Foundation Goals and Initiatives

The Foundation supports the College through the Foundation’s Scholarship Program while being a conduit for businesses to make in-kind contributions designed to enhance our academic programs.  The Foundation raises funds through annual campaigns, events, unsolicited gifts, and major gifts through estate planning or outright gifts to establish an endowment.  Our fundraising goals from FY2010 through FY2013 are broken down into unrestricted gifts, temporarily restricted gifts, and endowment growth.  The goals for each revenue stream are as follows:

Unrestricted Gifts:

Unrestricted gifts come through alumni appeals, faculty and staff campaigns, business drives, and events.  Goals are as follows:  FY 2010 $67,000, FY2011 $70,000, FY2012 $73,500 and FY 2013 $77,000.

Temporarily Restricted Gifts:

Temporarily restricted gifts typically come in the form of named scholarships.  Donors that wish to have a names scholarship donate $1,000 annually.  Goals are as follows:  FY 2010 $10,000, FY2011 $10,500, FY2012 $11,000 and FY 2013 $11,500.

Endowment:

The goal of the Southeast Technical Foundation as determined by the board of directors at its August 2008 strategic planning session is to increase its endowment by $1.3 million between FY 2010 through FY 2013.

The Foundation has created the Future’s Fund as a board restricted endowment designed to meet the ongoing needs of our scholarship program and to meet other current and future needs of the College and Foundation such as: new initiatives, capital projects, faculty development, programmatic needs, or emergency student loans just to name a few of the possibilities.  Gifts into the Future’s Fund will be invested within our normal investment practices and a percentage of the fund will be made available for scholarships and other Foundation and College needs.  The usage of the Fund will be determined by the board of directors of the Foundation.