SACS at RBC: Comprehensive Standard 3.2.2.4

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Section III: Comprehensive Standard

3.2.2.4 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. (Legal Authority and Operating Control: Related Foundations and Corporate Entities)

JUDGMENT OF COMPLIANCE

√ Compliance Partial compliance Non-compliance

NARRATIVE

Article II, Section 3 of the Bylaws of the Board of Visitors of The College of William and Mary states that the President or the Dean of Administration and Finance has the authority to sign corporate resolutions. "The President or the Dean of Administration and Finance shall have the authority to sign corporate resolutions on behalf of [Richard Bland College]."

The Richard Bland College Foundation is the only related corporate entity of the College. The Articles of Incorporation of the Richard Bland College Foundation and the Richard Bland College Foundation Bylaws clearly describe the activities of the corporation and its relationship to the purpose of the institution. The foundation is governed by a Board of Directors. The President of Richard Bland College, the Dean of Administration and Finance, and the Director of Institutional Advancement serve as ex-officio members of the board and have full voting rights. A “Memorandum of Understanding” describes the fiscal and operating relationship between Richard Bland College and the Richard Bland College Foundation.

SUPPORT DOCUMENTATION

SOURCE	LOCATION/Special Instructions
The College of William and Mary Board of Visitors Bylaws 2007, Article II, Section 3	Document only available to SACS reviewers.
RBC Foundation Articles of Incorporation	Document only available to SACS reviewers.
RBC Foundation Bylaws	Document only available to SACS reviewers.
“Memorandum of Understanding Between RBC and the RBC Foundation”	Document only available to SACS reviewers.

Page updated February 8, 2008 | Questions or comments? Email sacsparc@rbc.edu