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POLICY 08:14:00

FOUNDATION

See Tennessee Board of Regents Policy 4:01:07:02 Foundations and Tennessee Board of Regents Policy 4:01:04:00 Solicitation and Acceptance of Gifts.

Introduction
The Pellissippi State Community College Foundation is a not-for-profit, tax-exempt 501(c)(3) corporation which exists solely to support and advance the objectives of the College. The Foundation was chartered by the state of Tennessee in 1982, and the Foundation gained tax-exempt status in 1983. The Foundation is a nonprofit entity legally separate from Pellissippi State Community College. Funds raised by the Foundation support student scholarships, equipment needs, capital projects, renovations and new initiatives at our campus locations in Knox and Blount County.

Purpose
The intention of Policy 08:14:00 is to define the purpose, governance and relationship of the Foundation to the College.

  1. Mission, Vision and Values of the Foundation
    1. MissionThe Pellissippi State Foundation exists to develop financial resources through fundraising and development of a benefactor network to support the educational, cultural and service goals of Pellissippi State Community College. The Foundation will provide sound financial stewardship of the funds entrusted in its care. The Foundation endeavors to increase and enhance quality education and training opportunities for students, staff and administration.

      The Pellissippi State Foundation will assist the College in raising its public awareness and provide funding to promote opportunities for enrichment and cultural advancement for the communities it serves.

    2. VisionThe Pellissippi State Community College Foundation, in common purpose with the College, will provide resources ensuring a quality educational experience so that today’s students and those of tomorrow achieve their aspirations, goals and potential.
    3. Values:
      • Seek reliable and responsible in ways that earn the trust of our donors, students and community.
      • Cultivate and provide financial resources for the advancement of students, staff and administration of the College
      • Invest and safeguard the funds entrusted to us, reflecting the intentions of our donors, and meeting the needs of the students and the College.
      • Advocate and raise awareness of the College and the needs/achievements of its students and employees throughout our greater community
      • Seek creative and innovative ways to advance the Mission and Vision of Pellissippi State and the Foundation.
      • Support the College’s values of accountability, community and civic engagement, diversity, equity and inclusion, excellence, integrity and relationships.
      • Foster connections between the College and employers to support workforce development needs
  2. Organization of the Foundation
    1. The Foundation is governed by a volunteer Board of Trustees. A current list of Board Members is maintained in the Foundation office on the Hardin Valley Campus of the College and on the Foundation’s website at http://www.pstcc.edu/foundation.
    2. 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 in the Foundation Office and on the Foundation’s website
    3. The relationship between the College and the Foundation is clearly defined in a formal agreement approved by the president of the College, the Tennessee Board of Regents (TBR) and the Foundation Board Chair. This agreement clearly defines the legal authority and operating control of the College with respect to the Foundation and describes the relationship of the Foundation to the College and the extent of any liability arising out of that relationship and demonstrates that the fund-raising activities of the Foundation further the mission of the institution.
    4. To ensure an appropriate level of college participation in foundation governance, the College president holds a voting membership on the Foundation’s board. In order to assure its independent status from the College, the Foundation Board of Trustees shall not consist of a majority of members employed by the institution that may establish a quorum.
    5. The management and investment of contributions to the Foundation are subject to the requirements of the Uniform Prudent Management of Institutional Funds Act, T.C.A. Title 35, Chapter 10, Part 2.
    6. In accordance with T.C.A. 49-7-107 (c), the Board established and adopted a code of ethics and conflict of interest policy that applies to and governs the conduct of all members of the Foundation Board of Trustees.
  3. Objectives of the Foundation
    1. To provide for student financial assistance through scholarships, awards, and emergency loans and support.
    2. To seek grants in support of the College’s Strategic Plan. .
    3. To support academic, technical, or other programs that benefit Pellissippi State.
    4. To establish and support recognition programs for students and employees, including faculty, and to support professional development activities for faculty, staff, and administrators.
    5. To participate in public relations and fundraising projects and events that benefit Pellissippi State.
    6. To provide financial support for capital projects, improvements, and purchases of equipment.
    7. To support programs and events at the College that provide opportunities for life enrichment and cultural advancement for members of the community.
    8. To organize and support an Alumni Association.
    9. To cooperate with and aid any corporation, society, or association organized for the benefit of the College.
    10. To accomplish any other purpose not inconsistent with the Charter or the aforementioned objectives.
    11. To support the College’s mission and values and conduct all business through the lens of diversity, equity and inclusion.
  4. Allocation of Foundation Funds
    Solicitation and disbursement of funds for the Foundation shall be overseen by the executive director of the Foundation, under the direction of the Foundation’s executive committee. Investment of funds shall be made by the Executive Director of the Foundation as recommended by the Foundation’s finance and executive committee.
    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:

