(252) 222-6000 | 3505 Arendell St., Morehead City, NC 28557
Through corporate giving, foundation grants, in-kind property donations, marketing activities, and corporate sponsorships, the business community plays an important role in helping the Carteret Community College Foundation (Carteret CC Foundation) support and advance Carteret Community College (the College) and its mission.
Many opportunities exist for corporations and charitable foundations of all sizes to support existing College programs and operations, and these gifts can be designated for certain programs or initiatives or assigned as unrestricted giving.
Many employers have matching gift programs, which enable an employee’s contribution to be “matched” by that company. In some cases, the donor may also be an employee’s spouse or retired employees, and the gift will still be matched.
We welcome the opportunity to be a part of your business’s giving campaign. The Foundation is happy to come and speak to your group about the various ways to support and get involved with Carteret Community College.
Establishment of a permanent endowment with the Carteret CC Foundation is a unique privilege of honor to provide perpetual funding for a valued purpose. The endowment funds are invested by the Carteret CC Foundation to provide continuing income for the stated purpose determined by the donor.
There are two types of endowments offered by the Carteret CC Foundation:
This overall and permanent endowment fund provides funds annually to support financial priorities of the College as determined by the Foundation Board of Directors and College Leadership. The Board of Directors identifies the percent of the fund and interest that is to be allocated toward the priority needs. Gifts directed to an endowment, but not allocated to a specific named endowment fund, are applied to this fund.
We would be pleased to work with you if you have interest in creating a new Named Endowment Fund. Options include:
Scholarship Fund. The Carteret CC Foundation manages more than 75 Named Endowment Scholarships that are fully endowed and funded at or exceeding the $10,000 threshold. Donors are able to establish specific criteria for award of the scholarship within the policy guidelines adopted by the Foundation.
Special Purpose Fund. A Named Endowment Fund can also be established to provide perpetual funding for gift priorities other than student scholarships. Opportunities include but are not limited to the support of community/performing arts at the College, high technology equipment, faculty positions, student leadership, faculty professional
development, or learning resources.
There are multiple ways to provide annual support offered by the Carteret CC Foundation:
Donors who do not direct or restrict their gift will have their gift allocated to this fund. Monies within the Unrestricted Annual Fund are applied to supplement scholarships or other fund allocations where necessary, to the annual Foundation budget, and generally provide the financial cornerstone for Foundation operations and priorities. The allocations are according to the approved budget and/or Foundation decisions or other directives of the Foundation Board of Directors.
The Carteret CC Foundation would be pleased to set up a naming opportunity for you to award an annual scholarship to one or more deserving students. To establish a Named Annual Scholarship, a commitment of $500 per year is needed to enable the scholarship to be appropriately named and acknowledged. As with a Named Endowment Scholarship, donors are able to establish specific criteria for award of the scholarship within the policy guidelines adopted by the Foundation.
Supporting the Carteret CC Foundation can occur in the form of a memorial gift or a tribute gift made to honor or memorialize a loved one or a person of special relationship. The gift can be a cash donation to the Annual Fund, initiation of a named endowment, an annual scholarship fund or a directed contribution to a particular need or desire.
To make a property gift donation, please contact the Foundation Office at (252) 222-6262. Property gifts can consist of the following:
Consumable Property. Examples of consumable gifts that the College can use include office supplies; office equipment; construction materials; maintenance supplies; landscaping materials; or technical equipment for instructional purposes.
In-kind Property: The Carteret CC Foundation can accept but not limited to in-kind property gifts including landscaping materials, equipment, or other major supplies.
Asset Property: These gifts, such as real estate, art collections, jewelry, antiques, boats, automobiles, life insurance, or other tangible items are intended to be presented for their monetary value or as part of an estate plan. The Carteret CC Foundation typically sells such gifts, with the sale monies going to the College Foundation as a cash value contribution.
Donors may choose to make outright gifts and pledges in the form of appreciated securities or stocks rather than cash. Your broker can transfer the stock from your account to that of the Carteret CC Foundation, via electronic transfer.
You can set aside a portion of your estate, contact and work with a
professional estate planner. Some of the most popular ways you can provide a charitable contribution through estate planning include:
Bequests. Bequests can include gifts of cash, life insurance, retirement assets, or securities. They can be especially meaningful because they provide long-term support that strengthens the College’s ability to meet future challenges. Bequests are typically made and affirmed in one’s will, trust, or estate plan, and they can be changed over the years, as may be necessary to reflect different commitments.
Charitable Gift Annuities. Annuities are a way for donors to benefit the College while receiving income for life, along with significant tax advantages. As a donor, you can have payments begin now or postpone them for payout at a future time.
Charitable Remainder Trusts. Trusts are legal agreements that specify how assets placed will be managed. This approach is a way to achieve a variety of goals as a donor, while providing income for life — as well as knowing that after your lifetime, the remaining assets will be used exactly as you specified. The trust can be set up as a unitrust in which the income fluctuates annually with the market value; or the trust can be an annuity in which income payments are fixed and as determined when you make the gift.
Please consult your estate planning attorney for assistance on determining what is best for you.
Carteret Community College Foundation, Inc.
3505 Arendell Street
Morehead City, NC 28557
Tax Identification No.: 51-6089453