Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The board of governors of Quincy College is hereby authorized to establish a foundation for Quincy College and its corresponding endowment funds, including those funds formerly held by the Quincy College Trustees, and funds held by the Quincy College Plymouth Campus Council, or funds donated as charitable gifts to the operating account of Quincy College pursuant to chapter three hundred and thirteen of the acts of nineteen hundred and eighty-one. Said endowment funds shall receive revenue from charitable gifts and donations, and may be used for purposes of Quincy College; provided, however, that such expenditures shall conform to any restrictions imposed by the charitable donor.
SECTION 2. A foundation created under the authority of this section shall be a corporation within the meaning of clause (c) of section two of chapter one hundred and eighty of the General Laws, and said corporation shall be governed by the provisions of said chapter one hundred and eighty except as hereinafter provided. Any foundation created under the authority of this section shall be organized and operated exclusively for the benefit of Quincy College and shall be certified by the board of governors to be operating in a manner consistent with the goals of Quincy College. Any foundation which is not so certified or whose certification has been revoked by the board of governors shall not use the name of Quincy College in the foundation's name and for fund raising, and shall not be considered authorized under the provision of this section.
SECTION 3. Any foundation for Quincy College shall have a governing board to oversee its operation. The president of Quincy College or his designee, two members of the board of governors and a faculty member elected by the faculty of Quincy College pursuant to election procedures approved by the board of governors shall all be members of the governing board of the foundation. In no event shall such Quincy College trustees, employees and alumni constitute one-half or more of the membership of such foundation's governing board. The governing board of each foundation shall annually file a list of the members and officers of such board with the board of governors.
SECTION 4. The board of governors of Quincy College is authorized to permit the use, without compensation, of facilities and personnel services of Quincy College by the foundation.
SECTION 5. All gifts from the foundation to Quincy College shall be approved for acceptance by the board of governors, in accordance with applicable college policies. Any person soliciting funds or any other thing of value on behalf of the foundation from a person, firm, corporation or other entity shall at the time of the solicitation clearly and conspicuously disclose to the potential donor that the donations are to be provided to the foundation and not to Quincy College directly, and that the donor may request in writing that the donor's identity not be publicly disclosed.
SECTION 6. Any foundation formed pursuant to this statute shall provide an annual report of its financial accounts in the form, and containing the information, required by the board of governors and shall provide such report to the board of governors. The board of governors may require any supplemental data relative to the operations for the foundation which it may request. The identity of donors who wish to remain anonymous shall be protected, and the anonymity of such donors shall be maintained in all audit reports. The annual financial report, when received by the board of governors, shall be considered a public record as defined in clause Twenty-sixth of section seven of chapter four of the General Laws.
SECTION 7. The city auditor shall have the authority to audit the foundation upon request of the board of governors or upon his own initiative. Such an audit may include, but shall not be limited to an examination of transfers to or expenditures from foundation accounts of public funds; use of employees paid with public funds to staff the foundation; the existence of contracts or agreements between the foundation and Quincy College; an examination of books and records of the foundation as the auditor deems necessary and appropriate.
SECTION 8. The foundation authorized under the provision of this act shall not be deemed to be an agency, board, bureau, department or division of the city of Quincy. Members of the governing board of this foundation who are not already employees of Quincy College or the city of Quincy shall not be considered to be employees or public employees for the purposes of chapter two hundred and sixty-eight A and two hundred and sixty-eight B of the General Laws.
SECTION 9. This act shall take effect upon its passage.