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Hudson Valley Community College, Foundation Receive $912,672 in Charitable Support in 2006-07
Contributions funded scholarships, academic programs, endowments

CONTACT: Sarah M. Boggess (518) 629-8071
FOR RELEASE: Immediate, Friday, Oct. 5, 2007

Philanthropic support to Hudson Valley Community College and its charitable foundation totaled $912,672 during the 2006-07 academic year.

Cash and in-kind donations came from corporations, faculty, staff, alumni and charitable foundations, and benefited a variety of the college’s academic programs, including high-cost programs in the allied health and technologies. Donations also funded more than $236,635 in Hudson Valley Community College Foundation scholarships. The awards, ranging from $75 to full-tuition books and fees, were given to more than 263 students studying everything from Electrical Construction and Maintenance to Early Childhood.

Hudson Valley Community College, and colleges throughout the country, annually report philanthropic support to the Voluntary Support of Education Survey, which is the authoritative national source of information on private giving to colleges and universities nationwide. The RAND Council for Aid to Education, a division of the RAND Corporation, has managed the survey as a public service for more than 50 years.

Corporate gifts totaled $445,836, which was nearly 49 percent of all charitable support to the college; that mirrors giving to community colleges and public institutions nationwide. General Motors (Raytheon) of Tarrytown, NY made the largest corporate gift, donating automotive equipment and tools valued at $51,906 to benefit the college’s automotive programs.

Albany Medical Center, DaimlerChrysler and U.W. Marx Construction made other significant corporate gifts. Albany Medical Center contributed $36,801 for its scholarship program for students pursuing health care-related associate’s degrees. General Motors donated automotive equipment valued at $32,550 to support the college’s Automotive Service Educational Program, which it partners with GM to offer. U.W. Marx’s gift totaled $20,000: $10,000 benefited the college’s Annual Fund and $10,000 supported the Construction Technology Fund.

The Foundation also received support from other charitable foundations, including $40,700 from the Second Chance Scholarship Foundation to benefit the Foundation’s Second Chance Scholarship Fund, which provides merit-based scholarships to students who have overcome tremendous personal obstacles to continue their education.

Founded by Angelo and Kathleen Mastrangelo, formerly of the Capital Region and now of Binghamton, the Second Chance Foundation has provided scholarships to more than 426 Hudson Valley students to date. The Second Chance Foundation is poised to surpass the $1 million giving mark in Fall of 2007. To celebrate Mastrangelo’s philanthropic milestone, an event honoring him was held on campus on June 7, 2007 which also unveiled the renaming of the Financial Aid Office to the Mastrangelo Financial Aid Center.

Unrestricted gifts from individuals, including alumni, faculty and staff totaled $113,424, which comprised 46 percent of the college’s Annual Fund. The Annual Fund –which had its most successful year with $244,325 raised – assists the college in meeting unmet needs and seizing unexpected opportunities.

The Foundation is a not-for-profit charitable corporation formed in 1983 to philanthropically support the college’s mission. Gifts from alumni, corporations and friends are used to enhance programs, facilities and scholarship opportunities.

Founded in 1953, Hudson Valley Community College offers more than 70 associate’s degree and certificate programs in four schools: Business; Engineering and Industrial Technologies; Health Sciences; and Liberal Arts and Sciences, as well as programs run through the Educational Opportunity Center offering certification programs in workforce and academic preparation. One of 30 community colleges in the State University of New York system, it has an enrollment of more than 12,000 students, and it is known as a leader in distance learning initiatives and worker retraining. Hudson Valley has more than 60,000 alumni.