Frequently Asked Questions
The LBCC Foundation was formed in 1972, just five years following the establishment of the college. The founding Board of Trustees envisioned that private individuals and organizations would provide resources to support students, programs, services and capital that would not otherwise be available.
The LBCC Foundation is a 501(c)(3) nonprofit corporation that solicits, accepts, manages, invests and distributes contributions for the betterment of the college and its students. Gifts to the Foundation qualify as charitable contributions for federal estate and gift tax purposes. (Tax ID # 23-7212073)
LBCC’s website is the best source for scholarship information. You can find scholarship information here. The Foundation annually provide more than 200 scholarships awards that total about $400,000.
Although the LBCC Foundation’s mission is focused on providing support to LBCC students, the Foundation is an independent 501(c)(3) with its own Board of Trustees and is a legally separate entity from the college.
The Foundation supports a wide range of areas to help LBCC students – or those who need help in becoming an LBCC student to engage in an education that enables them to participate in, contribute to and benefit as members of our communities. Through the passionate giving of its donors, the Foundation raises money to support academic and job training programs, provides scholarships to deserving students, supports improved and expanded facilities, and funds student support services to increase their success, among many other things.
Foundation operations are funded through a combination of revenue from earnings from investments, unrestricted gifts, administrative fees and direct support from Linn Benton Community College.
The LBCC Foundation charges administrative fees only on restricted gifts and restricted endowments. One-time and endowed gifts to the Education Fund (which support area of greatest need to students) are not charged administrative fees.
The LBCC Foundation charges a one-time fee of 3.3 percent on restricted gifts (excluding gifts to endowments) and up to a 1.2 percent annual fee on restricted endowment funds.
The administrative fee allows the LBCC Foundation to reduce the direct funding support it receives from Linn Benton Community College, thus freeing College funds for education. Administrative fee revenue is directly related to the LBCC Foundation's cost of doing business, which includes the cost of managing funds, fund-raising, administering the scholarship application, selection and disbursement process, and costs associated with record keeping, receipting accounting, investment and fund disbursement.
Our administrative fee (sometimes referred to as a gift fee) is smaller than most administrative fees at college and university foundations throughout Oregon and the U.S., including University of Oregon and Oregon State University Foundations. Many fund-raising non-profits also have administrative fees. Fees for county-based United Ways, for example, have fees ranging from 8 to 15 percent.