Frequently Asked Questions
What is the Hawkeye Community College Foundation, Inc.?
The Hawkeye Community College Foundation receives, manages, and invests contributions and bequests to Hawkeye Community. It also distributes the principal and/or income from gifts to funds that support Hawkeye, either as directed by the donor or based on greatest need.
The Foundation is a non-profit organization that supports the education and development needs of Hawkeye Community College students, faculty, and staff by providing resources not available through public funds. The Foundation is organized and operated exclusively for charitable, scientific, and education purposes in accordance with Internal Revenue Code Section 501 (c) (3).
Why does Hawkeye Community College need private support?
Presently, the State of Iowa and local tax revenues provide less than 50% of Hawkeye's total operating budget. Tuition and fees comprise the largest portion of revenue. Many of the needs of Hawkeye cannot be met without this private support to supplement revenues. The Hawkeye Foundation supports Hawkeye in four crucial areas:
- Faculty and staff professional development
- Departmental programs
- Equipment purchases
What are my options for giving?
Cash gifts are the most common form of giving and are as easy as writing out a check to the Hawkeye Foundation. Gifts of stock or other securities, personal property, real estate, and life insurance policies are also welcome gifts. Planned giving options include charitable trusts, gift annuities, and bequests and will provisions. Many employers will also match gifts made by their employees to Hawkeye.
What is an endowment?
Many individuals who provide a significant gift to the Foundation choose to create a named endowment fund to ensure that the principal is never spent. An endowment is an account where the interest earned from the principal provides a permanent source of funds for a particular purpose at Hawkeye. Interest may support scholarships, faculty and staff development, equipment purchases, or a special project.
What naming gift opportunities are available at Hawkeye?
Donors have an opportunity to associate the name of a family or individual with a project or program of lasting worth. Buildings, rooms, labs, equipment and other objects may be named based on the size of the gift.
Who decides what the priorities are for funds raised?
After consulting with faculty leaders, the executive staff, and the Board of Trustees of the College, the Foundation Board determines which projects become priorities for fundraising.
May I designate how my gift will be used?
Yes! You may designate support to departments, programs, projects, or you may choose to establish a scholarship fund or endowment. You may also choose to leave your gift unrestricted, which means support is provided to the area of greatest need.
How much of my gift actually goes toward the project I want to fund?
100% of every gift goes directly to support the program specified by the donor.
What is the difference between unrestricted and restricted gifts?
Unrestricted gifts offer the donor the opportunity to assist programs and projects where the need is greatest. Many of these projects are high priority projects for which state funding and other resources are insufficient.
Restricted gifts are for specific purposes such as scholarships, specific departmental programs or equipment, or building projects.
The Hawkeye Foundation welcomes both restricted and unrestricted gifts.
Can I receive a tax deduction for equipment or supplies I give to the Foundation?
Yes, if the academic department receiving the equipment or supplies determines the donation is usable. An in-kind donation form is completed by the department and forwarded to the Foundation who must officially accept the gift. For IRS purposes, the value of the donation is set by the donor.
Does the Foundation make grants?
The Hawkeye Foundation is a fund-raising rather than a fund-granting institution. Most of the gifts it receives have been designated by donors for specific purposes and are restricted for these purposes. The unrestricted gifts the Foundation receives are allocated to needs of Hawkeye.
How is the Foundation governed?
The Hawkeye Foundation is governed by a volunteer board of not less than fourteen nor more than twenty-five elected directors volunteering from business and the community. Two additional members of the Foundation Board are appointed by the Board of Trustees. The President and Vice Presidents of the College and the Executive Director of the Foundation serve as ex-officio (non-voting) directors. The Foundation's day-to-day operations are administered by the Executive Director of the Foundation.
Hawkeye Community College
1501 East Orange Road
P.O. Box 8015
Waterloo, IA 50704-8015
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