C-8. RESOURCE DEVELOPMENT -- proposed replacement policy
The College shall maintain an effective, multi-faceted system of resource development in support of its mission. Resource-development agreements require Board approval if they require substantial supporting resources from College funds, are conditional on a specific benefit to the donor, or would limit a section of the College to an exclusive vendor.
The Austin Community College Foundation is recognized as a private organization that exists to further the mission of the College. The best interests of the College are thus served by providing appropriate resources and cooperation to the Foundation, on the condition that the activities of the Foundation are conducted in accord with the terms of its Memorandum of Agreement with the College, with its resources used solely to benefit the College and its students. Changes in the Memorandum of Agreement require the approval of both Boards.
An annual report shall be provided to the Board on the nature and results of College resource-development activities. This report shall include comparisons to the performance of other institutions and shall set targets for following years.
FULL TEXT OF EXISTING POLICY C-8, A.C.C. FOUNDATION
C-8. Austin Community College Foundation
Pursuant to Texas Government Code 2255.001, Austin Community College recognizes the Austin Community College Foundation ("Foundation") as a private organization that exists for the purpose of furthering the duties and educational mission of Austin Community College.
The Board of Trustees finds that the Foundation exists to support and further the educational mission of Austin Community College, and that the best interests of Austin Community College are served by providing certain resources to the Foundation, and by working cooperatively with the Foundation. The following rules shall apply to the relationship between Austin Community College and the Foundation:
- The Foundation may solicit, accept, and administer funds donated on behalf of Austin Community College and/or its students. Such funds shall be under the control and direction of the Board of Directors of the Foundation, who shall administer such funds with ordinary care and prudence, and in conformance with the Texas Public Funds Investment Act, Texas Government Code 2246.001, et. seq, as that statute may be amended or revised from time to time. Such funds shall be maintained in trust, and used solely for the benefit of Austin Community College and its students. Donated funds under the control of the Foundation shall be spent for any purpose designated by the donor that is in keeping with the lawful purposes of Austin Community College or for any legal purpose that furthers the mission of Austin Community College if no specific purpose is designated by the donor;
- Austin Community College will make available to the Foundation office space, personnel, utility and telephone service, and such other College resources as the College shall, at its sole discretion, deem to be reasonably required for the Foundation to carry out its functions for the support and benefit of Austin Community College;
- No member of the Board Directors of the Foundation shall receive payment (other than reimbursements for reasonable expenses incurred in the exercise of his or her duties as a Foundation Director) for his or her services as Director. No Trustee or employee of Austin Community College shall receive any payment from the Foundation and/or its officers, employees or Directors;
- The Foundation shall provide an annual report to the community and the Board of Trustees which summarizes its activities, including an accounting of receipts and disbursements. The College President will provide an estimate of the cost of the operating expenditures to support Foundation in a separate report.
- Two (2) members of the Board of Trustees of Austin Community College and the College President shall serve as Directors of the Foundation. The number of College Trustees and/or employees serving as Directors of the Foundation shall not exceed three (3); and
- The relationship between Austin Community College and the Foundation shall be further governed by a Memorandum of Understanding adopted by the Board of Trustees of Austin Community College and the Board of Directors of the Foundation.