Okla. Stat. tit. 70, § 70-5-145

- Foundation gifts, grants and donations.

A. District school boards of education should be encouraged to

explore the potential benefits of local foundations and public

school/business partnerships as supplements to basic programs

publicly funded.

B. No local foundation, as defined in subsection C of this

section, shall make, and no public school, public school personnel,

or school district shall accept, any gift, grant or donation of real

or personal property from any local foundation unless the local

foundation complies with the requirements of this section and with

such other requirements for such organization as are required by

Title 18 of the Oklahoma Statutes.

C. As used in this section, "local foundation" means any

company, trust, corporation or association:

1. that solicits money or property in the name of any public

school district, public school or public school organization; and

2. which is exempt from federal income taxes or is verifiably

and in good faith in the process of obtaining federal tax exemption

status pursuant to the provisions of Section 501(c)(3) of the

Internal Revenue Code. If the local foundation is in the process of

obtaining exemption status in accordance with this paragraph, the

local foundation may make gifts, grants or donations pursuant to

this section provided it has advised the district board of education

of the status of any application for tax exemption and continues to

provide the board such information each year thereafter.

Any local foundation which has been denied such exemption or

ceases to qualify for such exemption by the Internal Revenue Service

shall not be authorized to function pursuant to this section.

D. Student organizations or club projects whose revenue may be

deposited in a school activity fund or account pursuant to Section

5-129 of this title shall not be considered "local foundations".

E. Only school districts, public schools, school personnel and

students or direct functions of a school district may be the

beneficiaries of any awards, grants or other benefits of a local

foundation.

F. The board of education of any school district in this state

may refuse to accept any donation of real or personal property

offered by or through a local foundation and shall have the final

authority to accept or refuse to accept any grant or award offered

by a local foundation for the benefit of the school district.

G. In order to assure the fairness, objectivity, and integrity

of its operations, and that its purposes and policies are consistent

with the goals of the State Board of Education, the board of

education of the school district may consider the process used in

selecting recipients of benefits or merit awards by any local

Oklahoma Statutes - Title 70. Schools Page 313

foundation in deciding whether to accept or reject the gift, grant

or donation.

H. No employee of the district shall be a voting member of a

local foundation board which is established in that school district.

Members of the board of education may serve on the board of a local

foundation, but shall not constitute a majority of the members of

the board of directors of the foundation. No other elected official

of state or local government shall be compensated by the local

foundation. The total number of ex officio local foundation members

shall be less than the number of voting members of the local

foundations. No ex officio member of the local foundation board or

employee of the school district shall be compensated by the local

foundation for service as an ex officio member of the local

foundation.

I. Any local foundation which makes a gift, grant or donation

to any school district, public school, or school personnel of this

state, regardless of when established, shall make all of its

financial records and documents available to auditors who are

performing audits of the school district. Such financial records
ocal

foundation for service as an ex officio member of the local

foundation.

I. Any local foundation which makes a gift, grant or donation

to any school district, public school, or school personnel of this

state, regardless of when established, shall make all of its

financial records and documents available to auditors who are

performing audits of the school district. Such financial records

and documents, other than the list of contributors, shall be open

for public inspection upon written request by any person.

J. A public school district shall not directly or indirectly

transfer any funds to any local foundation or render services or

provide any thing of value to any local foundation without receiving

documented adequate payment or reimbursement therefor according to

written contract. Nothing herein shall be construed as prohibiting

payment by the district of claims for expenses of fund-raising for

the benefit of the district if such fund-raising activities are

approved in advance by the district board of education and made a

part of the minutes of the meeting of the board. Nothing herein

shall be construed as prohibiting the district from providing space

in a school district building or on school district property to the

foundation for office or business purposes in exchange for the

financial benefits provided to the district by the foundation if

approved by the district board of education and made a part of the

minutes of the meeting of the board.