Board Policy A-105.01
Board of Trustees Process
- The Board of Trustees of Northwestern Michigan College (NMC) shall direct all unsolicited gifts of private property, devise, or bequest to the Northwestern Michigan College Foundation (Foundation), which has been formed solely to receive gifts and administer funds for the benefit of NMC.
- Such direction shall not be considered as a recommendation to accept gifts. Presentation of gifts, bequests, memorials, awards, property, or scholarships shall be accepted at the discretion of the Foundation and recognized and approved by the Board of Directors of the Foundation, and shall be subject to the current Foundation Gift Acceptance Policies and Procedures, as may be amended from time to time, and the applicable laws and regulations governing §501(c)(3) organizations. Such recognition and approval shall in no case be considered an endorsement of a particular product, service or business.
- The Board of Trustees shall exercise appropriate control with respect to directed gifts to the Foundation by establishing the following procedures:
- It is expected that the Foundation will consult with NMC officials regarding the acceptability of tangible property or real property in advance of accepting those items. “Tangible property” and “real property” shall include, but not be limited to the following items: land, works of art, supplies, and equipment.
- The President and the Vice President for Institutional Advancement may tentatively accept contributions subject to the final approval of the Foundation’s Board of Directors at its next meeting.
- Acceptance by the Foundation of equipment or services that may require institutional support which involves, but may not be limited to, operating budget expenses or capital investment or other expenses (whether initial or continued) shall be presented to the President’s Office for consideration and approval by the Board of Trustees prior to acceptance by the Foundation.
- All contributions to the Foundation of tangible property, excluding gifts of real property which, by attribute, shall be sold, conveyed, or otherwise disposed of in order to convert to cash as soon as possible, will ultimately become the property of NMC and subject to the same controls and regulations that govern the use of property owned by NMC.
- Attached to this policy is a copy of the current Foundation Gift Acceptance Policy. In the event that a gift, bequest, or devise is not directed to the Foundation, the procedures incorporated in the attached policy, as may be amended by the Foundation from time to time, shall govern the actions of the Board of Trustees, and the Vice President for Institutional Advancement shall consult with the Foundation’s Board of Directors as appropriate for recommendations to be made to the Board of Trustees.
Adopted by the Northwestern Michigan College Board of Trustees November 19, 2007
Revised July 26, 2010