PENC Educational Foundation

1. PENC Educational Foundation • Tax-exempt non-profit corporation • Classified as charitable education organization 501(c)(3) • Funds PENC’s Educational Programs • MATHCOUNTS • Scholarships • E-Week • other programs

2. Scholarships • McKim & Creed - endowment • Several past scholarships in the $500 to $1,000 range • North Carolina ABET Engineering Programs

3. History • Founded in October 1984 by members of PENC to provide a charitable funding method for education events • Use of endowments and operating funds

4. Fund the foundation Financial management of the Endowments Scholarships MATHCOUNTS General Targets of Fundraising Individual PENC members Industry and Firms (Matching gifts program in place) Bequests Founding Objectives

5. Chapters • All PENC members and all chapters are part of the foundation • Each chapter has a custodial account within the foundation • Charitable vehicle to fund “educational activities”

6. Initial Fund Raising • Auctions • Raffles • Pie in face challenges • Chapter challenges • Football

7. Present Fundraisers • Golf Tournament each year (started in 1994) • Corporate Pledges • Lasting Gifts

8. Accounts have been setup for each chapter to handle donations. Chapter scholarships can be established. Chapters are encouraged to recommend candidates to the Foundation Board. Why use the Foundation The only way to make sure contributions are eligible for charitable tax deductions. Chapters

9. General Fund

10. General Fund

11. General Fund

12. Chapters General Fund Misc

13. Chapters General Fund Misc

14. Chapters General Fund Misc

15. Chapters Endowment Fund General Fund Misc

16. Chapters Endowment Fund General Fund Misc

17. Chapters Endowment Fund General Fund Misc Endowment Income