Future's Fund Overview
The Future's Fund is being created to improve the foundation's capacity to meet the short-term and long-term needs of the college. Our goal is to build the Future's Fund over the next few years as we continue our fundraising and outreach efforts on behalf of Southeast Technical. The plan is to build a restricted endowment that will be invested into a diversified portfolio designed to protect the principal in perpetuity. Each year the foundation may utilize the interest earned from the investment to meet high priority needs of the college. In special cases, the foundation may withdraw funds from the principle to fund emergency projects or needs.
The components of the Future's Fund will consist of the following:
Scholarship Program: The majority of the money raised for the Futures Fund will be used to provide scholarship support for our students.
New Initiatives: Because the college is focused on creating new initiatives for our students on both of our campuses, the Future's Fund hopes to support these initiatives by allocating a portion of the dollars raised toward this effort.
Capital Needs: Capital projects will continue to be in need of funding at the college. As enrollment grows, there will continue to be a need for new and renovated space. A portion of the Future's Fund will be set aside to support small capital projects at our college.
Currently, the Southeast Technical College Foundation's endowment is more than $1.3 million. Many donors create endowments to leave a legacy that will continue benefitting Southeast Technical students, the college, and the community for years to come. The basic concept behind an endowment is that a percentage of the interest earned from the principal investment is utilized to support the intended purpose of the endowment with the remaining interest being reinvested in the fund. Endowments are often times referred to as the "gifts that keep on giving."