State Allocation and Foundation Duly Funded Projects

Policy

The College and the Foundation will have continuous and on-going communication when they are jointly involved in funding a major College project.

Purpose

The purpose of this policy is to establish a communication tool to assist both the College and the TCC foundation when working together on a jointly funded project.

To Whom Does This Policy Apply

This policy applies to the College:  specifically the President, Vice President of Administrative Services and the lead staff for the applicable project.  A referenced policy of the TCC Foundation would apply to the Foundation Executive Director, the Foundation Board Executive Committee and other applicable Foundation staff.

References

 

None

Definitions

College refers to Tacoma Community College

Foundation refers to TCC Foundation

Procedure

1. The Foundation will provide a monthly report to the College President, Foundation Executive Committee, Vice President of Administrative Services and the Dean of the appropriate area showing:
   1. Requests for funding by the Foundation with date requested.
   2. Conversion of requests to pledges and pledge duration.
   3. Conversion of pledge to cash.
   4. Cash transferred to the College.
   5. Cash conversion dollars used by the Foundation.
2. Quarterly meetings set by Foundation staff will be established with the above group or designates until the completion of the project to cover:
   1. Update of funding status.
   2. Update of project status.
   3. Plans for future fund raising if needed.
   4. Discussion of other options.