Financials and Accountability
The Blinn College Foundation manages many different types and sizes of gifts. Gifts received by the Foundation are either invested or disbursed to different areas based on donor designation. In this way, endowments remain forever, benefiting generation after generation of students and faculty. Whereas, one-time gifts go towards funding current projects.
FY16-17 Financial Statistics; as of August 31, 2017
NET ASSETS - $8,590,846
Numerous checks and balances are in place to ensure the integrity of Foundation:
BOARD OF DIRECTORS
The Blinn College Foundation Board of Directors consists of twenty members, each with extensive business and community experience. These individuals determine our investment and fundraising policies/priorities, along with approving our annual budget.
An external auditor annually audits the Foundation. Findings from this audit are published along with our financial statements in our annual report and copies are available to the public upon request.
We regulate the use of gifts through numerous internal and external controls. As a matter of procedure, each gift is received with instructions from the donor that protect the gift with the purpose of the donor in mind. Any transaction and use of the gift requires appropriate approvals from the foundation, college, and appropriate and in some cases the Blinn College Foundation Board of Directors and the Blinn College Board of Trustees.
PARTNERSHIP WITH THE COLLEGE
To ensure the Blinn College Foundation focuses on Blinn College funding priorities, we maintain an open line of communication with the Chancellor of the Blinn College District, Vice Chancellors, Deans, and the Blinn College Board of Trustees.