Endowments provide the purest form of investment in the future. Only interest generated annually will be used to support programs, personnel, and scholarships with the principal held intact for perpetuity. Endowments also form the basis for the vast majority of planned gift designations.
Over 50 endowments exist at Madisonville Community College, including:
- Student Scholarship Endowments
- Arts Programming Endowments
- Loman C. Trover Library Program Endowment
- Muhlenberg County Endowment for Excellence
- Crittenden County Endowment for Excellence
Degree programs such as nursing, physical therapist assistant, radiography, business administration, and advanced industrial integrated technology must stay up-to-date with changes in technology to be successful career tracks. Access to up-to-date computer technology across the curriculum is vital. An endowment devoted to technology support, equipment replacement, and employee excellence enables the college to produce job-ready graduates at the associate degree level and students better able to succeed at the four-year level.
Approximately $34,000 is available for support each year through the Quality Endowment, $10,000 for professional development opportunities and $24,000 for technology and faculty wage support.
Current market value: $720,000
The college has numerous scholarship endowments and annual fund programs that serve between 325 350 students each academic year, including over 70 students who are enrolled in allied health curricula. Our average scholarship award is about $1,050 per year. Increased endowment holdings would obviously help more students attain a college credential; over the past 24 months MCC has been successful in creating numerous new scholarship opportunities, including new awards in all areas of allied health, increased awards in the Applied Industrial Integrated Technology Program, School Counts in both Hopkins and Muhlenberg Counties, increased transfer opportunities, and scholarships reserved specifically for Muhlenberg and Crittenden County residents over the age of 21.
The Advancement Office works closely with program faculty and the Financial Aid Office to secure awards for those most in need and those with a high academic standing. Contact the Financial Aid representatives at 824-8578 or 824-8591 to learn more about specific scholarships and any restrictions for each award. Current fund balance: $5.5 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 $3 million would provide greater fiscal stability, especially in the programming of community theater.
Current arts endowment market value: $2.2 million, including associated trusts
Local programming featuring western Kentucky residents is a real priority at the Glema Center. Pictured above are several members of the cast of Hairspray, a musical production that was featured in July 2010.
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 $2 million would provide Madisonville Community College with $50,000 in site support and $16,000 for scholarships. The Muhlenberg Endowment for Excellence currently provides $45,000 annually for tutorial wages, arts programming support, and scholarships.
Pam Pollard of Central City, and Lacey Opp, of Weir (both pictured) are two of the many students who live in Muhlenberg County supported academically with private scholarships.
Current fund balance: $1.1 million
For Academic Years 2013 and 2014, $9,000 will be available for scholarship distribution. The Crittenden fund now has a market value between $200,000 and $225,000, and the college hopes to have $300,000 in the bank by 2015. The long-term goal of the Crittenden County Endowment for Excellence is to offer 12, $1,500 scholarship awards each and every academic year for youth and adult residents of Crittenden County.
The James and Bonita Hatfield family have supported Crittenden County scholarships for 10 years. Pictured to the left are MCC President, Dr. Judy Rhoads; Jason Hatfield; Carl Hatfield; Bonita Hatfield; and KCTCS President, Dr. Michael McCall. The Hatfields were recognized as KCTCS Benefactors at the 2011 gala.
Current fund balance: $205,000
Webster and Caldwell County Scholarships
The advancement office has recently expanded scholarship opportunities for graduates of Caldwell and Webster County High Schools. $1,100 annual awards are available on a limited basis; contact the Scholarship Office at 270.824.8591 of the Advancement Office 270.824.8593 for more details.