Judgment of Compliance: The College certifies COMPLIANCE.
Narrative:
North Carolina General Statutes 115D-20(9) encourages the establishment of a private non-profit corporation to support the institution. The Foundation of Wayne Community College was incorporated on July 30, 1986, and received 501(c)(3) exemption on October 1, 1987.
The By-Laws of the Foundation of Wayne Community College, Inc., clearly define the purposes of the Foundation. Article II, Purposes, states in part:
"The Foundation is organized exclusively for the benefit of, to perform the functions of, or to carry out certain charitable, educational, literacy and scientific purposes of
Wayne
Community College
, including the following:
- To maintain and develop the facilities and services of
Wayne
Community College
for broader educational opportunities for its students, staff, faculty….than would be available from tax or other governmental services;
- To award scholarships and grants to students, faculty and staff of
Wayne
Community College
."
In practice, the Foundation raises funds from the private sector to provide scholarships to students. The Foundation also provides unrestricted funds to the college at the request of the President. The money that comes into the Foundation goes directly to the students or to college projects; therefore, the mission of the Foundation is consistent with the mission of the college.
The Foundation of Wayne Community College is not a separate corporate entity and is controlled by the college. Comprehensive Standard 3.2.2.4 provides more detail on the Foundation.
