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Foundation Structure

History

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

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:

  1. Donations to the TMCC Foundation are not reported on the Board of Regents Gift Report.
  2. 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.