The Foundation is a private, non-profit public benefit corporation existing by virtue of Tenn. Code Ann. 49-7-107 and Tenn. Code Ann. 48-51-101 et seq. (Tennessee Nonprofit Corporation Act), is tax-exempt under Section 501(c)(3) of the Internal Revenue Code, and is organized to work in concert with the Institution. The Foundation is established by charter and bylaws dated September 23, 1985, and its purpose as stated therein. As set forth by its charter, the Foundation’s objectives are to (1) promote the cause of higher education and particularly the mission of the Institution; (2) expand educational opportunities; and (3) acquire, manage, and administer Foundation funds to achieve those objectives. The Foundation is organized exclusively for charitable, educational purposes and is empowered to encourage, solicit, receive, manage, administer, control, invest, and disburse contributions, gifts, grants, bequests, and transfers of funds or property of any nature, and carry out the wishes of donors and see that property so received is applied to the uses specified by donors.

 

 

 

 

Revision History: March 2005; June 2011; June 2012; Sept. 2014; Edited Aug. 2019