MONTGOMERY — The Department of Postsecondary Education soon will be rid of an obscure foundation that operated for most of its existence without a functioning board of directors.
The Alabama College System Foundation, which was organized in 1990 with the broad mission of providing support to two-year colleges, will become the All-Alabama Academic Team Foundation once modified incorporation papers are filed in court.
The new purpose of the foundation will be to administer the more than $650,000 endowment of the All-Alabama Academic Team program, which recognizes two-year college students for academic achievement and community involvement.
Don Edwards, vice chancellor for operations, said that in recent years the Alabama College System Foundation’s major activity was distributing scholarships to students who made the All-Alabama Academic Team.
A report presented by Edwards to the State Board of Education Thursday says the Alabama College System Foundation’s money was managed appropriately and in accordance with its founding purposes, despite lack of oversight by a functioning board of directors.
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