|
COMPREHENSIVE STANDARD CS M14:
An 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.
| X |
Compliance |
| o |
Partial Compliance |
| o |
Non-Compliance |
The Collin County Community College Foundation, Inc., (CCCCDF)
was formally incorporated as a non-profit organization under
Section 501 (C) (3) of the Internal Revenue Code in 1987.
A “Letter of Understanding” between the Collin County Community
College District (CCCCD) and the CCCCDF, authorized and
established on November 21, 1989, serves as a contractual
agreement describing the relationship between the institution
and the foundation (Reference 1). This
document states that the CCCCDF functions as an independent
agency, separate and apart from the operations of the District.
The CCCCDF is governed by an independent Board of
Directors and, as authorized through the Texas Government
Code and Texas Education Code (Reference 2),
has been charged with the rights and responsibilities of
assisting the District with the solicitation and management
of external resources. All assets administered by the CCCCDF
are utilized exclusively for the benefit of the District and
for fostering the mission of the District.
CCCCD also has a contractual agreement with the CCCCDF
Student Housing Foundation, Inc., for the lease of 5.3 acres
of land located on the Spring Creek Campus (Reference
3). This property is the site of College Place Apartments,
owned by the CCCCD Student Housing Foundation, Inc., for
the sole purpose of providing CCCCD students with convenient
housing. The CCCCDF Student Housing Foundation, Inc., is
a separate, 501 (C) (3) non profit organization subsidiary
of the CCCCDF.
Supporting Documents:
|
