MCC Foundation Endowment Guidlines
Giving to an endowment fund is an excellent way to ensure that your gifts will keep on giving in perpetuity to the needs of students, faculty and the facilities at MCC. The MCC Foundation Endowment Funds are professionally managed, following guidelines developed by our Investment Committee. For information on the current projects at MCC, please contact Harry Harelik at 299-8606.
Through an endowed fund, a donor may name a family, individual or business as a permanent title to a scholarship fund. That fund corpus is never spent and only the income is used to fund scholarships. Therefore, the fund remains forever, funding one or more scholarships each year after being fully funded. The minimum necessary to fund an endowed fund is $10,000 for funds initiated through December 1, 2005, and $15,000 for funds initiated after January 1, 2006. Funds may be built over a period of time, but it is suggested that an endowed fund be complete within five years of the initial contribution. Cash and non-cash gifts may be used to build the fund.
