Roane State Community College

General Statement
The purpose of this policy is to establish responsibilities and procedures regarding the solicitation and acceptance of gifts to the institution in accordance with TN Board of Regents policy 4.01.04.00 (Access the complete TBR policy at https://policies.tbr.edu/).

Authority to Receive Gifts
The president or the Executive Director of the Roane State Foundation, as the Roane State Community College employee serving as liaison to the Roane State Foundation, shall receive all gifts to the institution which do not require approval of the chancellor. The president may, however, authorize other institutional personnel to receive gifts for any approved fund raising activity by a club or organization. The cost of accepting or keeping a gift in accordance with donor restrictions should not cost more than the benefit of the gift.

Approval by the Chancellor
Approval by the chancellor is required prior to the acceptance of gifts that will be retained by the college indefinitely, as follows:

1. Real Property or any permanent interest in real property.
2. Property subject to indebtedness.
3. Gifts with a condition which would ultimately require consideration by the Tennessee Board of Regents or the chancellor. An example of a gift of this nature would be to support the initiation of a new academic program or a capital improvement project.

Solicitation of Gifts

1. The president or the Executive Director of the Roane State Foundation shall authorize all fundraising activities conducted by the institution in general or any of its clubs or organizations in particular.
2. Appropriate activities include any activity which is consistent with the mission of the institution, serves the mutual interest of the institution and the donor, and maintains the moral and ethical standards set by the institution.
3. Requests to conduct fund raising activities must be approved before solicitation begins. Fund Raising Request forms are available on the Foundation home page.

4. The organization sponsor and the Executive Director of the Roane State Foundation or the president’s designee must approve requests from student organizations. Requests from faculty or staff must be approved by the department head and both the Executive Director of the Roane State Foundation and the president or his designee. Solicitation of gifts which may require a commitment of institutional resources must be approved by the president or his designee.
   Fund raising activities are considered to be, but not limited to, the following:

   1. An event or activity where a charge is made to enter or participate (e.g., a tennis tournament, a concert) with the proceeds going to support the organization or its activities.
   2. Sale of merchandise (such as candy, baked goods, etc.).
   3. General requests for money, equipment or supplies.
   4. Contests requiring a fee to enter, the profits from which will go to support the organization or its activities.
   5. Solicitation in person, via letter or email, or via the RSCC website, or other electronic means.

Receipting, Accounting, Inventorying, Disposition and Reporting of Gifts

1. All charitable gifts of money shall be properly receipted. A prompt acknowledgment by the foundation, of the gift, enclosing a receipt, shall be mailed to the donor.
2. Prior to the beginning of any fund-raising activity, the Vice President for Business and Finance shall approve the manner in which all receipts shall be managed.
3. Gifts of personal property and other tangible items or services must be reported using the In-Kind Gift Report Form prior to their acceptance. This form documents the need and the projected use of the item. The donor should provide documentation of the fair market value of the gift before acceptance is made. The foundation will promptly acknowledge, in writing, all gifts received.
4. Roane State shall assume no responsibility for establishing a value on gifts for tax purposes. Gifts of personal property or gifts in kind shall be recorded at the fair market value of the gift on the date the gift was made. Final determination of value shall be the responsibility of the Vice President of Business and Finance or designee.
5. Gifts of equipment shall be appropriately inventoried in accordance with Roane State’s policy BA-03-01 Equipment Capitalization, Physical Inventory, and Use of College Equipment. Access the complete RSCC policy at https://www.roanestate.edu/policies/.
6. Sanctioned clubs and organizations are not permitted to establish an independent checking or savings account. All funds must be deposited with the Business Office or associated Foundation account.
7. A record of all gifts shall be maintained and a report of such gifts shall be made to the chancellor on an annual basis or as required by the foundation and/or the college. There shall be a separate set of records kept for gifts received by the college and gifts received by the Roane State Foundation.
8. Corporate stock or other securities given to the college may be sold by the college through or in consultation with a registered securities broker within 60 days of receipt of the stock certificate. Each sale may be executed by the president or designee.

Restricted Gifts
All gifts with restrictions as to use shall be recorded as "restricted". Written acknowledgment of the gift shall state the college's understanding of the restriction.

All restricted funds shall be accounted for in such a manner to maintain the integrity of the funds separate and apart from all other funds held by Roane State.

Roane State Community College Foundation
The RSCC Foundation shall operate in compliance with this policy.