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A.       Acceptance of monies from the Howard Community College Educational Foundation, Inc.

In order to accept gifts and grants, the college will require that:

1.  An annual audit of the Foundation’s fiscal affairs be conducted.

2.  The Foundation will utilize generally accepted accounting principles in the establishment and maintenance of its fiscal systems.

3.  The Foundation will make available to the college and general public a yearly report of major activities, fiscal position, officers, and employees of the Foundation.

B.       Use of Foundation Funds

Funds received from the Foundation may not be used by the college to circumvent policies or rules and regulations by engaging in activities or making expenditures, which have been denied the college for other than purely financial reasons.

C.       Encouragement of Private Giving

All college personnel seeking to obtain money, equipment, or other forms of private support in the name of Howard Community College must consult with the development office for approval of proposed fundraising procedures and the potential donors who will be contacted.

Policy Manual Review/Revision:  07/01/00
Development Office Review:  02/23/11