Hudson Valley Community College, Foundation Receive $771,323 in Charitable Support in 2004-05
Contributions funded scholarships, academic programs, endowments
CONTACT: Janine Kava (518) 629-8071
FOR RELEASE: Immediate, Tuesday, January 10, 2006
Philanthropic support to Hudson Valley Community College and its charitable foundation totaled $771,323 during the 2004-05 academic year.
That support – comprised of both cash donations from faculty, staff, alumni, foundations, corporations and friends, and gifts of goods from corporations – was used to enhance the teaching and learning environments at the college in several ways.
For example, $366,297 was invested in scholarships, which were awarded to 466 Hudson Valley students during the 2004-05 academic year. Scholarship awards ranged from $200 to full tuition.
Approximately $40,000 formed the basis of an endowment for the college's Disability Resource Center, which annually serves more than 500 students with disabilities. Another $21,000 was used to establish an endowment for the college's summer camps for children, which served nearly 700 children during the summer of 2005.
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 40 years.
Gifts from corporations totaled $368,039 and represented nearly half of all philanthropic support to the college, which follows the charitable giving pattern to community colleges nationwide.
Shaker Computer and Management Services Inc. made the largest corporate gift to the college. The gift, valued at $100,000, will allow technology students learn industry-standard, integrated project management system by giving their instructors access to the Latham-based company's Construction Industry Software. Known as COINS, the software provides contractors in construction and related industries with integrated financial management, project management, services management, and human resource management.
General Motors Corp. and U.W. Marx Construction made other significant corporate gifts. General Motors donated five transmissions and two engines – a total value of $22,905 – to the college's Automotive Service Educational Program, which it partners with GM to offer. U.W. Marx's gift of $20,000 benefited the college's Annual Fund, which assists the college in funding unmet needs and seizing unexpected opportunities, and the college's Disability Resource Center.
The Foundation also received significant support from other private charitable foundations. The largest foundation gift, totaling $69,650, was made by the Second Chance Scholarship Foundation, established by Angelo and Kathleen Mastrangelo to provide scholarships to students who have overcome tremendous personal obstacles to continue their educations. In 2004-05, 30 Hudson Valley students received Second Chance scholarships.
Gifts from alumni, faculty and staff totaled $97,849, which comprised 44 percent of the college's Annual Fund. The Annual Fund – which totaled $222,066 for the 2004-05 academic year – is comprised of unrestricted gifts from individuals and corporations, which can be used for the college's greatest needs.
The Foundation is a not-for-profit charitable corporation formed in 1983 to philanthropically support the college's mission. Gifts to the Foundation from alumni, corporations and friends are used to enhance programs, facilities and scholarship opportunities at the college.
Founded in 1953, Hudson Valley Community College offers more than 60 degree and certificate programs in four schools: Business; Engineering and Industrial Technologies; Health Sciences; and Liberal Arts and Sciences; and workforce and academic preparation programs offered through the Educational Opportunity Center. 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.