WILLIAMSBURG TECHNICAL COLLEGE

FOUNDATION BOARD OF DIRECTORS

Mr. Henry Poston, Chairman

Palmetto Synthetics

Mr. Walter Brown, Area Commission Liaison

Firestone Building Products

Mrs. Ann Rodgers Chandler, Secretary

Music Teacher

Mr. Robert Cherinko, Treasurer

Williamsburg First National Bank

Mrs. Louise Easterling

Educator

Ms. Eleanor Foxworth

Freelance writer

Mrs. Jennifer Kellahan

Jenkinson, Kellahan and Jarrett Law Firm

Mr. W.B. Wilson

Retired

Roles and Relationships between Williamsburg Technical College

and the Williamsburg Technical College Foundation, Inc.

The Williamsburg Technical College Foundation, Inc. is a free-standing, non-profit organization chartered by the State of South Carolina on December 13, 1994. The Foundation is recognized by the South Carolina Tax Commission and the Internal Revenue Service as a tax exempt, non-profit organization with 501(C)( 3) status and may act as an eligible grantee when the College is ineligible to do so. Foundation funds are managed by Trustees for the benefit of the growth and development of the College and are dispensed for use in meeting college goals and objectives, in addition to the resources allocated by established funding sources.  The Foundation currently has assets of just under $13,000.

The Foundation provides the structure through which individuals, corporations and other private sector interests can demonstrate their support for the academic programs and economic development services offered by Williamsburg Technical College. The purpose of the Foundation is to raise funds to support the programs, services, and activities of the College, its students and employees, and to create and strengthen positive relations between the College and the community.  This purpose is in keeping with the College’s purpose to provide quality, affordable, and accessible opportunities for students to acquire the knowledge and skills to achieve their educational goals and to provide a fiscally, administratively, and academically sound and supportive environment in which these educational goals may be achieved. 

The Foundation has and will continue to take an active partnership role in advancing the College's community development mission within the Williamsburg County region by seeking an added measure of financial and other support for college activities that enhance the quality of its educational offerings. In carrying out this role, the Foundation will give testimony to the realization that, for excellence in service to be consistently achieved and maintained, private sector resources represent a critical and invaluable complement to limited public funding.

Following institution as an eleemosynary entity, the WTC administration at that time recruited a Foundation Board and held a single meeting.  The financial resources were utilized in a limited fashion through the Foundation’s account (with the approval of the two authorized Foundation Board signature providers) to fund approved events and scholarship assistance. 

One of the first actions of the Chief Development Officer hired in January 2001, was to survey all charter Foundation members asking them to state their level of continued interest in Board service in light of the more stringent requirements placed on them to provide substantial personal support of the Foundation. Several charter Board members agreed to continue to serve.  Since that time, substantial efforts have been conducted to revamp the Foundation Board to include key prominent persons who are active in the community's business, industrial, professional and civic affairs and who are willing to commit financially and time-wise to Board service.

In accordance with the bylaws of the WTC Foundation, the governing body of the Foundation shall consist of no less than three and no more than 17 voting member individuals with full power and authority over the affairs of the Foundation. The Foundation Office is maintained on the campus of Williamsburg Technical College in Kingstree.  The President of the College and the Chief Development Officer serve as ex officio (non-voting) members of the Board.

In December 2001, a re-organizational meeting of the WTC Foundation and, since that time, the Foundation Board has been actively conducting a major gifts campaign known as the Campaign for Community Enrichment.

