Endowments provide the purest form of investment in the future. Only interest generated annually will be used to support programs with the principal held intact for perpetuity. Endowments also form the basis for the majority of planned gift designations.
Over 50 endowments exist at Madisonville Community College, including:
- Quality Endowment
- Student Scholarship Endowments
- Arts Programming Endowments
- Loman C. Trover Library Program Endowment
- Muhlenberg County Endowment for Excellence
- Crittenden County Endowment for Excellence
Quality Endowment
Degree programs such as nursing, physical therapist assistant, radiography, business administration, and engineering technology must stay on the cutting edge of technological change. Moreover, access to up-to-date computer technology across academic curricula is growing ever more important. An endowment devoted toward technology, equipment replacement, and continued professional development better enables the college to produce graduates who are ready for the technical demands of today's job market.
Madisonville Community College’s professional development program is unique because it is entirely supported by endowment income. Funding is determined by proposal submissions and is open to all college employees. Annually, $15,000 is available for professional support and development of leadership projects; $30,000 is available for equipment technology purchases and other academic support.
Current market value: $655,000
Student Scholarship Endowments
Over 80% of students who attend Madisonville Community College receive some form of financial aid. Students can expect to pay over $1,400 per semester in tuition for a full-time course load. A $3 million scholarship endowment fund would assist over 400 academically-talented and/or financially-disadvantaged students each academic year.
Madisonville Community College serves between 180 and 200 students through private support each academic year, including more than 60 students enrolled in allied health curricula. Our average scholarship award is $1,200 annually. Contact the College's financial aid office for more endowment information.
Current fund balance: $3 million
Arts Programming Endowments
The Glema Mahr Center for the Arts offers our region a rich diversity of artistic talent and quality entertainment and arts education opportunities for area elementary students that is recognized nationally. Ticket revenue is not enough to keep the center's programs available for all. Endowments provide additional funding to enable the Glema Center to bring the highest quality cultural programming and arts education opportunities to our community and region. An endowment fund balance of $750,000 would provide greater fiscal stability, especially in the programming of community theatre.
Fifth Third Bank and financial center managers John Perdue, Melissa Vanover, and Brandy Wells have supported the Center Stage Series through annual sponsorship gifts for 15 years. Fifth Third contributions to the Friends of Glema Mahr Center for the Arts annual fund have supported performances by artists such as Marie Osmond, The Kingston Trio, Jack Klugman in On Golden Pond, Johnny Rivers, Percy Sledge, Motown Memories Review, and Lady Antebellum.
Current arts endowment market value: $685,000
Loman C. Trover Library Program Endowment
The Loman C. Trover Library supports college curriculum and provides access to materials and services designed to promote student success. The library also serves as a resource to other libraries and area institutions and is frequently used by members of the community for research beyond that available at local public and school libraries.
Current fund balance: $60,000
Muhlenberg County Endowment for Excellence
Over 23% of MCC students are Muhlenberg County residents. Many of these students need financial assistance. The Muhlenberg County Campus offers the citizens of Muhlenberg, Ohio, McLean, Todd, and Butler counties numerous educational opportunities. An endowment devoted specifically for Muhlenberg programming helps sustain the "Muhlenberg Miracle" that was first initiated in 1994. An endowment of $1 million would provide Madisonville Community College with $50,000 in site support and $20,000 for scholarships. The Muhlenberg Endowment for Excellence currently provides $45,000 annually for tutorial wages, arts programming support, and scholarships.
Current fund balance: $725,000
Crittenden County Endowment for Excellence
For academic year 2009, $10,000 will be available for scholarship distribution through the Crittenden County Endowment for Excellence. The fund now has over $165,000 cash in the bank, and the Advancement Office estimates that over $11,000 in interest income will be earned during the next 12 months. Pictured with a ceremonial check announcing the 2009 award total are individuals who have made multi-year commitments to the drive, from right to left, seated, Bonita Hatfield, a member of the college advisory board, Jim Hatfield, Roger Simpson, Dulcie and Gareth Hardin, and seated, Randa Simpson.
Current fund balance: $165,000