(a) The college is empowered and authorized through its board of trustees to accept gifts, grants, bequests and devises absolutely or in trust for such purposes as the college trustees may deem appropriate or proper for carrying on the programs and objectives of the college. The college shall neither participate in the selection of nor accept contributions which may in any way distinguish among individuals or groups on the basis of sex, age, race, color, religion, creed or national origin.

(b) All gifts of money made in the name of the community college shall be recorded in the college fund or foundation.

(c) Gifts of personal property, instructional equipment, library books or special collections, works of art, and other items of value to the college shall not be considered as part of the operating budget.