Welcome |
FAQs1. What is the Virginia Western Educational Foundation, Inc.?The Virginia Western Community College Educational Foundation is an independent not-for-profit 501(c)(3) organization founded in 1980 and dedicated to enhancing community awareness of the College; securing private and public funds for student scholarships, faculty development, and capital projects; and providing prudent fiscal management of monies and properties submitted to the Foundation. The Foundation's mission is to foster life-long relationships that build advocacy and support for Virginia Western.
2. Why does Virginia Western Community College need private support?The State of Virginia provides less than 60% of the College's total operating budget. That budget has been cut increasingly each year and by more than 12.4% last year alone. An infusion of dollars, over and above those provided by the State, are needed so Virginia Western can address specific needs that will directly affect the economic and social well being of our region.
3. How do private contributions to the VWCC Educational Foundation help the College?Private resources help the College sustain its quality of excellence and address the economic and educational challenges facing our region. Private support for the College’s first major gifts campaign provided $4 million for Health Technology program development, scholarship development, technology and workforce development and the unrestricted fund. Because of this support the College doubled the size our nursing program, endowed an additional 18 scholarships, and enhanced other existing technology and workforce development programs. A new program in radiation oncology was initiated and admission to the Associate Degree Nursing Program (RN) increased by 80%! In 2005-2006 gifts to the College’s first ever Annual Giving Program will support scholarships for financial need or academic excellence; innovative programming and creative teaching; furnish updated equipment to support technology; and build a solid financial foundation to plan for the future.
4. What are my options for giving?The VWCC Educational Foundation receives gifts from individuals, corporations, and foundations. These gifts may be cash given through an annual gift or pledge. Other methods of giving include stock, personal property, and real estate. Charitable trusts, gift annuities, bequests and provisions, and paid up life insurance policies are examples of deferred gifts. Many corporations will also match gifts made by their employees to VWCC.
5. What is an endowment?An endowment is an account where the interest earned from the principal provides a permanent source of funds for a particular purpose at the College. Interest may support a scholarship, faculty professional development, equipment purchases or special projects. Because an endowment's principal is never spent, endowed funds create financial stability which allows VWCC to be less dependent on unpredictable sources of revenue, such as government support or grants. VWCC's endowment funds are professionally invested and managed by the Foundation.
6. What endowment naming gift opportunities are available at VWCC?Named endowment funds give donors an opportunity to associate the name of a family or individual with a project or program of lasting worth. Named endowment opportunities at VWCC range from scholarships to faculty and program support. Named endowment giving levels begin at $15,000 for a student scholarship and program support; and endowed program begins at $100,000.
7. May I designate how my gift will be used?Yes! You may designate your gift to support departments, programs, projects, or you may choose to establish a scholarship fund to support specific types of students. You may also opt to leave your gift unrestricted, which means support will be given to the areas of greatest need.
8. What is the difference between unrestricted and restricted gifts?Unrestricted gifts provide funds to VWCC that are not restricted to specific program uses. These gifts provide resources for scholarships, incentive grants, faculty & staff professional development, and special projects. Restricted gifts may only be used for the specific purpose set by the donor or the endowed fund. Examples of restricted gifts are endowed scholarships, endowed program funds (i.e., the Liberal Arts Endowed Fund) or capital improvements funds. VWCC welcomes both restricted and unrestricted gifts. Unrestricted gifts are especially important and will provide flexibility to support areas of greatest need.
|