Answers to basic questions about private giving to the Mercer County Community College Foundation are addressed below. If you have a question that's not included or would like additional information, please do not hesitate to contact us.
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The MCCC Foundation, a not-for-profit 501(c)3 charitable organization, operates exclusively to support the mission of Mercer County Community College. Founded in 1976, the MCCC Foundation works with the college's Development, Grants & Alumni Office to coordinate private giving for MCCC, including soliciting, receiving and administering gifts and financial resources from private sources for the benefit of scholarships/grants and programs at the college.
Private philanthropy is and will continue to be what transforms good colleges into extraordinary ones. As state and federal funding becomes more scarce, private giving allows MCCC to continue to support scholarship programs and capital improvement balanced by visionary leadership focused on creating outstanding centers of educational excellence.
Individuals, corporations and foundations may give in a number of ways -- most simply in the form of cash through an annual gift or pledge.
Other arrangements can include employee/employer matched gifts; real estate; stocks, bonds and mutual funds; equipment; and personal property. Examples of planned gifts include IRA beneficiary designation, charitable trusts, gift annuities, bequests and will provisions, and paid-up life insurance policies.
The size of your gift is entirely up to you. Contributions of all sizes are important and gratefully accepted.
An endowment is similar to a savings account in which the generated earnings from the principal provide a permanent source of funding for a particular college purpose such as a scholarship/grant, the arts, or program support. Since an endowment's principal is never spent, the funds create financial stability, allowing MCCC to be less dependent on unpredictable sources of revenue, such as government-supported grants. MCCC endowment funds are professionally invested and managed by external investment advisors.
Named endowment funds offer donors an opportunity to associate the name of a family, individual or company with a project or program of enduring worth. Gifts to endowment can be made with an initial gift of $10,000 or more, or through several gifts over a period of years. Endowment funds can become family traditions, with succeeding generations adding gifts to the principal established by the founding donor.Named endowment opportunities through the MCCC Foundation include general endowment funds, endowed scholarships, proposed programs or building components, and special initiative endowments.
Yes! You may designate support to one or more departments, programs or projects. You may also choose to leave your gift unrestricted, providing support to the areas of greatest need. Many donors do both with multiple gifts.
Unrestricted gifts contribute to a pool of MCCC Foundation funds that is not confined to specific uses, providing resources for the areas of greatest need.
Restricted gifts are targeted to specific purposes, such as endowed scholarships/grants, student activities or faculty/staff development. Restricted gifts can only be used for the purposes for which they were designated.
Although both restricted and unrestricted gifts are welcome, unrestricted gifts are of critical importance.
Gifts to MCCC Foundation, a not-for-profit 501c(3) charitable organization, are fully tax deductible to the extent allowed by law. Consult with a tax attorney and/or financial advisor for recommendations most advantageous for your specific circumstance and objectives.
A donation of equipment or supplies, referred to as a gift-in-kind, will be recognized for the value of the gift with a qualified appraisal. Documentation through a receipt, invoice or other instrument must be submitted at the time of a gift-in-kind contribution.
Each gift to the MCCC Foundation will be counted toward annual and lifetime giving records.
The volunteer Board of Directors monitors all MCCC Foundation activities. All gifts are applied in strict accordance with donor wishes and are deposited directly into an existing or newly created fund to benefit a purpose designated by the donor.
Specific information about revenues, expenses and operating costs is available to the public through the MCCC Foundation's annual tax return, Form 990, which provides details of fundraising activity, management costs and other revenues and expenses. The Foundation's financial statements are audited annually. College officials and state auditors receive copies of these audited statements.
The Foundation's fiscal year begins July 1 and ends on June 30.