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CARTERET COMMUNITY COLLEGE FOUNDATION, INC.Carteret Community College Foundation, Inc. - Audit FAQ Sheet What is the Carteret Community College Foundation? The Carteret Community College Foundation, Inc. is a non-profit 501 ( c ) (3) corporation with the mission to provide comprehensive community support and resources for Carteret Community College. Carteret Community College is supported by tax dollars. Why should I give my money? State and county allocations comprise a smaller percentage of the college’s budget than ever before. Donations like yours are an investment in human betterment through quality educa-tion, which also increases property values, attracts jobs to the area, and improves commerce as graduates get better jobs and have more spending power. Is my investment in the college foundation tax deductible? Yes. Your thank you letter will include the wording specified by the IRS. How will my contribution be used? Investments in the CCC Foundation can be designated for many purposes, like Continuing Education Loan Fund: Students in short training programs do not qualify for federal and other types of financial aid. Although the costs of attending a continuing education program are relatively low, sometimes students cannot meet the cost of books and fees. This loan fund assists them. Professional Development: These resources provide opportunities for growth for our faculty and staff as well as reward service to the college and its students. Library Fund: Truly a community as well as college library, the CCC Library uses private support to supplement its outstanding collection of books, audiotapes, materials for the visually impaired, computer resources, and its law library. Mini-grants: This program supports innovative projects designed and implemented by the faculty and staff to benefit students. Foundation directors review applications and choose recipients. New Programs and Technology: Community colleges are funded on past performance, not on future needs. To start a new program requires an investment of at least $50,000. The CCC Foundation can help defray these costs for new faculty or new equipment. Endowed Scholarship: An endowed scholarship can be created with a gift or pledge of $10,000. This amount may be paid over five years. Scholarships are not given out until the minimum of $10,000 is realized. Only income derived from investment of the endowment is used to fund scholarships. Annual Named Scholarships: A minimum of $500 is required to “name” a scholarship. Foundation General Scholarships: The income derived from investment of this fund is used for scholarships. The Foundation General Scholarship fund accepts donations in any amount Can I honor or memorialize a person with a donation? Yes. The CCC Foundation sends an acknowledgement to the family of the person memorialized or to the honored person. The amount of the gift is not designated in the acknowledgement. Who governs the Foundation? A Board of Directors that can number up to 27 members governs the Carteret Community College Foundation, Inc. Most board members are volunteers. The Carteret Community College Office of College Advancement staff provide day-to-day management of the CCC Foundation. The CCC Foundation, Inc. is audited yearly by an independent accounting firm. How can I be assured that my gift to an endowment will be properly invested? The CCC Foundation Board of Directors Finance Committee, which includes bankers and investment professionals, prudently invests foundation funds. What are the Gift Clubs? Gift Clubs acknowledge levels of giving: Heritage Society – Cumulative gifts of $25,000 and above Philanthropists Club $5,000 and above Benefactors Club $2,500 - $4,999 Directors Club $1,000 - $2,499 Trustees Club $500 - $999 Presidents Club $250 - $499 Patron Club $100 - $249 Donors Club $ 50 - $ 99 What benefits do we receive from contributing to the CCC Foundation, Inc? • You immediately enjoy the power of giving. • It feels good when you help others. • What you give here stays here in your community. • Your name is recognized in a giving club. • Your contribution to the CCC Foundation is tax deductible as allowed by law. • The sure knowledge that you are investing in the future of your county through providing excellent lifelong learning. Can I pay with MasterCard or Visa? Yes. We will need the information on your card (number, name, expiration date) and your signature. Can I make an investment over time? Yes, we can bill you annually, or you may make monthly payments. Of course, you may make an outright investment as well. What Does My Gift Fund? The following will give you an idea of the approximate cost of attendance at CCC and some of the items that your gift may fund:
Note: Out of state tuition charges are added when applicable. Call the CCC Foundation office at 252-222-6262 to discuss other opportunities to create a legacy through a planned gift or capital gift. Carteret Community College Foundation, Inc. Louise Mathews, Vice President, College Advancement and Capt. Wes Daniels, Coordinator Thank you
for your generous support of your community college
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