3.2.13  

Any institution-related foundation not controlled by the institution has a contractual or other formal agreement that (a) accurately describes the relationship between the institution and the foundation, and (b) describes any liability associated with that relationship. In all cases, the institution ensures that the relationship is consistent with its mission.

RATIONALE FOR COMPLIANCE JUDGMENT

The Nashville State Community College Foundation is a not-for-profit organization that exists solely for the support and benefit of Nashville State Technical Community College. The foundation is not an operational function of the institution and its identity is maintained separate from the institution; however, accountability and activities of the foundation are monitored by the institution to ensure compatibility with the institution’s mission. The Foundation is a separate legal entity; therefore, the college assumes no liability for the Foundation and its activities [1,2,3,4,5].

Nashville State Technical Community College is in the process of establishing a new, separate foundation which will exist solely for the support and benefit of the Don Sundquist Center in Cookeville, Tennessee.  Once approval is obtained from the appropriate regulatory agencies for the new foundation, a formal agreement will be created which accurate describe the relationship between the institution and the foundation, describes any liability associated with that relationship, and ensures that the relationship is consistent with the institution's mission.