CFCC fundraising foundation looks to improve after critiques

WILMINGTON, NC (WWAY) — Thursday night, Cape Fear Community College’s board of trustees was presented with an assessment of the CFCC’s Foundation’s structure and finances.

CFCC’s Foundation helps raise money for scholarships, grants and capital improvements for the community college.

Fuquay Solutions, a private consulting firm, shared the Foundation’s assessment. They said the Foundation didn’t do anything wrong. In fact, consultants said the Foundation has dedicated people who have a good track record for raising money.

But they said there needs to be improvements made to the way they record their finances. They said the financial reporting was “insufficient and outdated.”

The group also found the governance structure needed to be improved.

Amanda Lee, CFCC president, said they are going to use this information to move forward.

“I hope that one of the takeaways that everyone here heard is that the Foundation does an excellent job. That our staff is good at what they do so now what we get to do is make them even better, and that’s what we are anxious to do, we are anxious to start tomorrow,” said Lee.

It was recommended a task force be put together to straighten up the structure of the Foundation and its reporting habits.