Learning College Manual
Governance of the College
Solicitation and Acceptance of Funds or Gifts
The purpose of this policy is to establish responsibilities and procedures regarding the solicitation and acceptance of gifts to Isothermal Community College, and the coordination of the receipt of gifts and fundraising with the nonprofit Alumni Association, and other nonprofit Foundations that solicit gifts on behalf of the College.
The following provisions will govern all solicitations and acceptance of gifts on behalf of the College.
Solicitation of Gifts
As the Chief Administration Officer of the College, it is the responsibility of the President to approve and conduct activities for the purpose of soliciting and accepting gifts for the College. Faculty and staff are encouraged to solicit on behalf of the College; however, to avoid duplication and ensure a broad range of support, all efforts should be coordinated through the President prior to making contact with the prospective donor(s). All solicitations must be approved by the President to avoid multiple solicitations being sent to an individual during the same time period.
Solicitations of gifts which may require a commitment of College resources must be approved by the President.
Acceptance of Gifts
The following provisions will govern the acceptance of gifts by the College:
- All gifts must be approved by the President of the College.
- Monetary gifts will be accepted as follows:
- Acceptance of monetary gifts to the College is delegated to the President
- Corporate stock given to the College can be sold by the College through or in consultation with a registered security broker within sixty (60) days of receipt of the stock certificate, and the sale will be executed by the President. If the stock is held longer than sixty (60) days after the receipt of the stock certificate, its sale is subject to approval by the President or a designated representative or committee.
- The President will notify the Equipment Coordinator of all gifts of equipment.
Records and Reporting
Adequate reports of all gifts shall be maintained as indicated.
- The President will maintain a master file for all contributions received by the College.
- All contributions received by the Business Office will be receipted and deposited. A copy of the check, receipt and any correspondence with the contribution will be forwarded to the President.
- The College will coordinate with the Alumni Association and nonprofit Foundations regarding contributions made to those entities for the benefit of the College and the use of those contributions. Also, the college will work with these entities regarding the reporting of contributions made.
- The President is responsible for preparing a report to the Board of Trustees of all gifts to the College. The report will be submitted quarterly as prescribed by the President.
Isothermal Community College recognizes the vital importance if external funds for the College. Faculty and staff members who wish to apply for federal, state or private grants are encouraged to do so, but must coordinate their plans through the Director of Grant Writing and must receive approval from the President.
A copy of all grants submitted by the College will be filed in the office of the Director of Grant Writing. Grants funds received must be expended according to grant terms as set forth by federal, state and/or private sources. All grant awards must be reported by the President to the Board of Trustees.
Policy No: 201-03-01BP
Combined Policy History: Federal and Other Grants - April 1965; May 1984; November 1986; November 1987; November 1989; August 2005
Adopted: April 1965
Amended: May 1984; November 1986; November 1987; November 1989; July 1993; August 2005; May 24, 2011; September 30, 2014