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An endowed fund can be established to support scholarships, program of study, faculty development, and/or general campus support.
The principal of the endowment is invested to provide annual support for the desired project, and to build the principal value so the distribution stays constant in buying power over time. A minimum contribution of $10,000 is required to establish a named endowed account. Additional gifts can be made at any time to build the fund. There are no fees, charges or overhead charged to any endowment. One hundred percent of the gift and the income derived go to the charitable purpose of the fund.
Endowed funds are managed separately in a balanced portfolio stressing growth. Each year, 5% of the principal value is made available for use. Additional income and appreciation above this amount is added to principal to fuel growth of the account. Investment returns, portfolio makeup and payout policies are closely monitored by the Finance Committee of Clover Park Technical College Foundation’s Board of Directors. Performance is evaluated against benchmarks they select. Below are brief descriptions of the endowments established to date:
Established in 2010. The earning from the endowment will be used to fund culinary scholarships and program enhancements.
Established in 2007. The earnings from the endowment are used to fund scholarships to students in Automotive programs.
Established in 2005. The earnings from the endowment are used to fund scholarships to students in the Aviation or Professional Pilot programs.
Established in 2010. Created with gifts from the Tacoma South Rotary, the Muckleshoot Indian Tribe and the CPTC foundation, the earnings from the endowment will support emergency assistance grants to students to help them overcome a financial emergency and remain in school to complete their program of study.
Established in 2004 by former college president, Dr. Sharon McGavick, in memory of her mother. The earnings from the endowment are used to fund scholarships for eligible full time students.
Established by the Harkness family in 2001, the Jim and Dorothy Harkness Memorial Scholarship Endowment honors Jim and Dorothy Harkness, founders of Harkness Furniture. The earnings from the endowment are used to fund scholarships for students in business and interior design.
Established in 1996, the Hamilton Family Endowment honors the Hamilton Family. The earnings from the endowment are used to fund scholarships and other needs as determined by the Foundation Board of Directors.
Established in 2010. The earnings from the endowment will be used to fund scholarships to students in media communications programs. This endowed scholarship for media students was created from funds developed entirely by students of the former CPTC Radio Broadcasting Program which operated the KVTI radio station from 1955 until 2010. Funds were provided by local business underwriting sponsors of KVTI who donated to support equipment purchase and maintenance for the operation of KVTI radio as a training platform and community service. With the closure of the radio career program and the end of operation of KVTI by CPTC students, this scholarship was created from that fund-raising account.
Established in memory of a beloved faculty member in early childhood education. The earnings from this endowment are used to fund scholarships for students in the Early Care and Education program.
Established in 2008 from a gift of the Collector’s Foundation. The earnings from this endowment will be used to fund scholarships in automotive programs.
Established in 2004 by former college president, Dr. Sharon McGavick. The earnings from this endowment are used to provide scholarships to full-time students, with preference to single-parent mothers.
Established in 2010 in memory of Jim McGranahan. The earnings from the endowment will be used to fund scholarships to students in architectural and interior design programs as well as to support program enhancements.
Established in 2007. The earnings from this endowment are used to fund scholarships in the Culinary Arts program.
Established by US West in 2002. Interest earnings are used to fund scholarships for all students.
Established to provide scholarships to full-time students demonstrating financial need.
Established in 2003. This endowment honors the memory of Avon and Cecil Sharpe, active members of the Lakewood community.
Established in 2006. This endowment honors the memory of Father and son, Dick and Jack Sonntag. Dick was very active in the Pierce County community and Jack was passionate about the automotive industry. Earnings from this endowment are used to fund scholarships for students in automotive programs.
Established in 2006. The earnings from this endowment are used to fund scholarships for students enrolled in any full-time program.
Established in 2005. The earnings from this endowment are used to fund scholarships for students in the Culinary Arts program.
Established in 2004 upon retirement from the Washington State Senate. The earnings from this endowment are used to fund scholarships to students enrolled in any full-time program.
Established in 2010 by Laboratory Corporation of America ( LabCorp)/Dynacare Northwest Inc., a wholly owned subsidiary of Laboratory Corporation of America, the Pauline Burton Memorial Endowment honors Pauline Burton’s long-standing and dedicated service in providing students enrolled in the Histology Program with hands on training in a clinical setting. She served as advisory committee member for the Clover Park Technical College Histology program. The scholarship will be used to provide fiscal assistance to students within the Histology program. “I will be thinking of all of you and how very much I am loved. That is where my thoughts will be. I am blessed.” Pauline Burton.
Clover Park Technical College is a state-assisted college and is committed to making college affordable to every Washington resident who needs and desires new skills. Private, charitable support of the College through the Clover Park Technical Foundation provides the margin of excellence so that students get training they need, and the quality they deserve.
