The Pearl River Community College Development Foundation Inc. is a separate tax exempt non-profit 501 (c) (3) corporation governed by its own board of directors. An annual audit is conducted by an independent accounting firm in accordance with generally accepted auditing standards.
The Development Foundation is a clearinghouse for all private funds to Pearl River Community College and is responsible for coordinating all fund raising endeavors and solicitation efforts whether through written, personal, or telephone contact.
Contributions to the Foundation may be made of gifts such as cash or securities, gifts in trust with reservation of income to donors, or a transfer of property (such as real estate). The private sector gifts might also include matching gifts, insurance policies, and gifts-in-kind. Gifts are tax deductible as provided by law.
Donations can be made to the Foundation as either unrestricted or restricted. Unrestricted donations are used to fund priority goals on campus as recommended by the Pearl River Community College Administration and approved by the Pearl River Development Foundation Board of Directors.