FOUNDATION
The Pellissippi
State Foundation is a not-for-profit, tax-exempt 501 (c)(3)
corporation chartered in
I.
A. The Foundation exists to
maintain and enhance the quality of life in
B. The Foundation will assist the entire
College in promoting excellence by securing financial support for special
educational and cultural activities that are in addition to the ongoing
operational expenses for the College.
II. Organization of the
Foundation
A. The Foundation is governed by a volunteer
Board of Trustees. A current list of Board Members is maintained in the
Foundation Office on the Pellissippi Parkway Campus
of the College and on the Foundation’s website at http://www.pstcc.edu/foundation.
B. As a separate legal entity, the Foundation maintains an identity separate from the College. The Foundation’s Restated Charter, Restated Bylaws, and the Policies and Procedures of the Foundation’s Board of Trustees are available through the Foundation Office.
III. Objectives of the Foundation
A. To provide for student financial assistance through scholarships and emergency loans.
B. To fund grants in support of teaching and to fund grants for educational programs.
C. To support academic, technical, or other
programs that benefit
D. To establish and support recognition programs
for students and employees, including faculty, and to support
professional development activities for faculty, staff, and administrators.
E. To participate in public relations
and fundraising projects and events that benefit
F. To finance capital projects,
improvements, and purchases of equipment.
G. To support programs and performances at
the College to provide opportunities for life enrichment and cultural
advancement for members of the community.
H. To organize and support an Alumni Association.
I. To cooperate with and aid any corporation, society, or association organized for the benefit of the College.
J.
To accomplish any other purpose not inconsistent with the Charter or the
aforementioned objectives.
IV. Allocation of Foundation Funds
Gifts to the Pellissippi State Foundation fall into two broad categories: 1) restricted and 2) non-restricted (or “area of greatest need”). All restricted monies are distributed according to the donor's intent and guidelines. Gifts to the “Greatest Need Fund” for unrestricted monies help the College respond to its most pressing needs at any given time. Examples of funds and how they are used include, but are not limited to the following:
A. Scholarship Funds
Private scholarships are available. The criteria, guidelines, and the awarding/selection processes for these scholarships vary. Copies of guidelines and procedures for the various private scholarships are available from the Foundation Office and on the Web.
B. Student Emergency Loans
A very limited amount of money is available to students who, without this assistance, would be forced to drop out of college. This is a loan, and it must be paid back within the semester. Emergency loans are processed in the Financial Aid office.
C. Faculty/Staff Awards
Awards are made to faculty and staff each spring using criteria from the Employee Development Committee. The Foundation Board of Trustees chooses the recipients of three of the awards—the Gene Joyce Visionary Award, the Innovations Award, and The Excellence in Teaching Award—from finalists selected by faculty and staff.
D. Areas of Greatest Need
Unrestricted funds are allocated by the Foundation Board and the president to meet the greatest needs of the College.
College departments and divisions requesting funds from the Pellissippi State Foundation must complete a Funding Request form and submit it to the Executive Director of the Foundation three weeks prior to the payable funding date. The Funding Request form is available from the Foundation Office or on its Website.
V. Contributions and Fundraising Activities
A. Cash contributions are solicited through various campaigns. Both internal and external donors are targeted. All funds are deposited in the appropriate accounts and in accordance with the policies and procedures of the College's Business and Finance Office and with Tennessee Board of Regents Policy 4:01:01:10, “Deposit and Investment of Funds.”
B.Non-cash gifts of equipment and supplies,
services, and other in-kind gifts are accepted in accordance with the Tennessee
Board of Regents regulations.
The gift must be approved for acceptance by the Executive Director of the Foundation.
Prospective donors and College employees from the department designated to receive the gift must complete and sign an In-Kind Gift Report, which is available from the Foundation Office or on the Foundation’s Website. Neither the Foundation Office nor the College places a value on the equipment. It is the responsibility of the donor to establish a value for donated equipment and/or services. The acceptance of all gifts is subject to confirmation by the President.
C. All gifts requiring institutional support (such as staff, financial assistance, storage, etc.) shall be approved either by the President or by the Chancellor, as applicable according to TBR policy.
D. It is the
responsibility of the Executive Committee of the Board of Trustees of the
Foundation, in consultation with the Executive Director of the Foundation, to
coordinate all Foundation fundraising programs and solicitation of funds to
support the College.
Faculty, staff,
and sponsors of student organizations who intend to solicit funds or undertake
fundraising activities must submit a written request to the Executive Director
of the Foundation prior to conducting these activities. This is to maximize the College's efforts in soliciting
and securing donations. The
Request for Fundraising Activity form is available from the Foundation Office
or on the Foundation’s Website.
E. The Executive Director of the Foundation shall be notified in advance by the appropriate College department or division of the submission to corporations or other foundations of all proposals that would involve the Foundation.
F. Evaluation of the Foundation and Fundraising
Evaluation of the Foundation is conducted by various means, including, but not limited to, the following:
1. Performance Review of personnel
2. Strategic Plan goal attainment
3. Performance Funding goal attainment
4. Surveys of donors, scholarship recipients, alumni, and Foundation Board members
5.
The annual
“Report Card” compiled by the
For further information on policies and donations, and for the forms mentioned above, please call the Foundation Office at 865-694-6528 or see the Pellissippi State Foundation.
Approved: Executive Council,
Approved: Executive Council,
Reviewed/Recommended: President's
Council,
Approved: President Allen G. Edwards,
Approved: President Allen G. Edwards,
Approved: President Allen G. Edwards,
Approved:
President Allen G. Edwards,