Big Sandy Community and Technical College (BSCTC) is supported by the Big Sandy College Educational Foundation, Inc. (Foundation) and the legal authority and operating control are clearly defined. The incorporation of the Foundation is addressed in the KCTCS Board of Regents Policy 7.6 regarding the recognition of independent foundations [1] and in the KCTCS Administrative Policies and Procedures 7.4 [2].

The Foundation is a non-profit entity incorporated in October 2004. The Articles of Incorporation serve as evidence of the legal existence and authority of the Foundation and specifies objectives to accomplish the Foundation's purpose of promoting BSCTC [3]. The By Laws of the Foundation state that "The Big Sandy College Educational Foundation, Inc. is organized exclusively for charitable, scientific, literary, or educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended and is not for profit" [4].

KCTCS Administrative Policies and Procedures 7.6 [5] address private fund raising efforts, including fund raising through independent foundations. The Memorandum of Understanding (MOU) [6], signed October 29. 2004, establishes a formal agreement between BSCTC and the Foundation.

KCTCS Administrative Policies and Procedures 1.5.6.1 [7] list the duties of the college president, including responsibilities for the fund raising activities. The mission statement of the college [8] states that BSCTC exists to "Secure external funding to support identified needs". The Foundation exists to support the mission of the college as evidenced in the MOU [6] which states that "The Big Sandy College Educational Foundation, Inc. will assist the Big Sandy Community and Technical College in attracting the support of individuals, corporations, foundations, and organizations who desire to advance the vision, mission, and goals of the Big Sandy Community and Technical College through voluntary efforts and philanthropic financial support".

In accordance with the policies and procedures regarding independent foundations, the Foundation is audited annually by the independent auditing firm of Wells & Company, PSC [9]. The financial position of the Foundation does not affect the financial soundness of BSCTC. The membership listing of the Foundation Board of Directors [10] is evidence that the leadership of the Foundation is independent of BSCTC. Yet, both entities work cooperatively through the involvement of the BSCTC President and the BSCTC Director of Advancement. The minutes of the Foundation [11] further support that the Foundation and college operate separately, yet work cooperatively, to accomplish the mission of the college and the Foundation.

Source

Location/Special Instructions

1.

KCTCS Board of Regents Policy 7.4 - Recognition of Independent Foundations

http://www.kctcs.edu/employee/policies/volumeI/boardpolicies7-4.pdf

2.

KCTCS Administrative Policy 7.4 - Recognition of Independent Foundation

http://www.kctcs.edu/employee/policies/volumeII/volII7-4.pdf

3.

BSCEF, Inc. Articles of Incorporation

BSCEF_Amended_Articles.pdf

4.

BSCEF, Inc. By Laws

BSCEF_By_Laws.pdf

5.

KCTCS Administrative Policy 7.6 - Private Fund Raising

http://www.kctcs.edu/employee/policies/volumeII/volII7-6.pdf

6.

MOU between BSCTC and BSCEF, Inc. - October 04

BSCTC_BSCEF_Memo_of_Understanding.pdf

7.

KCTCS Administrative Policies and Procedures 1.5.6.1

http://www.kctcs.edu/employee/policies/volumeII/volII1-5.pdf

8.

Mission of BSCTC

http://www.bigsandy.kctcs.edu/administration/mission.html

9.

Evidence of audit of Foundation's financial records

3.2.2.4.9_Auditor_Letters.pdf

10.

Foundation Board of Directors

http://www.bigsandy.kctcs.edu/administration/foundation_board.html

11.

BSCEF, Inc. BOD minutes

BSCEF_BOD_Minutes.pdf