Types of Donations Accepted by the Foundation
- Cash or Unrestricted Donations: These donations will be used to support non-specified services, programs, or endowments established by the Foundation.
- Field of Interest Donations: Income from these donations or gifts will be used to support specific New Market Skills Center educational or high-demand program needs.
- Designated Donations: These donations or gifts will be used to support specific services, programs, or endowments established by the Foundation. Within this category, donors can establish a named scholarship or fund.
- Advised Donations: Donors may establish an Advised Fund where both principal and income may be used to benefit one or more qualified charitable purpose established by the NMSC Foundation’s charter. Donors may recommend different recipients from time to time. The Board retains the right of final approval.
- Administrative/Operating Fund Donations: Contributions to this fund are made to support the operation of the NMSC Foundation and its related activities. Donations to this fund in excess of current needs of the Foundation may be used to augment income from Endowment Funds. The principal and income of this fund may be used to defray current operating expenses at the discretion of the Board.
Asset Donations: The Foundation accepts Asset Donations such as stocks, bonds, vehicles, equipment, or real estate. All Asset donations or property not specifically requested by the donor to be held, are converted to cash as soon as practical for reinvestment.