Procedure for Processing Donations
Procedure for Processing Donations to TMCC Foundation
The Truckee Meadows Community College Foundation's articles of Incorporation and Bylaws were approved by the Board of Regents on November 5, 1982.
The TMCC Foundation then applied for and received the status as a non-profit corporation by the Nevada Secretary of State's Office on December 9, 1982.
On March 19, 1984, the TMCC Foundation was determined exempt from Federal Income Tax under Section 501(c) (3) of the Internal Revenue Code. The TMCC Foundation was established as a non-profit corporation exclusively for charitable and educational purposes.
Board of Regents
The members of the Nevada System of Higher Education (NSHE) Board of Regents are corporate members of the TMCC Foundation and have the responsibility of assuring the people of the State of Nevada that the TMCC Foundation as a corporation acts within the bounds of its purpose and authority as defined by the TMCC Foundation's Articles of Incorporation and Bylaws and within the laws of the State of Nevada.
Financial records for the TMCC Foundation are kept separate and distinct from Truckee Meadows Community College financial records. Truckee Meadows Community College is a member of the Nevada System of Higher Education. The TMCC Foundation operates as a separate corporation including filing its own separate report annually.
Board of Trustees
The Truckee Meadows Community College Foundation has a governing Board of Trustees consisting of a maximum of 40 business/community leaders to provide influence in local and national fund raising efforts.
The same procedure used in accepting a donation to Truckee Meadows Community College is used in accepting a donation to the TMCC Foundation except the following:
- Donations to the TMCC Foundation are not reported on the Board of Regents Gift Report.
- Donations to the TMCC Foundation are not recorded, listed, or tagged by the NSHE Purchasing Department on TMCC's inventory lists.
Donations to the TMCC Foundation must be clearly marked on the Donor Record and Gift Contribution form as donations to the Foundation. Donations to TMCC must be clearly marked on the Donor Record and Gift Contribution form as donations to Truckee Meadows Community College.
Procedure for Processing Donations to TMCC
Gifts from the community for contribution to TMCC may be received by any TMCC employee. Once a potential donor has contacted a TMCC employee, the following steps should be followed.
- Notify the Foundation/Institutional Advancement Office of the potential gift.
- The TMCC employee must try to secure full information on the potential donation: value, use restrictions, etc.
- If the department where the TMCC employee works want the donation, then that employee is responsible for completing the appropriate paperwork to secure the donation.
- The potential receiving department must determine that indeed the donation is valuable or of use to the department. A department should graciously turn down a potential donation if the donation would not have value or appropriate use. (Institutional Advancement can help with this task, if needed).
- If a donation is accepted, the department must fill out a Donor Record and Gift Contribution form and submit it to the Foundation/Institutional Advancement Office. The Foundation/Institutional Advancement Office uses the completed form to create the Board of Regents Gift Record, per the Board of Regents Handbook, Title 4, chapter 10, Section 8, "A gift or grant to the University of Nevada or one of its member institutions may be accepted only by the Board of Regents..."
- The potential receiving department should write a thank you letter to the donor even if the donation has been rejected. A copy of this letter should accompany the gift report form.
- The receiving department is responsible for notifying the Nevada System of Higher Education Business Center North Purchasing Department of all equipment donations of $2000 or more. All equipment donations of $2000 or more to Truckee Meadows Community College must be reported on equipment inventory lists.
- Through IRS regulations, it is the responsibility of the donor to place a value on the gift. TMCC employees are not to determine a value on any gift. If the donor refuses to place a value on the gift, then the department must inform the donor that a "zero" value will be listed on the Donor Record and Gift Contribution Form.
- The TMCC Foundation/Institutional Advancement Office will write a thank you letter for the donation and copy the letter to the President of the college, if appropriate.
- It is the department's responsibility to notify the Nevada System of Higher Education Business Center North Purchasing Department of the deletion of donated equipment from equipment inventory lists.