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During Fiscal Year 2008, the Mt. San Antonio College Foundation
Board of Directors provided leadership, governance and
support enabling the Foundation to achieve
new heights of success. Most notably, the Foundation
achieved a record income of $1,384,530 — making
2007-08 the most successful year ever.
Growth
Foundation net assets grew by effectively
managing endowed funds and by containing operating and
fund-raising expenses well below the norm at 20% and
9% (of total revenues) respectively, thereby maximizing
the effect of donor gifts fo r scholarships and campus
projects.
A new record was also set this year in funding
student scholarships. Over $174,850 was allocated for
164 stude nt scholarships—an increase
of 60% over the prior year. During the year, significant
new dollars were received for scholarships, thereby
enabling the Foundation to fulfill its mission of assisting
even more Mt. SAC students with scholarships based on
both fina ncial need and scholastic achievement.
In
a challenging economy for giving, Foundation fund-raising
events continued to thrive with more people atten ding
and increased net income over previous years.
Alumni
Relations
Over the past 62 years, more than a million
people have attended Mt. SAC. The College has made a
renewed commi tment to finding our “lost
Mounties” and engaging our alumni in activities
related to the success of the College, including an
alumni-based mentoring program, alumni job search and
career assistance, as well as alumni gatherings where
grads and friends can rec onnect in the Mountie spirit.
See www.mtsacfoundation.org/alumni for more details
about reconnecting with Mt. SAC.
Challenges Ahead
Last
May, the largest gift ever received by a community college
system was given to the California Community College
Foundation, designating each of the state’s 110
community colleges to receive scholarship funding based
on enrollment. As one of the largest community colleges,
Mt. SAC’s
endowment from the Bernard T. Osher Foundation will
result in a significant increase in future scholarship
funding. However, the Mt. SAC Foundatio n must match
2:1 the Osher scholarship dollars, creating the greatest
fund-raising challenge to date for us and our community.
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