The Board of Trustees of Kankakee Community College District #520 shall support the Kankakee Community College Foundation, Inc., pursuant to the Comprehensive Operation Agreement executed by the Board and the Foundation so long as same may be valid and in effect.
Kankakee Community College Foundation
The Board shall establish and maintain a not-for-profit incorporated association to be known as the Kankakee Community College Foundation.
Purposes
The purposes for which this Foundation is formed are:
- To encourage the establishment of scholarships, grants in aid, fellowships, and research chairs, and encourage gifts of funds. Further, to encourage gifts of loans of property, works of art, historical papers and documents and museum specimens having educational value, artistic, historical literature or cultural value by use of said college;
- To act in a fiduciary capacity in carrying out any and all of the aforesaid purposes;
- To promote and assist in broadening the educational opportunities and services available to students, alumni, and other citizens of the district.
Membership
The Foundation Board shall include in its bylaws guidance for appointing a minimum of twenty (20) members to govern the Kankakee Community College Foundation. The appointments shall be made, if feasible, from each of the high school districts within the college boundaries. The President of the college shall be an ex-officio member of the Board. The members shall serve for four (4) year terms, while residents of the district, at the pleasure of the Board of Trustees and shall provide by their by-laws for the staggering of the terms.
Officers
- Treasurer. The treasurer of the college shall be the ex-officio treasurer of the Foundation, and the Foundation shall deposit all its funds in a special account of said treasurer who shall make periodic reports to the Foundation as requested. The treasurer's official bond shall be the bond for the funds of the Foundation.
- Secretary. The college Board does further authorize the President of the college to appoint a member of his/her staff as ex-officio secretary of the Foundation to perform the usual functions as such, and authorizes the President to maintain an office on the campus for the Foundation, provide meeting rooms for the Foundation and provide the necessary secretarial help, postage, stationery and printing and other incidental expenses of the Foundation. The secretary shall act as liaison between the college staff, the college Board, the faculty, the students, and the Foundation.
Gifts
The Foundation shall have the authority to solicit and accept funds and grants and hold in trust and invest same and honor all reasonable restrictions and directions of the donors; however, all gifts of property shall have prior approval of the college Board. Upon termination or dissolution of this Foundation, all property remaining in its hands after the payment of all indebtedness shall be donated as a gift to Kankakee Community College or in the event that it shall cease to exist, then to such other non-profit educational institution of higher learning in this area as shall seem fitting and appropriate by the Foundation.
By-Laws
The members of the Foundation, by a majority vote of those present and voting, shall adopt by-laws not inconsistent with the purposes herein stated which shall provide for the election of a chairperson and a vice-chairperson to serve for one year and for the appointment of appropriate committees. The by-laws shall also provide that all funds of the Foundation shall forthwith be deposited with the treasurer of the Foundation and be disbursed by order of the Foundation, except those expenditures that may result in maintenance and other expenses on the part of the college and which shall have the college Board's approval.
In the event that a college Board trustee vacancy occurs, the Foundation may suggest a Foundation Board member as an appointee.