| 3.2.13 |
Any institution-related foundation not controlled by the institution has a contractual or other formal agreement that (a) accurately describes the relationship between the institution and the foundation, and (b) describes any liability associated with that relationship. In all cases, the institution ensures that the relationship is consistent with its mission. (Institution-Related Foundation)
X Compliance Partial Compliance Non-Compliance
Narrative: While the Orangeburg-Calhoun Technical College Foundation is a 501c(3) corporation and operates as a separate entity, its primary mission is to further the educational mission of the College. The Foundation meets regularly on campus with the President attending meetings. The College provides a staff member as liaison who assists the Foundation logistically. The Foundation has its own mission statement and strategic plan and is audited annually by an external certified public accounting firm. The College and the Foundation have a formal cooperative agreement defining their relationship.
A review of the last three years of Foundation Board minutes will provide evidence of the Foundation’s support of the College’s mission.
- Articles III and VI of the Orangeburg-Calhoun Technical College Foundation Bylaws describe the liabilities and indemnifications of the Foundation Board of Directors. Under state law, an incorporated agency, such as the Foundation, is separately liable for its own activities. As stated in the Article VI F, the Board has the authority to “sue and be sued, complain and defend in its corporate name .”
Evidence of Support: |
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