SECTION 1.85. Relationship between the Texas Higher Education Foundation and the Board

(a) The Board may provide to the Texas Higher Education Foundation:

(1) fundraising and solicitation assistance;

(2) staff services to coordinate activities;

(3) administrative and clerical services;

(4) office and meeting space;

(5) training;

(6) any service or agreement authorized by the legislature; and

(7) other miscellaneous services as needed to further the duties and purposes of the Board.

(b) In addition to gifts and donations authorized by law, the Texas Higher Education Foundation may provide:

(1) postage;

(2) printing, including letterhead and newsletters;

(3) special event insurance;

(4) recognition of donors;

(5) bond and liability insurance for organization officers; and

(6) other miscellaneous services as needed to further the duties and purposes of the Board.

(c) The Texas Higher Education Foundation and the Board shall enter into a memorandum of understanding (MOU) which contains specific provisions regarding:

(1) the relationship between the Board and the Texas Higher Education Foundation and a mechanism for solving any conflicts or disputes;

(2) fundraising and solicitation;

(3) the use of all donations from fundraising or solicitation, less legitimate expenses as described in the MOU, for the benefit of the Board;

(4) the maintenance by the Foundation of receipts and documentation of all funds and other donations received, including furnishing such records to the Board;

(5) the furnishing to the Board of any audit of the Texas Higher Education Foundation by the Internal Revenue Service or a private firm; and

(6) the reasonable use of Board employees, equipment, or property in order to further or support the purposes or programs of the Board, provided such usage is commensurate with the benefit received or to be received by the Board.

Source Note: The provisions of this §1.85 adopted to be effective May 18, 2023, 48 TexReg 2489