Purpose Statement of the Institutional Advancement Division

and the Williamsburg Technical College Foundation

The Institutional Advancement Division and the Williamsburg Technical College Foundation are organized and operated soled for such educational and charitable purposes as are deemed within the meaning of Section 501 (C)(3) of the Internal Revenue Code of 1986, as amended.  In furtherance of its purposes, the division and the Foundation may conduct such activities as are hereinafter further described:

A.     The division and the Foundation shall further the educational aims of Williamsburg Technical College and the students and employees thereof by any such means as may be authorized by law and as may be determined by the Board of Trustees of the Foundation.  Such furtherance may include but shall not necessarily be limited to financial support of capital improvements of the campus or other property of the College; financial support through scholarships, grants, prizes, awards, stipends, loans, and other forms of aid to students and/or staff and faculty of the college; and

B.     The division and the Foundation shall receive funds and other assets by way of donations, contributions, gifts and grants (including those from other institutions or foundations), and also including such deferred and/or conditional gifts, the acceptance of which shall be determined by the Chief Development Officer and the Board of Trustees of the Foundation (when active) to be in the best interests of the fundraising arm of the College.

C.     The division and the Foundation shall seek to gather to itself resources as may be necessary to fulfill the aims as stated above in section A and perform all things reasonable necessary for the accomplishment of the above purposes which are not in conflict with the articles or bylaws of the corporations of the laws of the United States or the State of South Carolina.

WILLIAMSBURG TECHNICAL COLLEGE FOUNDATION POLICIES AND PROCEDURES 

To maximize success, avoid duplication of efforts and assure adherence to WTCF and WTC priorities and policies, the WTC Office of Development and the WTC Foundation will serve as the coordinating agents for all College fundraising. Gift solicitation, proposals for gift solicitation, or fundraising events to be conducted by anyone (including faculty, staff, students, alumni, friends, etc.) for the benefit of WTC or part of the College shall require the prior approval of the Chief Development Office. Approval of the WTC Foundation is required prior to the acceptance of certain gifts.

In the broadest sense, the purpose of the Office of Development and the WTC Foundation is to create an awareness within the private sector of the financial needs of the College that are not met by state or federal support and to implement a plan to generate financial support through private development. To fulfill these purposes, the Office of Development will coordinate an organized program for obtaining gift support from alumni, friends, faculty, staff, businesses, corporations, organizations and private foundations for both annual and capital purposes.

The following policies and procedures apply to solicitation of funds or gifts, proposals for the solicitation of funds or gifts, and/or fundraising events. This document does not apply for payments for services, activities, or products.

A gift is defined here as any funds or property voluntarily bestowed upon the College without expectation of return or compensation on the part of the donor. The College or its foundation cannot accept gifts which involve unlawful discrimination based upon race, religion, sex, age, national origin, color, handicap, or any other basis prohibited by federal, state, and local laws and regulations.  Neither the College nor the foundation can accept gifts which obligate them to violate any other applicable law or regulation or which violate the College's mission.

A proposal is defined as a written submission to a potential donor or funding source that requests specific support in the form of a gift or grant or that seeks to determine the interest of the source in providing such support. A fundraising event is any activity sponsored by WTC or the WTC Foundation or support groups for the purpose of obtaining gifts to benefit the College.  

Coordinating Appeals for Funds and Approaches to Donors

The Office of Development will coordinate all appeals for funds or approaches to donors for the College, all parts of WTC or the WTC Foundation.

Clearances. Prior to any solicitation of gifts or contributions, a proposal of the fundraising event must be submitted to the Office of Development to be reviewed and signed by the Chief Development Officer. No fundraising activity is to begin until this submission has been signed.

Examples of activities to be coordinated through Office of Development include, but are not limited to, the following:

a. Annual fundraising campaigns, e.g., phonathons, direct mail solicitations, etc.

b. Establishment of any program designed to solicit or acknowledge and recognize financial support and donors.

c. All fundraising efforts appealing to various College constituencies regarding scholarships, memorial funds, fellowships, aid programs, professorships, endowed chairs, loan funds, equipment, gifts-in-kind, etc.

d. Fundraising for the construction, expansion or renovation of a College building, regardless of other sources of funding.

e. Requests to private sources for the funding of new or existing academic programs.

f. Requests for gifts from foundations, corporations and individuals to support individual faculty, scholarships, students, staff or projects.

g. Writing and submission of grant proposals.

h. All other programs or activities to solicit gifts.

