Thank you for considering a gift to MWCC Foundation, Inc. Individuals, corporations, and foundations may give in a number of ways. All gifts make a great impact and are greatly appreciated. Your gift can be made as a one-time contribution or a multi-year pledge to maximize the size of your contribution. The foundation year runs from July 1 through June 30.
Annual Fund/Unrestricted Gifts
Your unrestricted Annual Fund donation will allow the MWCC Foundation to furnish scholarships, develop signature programs, improve facilities, support faculty development and to provide start-up funds for cutting-edge initiatives. Gifts of every size are crucial to the success of the Annual Fund; gifts are combined and deployed where they can have the greatest impact on the college, our students and our community.
Your donations not only help us provide students with an affordable education, but they also allow us to implement social, economic and cultural initiatives. By making a gift to the MWCC Foundation through your overall estate or financial plans, you can ensure that these goals are met for future generations while providing financial or tax benefits to you and your family. Speak with your estate planning professional about making a bequest or naming the MWCC Foundation as a beneficiary of a life insurance policy or retirement account. Other giving options include charitable annuities and trusts. Please have your financial planner, tax advisor or lawyer consult us before executing these options.
Thanks to the generosity of our supporters, the Mount Wachusett Community College Foundation distributes more than $250,000 annually in scholarship money. More than 60% of our student population requires financial assistance so without these crucial gifts many of the most disadvantaged students would not be able to attend MWCC.
There are several ways which you can make a difference by donating to MWCC scholarships:
- The General Scholarship Fund: Your donation to the general fund will allow us to utilize scholarship dollars wherever we see the greatest student need.
- Endowed Scholarships: A gift of any amount can be made to an existing endowed named scholarship or a new endowed named scholarship can be created with the minimum amount of $10,000 (can be endowed over several years). An endowed named scholarship lives on in perpetuity and has specific criteria for recipients and annual award.
- Non-Endowed Annual Scholarships: A gift of any amount can be made to an existing non-endowed scholarship or a new annual non-endowed scholarship can be created. An annual non-endowed scholarship can be funded in several ways:
- A one-time donation under $10,000, a specified award, specified criteria, given annually until fund is exhausted.
- A one-time donation under $10,000, a specified award, specified criteria, given annually that can be added to over time and given out until fund is exhausted.
- An annual donation which is given out in total annually. Specified award and criteria.
Endowments and Naming Gift Opportunities
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 purpose at the college such as a scholarship/grant, civic engagement initiatives, or student/program support. Since an endowment’s principal is never spent, the funds create financial stability, allowing MWCC to be less dependent on unpredictable sources of revenue, such as government supported grants. MWCC endowment funds are professionally invested and managed by external investment advisors.
Equipment or Supplies Donations
If you donate equipment or supplies, referred to as a gift-in-kind, you will be recognized for the value of the gift. Documentation through a receipt, invoice, or other instrument must be submitted at the time of a gift-in-kind contribution.
Faculty and Staff Giving
MWCC Foundation Inc. is proud of faculty and staff commitment and dedication to making MWCC an outstanding educational provider and leader in community service. The campaign’s goal is 100 percent participation by all college employees. No gift is too small or too big. Faculty and staff can contribute by:
- Check, cash, or credit card during the annual Faculty and Staff Campaign, payroll deduction or direct debit from checking account.
Faculty and staff giving is not restricted to the annual Faculty and Staff Campaign. Gifts are welcomed year-round.
Participation signifies faculty and staff commitment to MWCC and the students. When the foundation solicits gifts from the community, the generous support of faculty and staff encourages others to give.
More Information on Giving
The size of your gift is entirely up to you. Contributions of all sizes are important and are gratefully accepted. Your gift to the MWCC Foundation, Inc. Annual Fund directly supports the educational, social, recreational, and cultural mission of the college and benefits the communities we serve. Show your support for MWCC by making a gift to the Annual Fund this year. Giving levels:
- Friend’s Circle up to $249
- Wachusett Circle $250 – $999
- Dean’s Circle $1,000 – $2,499
- Foundation Circle $2,500 – $4,999
- President’s Circle $5,000 and up
Designating Your Gift: Restricted or Unrestricted
Unrestricted gifts allow the college to immediately use your gift to provide support to areas of greatest need. Restricted gifts allow you to designate your gift to a program, department, or project. Restricted gifts are held in trust for their designated purposes. If given for an endowment, your gift can begin gaining usable earnings. Many donors do both with multiple gifts. Although both restricted and unrestricted gifts are welcome, unrestricted gifts are of critical importance.
Gifts are Tax-deductible
All gifts to MWCC Foundation, Inc., on behalf of MWCC, are tax-deductible within certain limits provided by law. The foundation is established under sections 501(c)(3), 509(a)(1) and 170(b)(1)(A)(iv) of the Internal Revenue Code—FID #23-7136083. Consult a financial planner or tax advisor to determine the exact tax advantages of any gift.
Trust and Fiduciary Responsibility
Gifts made to the foundation for the sole benefit of MWCC are voluntary investments from individuals, corporations and philanthropic foundations. The foundation structure legally preserves the private nature of the gifts and the donor’s anonymity when it is requested. The foundation gives donors additional confidence that their gifts will be used in accordance with their wishes and to enhance programs rather than replace state support. The foundation issues individual reports to donors who have established endowments, providing specific information about how funds have been managed and used.
Answers to basic questions about private giving to MWCC Foundation, Inc. are addressed below. If you have a question that is not included, or if you need more information, call 978-630-9276.
MWCC’s Need for Private Support
Private philanthropy is and will continue to be what transforms good colleges into extraordinary ones. MWCC has become a state-assisted, rather than state-supported, institution. The amount of state-allocated operating funds has gone from 85 percent ten years ago to 30 percent today. This is happening at a time when the college is in a period of substantial growth and student enrollment is the largest in history. At MWCC, private giving allows the college visionary leadership to focus on creating outstanding centers of educational excellence.
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 entail careful planning and are often made over a period of years. Endowment funds can become family traditions, with succeeding generations adding gifts to the principle established by the founding donor. There are several naming endowment opportunities, including student scholarships/professional development awards, program chairs, and civic engagement initiatives. Generally speaking, the minimum level to establish a named endowment is $10,000, depending upon the purpose of the endowment.
MWCC Foundation, Inc’s Accountability to Donors and the College
The volunteer Board of Directors monitors all foundation activities. All gifts are used in strict accordance with the donor’s wishes and are deposited directly into an existing or newly created fund to benefit a purpose designated by the donor.
The details of the foundation’s expenditures that benefit the college have always been available to the public through the Report of the College. The foundation’s financial statements are audited annually by a national accounting firm, and college officials and state auditors receive copies of these audited statements.
Specific information about revenues, expenses and operating costs is available to the public through the foundation’s annual tax returns, Form 990, providing details of fundraising, management and other revenues and expenses. These forms are on file with the Secretary of the State.