Frequently Asked Questions
Why does Fayetteville Technical Community College need private gifts and contributions?
Even though FTCC is a state-supported institution and receives both state and county funds, the College and its students still need financial assistance. By receiving donations through the FTCC Foundation, Inc. of money and gifts-in-kind, the College is better able to meet the needs of its students.
Since tuition is low for a community college, why is there still a need for scholarship assistance?
Most of our students are self-supporting adults and cannot leave the area to attend college. A great number of our students are single parents and/or work full time while juggling family and other economic responsibilities. For many students, a gift of $100 becomes the difference in continuing to pursue their career or not continuing at all. Indirectly your financial gift helps improve the economy and quality of life for the entire region.
What is the College Foundation?
FTCC Foundation, Inc. is a tax exempt 501(c)(3) charitable organization operating exclusively to promote the College’s educational and cultural purposes. Founded in 1984, the Foundation works to coordinate private giving to the College - identifying, receiving and managing gifts and financial resources from private sources.
How is the College Foundation accountable?
Maintaining public trust is central to the mission of the College Foundation and its highest priority. Policies, by-laws, activities, events and financial statements are openly discussed and governed by a Foundation Board of Directors comprised of community leaders. The Foundation meets a myriad of regulatory self-governing operations, as well as an annual audit by a licensed and professional certified public accounting film.
Who runs the Foundation?
The Foundation Board of Directors are chosen by a committee consisting of Board members who represent corporate, business, and public service leadership within our community. The College President, Board of Trustees Chair, members-at-large and Alumni President serve as well. All members serve without compensation and contribute their expertise and passion.
Why make an annual Campus Fund Appeal?
The annual Campus Fund Appeal is a very important piece of the fundraising efforts of the Foundation. The stronger our annual Campus Fund Drive support from our faculty and staff, the better able we are to solicit the community. Charity begins at home.
How can I make a financial gift?
You can give to the Campus Fund Drive through payroll deduction, cash, check or credit card. You can give a small amount each month which builds to a larger gift total.
Are all gifts tax-deductible?
You will receive a tax deduction for your gift.
USE OF DONATIONS
What happens to my donations?
Donors have the option of specifying programs to directly benefit from their gifts. This is a restricted gift. Many donors do not specify how they want their gifts to be used, and that enables the Foundation to apply the funds for scholarships and books, as well as to support educational programs and other educational initiatives for which funding is not available.
How much of my gift actually goes to the College?
Your entire gift goes to the College. The Foundation budgets a conservative amount of its annual funds to support annual development expenses, and all members of the Foundation Boards serve without compensation. Many services and materials are donated, and in-kind gifts are readily applied. None of your gift amount goes toward office space utilities, or technology overhead costs.
What are endowed scholarships?
An endowed scholarship provides a permanent source of funding for specific student a academic and need-based financial assistance-students who otherwise would not be able to afford college or university study. Since the principal of the endowed scholarships is preserved and only the interest is expended annually, the funds are perpetual. The assets are invested according to the Foundation's Investment Policy, and the fund growth is professionally managed and tracked for donors.
Making a gift to the College
How can I make a financial gift?
Individuals, couples, corporations and other organizations may contribute cash through an annual gift or via a pledge. Gifts may be as cash through a check, bank draft or credit card. Gifts may be appreciated securities or personal asset property. Planned gifts can include charitable trusts, gift annuities, bequests or paid life insurance.