This policy establishes the authority and outlines the requirements for fundraising, soliciting, accepting contributions and fundraising activities by employees and students for Santa Fe Community College (SFCC or the College). All fundraising for SFCC shall be coordinated in advance through and require approval from Santa Fe Community College Foundation (SFCC Foundation or Foundation).
Scope and Applicability
This policy covers all forms of fundraising on behalf of the College, regardless of method (person-to-person, traditional or electronic mail, crowdfunding, etc.), and all means of contributions; it applies to employees, students, and College-sponsored or College-related groups and organizations. This policy does not apply to grant proposals covered under Policy 6-10 External Funding: Grants Pre-Awards.
The SFCC Foundation pursues funding from private foundations, corporations, institutions and individuals to provide resources that ensure quality education for students, to enhance existing and establish innovative programs and facilities, to further professional development for faculty and staff, and to expand support of the College. The Foundation manages donor relations and stewardship. The relationship between the SFCC Foundation and the College shall be governed by a Memorandum of Agreement between the SFCC Governing Board and the Foundation.
- Agency Funds Are monies held by the College acting as custodian or fiscal agent. These funds may be held on behalf of students, student clubs, faculty, staff, organizations, or some other third party and are not considered funds of the College.
- Contribution is the conveyance by cash, credit or debit card, electronic transfers and check or any other means of conveying monetary as well as in-kind donations.
- Crowdfunding is the concept of funding a project by raising small amounts of money from a large number of people, often online.
- Fundraising is the solicitation and securing of contributions, assets and resources by requesting donations to advance the mission of the College. Sources of support include grants, foundations, corporations, individuals, sales and services.
- Fundraising Activities/Fundraisers are events organized to financially support a specific goal. Examples at SFCC include, but are not limited to, events, raffles, t-shirt sales and silent auctions.
- In-Kind is a type of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given.
- Planned Giving is a contribution that is arranged in the present and allocated at a future date. Commonly donated through a will or trust, planned gifts are most often granted once the donor has passed away.
- Raffle is an event that provides a means of raising funds by selling numbered tickets for a contest or a game of chance conducted by drawing for prizes.
- Permanently Restricted Contributions are received with a donor-imposed restriction that is permanent, such as contributions to scholarship or special project endowments.
- Solicitation The act of requesting something – usually money.
- Temporarily Restricted Contributions are received with a donor-imposed restriction that will be satisfied in the future (generally within one year). The donor’s restriction may be for a particular purpose or program or for use in a specified time period.
- Unrestricted Contributions can be used for any purpose.
It is the policy of SFCC to uphold the reputation of the College by avoiding multiple or conflicting solicitations directed to the same source and to follow a process for prioritization, solicitation, acceptance, and acknowledgment of contributions. It is not intended to discourage initiative or the active identification of possible sources of external contributions. It is intended to designate a single coordinating point for fundraising activities.
- Approval Required.
- The President of the College has delegated the authority to solicit and accept contributions for the benefit of the College to the Executive Director of the Foundation or their designee.
- Employees and students must obtain prior approval from the Executive Director of the Foundation or their designee prior to soliciting external contributions or accepting a contribution.
- Raffles must be coordinated and approved through the Office of Student Development. Permission to hold a raffle shall be requested one month in advance of the date of the raffle. Pursuant to state statute, Bingo and Raffle Act, 60-2F-1 thru 60-2F-26 NMSA, 15.4.1 thru 15.4.9 NMAC, the College is limited to one raffle per quarter (maximum of four per year).
- Solicitation and Acceptance of Contributions.
- Whenever it appears that the source, conditions or purpose of a contribution might expose the College or Foundation to adverse publicity, extend resources beyond capacity, jeopardize the tax-exempt status of the College or the Foundation, or involve new and unanticipated responsibilities, the matter shall be referred to the President.
- Solicitation of contributions by persons other than members of the Foundation staff. Any person or group desiring to apply for external funds (except grants) or to engage in solicitation on behalf of the College or any of its programs or operations must follow the appropriate procedures.
- Acceptance of contributions by persons other than members of the Foundation staff.
- Funds considered “charitable gifts” should be deposited in an SFCC Foundation account.
- Cash contributions are accepted in the Foundation Office or online.
- Individuals may not deposit cash contributions intended for the College into personal accounts.
- Before accepting in-kind contributions, employees must submit to the Foundation Office a completed Acceptance of In-Kind Gifts Form with the signature of their dean or supervisor.
- Administrative Fee.Beginning March 1, 2016, the Foundation assesses a one-time, five (5) percent administrative fee on all Unrestricted and Temporarily Restricted cash donations. This fee will be assessed upon receipt of the donation. Funds generated from this fee enable the Foundation to meet its fundraising and administrative expenses. Cash contributions over the amount of $500 from external organizations (e.g. banks, foundations, corporations) to agency funds must be reported to the Foundation and are subject to the five (5) percent administrative fee. Contributions to agency funds below $500 are not subject to the administrative fee. In-kind contributions are not subject to the Foundation’s administrative fee.
- Planned Giving. Planned contribution agreements shall not be executed without the advice of legal counsel and approval by the Executive Director of the Foundation or their designee. Neither the College nor the Foundation shall provide legal counsel or tax advice.
- Restricted Contributions. Donor restrictions on contributions may not discriminate based upon a classification protected under the law. Donors may not restrict their contributions to benefit an individual (Internal Revenue Code, 26 U.S.C. § 170(c)(2)(C)).
- Records and Acknowledgement.
- The Foundation Office shall document and acknowledge all contributions.
- Information concerning donors, prospective donors, beneficiaries, size and type of contribution is held in strict confidence. Otherwise, unless anonymity is requested, donors will be appropriately acknowledged in Foundation and College publications.
Statement of Accountability and Responsibility
The President, through the Vice President of Finance/Chief Financial Officer and the Executive Director of the SFCC Foundation, shall be responsible for enforcing finance-related policies and procedures. The Foundation Office and the Finance Department shall work with the different departments and offices to comply with this policy and develop and maintain procedures that will enforce this policy regarding awareness, prevention and remediation.
Internal Revenue Code, 26 U.S.C. § 170(c)(2)(C)
Memorandum of Agreement between the SFCC Foundation and the College
SFCC Foundation Policies
SFCC Governing Board: 1/15/02
Revised and Governing Board approved: 8/17/03
Revised and Governing Board approved: 12/13/17