Ridgewater College Foundation

Overview

The Ridgewater College Foundation is a 501(c)(3) nonprofit organization dedicated to raising funds to benefit Ridgewater College. As an independent entity, the foundation plays a crucial role in supporting the educational endeavors of the college.

Objectives and Activities

The foundation's primary objectives include managing over 350 distinct funds, administering scholarship programs, processing various types of donations (such as cash, checks, credit card transactions, and stock gifts), and providing comprehensive financial reporting. Additionally, it focuses on maintaining relationships with existing donors and prospecting new ones through stewardship activities like acknowledgments, special events, and communications. The foundation ensures donors receive detailed reports on fund activities annually.

Fee Structure

The Ridgewater College Foundation operates with a fee structure that includes two primary components:

• Administrative Fees: These fees, ranging from 0.5% to 2%, are applied annually to the endowment funds, based on the average fund balance as of June 30. The calculated amount is transferred to the foundation's unrestricted operating fund on July 1 of the subsequent fiscal year.
• Development Fees on Bequests: A one-time 5% development fee is assessed on bequest gifts, including both scholarship and endowed donations.

Support to Ridgewater College

The foundation supports Ridgewater College by facilitating scholarships, emergency resources for students in need, and various campus programs. Donations to the foundation are 100% tax-deductible and can be directed towards specific programs or scholarships, enhancing educational opportunities for students.

Programs and Funds

• Ridgewater Cares/Unrestricted Fund: Provides flexibility in addressing areas of greatest need, supporting student emergency grants, food pantries, campus programs, and scholarships.
• General Scholarships: Supplements insufficient scholarship funding to recognize more students' achievements.
• Specific Named Funds: Donors can contribute to established scholarships or specific programs.

Planned Gifts

Donors can support future generations through planned gifts like wills, charitable gift annuities, beneficiary designations, and trusts, offering both tax benefits and financial flexibility.

Impact and Legacy

By supporting Ridgewater College, the foundation contributes to the growth of a skilled workforce in Minnesota, particularly in high-demand technical and trade careers. Its commitment helps ensure accessibility, affordability, and inclusivity in education, aligning with Ridgewater College's mission to empower diverse learners.