Gift levels required to name buildings, endow professorships and chairs, establish named scholarship funds, etc. will be established and maintained through the WTC Foundation Board of Directors and will be presented to the WTC Area Commission for final approval.

The WTC Foundation Board of Directors will determine giving clubs.

Literature for fundraising.  To help insure the dissemination of the most appropriate information for a particular fundraising effort, any literature (including letters, brochures and booklets) used to attract private funds to the College will be coordinated through The Office of Development.

Reports of private philanthropy. The Office of Development will be responsible for compiling official donor records on all private gifts. Therefore, all subsections or parts of the College shall report all gifts to the Office of Development including bequests, deferred gifts, gifts-in-kind, gifts of land or equipment, stock gifts, estate gifts, and insurance policies, as well as checks and cash. These reports should be made in a timely fashion in accordance with College fiscal policies.

Only the Office of Development staff is authorized to enter new information and/or change donor financial and/or non-financial information in the database.  Duplicate systems or multiple databases should not be established and/or maintained.   Certain screens in the database, e.g. those for donor management or giving club(s) maintenance or alumni events/activities, may be delegated to other staff with approval of the Chief Development Officer.

Prospect files. The Office of Development will establish and maintain prospect and resource files for the purpose of providing relevant information about prospective individual donors, private foundations and corporations. Access to these files shall be coordinated through the Chief Development Officer.

Volunteers in fundraising. When volunteers are to be involved in fundraising efforts, it will be the responsibility of the Office of Development to assist with the selection and recruiting of these individuals and to see that they are given the appropriate training and information required for effectiveness.

Appeals to corporations and foundations. The Office of Development will coordinate the cultivation and solicitation of gifts from corporations and private foundations. This coordination will prevent multiple solicitations to any single source of private, corporate or foundation funds. In a case of contract proposals to corporations, The Office of Development should be notified in advance so that the corporation's involvement will be reflected in Development files.

Public statements on gifts to the College shall be the responsibility of the Office of Development, which will initiate and prepare of all public statements about gifts to the institution or any parts thereof. Coordination shall also include the unit designated to receive any gift(s).

Establishing scholarships. There are two broad categories of scholarships: those funded with annual gifts and those funded with earnings from an endowment.

All endowments and some annual scholarships require a letter of agreement to be coordinated with the Office of Development. Each letter of agreement is tailored to match the desires of the donor with the needs and requirements of the College and the program being funded.

The IRS has imposed certain restrictions on charitable giving that affect scholarship funding.  In order to be tax deductible:

-- a gift may not be designated for a relative or descendant of the donor.

-- the donor may not reserve the right to select the recipient of a gift or the recipient of endowment funds.

-- the donor may not restrict the use for future employment of any designated person.

Annually funded scholarships may range from a few hundred dollars per year to full scholarships that fund tuition, fees, books, room and board, and miscellaneous expenses. Donors may make a one-time gift or pledge over a period of years. Pledges should be for a specific period so that the recipient program may plan on the availability of the scholarship.

Donors do not have to pay for scholarships in a lump sum. For example, many College employees pay for scholarships via monthly payroll deduction. Other donors may also use multiple payments.

Annual scholarships may be named by the donor for him/herself or in honor or memory of someone else. Scholarships should be at least $1,000 to be named.  However, smaller amounts pledged over a period of time may also qualify for naming.  Each case will be evaluated separately.

The major advantage of an annually funded scholarship is that the donor's entire gift is used immediately. The major disadvantage is that it has a finite ending.

Endowed scholarships may be established with a minimum gift and/or pledge of $10,000, which may be paid over a period not to exceed 5 years. A minimum initial contribution of $2,000 to the endowment should be required and a pledge card completed before a separate account is established. The money is invested and managed as part of all endowment funds. A newly established endowment will earn interest immediately, but no money will be disbursed for scholarships until the $10,000 minimum principal is reached and the donor's pledge(s) have been satisfied unless otherwise specified in the Letter of Agreement.  After the minimum amount required by the College to establish an endowment--currently $10,000--is reached and after one year as of December 31st, distribution of earnings to the operations management account may commence.  Expenditures, thereafter, should be in accordance with the Letter of Agreement and the College's prevailing rate of disbursements from endowments.

