2.0 Core Requirements
3.0 Comprehensive Standards
4.0 Federal Requirements
|126.96.36.199 Board - Foundations|
|Monday, 31 August 2009 14:29|
The legal authority and operating control of the institution are clearly defined for the following areas within the institution's governance structure: related foundations (athletic, research, etc.) and other corporate entities whose primary purpose is to support the institution and/or its programs.
Responsible Unit: Division of Development and University Relations
The legal authority and operating control that govern the fiscal stability of North Carolina Agricultural & Technical State University (A&T) are clearly defined in A&T's governance structure as outlined by state laws, the University of North Carolina System (UNC System) policies, and local A&T policies and procedures. The legal authority of A&T to operate as an institution of higher education is codified in 100.1: Chapter I: Sections 100., 101, 102, 103 and Chapter II: Section 203  of the University of North Carolina Policy Manual: The Code of the Board of Governors, wherein the Board of Governors (BOG) of the University of North Carolina is the policy-making body legally charged with "the general determination, control, supervision, management, and governance of all affairs of the constituent institutions." The BOG may delegate any part of its authority over the affairs of any constituent institution to the board of trustees or, through the president of the university, to the chancellor of the institution in any case where such delegation appears necessary or prudent to enable the institution to function in a proper and expeditious manner . Any delegation of authority may be rescinded by the board at any time in whole or in part.
The BOG encourages the establishment of private, nonprofit corporations to support the constituent institutions of The University of North Carolina . The UNC president and the chancellors of the constituent institutions may assign employees to assist with the establishment and operation of a nonprofit corporation and may make available to the corporation office space, equipment, supplies, and other related resources; provided, the sole purpose of the corporation is to support the University of North Carolina or one or more of its constituent institutions.
Chartered March 9, 1946, the North Carolina A&T University Foundation, Inc. , is a 501(c)(3) not-for profit organization that is governed by a Board of Directors and is managed by a professional staff. The foundation supports A&T's educational mission through a variety of investments. These investments provide a reliable source of funds for current and future endowments, scholarships, investments, and expenses. The mission of the foundation is threefold:
1. To foster and promote the growth, progress and general welfare of the university by receiving and administering gifts and donations for such purposes. This includes, but is not limited to, providing funds to help accommodate those needs for which state and/or state tax monies are not available;
2. To generate, through solicitations and promotions, gifts, grants and donations, to be used in helping the university to accommodate its needs and realize its goals; and
3. To manage and administer the funds and properties of the foundation in keeping with those provisions so stated in the organization's certificate of incorporation and bylaws.
The foundation operates under a set of administrative policies and guidelines to ensure that the mission of the foundation is accomplished . The foundation is audited annually by a certified public accountant . The audit report is included with the annual report to the Board of Trustees of the university. The vice chancellor for development and university relations (DUR)  is the executive director of the foundation as depicted in the DUR organizational chart . DUR policies and procedures are at . The foundation Bylaws are at . Minutes of board meetings are available under separate binder labeled accordingly.
A&T has two athletic foundations.
1. North Carolina A&T State University Aggie Club, Inc. (Aggie Club) was incorporated February 10, 1989 . The Aggie Club is the principal fund-raising arm of A&T's men's and women's athletics. The mission of the Aggie Club is to promote and encourage supporters and contributors to the A&T intercollegiate athletic program. The Aggie Club is audited annually by a certified public accountant. Each year the executive board must provide a copy of the audit report, management letter and the response to the management letter to the chancellor of the university. Minutes of Aggie Club meetings are under separate binder labeled accordingly.
2. The Victory Club Foundation, Inc. (Victory Club) was incorporated October 9, 2002 . The Victory Club was founded to support intercollegiate athletic programs. Victory Club accounts are audited annually by a certified public accountant. Minutes of Victory Club meetings are under separate binder labeled accordingly.
These two organizations and their relationships with A&T are consistent with the university's mission.
Gateway University Research Park is a 501(c) (3) not-for-profit entity created to manage and operate the joint collaboration between A&T and the University of North Carolina at Greensboro (UNCG) for the purposes of supporting research and economic development within the Triad . Gateway University Research Park will attract and retain educational, corporate, and community service agencies that advance scientific and educational research in technology.
Gateway University Research Park is a joint research campus and will operate exclusively for scientific and educational purposes for the benefit of A&T and UNCG. These factors help to qualify the governance entity as a not-for-profit corporation. It acknowledges and responds to the present and emerging needs of the Triad and state, offering a single and rich resource for growth, development, and learning in central North Carolina. Under separate binder labeled accordingly are:
2. Management Services and Development Agreement between Greensboro Center for Innovative Development, Inc. and North Carolina Agricultural and Technical State University and The University of North Carolina at Greensboro;
3. Minutes of board meetings;
4. 2007 Audit Report and
5. Other information regarding the continued development of the Gateway University Research Park.
|Last Updated ( Friday, 29 January 2010 16:35 )|