Sara Brown, National Park College director of development, reported last week the NPC Foundation has seen a 59-percent increase in the past four years.
Brown reported the growth during the NPC Board of Trustees' regular monthly meeting in the Gerald Fisher Campus Center. Brown reported a clean and clear audit for the foundation for the third consecutive year.
Foundation investments are held with Morgan Stanley and began at $683,479 in 2008. The foundation raised more than $751,000 through annual scholarships and donations in just the 2017 fiscal year.
The Development Office established 11 new scholarships and endowments, including planned gifts, totaling $1.145 million in the past year. In-kind gifts for technical programs have totaled more than $178,000 over the last 18 months.
Brown joined the foundation in 2013 with a fund balance of $1,962,417. Today, the foundation investment account has grown to more than $3,115,000, a 59-percent increase in four years.
"From $1.9 million to $3.1 million in four years is pretty substantial," Forrest Spicher, chairman of the board, said. "I commend the work that you've done, Sara, with your team and everyone. It is no easy task."
Trustee Jim Hale said working drawings of a proposed campus expansion are expected to be completed in early 2018. He said he hopes to begin accepting bids in February to complete the project in 2019.
The board approved Phase I of the college's campus expansion and master planning project in August at a cost not to exceed $15 million. The first phase includes construction of a new student commons facility, renovation of the Fisher building and updates to technical program facilities. The college's next steps include engineering studies, survey work and soil borings.
Steve Trusty, vice president for finance and administration, who provided a financial report, said the college also received a clean audit report from the Legislative Joint Auditing Committee with no reportable findings. The board welcomed special guests Hot Springs Mayor Pat McCabe and state Rep. Les Warren, R-District 25.
NPC President John Hogan said a recent community survey featured overwhelmingly positive feedback about interest in bachelor's degrees being offered in Garland County. Hogan said an infusion of bachelor's degrees could greatly impact economic development and help bring average household incomes more in line with state and national averages.
Local on 12/04/2017