Frequently Ask Questions
Why Does Northern Essex Community College Need Private Support?
Presently, the Commonwealth of Massachusetts provides less than 50% of the College’s total operating budget. The Office of Institutional Advancement, in collaboration with the NECC Foundation, the Women of NECC and the NECC Alumni Association conducts a wide variety of fundraising activities to augment this funding and opportunities for our students.
How Do Private Contributions Help the College?
Your donations allow the college to offer scholarships to students – over half of whom need financial assistance in order to attend classes. Your donations also help the college to purchase new equipment and add new programs and services.
What Are My Giving Options?
The NECC Foundation receives gifts from individuals, corporations, and foundations. These gifts may be cash given through an annual gift or pledge. Other methods of giving include stock, personal property, and real estate. Charitable trusts, gift annuities, bequests and will provisions, and paid up life insurance policies are examples of deferred gifts. Many corporations will also match gifts made by their employees to NECC.
What Are the Different Ways I Can Make My Gift to NECC?
You may donate online or call us at 978-556-3624 to make your credit card gift over the phone. Mastercard or Visa gladly accepted.
Check: Checks can be made out to “NECC Foundation, Inc.” and mailed to:Jean C. Poth, Vice President
Northern Essex Community College
100 Elliott Street
Haverhill, MA 01830
Other: Pledges, in-kind donations or Planned Gifts must be coordinated through Jean C. Poth, Vice President Institutional Advancement, (978)556-3624.
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 to support specific types of students. You may also choose to leave your gift unrestricted, which means support is provided to the areas of greatest need.
Are All Gifts Tax Deductible?
Gifts to the Northern Essex Community College Foundation, Inc., a 501(c)3 charitable organization, are fully tax deductible to the extent allowed by law. You should consult with your tax attorney or financial adviser.
Can I Receive a Tax Deduction for Equipment or Supplies I Give to the College?
The academic department receiving the equipment or supplies must first determine if the donation is usable. An in-kind donation form needs to be completed and submitted to the Office of Institutional Advancement and the donation must be officially accepted by the College’ s Board of Trustees. For IRS purposes, the value of the donation is set by the donor. Click here for our NECC Inkind Donation Form (PDF).
What Is the Difference Between Unrestricted and Restricted Gifts?
Unrestricted gifts provide a pool of funds to NECC that are not restricted to specific program uses. These gifts provide resources for scholarships, incentive grants, faculty & staff professional development and special projects.
Restricted gifts are for specific purposes such as an endowed scholarship, special departmental programs or buildings. NECC welcomes both restricted and unrestricted gifts. Unrestricted gifts are especially important and will provide support to the areas of greatest need.
What Is an Endowment?
An endowment is an account where the interest earned from the principal provides a permanent source of funds for a particular purpose at the College. Interest may support a scholarship, faculty professional development, equipment purchases or special projects. Because an endowment’s principal is never spent, endowed funds create financial stability which allows NECC to be less dependent on unpredictable sources of revenue, such as government support or grants. NECC’s endowment funds are professionally invested and managed by the Foundation.
What Endowment Naming Gift Opportunities Are Available at NECC?
Named endowment funds offer donors an opportunity to associate the name of a family or individual with a project or program of enduring worth. Named endowment opportunities at NECC range from scholarships to faculty or program support. The goal of these types of funds is to use only the interest generated from the investment, not the principal, so that the gift continues to grow in perpetuity.
What Are Matching Gifts?
Matching gifts are a corporation’s way of multiplying the benefits of their employees’ charitable gifts. If you or your spouse works for a company that offers a matching gift program, your gift to NECC could be doubled or tripled. Find out if your company matches gifts by contacting your personnel or benefits office.
If I Work for a Matching Gift Company, Will My Gift Automatically Be Matched?
No, you need to fill out the matching gift form that can be picked up at your Human Resources office. If you or your spouse works for a company that offers a matching gift program, your gift to NECC could be doubled or tripled. Find out if your company matches gifts by contacting your personnel or benefits office.
What Is the Foundation’s Fiscal Year?
The Foundation’s fiscal year begins on July 1st and ends June 30th.