Looking Ahead...
While we take this opportunity to look back on the grants and events and donors who helped to make the past year outstanding in many ways, we must also look to the future in order to continue to meet the financial needs of our students, faculty, staff and college.
Our accomplishments
in the areas of grants and individual and corporate donations set
the stage for the Foundation to break new ground in fundraising.
We recently established a working relationship with Wachovia in the
area of Planned Giving when an anonymous donor expressed the desire
to donate $50,000 through a Charitable Gift Annuity. A Charitable
Gift Annuity provides an individual with the opportunity to make a
significant
contribution to a non-profit organization such as the Housatonic
Community Foundation while drawing quarterly income derived from the
interest
paid on the principal. The donor is still eligible for a tax deduction
on the donation. The Charitable Gift Annuity is just one of the many
fundraising avenues the Foundation will explore during the next few
years.
Another area of potential growth is the establishment of additional scholarship and endowed funds. Both Scholarship and Endowed Funds at the Foundation provide financial awards to needy students, while earning interest on the principal. This year, The Council of Churches of Greater Bridgeport, Inc. established the new CO-OP Center Scholarship, which provides tuition assistance for a student from the greater Bridgeport region. To be eligible, applicants must be an HCC student in good standing, an active member of the CO-OP Center, and have a demonstrated need for financial assistance. This scholarship will be implemented in the 2004-2005 academic year.
Pictured Above:
Janis M. Hadley, HCC President, and Barbara Johnson
and Dick Fagan of the Foundation presented commemorative plaques to
Gus
Serra
(far
left), Manager of Communication and Community Relations, and to Efun
Society members Vicki Brown (2nd from left) and Barbara Morrow (far
right).