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A good estate plan can involve a number of tools which can often result in a larger inheritance for heirs than would be received without such planning. In addition, through estate and charitable planning a donor can see the benefit of generous support during the person's lifetime.

There are a number of tools your estate planner can recommend to help you make a planned gift to the Cecil College Foundation. Please remember to discuss these options carefully with your legal and financial advisors.

Cecil College Foundation, Inc. is a 501(c)3 tax-exempt organization. The Foundation welcomes two kinds of scholarships: Endowed and Temporarily Restricted.

Endowed Scholarship
When an individual or organization establishes an endowed scholarship, the gift is set aside as principal to be invested in perpetuity. Only a portion of the income and earnings from the principal are distributed as scholarship awards. Endowed scholarships are established with a minimum of $10,000. If an endowed scholarship is established with less then $10,000, it will be considered an emerging endowment. All interest will go into the principal until the $10,000 level is attained, at which time it will become an endowed scholarship.

The Foundation encourages the establishment of endowed scholarships. For individuals, it is a lasting tribute in honor or memory of loved ones. For organizations, it is an opportunity to provide perpetual support for students at Cecil College.

Temporarily Restricted Scholarships
Temporarily Restricted scholarships are established as short-term or one-time gifts. The entire gift is awarded to students within one academic year.

Establishing Criteria
The Cecil College Foundation, Inc. Scholarship Committee selects student recipients based on criteria established by the donor. Criteria can include program interest, residency, financial need and/or merit, and grade point average.

Financial Management
The Fund Management Committee of the Cecil College Foundation, Inc., in accordance with its investment policies, manages all Foundation funds. The Foundation’s books are audited annually and a copy of the latest audit is available upon request.