Annual AACC Gala Draws Near-Record Crowd - Anne Arundel ...

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“Outlook is Stable” MOODY’S REAFFIRMS AACC FOUNDATION’S A2 RATING! While students on campus conclude their fall term and eagerly await their grades, Moody’s reaffirmed, “Anne Arundel Community College Foundation’s A2 rating on the economic development revenue bonds, series 2002; outlook is stable.” More importantly, Arundel Mills continues to provide a vibrant array of courses and full degrees through the Regional Higher Education Center. At many times of the day, all seats are filled. The new engineering labs are filled with students pursuing a full engineering degree through a new partnership with Frostburg State University. The outlook at AACC Arundel Mills: productive! Overall, AACC enrollment is up by 5.5 percent this fall on top of an 11 percent increase last fall. In response, the foundation awarded nearly $500,000 in scholarships to 450+ students. The outlook for student scholarships: promising. The foundation received a clean audit from our auditing firm, BDO USA. Our Finance Committee worked throughout the year to reduce expenditures and monitor fundraising. In addition, the foundation recommitted to the Donor Bill of Rights and even “tested” itself to make sure we were honoring both the letter and intent of the Bill. The outlook for AACC donors: secure. The foundation’s investments, guided by the Investment Committee and our advisers, grew steadily over the last two quarters. This is great news for students and programs awaiting word on the income from those investments calculated on Dec. 31. The outlook for students and programs: hopeful. Fueled by your generosity, the foundation continues to serve the college and its students. For us, the outlook: stable. Please remember the foundation in your year-end giving plans. We – along with the college and our students – are a productive, promising, secure, hopeful and stable investment! Best wishes for a happy and healthy holiday season. Stacey Sickels Heckel, CFRE Executive director, AACC Foundation Inc. Upcoming AACC Events Unless otherwise noted, events take place on the Arnold campus at 101 College Parkway. • Friday, Feb. 4 – “The Mikado,” 7 p.m. pre-performance reception, 8 p.m. curtain; Pascal Center for Performing Arts • Thursday, April 7 – Annual Scholarship Reception for donors and recipients, 6 p.m. pre-event reception, 7 p.m. program; Pascal Center for Performing Arts; concludes with dessert reception; Student Union dining hall • Thursday, April 21 – “Big Love,” 7 p.m. pre-performance reception, 8 p.m. curtain; Pascal Center for Performing Arts • 6 p.m. Friday, May 6 – Cuisine on the Green, an AACC Signature Event Showcase; Old South Country Club, Lothian • 7:30 a.m. Monday, June 6 – Fifth Annual AACC Foundation Golf Tournament to benefit student scholarships and academic programs; Golf Club at South River • 7:30 p.m. Thursday, June 30 – AACC Summer Celebration Concert featuring AACC Symphony Orchestra, pieces include “Symphonic Dances from West Side Story;” Pascal Center for Performing Arts • Coming in 2011! AACC Celebrates 50 Years! For information on these events, contact the AACC Foundation Inc. at 410-777-2515 or e-mail foundation@aacc.edu. Halls Open Home to AACC Supporters Tom and Molly Hall on Sept. 21 welcomed 45 guests into their home for a cocktail reception to honor their support of AACC. Invited guests included members of the Hotel, Culinary Arts and Tourism Institute (HCAT) advisory board, AACC Foundation Inc. Board of Directors, alumni and former donors. HCAT student chefs and chef instructors prepared and served a menu consisting of a display of Charcuterie and Cheese, student-served Miniature Crab Cakes, Curried Chicken Salad on Baguettes, and Spanikopita; a dinner of Carved Beef Tenderloin, Grilled Salmon with Chimichurri Sauce and Chayote Slaw; Caesar Salad served in martini glasses, and individual gourmet desserts including Triple Chocolate Truffles, Sablee with Apricot, Lemon Squares and Pecan Pralines. HCAT student chefs with performer Gregory Freyman Reception hosts Tom and Molly Hall Zachary’s AACC Odyssey 2010 Gala Cocktail Reception Zachary’s Jewelers in Annapolis on Sept. 16 hosted an exclusive preview event for friends and supporters of the AACC Odyssey 2010 Gala. (from left) Stacey Sickels Heckel, CFRE, AACC Foundation Inc. executive director; Steve Samaras, owner, Zachary’s Jewelers; Shauna A.S. Chabot, CFRE, foundation director of development; and Evangeline Ross, manager, Zachary’s Jewelers. 2 • WINTER 2010 FOUNDATIONS
