Policies & Procedures Manual

92

Policy No: 305.2

Policy Contact: President

Policy Title: EAST CENTRAL COMMUNITY COLLEGE FOUNDATION, INC., FUND-RAISING

The East Central Community College Foundation serves as the official body to receive gifts, donations, or contributions to the College. The Foundation receives by gift, bequest, devise, grant, purchase, lease, or otherwise any real or personal property donated to the College. The Foundation provides ECCC with funds with which to acquire or purchase real or personal property as approved by the College’s Board of Trustees. The Foundation assists as a source of funding to provide quality instruction and provides funds to carry on approved activities at ECCC. It engages in any lawful fund-raising activity that may be incidental or reasonably necessary to carry out ECCC’s purpose. In addition, the Foundation makes investments in accordance with the provisions of state law. The College assures through the Board of Trustees that the Foundation complies with all applicable state and federal laws and regulations. The Foundation invests and reinvests and disposes of gifts for the purpose of providing students with funds to pursue their collegiate training at ECCC. A Foundation audit is secured on an annual basis by an independent auditor or auditing firm employing Generally Accepted Auditing Standards. The results of such audits are presented to each applicable board as a part of an official meeting. The Foundation Board takes any necessary steps required to assure the operation of the Foundation in a manner that best serves contributors and the public. The investment policy of the Foundation is evaluated on an annual basis by the Foundation Board.

(Reviewed 8/9/16)