The major advantage of the endowed scholarship is that it is perpetual and, once established, requires little maintenance or attention by the donor. One disadvantage may be that scholarships will be delayed if the $10,000 is paid over a period of time.

Endowment accounts. An endowment consists of funds that are kept intact and invested. A portion of the earnings from the endowment is applied to purposes designated at the outset by the donor(s).  Endowment accounts should be housed in the Foundation structure to provide greater investment flexibility.  Prior to the initiation of any endowment the Chief Development Officer must complete a pledge form, if not fully funded at origination, and draft a Letter of Agreement,  (i.e. a set of guidelines). The Office of Development will develop the Letter of Agreement in coordination with the donor(s) and the affected campus unit. The Letter of Agreement shall be approved by both the donor(s) and the Chief Development Officer, who will then request account numbers and Financial Aid sub codes, and assign fund codes; copy for appropriate parties, and insure that information is input into the endowments data base, as appropriate, for donor recognition and the fund lookup.

Multiple restrictions on the use of gifts should be avoided. Experience has shown that restrictions drawn too finely in many cases prevent the money's use for deserving students or projects.

A minimum of $10,000 is required to establish an endowed scholarship.  An endowment is considered fully funded after the minimum required balance is attained and all donor(s) have completed all pledged payments to the account(s).  Unless otherwise specified in the Letter of Agreement, a percentage of the endowment may be utilized for the designated purpose(s) to be calculated as of December 31st following the year after pledge completion, and each year thereafter.   After an endowment is fully funded, disbursement of funds--as agreed upon in the Letter of Agreement--for awards can begin. Questions relative to account balances and interest accrued should be directed to the administering unit and/or the appropriate accountant. Administrative management will be the responsibility of the academic unit or activity, which will be responsible for account reconciliation.

To allow efficient and effective use of the endowments for designated beneficiaries as well as allowing the endowments to continue to grow, 5 percent of the endowment as of December 31st, each year has been defined as the standard amount for the following fiscal year's expenditures. Expenditure accounts will be set up for each endowment account. Unless otherwise directed by the administering unit, or mandated by the Letter of Agreement, 5 percent of each endowment account may be transferred each year to the expenditure account.

The Office of Development should report, at least annually, the use of endowment funds to the donor or the donor's family. (For example, an appropriate report for a scholarship endowment would be a letter to the donor indicating the name(s) of the student(s) receiving the award(s) and some biographical data; e.g., home town, high school, career plans, major. The student recipient should be strongly encouraged to write a personal thank-you note directly to the donor.)

Information should be compiled and distributed annually by the Office of Development for donor-sponsored endowments.   As appropriate, financial status reports may be generated for major donors for endowment accounts.

The minimum amount required to establish an endowment is $10,000.

Undesirable gifts. Some gifts are undesirable due to legal or ethical considerations. For example, gifts that:

a. restrict the beneficiary to relatives or descendants of the donor. (Such a gift is not tax deductible.)

b. reserve the right to pick the recipient of a gift or choose the recipient of endowment funds. No tax deduction is allowed for such gifts since the College is viewed by the Internal Revenue Service as the conduit for the gift rather than the recipient.

c. restrict the use for future employment of any designated person.

d. are encumbered by debt.

Naming buildings, parts of buildings, parts of the campus or programs. Any request involving the planning, construction or expansion of a building; parts of buildings, the campus or programs--funded in whole or in part by private-sector gifts--shall be submitted to the Chief Development Officer for presentation to the WTC Foundation to review regarding naming of parts of the campus.

Recognition societies. Donor clubs and societies may be established to recognize individuals who understand the importance and impact of private giving to the College.

Adopted March 6, 2002
FACILITY NAMING POLICY AND PROCEDURE

POLICY:

Facilities naming opportunities at Williamsburg Technical College will be decided by the Area Commission on a case by case basis upon the recommendation of the WTC Foundation as determined by the amount of donation and the cost to build, renovate or equip the facility in question.

