virginia-community-college-system-board-meeting-agenda-september-23-2021_802.md
VWCC Endowment Transfer to Educational Foundation
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Description
The State Board for Community Colleges is asked to authorize Virginia Western Community College to transfer $145,000 in Title III 'GetREAL' grant funds to the Virginia Western Community College Educational Foundation over multiple years. The transfer, matched by the Foundation, will establish a $290,000 endowment to support college scholarships and programs.
Contract Details
Contract Amount
$145,000 (total; $50,000 Year 1, $50,000 Year 4, $45,000 Year 5)
Vendor
VIRGINIA WESTERN COMMUNITY COLLEGE EDUCATIONAL FOUNDATION
Agency
Virginias Community Collages, VA
Contract Type
FINANCIAL_SERVICES
Document Date
September 23, 2021
Contract Term
Multi-year transfers in Years 1, 4, and 5 of Title III grant
Renewal Info
One-time endowment challenge grant transfer with scheduled installments; no renewal or extension terms stated.
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