    1. Scholarships
      The Pellissippi State Foundation administers a scholarship program on behalf of the College. It is the practice of the Foundation to treat all candidates for scholarships with dignity and respect and to provide opportunity to all persons without regard to race, color, religion, creed, ethnicity or national origin, sex, sexual orientation, gender identity/expression, disability, age, status as a protective veteran, genetic information, or any other class protected by Federal or State laws. In order to distribute scholarships in an equitable fashion for students demonstrating financial need, a minimum GPA of 2.0 will be suggested in the scholarship agreement process with donors.
      Private scholarships are available. The criteria, guidelines, and awarding/selection processes for these scholarships vary. Copies of guidelines and procedures for the various private scholarships are available on the Foundation’s website.
    2. Student Emergency Loans and Emergency Support
      A very limited amount of money is available to students who face emergency situations that would force them to drop out of college. Emergency loans must be paid back within the semester and are processed in the Financial Aid office. Candidates for emergency loans may be students with pending financial aid with an immediate need for funding. Other funds exist in the Foundation that support student financial crisis that are provided with no expectation of payback. Students qualifying for these funds demonstrate financial need that indicates that repayment would not be possible.
    3. Faculty/Staff Awards
      Awards are made to faculty and staff using criteria from the Employee Recognition Committee. The Foundation Board of Trustees chooses the recipients of the Gene Joyce Visionary Award and the Innovations Award. The financial awards for the Roger Crowe Excellence in Teaching Award and the Staff Excellence Award may be provided to the College’s faculty and staff selection for the state-wide Tennessee Board of Regents SOAR awards or selected by the Board of Trustees. Additional awards may be established to support outstanding employee achievement and longevity.
    4. Areas of Greatest Need
      Unrestricted funds are allocated by the Foundation Board and the college president to meet the greatest needs of the College.
    5. No institutional funds, including contributions to the institution, may be transferred directly or indirectly to the Foundation. Advance approval of the TBR chancellor is required if payments are made to or for the benefit of the president if the value exceeds one thousand dollars ($1,000). This provision excludes reimbursement of business expenses.
  5. Contributions and Fundraising Activities
    1. 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 TBR Policy 4:01:01:10 Deposit and Investment of Funds.
    2. Non-cash gifts of equipment and supplies, services, and other in-kind gifts are accepted in accordance with the TBR regulations. Such gifts must be approved for acceptance by the executive director of the Foundation. Forms may be found on the Foundation website.
      Prospective donors and college employees from the department designated to receive a gift must complete and sign an In-Kind Gift Report, which is available in 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 a gift to be transferred to the College is subject to the approval of the president.
    3. 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.
      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 solicitations 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. Fundraising by students must be consistent with the College’s mission and comply with policies and procedures. Such activities must not compete with or jeopardize fundraising efforts that secure resources according to the strategic plan of the Foundation and the College. Clubs are not considered qualified charitable organizations by the IRS eligible to receive tax deductible contributions.
      All Foundation grant proposals are coordinated through the grants office and approved by the executive director of the Foundation. College personnel shall not submit grant proposals or online applications requiring 501(3)(c) status without following the guidelines established in Policy 08-16-00 Grant Development.
      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 TBR, which includes a comparison of fundraising at TBR colleges.

For further information on policies and donations, and for the forms mentioned above, please call the Foundation office at 865-694-6525 or see the Pellissippi State Foundation Website.

Approved: Executive Council, March 4, 1991
Approved: Executive Council, June 8, 1992
Reviewed/Recommended: President’s Council, April 10, 1995
Approved: President Allen G. Edwards, April 10, 1995
Approved: President Allen G. Edwards, October 10, 2001
Approved: President Allen G. Edwards, December 3, 2001
Approved: President Allen G. Edwards, July 26, 2004
Editorial Changes, April 30, 2009, July 1, 2009
Reviewed/Recommended: President’s Council, September 26, 2016
Approved: President L. Anthony Wise, Jr., September 26, 2016
Reviewed/Recommended: President’s Council. September 27, 2021
Approved: President L. Anthony Wise Jr., September 27, 2021