Through the generosity of the Dane G. Hansen Foundation, the Northwest Tech Endowment Association has received a matching grant opportunity for the next three years. The college will be fundraising $150,000 per year in permanently endowed funds, with each contribution being matched dollar-for-dollar by the Hansen Foundation until the yearly goal has been reached.
The goal of the campaign is to raise funds for the long-term support of the college and students. “The gift from the Hansen Foundation is a great way to focus fundraising efforts on the long-term success of the college,” said Ben Schears, Northwest Tech President. “It’s an incredible opportunity for friends and supporters of the college to create a fund, have it matched, and double the impact of their gift.”
But what is an endowed fund? When donors establish an endowed fund, the gift and the matching dollars from the Hansen Foundation are invested, and the interest earned from the investment is used to fulfill the wishes of the donor. Oftentimes donors will establish a scholarship fund, while other donors create funds to support technical programs, equipment, facilities, and student emergencies, etc. The corpus (the donation and matching dollars) are protected and not spent, meaning the new fund will live on forever and impact future generations of Northwest Tech students.
For a fund to be considered fully endowed and start producing interest, the balance of the fund needs to reach a minimum $5,000. So, in this example, a gift of $2,500 from a donor would be matched by $2,500 from the Hansen Foundation and thus create a fully funded endowment. A larger gift of $10,000 would then be matched by the Hansen Foundation and result in a new fund valued at $20,000.
“We are blessed to continue to have strong support from the Dane G. Hansen Foundation for our programs,” said Schears. “We are fortunate to be able to provide an opportunity for community members, friends of the college, and alumni to support the college and have their gift matched.”
Those interested in creating an endowed fund to support Northwest Tech can contact Ben Schears at 785.890.1501 or Kelly James at 785.890.1568.