Policy No. 4:01:04:00
CLEVELAND STATE COMMUNITY COLLEGE, Cleveland, Tennessee
SUBJECT: Fund Raising and Solicitation and Acceptance of Gifts Policy Revision
REFERENCE: CSCC Policy 4:01:04:00; Fund Raising and Solicitation and Acceptance of Gifts
The purpose of this policy is to establish responsibilities and procedures regarding fund raising and the solicitation and acceptance of gifts to Cleveland State Community College.
The vital importance of gifts to institutional development is recognized by the Tennessee Board of Regents and Cleveland State Community College. Gifts of real and personal property from individuals and organizations often benefit institutions by making possible the accomplishment of objectives for which support from other sources is limited or unavailable. Gifts also often represent a means by which the donor may contribute to an aspect of postsecondary education that is of particular interest to the donor.
Institutions are authorized and encouraged by the Board to solicit and accept gifts for purposes that are consistent with their missions. All activities related to the solicitation and acceptance of gifts shall be implemented in a manner which serves the mutual interests of the donors and Cleveland State Community College.
- External solicitation for funds to support any program or activity related to Cleveland State Community College must be coordinated through the Director of Institutional Advancement and must be approved by the President of the College. Such requests must be made at least thirty days prior to the projected fund raising activity.
- Internal solicitation for funds on campus or fund raising activities must be approved by the Vice President for Student Services and the President and comply with all requirements of Paragraph III of State Board of Regents Policy No. 3:02:02:00. Cleveland State Community College Form #AD 2128 Request For Fund Raising Activity must be utilized for all fund raising requests.
Solicitation of Gifts
- Appropriate activities will include any event or solicitations which are not in violation of local, state or federal law; Tennessee Board of Regents policy; and are appropriate under general community standards.
- External solicitation must be coordinated through the Director of Institutional Advancement and must be approved by the President of the College. Such requests must be made at least thirty days prior to the projected fund raising activity.
- Internal solicitation must be approved by the Vice President for Student Services and the President and comply with all requirements of Paragraph III of State Board of Regents Policy No. 3:02:02:00.
- Solicitation of gifts which may require a commitment of institutional resources must be approved by the president.
Acceptance of Gifts
The president is authorized to accept gifts on behalf of Cleveland State, subject to the following conditions:
- Only the Board of Regents may accept a gift if Board acceptance is a condition set by the donor.
- Only the Chancellor and Board may accept gifts of real property or any permanent interest in real property, and title must be conveyed in the name of the Board of Regents of the State University and Community College System of Tennessee for use and benefit of Cleveland State Community College.
- Any acquisition of real property by gift or devise which obligates Cleveland State Community College, The Tennessee Board of Regents, or the State of Tennessee to expend State of Tennessee funds for capital improvements or continuing operating expenditures shall be approved by the State Building Commission in accordance with TCA 4-15-102(d)(2) prior to acceptance by the Chancellor and Board. Any such Deed transferring title to the Board of Regents shall not be recorded until the State Building Commission has approved the acceptance of the gift property.
- Gifts with conditions that ultimately will require consideration by the Board or Chancellor must be approved by the Chancellor prior to acceptance (e.g., gifts to support the initiation of a new academic program or capital improvement project).
- Gifts of property subject to an indebtedness must be approved by the Chancellor prior to acceptance.
- The president recommends approval by the Chancellor or Board prior to acceptance of any gift.
- Corporate stock given to Cleveland State may be sold by the institution through or in consultation with a registered security broker within sixty days of receipt of the stock certificate, and the sale may be executed by the president or a designated representative.
- The president is responsible for acknowledging acceptance of gifts and for ensuring compliance with regulations and conditions set by the donors.
- The president is authorized to accept gifts on behalf of Cleveland State, subject to the following conditions:
Records and Reporting
- Once a desire to donate a gift to Cleveland State Community College has been expressed, a copy of the letter of intent from the donor must be provided to the Office for Finance & Advancement.
- Office for Finance & Advancement will forward a copy of the letter to the Director of Institutional Advancement who will prepare a letter of acceptance for the President’s signature.
- Based on accepted accounting procedures to allow a proper audit trail, the Office for Finance & Advancement will determine if it is necessary to acquire an estimate on the value of the gift by an independent impartial third party and will maintain adequate records of all gifts.
- Gifts which are capital items will be placed on the inventory.
- A summary of all gifts to the institution during a fiscal year shall be included in the institution’s annual report to the Board, as required by Board Policy No. 1:02:10:00, Annual Reports.
For purposes of distinguishing institutional gifts and related procedures from those of foundations established pursuant to Board Policy (No. 4:01:07:02, Foundations):
- Cleveland State Community College does not accept gifts specifically intended for the Foundation. Gifts specifically intended for the Foundation are accepted by the Foundation.
- In general, institutional resources are not used to meet conditions of gifts to the Foundation; however, exceptions may be approved by the President or the Chancellor in accordance with the provisions of this policy and TBR Policy No. 4:01:04:00 on acceptance of gifts.
- Records of gifts to the institution are maintained by the Office for Finance & Advancement, and gifts to the Foundation are maintained by the Office of Institutional Advancement.
- Gifts to the Foundation are reported in the summary of gifts during a fiscal year in the annual report, as provided in this policy.
Source: TBR Policy No. 4:01:04:00
Related: TBR Board Policy No. 3:02:02:00
Revised: January 1, 1993; March 11, 1994
Internal Review & Approval: President’s Cabinet, October 9, 2012