 Annual Report
Cambridge Foundation FY20 Financial Statements
Coon Rapids Foundation FY20 Annual Report
Coon Rapids Foundation FY20 Financial Statements
The Anoka Technical College Foundation, the Anoka-Ramsey Community College Foundation – Coon Rapids, and Anoka-Ramsey Community College Foundation – Cambridge takes pride in the accuracy and integrity of the fiscal management and financial reporting within all three foundations. Staff and leadership within the three foundations are assisted in its day-to-day financial work through a contractual relationship with a reputable, national CPA firm, CliftonLarsonAllen. This firm has significant expertise working with non-profits, foundations, and higher-education. It is a well-respected firm that employs more than 4,500 professionals, including more than 1,800 CPAs, and serves approximately 150,000 clients across the country.
Every three years, CPA firms are required to obtain an independent peer review of their system of quality control for their accounting and auditing practice. The most recent peer review report received by CliftonLarsonAllen expressed a rating of “pass,” which is the most positive report that can be received.
In addition, the three foundations undergo an independent financial statement audit once every three years. During the off years, each foundation undergoes an independent financial statement review by a well-established and reputable CPA firm, BerganKDV. BerganKDV has more than 60 years of experience working with the nonprofit community. In the most recent independent financial statement audits for Anoka Technical College Foundation and Anoka-Ramsey Community College – Cambridge Foundation, the auditors have expressed an “unmodified” opinion. Simply, an “unmodified” opinion is a clean opinion stating the financial statements are presented, in all material respects, in accordance with the applicable financial reporting framework. The independent financial statement audit for Coon Rapids is scheduled for this year. We expect an “unmodified” opinion at the end of this audit as well.