Judgment of Compliance: The College certifies COMPLIANCE.

Narrative:

The Foundation of Wayne Community College is the only related foundation at the college. The Board of Trustees of the college has authorized the establishment of a private, non-profit corporation under the provision of NCGS 115D-20(9) to support the needs of the college. The Foundation was established by the Articles of Incorporation of the Foundation of WCC, Inc., on July 30, 1986, and received 501 (c) (3) exemption on October 1, 1987. While the Foundation is a separately incorporated entity, it is controlled by the college through the following:

1. The Articles of Incorporation and the Foundation's by-laws clearly state that the Foundation has no other purpose than those in support of Wayne Community College.
2. The Board of Trustees of the college appoints the Board of Directors of the Foundation.
3. The Board of Trustees has the right to remove all directors and appoint provisional directors to wind up the affairs of the Foundation.
4. No amendment to the by-laws may take effect until approved by the Board of Trustees.
5. The Board of Trustees may, by resolution, dissolve the Foundation at any time, and in such case, all of the net proceeds of the Foundation are conveyed to Wayne Community College.
6. The Executive Director of the Foundation is an employee of the college.
7. The President of the college is the registered agent of the Foundation.
8. The Executive Committee of the Foundation includes the Chair of the Board of Trustees, the President of the college, and the Chair of the Finance Committee of the Board of Trustees as ex-officio, non-voting members.