Endowed funds assure that current and future generations of students benefit from a donor’s generosity. They also build the financial strength of an institution. The principal of these funds is invested in perpetuity by the Bluefield State College Foundation, and a portion of the earnings is distributed each year.
Endowed scholarships benefit students for perpetuity, and many are created to honor an individual whose life inspired the donor. Such memorials provide a legacy that lives on in the lives of students for generations to come, as well as in the individuals and communities that they affect through their work, families and citizenship.
Endowments grow through interest earned and additional gifts made after a fund is established. Bluefield State College Foundation encourages donors to help build the following endowed scholarships:
To make a gift to one of these endowments, send a check payable to Bluefield State College Foundation, Bluefield State College, 219 Rock Street, Bluefield, WV 24701.
For information on establishing an endowment, call 304-327-4031.
For applications to these endowed scholarships, contact the Office of Enrollment Management at email@example.com.
Annual contributions make an immediate impact on the lives of Bluefield State College students. These gifts are used in the fiscal year they are received and may be unrestricted or designated for a specific purpose.
These gifts support the Foundation’s Annual Scholarship Fund, which helps students with tuition, books and housing expenses. West Virginia donors can make gifts through the Neighborhood Investment Program, which offers tax credits through the state’s Development Office. These scholarships are given to disadvantaged students, most of whom are from neighboring counties.
Unrestricted giving is often overlooked, because donors of significant gifts (and even smaller ones) like to direct the use of their funds. Its importance, however, is vital. In basic terms, unrestricted giving pays the bills that nonprofits incur doing business and allows the organization to support opportunities for which designated funds are not in place. It's a gift that signifies trust in the Foundation Board and Executive Director, allowing them to decide how best to spend your generosity.
The primary source of unrestricted funds currently is the Blue & Gold Extravaganza. Started in 2008 to generate unrestricted income and enable local businesses and residents to donate gifts in kind, this annual event has become a popular way to enjoy food, fun and a silent auction.
Unrestricted gifts pay for the annual Bluefield State Postage Stamp Contest. The winning image is used as the Institution's official stamp and appears on ID cards and the Foundation's Facebook page during the following year. A limited edition is printed, and the Foundation gives a set to donors who have contributed $500 or more in the fiscal year as a token of appreciation. Additional sets of 10 are sold for $5.00, which does not fully cover the cost of production but keeps them affordable for the campus community and friends.
Unrestricted gifts also are used to make emergency loans to students that are repaid in the following semester. When such funds are limited, the Foundation is not able to help students who have unexpected car trouble, need to pay for books before their financial aid is paid, or encounter other unforeseen short-term problems. The costs of doing business paid by the Unrestricted Annual Fund include annual state registration, printing and catering for events. None are glamorous or necessarily interesting to a potential donor, but we can't do our work without them. Donors who make unrestricted gifts are true philanthropists, giving for the love of their fellows.
Most of the students who attend Bluefield State College, 70 percent, are first-generation college students, the first in their families to attend an institution of higher learning. Approximately 80 percent of our students receive some form of financial aid, including scholarships that are provided primarily by generous individuals and local businesses.
Endowed scholarships benefit students for perpetuity, and many are created to honor an individual whose life was dedicated to education. One of Bluefield State College Foundation’s most recent endowments was established in memory of Greg Shrewsberry, a former employee of the College who passed away in 2008 at the age of 46. Greg’s family and friends provided the funds to benefit graduates of Bluefield High School who are active in community service, as Greg was.
Students also have to pay for housing, textbooks and living expenses, and those in the health professions and engineering also have lab fees. For many, these costs are beyond their means and would prevent them from furthering their education to pursue careers in professional fields.
Scholarships open the door to a better life for these students, their families and their communities that benefit from an educated, productive work force.
Bluefield State College provides scholarships to these students through the Annual Fund and Endowments. By making a gift to these funds through the Bluefield State College Foundation, you are directly contributing to a healthy future for our students and their communities.
The Bluefield State College Foundation is a 501(c)(3) organization incorporated on February 6, 1969. It was formed to foster and promote the growth, progress and general welfare of Bluefield State College through the promotion and solicitation of gifts. The Foundation receives, administers and distributes the funds and properties donated to further the purpose of Bluefield State College. Betty Caroll is the Foundation’s Executive Director and the Director of Institutional Advancement & Planning for the College.
The Foundation provides scholarships and loans for Bluefield State College students as well as funds for the development of faculty and staff. It also supports the following:
The Board of Directors consists of 28 elected members. Each serves a 4-year term in staggered rotation so that each year the terms of seven directors expire.
|Ways To Give||
There are many different ways to make a gift and make a difference to Bluefield State College.
Outright gifts of cash are the simplest to make by check, credit card.
Publicly traded securities can be transferred to the Bluefield State College Foundation through physical delivery or by wire.
Gifts of real estate require investigation of marketability, mortgages or liens and environmental concerns prior to acceptance. Such gifts can be of great value to Bluefield State College. They can be made as outright gifts, as a will bequest or as a living trust, where the donor retains all the rights of ownership in his or her lifetime.
Life insurance is another excellent way to provide Bluefield State College the gift of a lifetime. Donors can name the Foundation as a beneficiary, or they can transfer ownership of universal or whole life insurance policies to the Foundation to receive a significant tax benefit while the donor is living.
Similarly, a donor can name the Foundation as a beneficiary of retirement plans such as individual retirement accounts (IRAs), Keogh plans, and 401(k) plans. These are highly taxed assets, and giving them to a nonprofit can be beneficial to heirs receiving the remaining assets. Recent Federal legislation permits donors to roll over up to $100,000 from an IRA directly to a qualifying charity such as Bluefield State College Foundation without recognizing the assets transferred as income during their lifetimes.
The simplest and most common way to make an estate gift is through a bequest. Donors need not rewrite their wills to include Bluefield State College as a beneficiary; it can be accomplished through an addendum called a codicil.
|Your gift to Bluefield State College makes a difference||
With your help, Bluefield State College is making education possible for West Virginians and others who could not otherwise attend an institution of higher learning.
We rely on gifts from individuals and businesses to help us provide practical education that prepares students for challenging careers. The State of West Virginia funds only about 25% of BSC’s budget, tuition and grants also support approximately 40% of our programs and operations.
Gifts from individuals make the difference in Bluefield State College’s ability to help students from disadvantaged backgrounds improve their lives through education. They also enable us to foster strong programs and keep pace with technology in a changing world. They help us attract and keep talented faculty who inspire our students. Gifts made to the Bluefield State College Foundation are used to build:
Your tax-deductible gifts directly benefit our students. By supporting the Annual Fund, you help us meet immediate needs. Endowments created through the Foundation assure the institution’s strong financial future as well as access to opportunities for our students for many years to come.
Please review the Ways to Give and make a gift today.
If you prefer to make a gift by check, please make it payable to Bluefield State College Foundation, Inc., and mail to 219 Rock Street, Bluefield, WV 24701. For more information, call (304) 327-4031.
Page 2 of 2