Frequently Asked Questions
As a public institution, why does Northwest College need a foundation?
Public
colleges and universities need external sources of funding to minimize
tuition and fee increases for students. Supplemental private giving
has become essential to maintaining the margin of excellence that distinguishes
exceptional programs from merely adequate ones.
Is the NWC Foundation part of the College?
Legally separate from the
College, the NWC Foundation is a private, nonprofit corporation which
is tax-exempt under Section 501 (c)(3) of the IRS code. It is operated
by a 33-member board of directors within the framework of an agreement
between Northwest College and the Foundation. This separation guarantees
donors that:
• designated gifts will be used solely for their intended purpose,
• there is accountability for uses of unrestricted funds,
• all records will remain as confidential as donors wish, and
• the Foundation is free to make investment decisions regarding
the funds it manages.
What percentage of the college's budget is provided by the State of
Wyoming?
Approximately 63 percent of NWC's Operating Fund revenues come
from state appropriations.
What proportion of funds raised by the NWC Foundation is spent on
fund raising and foundation administrative costs?
In 2005, the cost
to raise a dollar for Northwest College was 12 cents. The national
average is from 19 to 21 cents.
What economic benefit does Northwest College bring to the local economy?
A
study completed in 2002 by CCbenefits Inc. indicates that for every
$1 Northwest pays for wages and salaries, there is another $0.31 in
wages and salaries generated in the surrounding communities (the multiplier
effect). For the 2005 fiscal year, NWC paid faculty and staff wages
of $7.9 million.
How and by whom is the Annual Campaign money spent?
In most cases,
donors make gifts for specific interests — to
create scholarships or support academic programs, for example. A gift
is restricted when the donor writes on a check, reply card or other
correspondence indicating how the gift is to be used. The designation
of a gift is confirmed on the receipt returned to the donor. Expenditures
of these gift funds must be for purposes that meet the guidelines established
for each account.
When it comes to unrestricted funds, the Foundation staff and board
work with institutional leaders to identify high priority activities.
What is the value of assets held by the NWC Foundation?
As of December
31, 2005, the fair market value of Foundation's total net assets was
$11,190,373; much of this is restricted by donor designations (see Financials).
How are scholarship donations allocated and who decides which students
receive money?
Scholarship donations that are earmarked for specific
academic disciplines are allocated to the appropriate area; general
scholarship dollars are generally divided among academic and activity
areas based upon past enrollment patterns. Faculty play an integral
role in selecting scholarship recipients at Northwest College. In addition
to written application materials, a Scholarship Day event in February
provides potential students the opportunity to interview with faculty
from their chosen field of study.
What projects has the NWC Foundation funded?
In the early years of
the Foundation, acquisition of land to enable campus expansion was
a priority. Subsequently, the Foundation has continued to promote the
growth of Northwest by securing funds to complete many capital construction
projects and award student scholarships.
Total contributions to Northwest
from the Foundation were $709,859 in 2005 of
which approximately half the funds were dedicated to scholarships.
Contributions were also to support student employment, purchase of furniture for the new Cody Center and building projects
at the A.L. Mickelson
Field Station.
See History and Financials for more details of support to Northwest College.
What are
Northwest College's current funding needs?
Planning for specific capital
and endowment projects to benefit Northwest is occurring under the
leadership of the college's new President. Scholarship funds to aid
the college in recruiting and retaining a stable student population
are critical to the institution. Unrestricted gifts to the Foundation
allow the Board of Directors to strategically assist the college through
its grant programs as special needs arise.
Why should I give to the NWC Foundation?
Expert teaching, scholarships
and exceptional learning opportunities are just a few of the things
your gift can provide to students. And as an added benefit, Northwest
College positively affects our local communities economically and culturally.
Donations to the NWC Foundation allow you to be in touch with the future
in a variety of ways.
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