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See also: SCC Establishes Endowment to Provide Financial Aid to Students, by Scott Powell, Gaffney Ledger
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The Spartanburg Community College Foundation has established a new endowment fund with The Spartanburg County Foundation which will support the needs of Spartanburg Community College. In a presentation held on Thursday, June 29, SCC officials presented seed funding for the endowment to Troy Hanna, president and CEO of The Spartanburg County Foundation.
"This new endowment was established with many years of generous donations from supporters of SCC," said Bea Walters Smith, SCC's executive director of Advancement and the Foundation. "Marrying these funds into one account will provide unending support to the College and reinforces the mission of the SCC Foundation, which is to seek private and public resources to support the needs of students, faculty and staff of Spartanburg Community College. This is a new chapter in the history of the SCC Foundation and I am thrilled to be a part of it!"
Alan Shufelt, the SCC Foundation's financial manager, explained the purpose of the endowment is to work toward investing funds in perpetuity, unlike expendable funds typically used for immediate needs, so that the SCC Foundation has a permanent, self-sustaining source of funding. "In concert with our trust and partnership with The Spartanburg County Foundation, we expect these funds to grow through prudent investment management of our gifts, which in turn, will help to ensure the financial strength and stability of the college foundation," Shufelt explained.
SCC President Henry C. Giles said, "Thanks to these combined gifts and the excellent work of Troy and his team at The Spartanburg County Foundation, we have created a permanent financial legacy that will benefit so many in the years to come. I am appreciative to the SCC Foundation Board of Directors for their leadership in making this happen and in particular, Chair Bill Mayrose, Vice Chair Grant Burns and Alan Shufelt, for their foresight and financial responsibility in recommending the creation of this endowment."
Bill Mayrose, chair of the SCC Foundation Board of Directors, said, "The creation of this Spartanburg Community College Foundation Endowment is an exciting new step in the evolution of the foundation as it strives to meet the needs of Spartanburg Community College; it will provide an excellent means by which supporters in the surrounding communities can assist that effort."
"We at The Spartanburg County Foundation are honored to continue our long-standing partnership with Spartanburg Community College," said Troy Hanna, president and CEO of The Spartanburg County Foundation. "The Foundation takes very seriously its fiduciary role and responsibility as a reservoir of benevolent funds to benefit our community. We thank Spartanburg Community College Foundation for its support of and confidence in The Spartanburg County Foundation through the creation of this new endowment fund."
A photo of the presentation is available for download at the following link:
For more information on the SCC Foundation and additional giving opportunities, contact Bea Walters Smith at firstname.lastname@example.org, (864) 4448 or visit www.sccsc.edu/foundation.