VSCC_WB2012_00009.jpg

Foundation

FAQ

Is there an administration fee for my gift?

There is NO administration fee.  100% of your gift goes to its intended purpose.  Volunteer State Community College pays all administrative cost for the Volunteer State College Foundation.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions you have concerning donating to the Volunteer State College Foundation.

Is my gift tax deductible?

Contributions to the Volunteer State College Foundation are tax deductible by donors under IRS Code sections 170(b)(1)(A)(ii) and 170 (b)(1)(A)(v).  Most gifts are considered charitable contributions in whole or part. The fair market value of any goods or services (auction items, tickets, etc.) you receive in return for your gift are deducted from the gift amount. You should consult with your accountant for specific guidance on your gift.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions.

As a donor, must I pay the full amount of a gift at once or can I make installment payments?

Pledge gifts can be paid in installments over a period of time. The Foundation will customize a payment schedule to meet your needs.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615-230-3505 or karen.mitchell@volstate.edu with any questions.

What kind of assets can I give?

Volunteer State College Foundation accepts a wide range of gifts, including, but not limited to, cash, securities, real estate, personal property (art, jewelry, collections, etc.), equipment, intellectual property, mineral rights, oil and gas interests, timber, cattle, or limited partnership interests. All gifts are subject to review by the college's Gift Acceptance Guidelines.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions.

I'm not affiliated with Volunteer State Community College, but your institution interests me for personal reasons. Can I make a gift?

Anyone can make a gift to the Volunteer State College Foundation. Your gifts will make a difference in the lives of our students for years to come.  All gifts are gratefully received and deeply appreciated.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions.

How do I establish an endowed scholarship?

Scholarships are a critical area of need for Vol State students, and remain one of the most gratifying giving opportunities for our donors. Donors may set up an endowment to fund a specific interest. An endowment requires that the principal remain intact in perpetuity, or for a defined period of time or until sufficient assets have been accumulated to achieve a designated purpose; in this case scholarships.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions.

If I establish a scholarship, will I be involved in the selection of student recipients?

Donors may establish the criteria for their scholarship but do not participate in the final selection process due to IRS regulations.  Volunteer State College Foundation maintains a scholarship committee that reviews applications and makes the final determination. Donors receive a thank you letter from their recipient and are encouraged to meet them.

You may contact our Vice President of Resource Development and Executive Director of the Foundation, Karen Mitchell, at (615)230-3505 or karen.mitchell@volstate.edu with any questions.