Clear, 64° F
Northwest College board trustees approved last week the college accepting a $1 million grant from the state for the Northwest College Foundation as a matching fund for donations raised.
…
This item is available in full to subscribers.
The Powell Tribune has expanded its online content. To continue reading, you will need to either log in to your subscriber account, or purchase a subscription.
If you are a current print subscriber, you can set up a free web account by clicking here.
If you already have a web account, but need to reset it, you can do so by clicking here.
If you would like to purchase a subscription click here.
Please log in to continue |
|
Northwest College board trustees approved last week the college accepting a $1 million grant from the state for the Northwest College Foundation as a matching fund for donations raised.
Foundation Executive Director Shelby Wetzel said half of the money will be used to help finish off the foundation’s total payment of $2.6 million it’s preparing to make to help pay for the new student center construction, while the rest will go to other programs such as endowed scholarships.
NWC President Lisa Watson said it would be a way to continue to build up endowed scholarships to make up for the loss years ago of many scholarships given out for athletics programs. Money will also be set aside as matching funds for departmental programs, such as those not fully funded during Giving Day.
As for the student center payment, Wetzel said the $500,000 and some final work to bring in some more large donations already identified would meet the $2.6 million total.
“Being able to close out that campaign, which I think we're at that point and when you think about the completion of the building it makes sense,” Watson said. “It's amazing to be able to wrap up the campaign with funds that have been raised that can be matched as far as that goes.”
While state matching funds are nothing new and the college has received larger amounts before, this money still came at a fortuitous moment.
Going into the NWC Giving Day event, the foundation was still more than $700,000 short. On that day alone a record amount of giving added $125,000 for the student center project out of $175,000 raised. Most of the rest will go to programs in other departments donors could directly give to, such as money for a drone program and partnership with a local company in the ag department.
That chunk for the student center, combined with half of the $1 million in matching funds from the state and the few large donations Wetzel is pursuing, she said will allow for the foundation to make large payments to the college in time to help pay for the rest of the more than $23 million student center project.
The new student center is scheduled to be completed in late fall.
