9-01 The Valencia College Foundation, Inc.

Body

POLICY: 6Hx28:9-01
Responsible Official: President and CEO, Valencia Foundation
Specific Authority: 1001.61-65, 1004.70, F.S.
Law Implemented: 1001.61-65, 1004.70, F.S.
Effective Date: 12-10-2002

 

Policy Statement:

 

  1. All official fundraising activities of Valencia College, excluding on campus student solicitations conducted subject to College policy and resource development activities such as institutional grants, shall be conducted by and/or through The Valencia College Foundation, Inc. Pursuant to law, the Valencia College District Board of Trustees shall certify annually that the Valencia College Foundation, Inc., a not-for-profit Florida corporation, is a direct-support organization operating in a manner consistent with the goals, vision, values, mission, and statutory purpose of Valencia College and in the best interests of the state. If the Valencia College Foundation, Inc. is denied certification by the District Board of Trustees it may not use the name of Valencia College.

     

  2. At the organizational meeting of the District Board of Trustees each July, the Chair shall appoint a trustee representative (s) to the Board of Directors and the executive committee of The Valencia College Foundation, Inc. The President, or the President's designee, shall also serve on the District Board of Trustees of directors and the executive committee of the Foundation.

     

  3. The President of Valencia College is authorized to implement procedures and guidelines appropriate to allow the Foundation the use of college property, facilities, and human resource services subject to the provisions of law.

     

  4. The Articles of Incorporation of the Valencia College Foundation, Inc., shall specify that the President of Valencia College and a representative(s) of the District Board of Trustees of Valencia College shall at all times be members of the Foundation’s Board of Directors. The Foundation shall make provisions for an annual post audit of its financial accounts to be conducted by an independent certified public accountant in accordance with rules

promulgated by the District Board of Trustees. The annual report shall be submitted for review to the District Board of Trustees and the Auditor General of the State of Florida. The District Board of Trustees and the Auditor General shall have the authority to require and receive from the Foundation or from its independent auditor any detail or supplemental data relative to the operation of the organization. The identity of donors who desire to remain anonymous shall be protected, and that anonymity shall be maintained in the auditor's report. All records of the Foundation, other than the information necessary for the annual report required by Section 240.311(3)(h) 6., Florida Statutes, and the auditor's report and supplemental data requested by the District Board of Trustees and the Auditor General, shall be confidential and exempt from the provisions of Section 119.07(1) Florida Statutes.

Procedures:

 

None

Related Documents/Policies:

None

Policy History:

Adopted 12-11-74; Amended 12-15-82; Formerly 6Hx28:4-24; Formerly 6Hx28:4-08; Amended 11-18-92; Replaced Policies 6Hx28:01-00, 6Hx28:02-00, 6Hx28:02-01, 6Hx28:02-02,

6Hx28:02-03, 6Hx28:02-05, 6Hx28:04-01 and 6H28:04-02; Amended 11-20-01; Amended 12-

10-02; Formerly 6Hx28:01-11

Details

Details

Article ID: 151739
Created
Mon 5/22/23 10:54 AM
Modified
Mon 5/22/23 10:54 AM