The Chesapeake College Foundation is an independent, tax exempt 501 (c) (3) charitable organization operating exclusively for the benefit of Chesapeake College. It is composed of a Board of Directors residing in Chesapeake College's five-county service area, which includes Caroline, Dorchester, Kent, Queen Anne's and Talbot Counties. Its mission is to raise funds to assist the College in developing new projects, programs, and facilities, and in expanding and upgrading the existing academic services and physical plant. The President of Chesapeake College and the Chairperson of the Board of Trustees also serve on the Foundation Board. By its Charter and By-laws, the Foundation may not attempt to influence College policy or the manner in which the College is administered.
The goal of the Chesapeake College Foundation is to assist the College in maintaining fiscal stability. Currently, contributions are being made to five funds, which are managed by Mercantile-Safe Deposit and Trust Company. These funds are:
1. The Chesapeake College Endowment for Excellence is an endowed fund. Interest income from the fund may be used as a supplement to student tuition fees and public funding from the State of Maryland and the five counties in the Chesapeake College service area to address needs of the College that are beyond the scope of its operating budget.
2. The Chesapeake College Scholarship Fund is an endowed fund from which interest income will be used to provide financial assistance (for tuition, fees and textbooks) to students with demonstrated financial need and academic ability.
3. The Unrestricted Fund for the Center for Business and the Arts is a non-endowed fund that will be used to complete and expand the Center for Business and the Arts.
4. The Donor Restricted Fund for the Center for Business and the Arts is a non-endowed fund that will be used to equip the Center in accordance with the purposes specified by the donor.
5. The Unrestricted General Fund is a non-endowed fund that will be used to support College initiatives not fully funded in the operating budget.
All donations to the two endowed funds are invested, and the interest income will be used by the College to fund various initiatives, from scholarships through new programs and initiatives not fully covered by the operating budget to building campaigns. The corpus, or original donation, is preserved.
Donations to the non-endowed funds will be used as money is accumulated to fund a particular initiative, such as an upgraded sound and light system, Performing Arts Lobby furniture, or other College needs. The Foundation is only one of your contribution options, but one you may want to consider to help Chesapeake College increase its long-term fiscal stability and flexibility.
To make a pledge, please download the PDF, or contact Lauren Halterman at (410) 827-5818