The Moody Foundation awards $3 million to Galveston College Foundation for non-tuition educational expenses campaign
The Moody Foundation awarded $3 million to the Galveston College Foundation toward a second community campaign for new funds to cover specified non-tuition educational expenses.
Earlier this year, the Board of Directors of the Galveston College Foundation launched an ambitious $6 million fundraising campaign to establish policy and distribution of invested funds for eligible Universal Access scholarship recipients to receive not only tuition, fees and books but funding for other unmet education needs.
The Universal Access Community Scholarship Endowment (UA) supports Galveston high school graduates who are ineligible for federal funding toward their higher education goals at Galveston College. Currently, the UA Endowment pays for up to 60 credit hours for tuition, required fees and a book stipend.
In 2014, the Moody Foundation gave the UA Endowment $3 million toward this purpose, effectively more than doubling the endowment. That gift reinvigorated support from the community toward fully endowing the UA Scholarship opportunity for Galveston students.
As of fall 2018, Universal Access scholars will receive $4,620 plus a book stipend toward a degree and/or certification at the college. Students must maintain a 2.0 grade-point average to retain the award.
As of Aug. 1, the Moody Foundation committed to supporting half of the funds necessary to support a second campaign to underwrite associated costs beyond that of tuition and mandatory fees. The foundation’s $3 million gift will be awarded in two installments: $1.5 million now and the remaining balance in early 2019.
These funds will be added to more than $340,000 in cash and pledged support from Galveston individuals and families toward the $6 million Non-Tuition Educational Expenses Fund campaign.
The Non-Tuition Educational Expenses Fund is designed to potentially fund program-specific needs, including books, testing, licensure fees and digital requirements.
“The Universal Access Community Scholarship Endowment and the Non-Tuition Educational Expenses Fund campaign seek to fully assure a college education for Galveston students and families without incurring debilitating debt,” said Maria Tripovich, director of the Office of Development/Galveston College Foundation and Grants. “An enlightened citizenry is necessary for a well-functioning society and propagation of our country’s highest ideals. Toward that end, the Moody Foundation and Galveston College Foundation are allied through a dedicated investment of resources to make higher education universal in Galveston.”
Galveston College Foundation is a separate IRS 501 c (3) organization, independent but supportive of Galveston College.
For further information, please contact Maria S. Tripovich at email@example.com.