History
The Truckee Meadows Community College Foundation's articles of Incorporation and Bylaws were approved by the Board of Regents on November 5, 1982.
The ÃÛÑ¿app Foundation then applied for and received the status as a non-profit corporation by the on December 9, 1982.
On March 19, 1984, the ÃÛÑ¿app Foundation was determined exempt from Federal Income Tax under Section 501(c) (3) of the Internal Revenue Code. The ÃÛÑ¿app Foundation was established as a non-profit corporation exclusively for charitable and educational purposes.
Board of Regents
The members of the are corporate members of the ÃÛÑ¿app Foundation and have the responsibility of assuring the people of the State of Nevada that the ÃÛÑ¿app Foundation as a corporation acts within the bounds of its purpose and authority as defined by the ÃÛÑ¿app Foundation's Articles of Incorporation and Bylaws and within the laws of the State of Nevada.
Financial Records
Financial records for the ÃÛÑ¿app Foundation are kept separate and distinct from Truckee Meadows Community College financial records. Truckee Meadows Community College is a member of the Nevada System of Higher Education. The ÃÛÑ¿app Foundation operates as a separate corporation including filing its own separate report annually.
Board of Trustees
The Truckee Meadows Community College Foundation has a governing Board of Trustees consisting of a maximum of 40 business/community leaders to provide influence in local and national fund raising efforts.
The same procedure used in accepting a donation to Truckee Meadows Community College is used in accepting a donation to the ÃÛÑ¿app Foundation except the following:
- Donations to the ÃÛÑ¿app Foundation are not reported on the Board of Regents Gift Report.
- Donations to the ÃÛÑ¿app Foundation are not recorded, listed, or tagged by the NSHE Purchasing Department on ÃÛÑ¿app's inventory lists.
Donations to the ÃÛÑ¿app Foundation must be clearly marked on the Donor Record and Gift Contribution form as donations to the Foundation. Donations to ÃÛÑ¿app must be clearly marked on the Donor Record and Gift Contribution form as donations to Truckee Meadows Community College.