PROCEDURE:

A.     Facilities naming opportunities at Williamsburg Technical College will be determined by the amount of substantial financial resources donated to the College by an individual, group, or corporate entity of recognized accomplishment or character.  Donation amounts for the naming of facilities are as delineated below:

Distance Learning Wing, Center for Community Enrichment    $1,000,000

Large Auditorium Wing , Center for Community Enrichment      1,000,000

Atrium, Center for Community Enrichment      1,000,000

Administrative Building (existing)         850,000

Shop Classroom Building (existing)         850,000

Classroom Wing, Center for Community Enrichment         500,000

Learning Resource Center (existing library) 300,000

Small Auditorium (existing)         100,000

Conference Room, Center for Community Enrichment           50,000

President’s Board Room (existing)           50,000

Science Laboratory (existing)           30,000

Cosmetology Laboratory (existing)           30,000

Smart Classroom, Center for Community Enrichment           30,000

Computer Lab (existing or in Center for Community Enrichment)           30,000

Shop Classroom (existing)           30,000

Student Lounge (existing or Center for Community Enrichment)           30,000

Bookstore (existing)           30,000

Standard Classroom (existing or Center for Community Enrichment)           25,000

TV Studio, Center for Community Enrichment           25,000

Faculty Lounge (existing or Center for Community Enrichment)           20,000

Office complex (existing or Center for Community Enrichment)           20,000

Individual Faculty

       or Staff Office (existing Center for Community Enrichment)           10,000

B.     The prospect of a major gift qualifying for recognition by having a facility or a portion of a facility named at the donor’s discretion is first to be discussed with the President, the Chief Development Officer, and members of the Foundation Executive Committee before any commitments are made.

C.     After consultation and approval, a commitment may be made to the donor commensurate with the facility naming listing as previously approved by the WTC Area Commission.

D.     Upon receipt of the donor’s gift or valid pledge, the WTCF Executive Committee will present a formal recommendation to the President and the WTCF/Area Commission liaison for presentation as information to the WTC Area Commission.  This recommendation will detail the exact space to be named, the name to be used, the type of designation, and the public recognition to be generated. This is for information and shall not in any way jeopardize the commitment between the President, the WTC Foundation and the donor.

E.      The WTCF Board of Directors, the President, and the Chief Development Officer may approve recognition for donations under $10,000.

F.      After all approvals have been obtained, appropriate steps are taken to implement the recognition opportunity. All donations of $10,000 and above shall be recognized as follows:

a.      Acknowledgement letters

b.      Media release with photo (if approved by donor)

c.      Christmas correspondence

d.      Wall of Fame recognition

e.      Annual donor publication recognition

f.        Named giving opportunity as specified above

g.      Invitation to an annual donors’ recognition event

h.      Other recognitions as deemed necessary by the WTCF Board, the President and the Chief Development Officer

G.     All donations from $1,000 to $9,999 shall be recognized as follows:

a.      Acknowledgement letters

b.      Christmas correspondence

c.      Wall of Fame recognition

d.      Annual donor publication recognition

e.      Invitation to an annual donors’ recognition event

f.        Other recognitions as deemed necessary by the WTCF Board, the President and the Chief Development Officer

H.     All donations of less than $1,000 shall be recognized as follows:

a.      Acknowledgement letters

b.      Annual donor publication recognition

c.      Other recognitions as deemed necessary by the WTCF Board, the President and the Chief Development Officer

I.        Designations of giving level at Williamsburg Technical College are as follows:

Williamsburg Society - $100,000-up

Palmetto Society - $50,000-99,999

Presidents Society - $10,000-49,999

Pee Dee Society - $5,000-9,999

Black River Society - $2,500-4,999

 Founders Society - $1,000-2,499

Three Rivers Society - $500-999

Crescent Society - $250-499

Friends Society - $100-249

Contributors Society - $1-99

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