Recent Gifts Support AACC Students, Programs GILL CREATES HCAT SCHOLARSHIP Hotel, Culinary Arts and Tourism Institute students can vie for a new annual scholarship, thanks to businessman Brian Gill, who was named the 2010 Maryland Young Entrepreneur of the Year by the Small Business Administration. The owner of Gill Grilling (www.gillgrilling.com) recently established through the Anne Arundel Community College Foundation Inc. the Gill Grilling Company Scholarship. Since launching the company in 2002 to serve meals to his fraternity brothers, Gill has focused on providing quality, affordable meal plans for University of Maryland College Park fraternity and sorority students. He now provides meals for 15 UMCP Greek chapters. Gill wants to help AACC students achieve the culinary expertise and skills needed to succeed in his field – and possibly his company. When he hires chefs, he seeks culinary professionals with skills in inventory management, safety and hazard awareness, human resources and customer service. HCAT students gain all of those skills through the college’s culinary degree and certificate programs. Scholarship donor Brian Gill, right, with Lisa Jacobs, assistant director of development, institutional advancement. The $2,000 scholarship awards will take place starting fall 2011. To be eligible, AACC HCAT students must demonstrate financial need as established by the college Financial Aid office, have a minimum grade point average of 2.0, are registered for at least nine college credits, enrolled in a culinary degree or certificate program and are Maryland residents. FACULTY MEMBERS CREATE SCHOLARSHIP Two AACC adjunct instructors have established an annual scholarship to benefit students enrolled in Legal Studies Institute programs and the Physician’s Assistant certificate program. Craig Cook, M.D., teaches in the Physician Assistant program and Evelyn Pisegna Cook, Esq., teaches in the Legal Studies Institute. In October, the couple set up the Evelyn and Craig Cook Annual Scholarship as an open fund capable of receiving additional contributions from any person, corporation or organization. “The rewards, benefits, and choices that an education can provide to a person cannot be overstated,” the couple said. “AACC performs a tremendous role by Ways to Invest in AACC When you invest in Anne Arundel Community College with gifts of cash, appreciated securities, real property or through an estate gift, you are ensuring continuity of educational excellence at AACC. We encourage you to consider a gift to the AACC Foundation Inc., which exists solely to provide financial resources to the college and its priorities. ANNUAL GIFTS Annual gifts are the cornerstone of the foundation fundraising effort. They provide needed funds for special programs and projects that support AACC. 2010 ROTH IRA CONVERSION OPPORTUNITY (Please see the article on this page.) STUDENT SCHOLARSHIPS One of our greatest needs is for student scholarships. While tuition remains reasonable, the combined cost of educational and living expenses means that many students require financial aid. The foundation’s privately funded scholarship program provides that aid for hundreds of students each year. LEADERSHIP GIFTS AACC offers many opportunities to partner with and support its faculty and to invest in new or existing programs to enhance student learning. We work with you to ensure your leadership-level gift reaches the faculty or study area of your interest and to maximize its impact on student success. MEMORIAL/TRIBUTE GIFTS These gifts are provided in loving memory of a friend or family member or given on a special occasion. They are a special way to pay tribute to those who are dear to you. Please give us the names and contact information of friends and loved ones as we will send a special card recognizing your generosity. PLANNED GIFTS Remember AACC in your gift-planning process. There are many ways to make a lasting commitment to the college and its students. Planned gifts provide tremendous benefit to AACC while helping you save taxes, increase your income and pass your estate to your heirs. CORPORATE PARTNERS PROGRAM AACC offers extraordinary business investment opportunities that provide access to students in your field of interest and brand visibility among our students, donors and county residents. For information about the foundation, its activities and opportunities for investment in AACC and its students, contact 410-777-2515 or foundation@aacc.edu. Visit www.aacc.edu/ foundation, where you may make a donation online. When making a gift by check, please make it payable to AACC Foundation Inc. Mail it to: AACC FOUNDATION