| Narrative: |
The
Southwestern Community College Foundation is a 501 (c)
(3) corporation and is separate from the College with
its own board, by-laws, and articles of incorporation
(1, 2,
& 3).
In accordance with its bylaws, the Foundation Board
is comprised of twenty-six members, which include three
employees of Southwestern Community College: the president,
the chief financial officer (vice president for Administrative
Services), and the chief development officer (vice president
for Macon Campus and Institutional Advancement). The
chief development officer serves as secretary to the
Foundation Board, and the chief financial officer serves
as the treasurer. Additionally, the executive director
of the Foundation is also employed by the College.
There
is a formal agreement (Memorandum of Understanding)
between the Foundation and the College which clearly
describes the relationship between both entities (4).
In this agreement, the Foundation specifies its intention
to maintain an identify separate from the College while
working only to serve the interests of the College:
| The
Foundation agrees that it will solicit, receive,
hold, invest, manage, use, dispose of, and administer
its property and assets, together with whatever
property or assets may be transferred to the Foundation
by the College or others, for the benefit of the
College and for the educational support activities
that may be conducted by the College (4).
|
The
Memorandum of Understanding between the College and
Foundation also addresses liability associated the relationship:
| The
Foundation will provide to the College fund raising
management, financial management of Foundation accounts,
Foundation scholarship administration, and overall
management of Foundation assets. The Foundation
will be solely responsible for the satisfaction
of its own obligations, debts, liabilities and judgments.
The Foundation will not use funds belonging to the
College, and managed by the Foundation on its behalf,
to satisfy any such obligation, debt, liability,
or judgment (4). |
As
described in its mission statement (5),
the Foundation’s purpose is to “support,
strengthen, and further the mission of Southwestern
Community College (6).”
The Foundation supports the College programs and allows
the College to expand educational opportunities for
students. Consistent with its mission, the Foundation
may provide:
| • |
Financial
assistance to support student scholarships |
| • |
Learning
resource and instructional materials and equipment
|
| • |
Opportunities
for employee development |
| • |
Facilities
renovation and capital improvements’ |
The Foundation raises funds from the private sector
to meet its funding objectives (7).
For example, the New Century Scholars program is a joint
effort between the Foundation, Jackson, Macon, and Swain
County public schools and the College to provide scholarships
to students on the basis of citizenship and leadership
qualities. Each public school selects students to participate
in the program until graduation from high school, at
which time the student can receive full tuition for
two years at Southwestern Community College.
In
addition to scholarships, the Foundation has also provided
equipment for curriculum programs, curriculum start-up
costs, and faculty and staff professional development
funds to assist the College in meeting its mission.
During fiscal year 2004-2005, the Foundation contributed
$230,118 to the College for restricted and unrestricted
purposes.
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Compliance
Partial
Compliance