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3.2.2 The legal authority and operating control of the institution are clearly defined for the following areas within the institution’s governance structure: (Governing board control)
3.2.2.4 related foundations (athletic, research, etc.) and other corporate entities whose primary purpose is to support the institution and/or its programs
✔ Compliance Partial
Compliance Non-Compliance
Summary
Fayetteville Technical Community College (FTCC) is in compliance with this comprehensive standard. FTCC demonstrates compliance with this standard since the legal authority and operating control of the college’s foundation are clearly defined.
Narrative
North Carolina General Statute § 115D-20(9) authorizes each North Carolina Community College Board of Trustees to encourage the establishment and operation of a private, nonprofit organization whose sole mission is to support their college. The statute authorizes the trustees to assist with the establishment and operation of the private, nonprofit corporation through the provision of employees, office space, office supplies, and other related resources.
In 1985, the Board of Trustees of Fayetteville Technical Community College incorporated a private, nonprofit organization to support the work of the College. The Fayetteville Technical Community College Foundation, Inc., was established as a corporate entity distinct and separate from the Board of Trustees of FTCC. It was confirmed as a 501(c)(3) nonprofit organization in 1988 and is the only private, nonprofit entity associated with the College.
The Foundation is governed by its own Bylaws and Board of Directors. The Foundation Board of Directors (not the FTCC Board of Trustees) enjoy ultimate responsibility for the operation of the Foundation. Although the Foundation Bylaws provide that the chair of the Board of Trustees and one other trustee serve on the Foundation Board of Directors, these two members do not constitute a majority of the Foundation’s membership; thus, these members do not control the Foundation, as noted by Foundation Board minutes for 2008.
State law N.C.G.S. § 115D-20(9) requires the financial soundness of the Foundation. The Office of the State Auditor or an independent organization audit the financial accounts of the Foundation on an annual basis. The results of the financial audit are reviewed and accepted annually by the Foundation Board of Directors and the FTCC Board of Trustees.
The Mission Statement of the Foundation is congruent with the Mission Statement of FTCC to “Serve our community as a learning-centered institution to build a globally competitive workforce supporting economic development.”
Supporting Documentation
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2201 Hull Road, Fayetteville,
NC 28303
(910) 678.8400 |