INC ICOX HOUSE 101 COLLEGE PARKWAY ARNOLD MD 21012-1895 Thank you for your support! providing educational resources across all age groups in our state. We wanted to be part of that process both by teaching and helping others financially to achieve their goals of an education.” Their scholarship will provide a $1,000 annual award to a Legal Studies student and a $1,000 annual award to a Physician’s Assistant student. To be eligible, students must demonstrate financial need as established by the college Financial Aid office with preference going to a first-year student with renewal of the award to help them complete their studies. The first scholarship awards will take place in fall 2011. PARKER DONATES FROM IRA Edgar Parker, a Northrop Grumman retiree and U.S. Naval Academy graduate (class of 1956), decided to wait no longer for Congress to act on legislation allowing a charitable deduction from individual retirement accounts. He donated $500 to the AACC Foundation Inc. directly from his IRA as a gift to benefit the new Engineering degree program. Parker has already created an endowment fund for the program that will be funded with his estate. Parker explained that while Congress had not yet passed the charitable deduction from IRA legislation this year, he was advised by his broker to give directly from the IRA and keep copies of the checks. A donation is a wise end-of-year financial move. If Congress passes the legislation, he can take a larger deduction. If Congress does not pass the legislation, he will claim the gift directly on his return. Talk to your broker or adviser about following Parker’s example and give an end-of-year gift to the AACC Foundation to benefit scholarships, academic programs or college initiatives today. Call 410-777-2515 or e-mail foundation@aacc.edu for assistance. SIBLINGS SET UP TWO SCHOLARSHIPS Ioanna Morfessis, Ph.D., and her sister Chris Morfessis have established two scholarship funds at AACC in honor of their late mother. The Calliope Tsoulias Morfessis Braun Scholarship consists of an endowed $25,000 scholarship fund that will be awarded for the first time in about six years and an annual scholarship fund of $2,000 that will be awarded for the first time in spring 2011. To be eligible, students must be women who experienced a lapse in their education, either between high school and college or while in college. They must enroll in credit classes with the intent of pursuing a degree. The siblings are making donations to the annual and endowed scholarships from a fund they had already established at the Community Foundation of Anne Arundel County. ROTH IRA CONVERSION OPPORTUNITY FOR 2010 Charitable giving may help offset taxes incurred when converting a traditional IRA to a Roth IRA. In 2010, there is no longer a $100,000 adjusted gross income limit for converting a traditional IRA to a Roth IRA. This means that, regardless of income level, you may convert a traditional IRA to a Roth IRA. If you choose to do so, however, you could incur significant taxes. A charitable gift to the AACC Foundation Inc. can help offset those taxes. What are some of the benefits of converting a traditional IRA to a Roth IRA? • Distributions are income tax free to you and your heirs. • There are no required withdrawals after age 70½. • Contributions are allowed after age 70½ for those who meet the income requirements. Who might be a good candidate to convert to a Roth IRA? • Those who do not expect to be in a significantly lower tax bracket following retirement. • Persons not anticipating needing to use any funds from the Roth IRA until several years in the future. • Those who prefer to forgo distributions so the retirement account can grow tax free for heirs’ benefit. Heirs may be able to extend distributions over a long timeframe. The amount converted from a traditional IRA is subject to ordinary income taxes. Carefully consider whether converting to a Roth IRA is right for you. Taxpayers will have the option of spreading the federal taxes owed on the conversion equally over 2011 and 2012. Contact your financial adviser to see how a gift to the foundation can help offset taxes. Investigate Planned Giving Check out the many benefits of planned giving through our Web page at http://aacc.giftlegacy.com. Learn how to make gifts to the college using your will, traditional IRA, life insurance, life estate interests or charitable trusts as well as possible tax savings connected with planned giving. To explore your options, contact 410-777-2515 or e-mail foundation@aacc.edu. FOUNDATIONS WINTER 2010 • 3
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