Panola College Foundation Establishes Endowment

At its April meeting the Panola College Foundation reached a milestone by voting unanimously to establish the Panola College Foundation Endowment. It also agreed that one of the long-term goals of the Foundation will be to grow this endowment so that it can be used in the future to assist the College in meeting its most pressing needs.

This year in addition to establishing the Foundation Endowment with an initial investment of $31,000, the Foundation has assisted the College by funding several scholarships, providing a $3,125 grant to the fine arts department and a $12,500 grant to the health sciences division.

Members of the 2007-2008 Foundation Board include Mrs. Carol Vincent, Chair, Mr. Philip Pool, Vice-Chair, Mr. Tate Barber, Treasurer, Mrs. Jean Bunyard, Mrs. Brenda Giles, Mr. Dave Gorrie, Mrs. Margie Hopkins, Mr. David Murphy, Mrs. Phoebe Sue Perlman, Mr. Bobby Phillips, Dr. Andy Nutt, Mrs. Patricia Smith, Mrs. Fannie Watson, Mr. Cliff Todd, and Mr. Kevin Smith. Dr. Gregory Powell, President of Panola College, Mr. Steve Williams, Vice President of Finance and Business Services, and Mr. Van Patterson, Director of Institutional Advancement, also serve as ex-officio members of the Board.

“The Foundation is able to support the College because of the generosity of the citizens in the communities we serve,” said Mrs. Carol Vincent. “I am grateful to all those who have donated their time and financial support to the Foundation. Much of our funding has come from members of the Foundation Board, friends of the College, and the generosity of those who participated in one or more of the Foundation’s fundraisers.”

Mr. Van Patterson, added, “Additional funding has been given by donors who chose to designate the Panola College Foundation as a beneficiary in their wills. Designating the Foundation as a beneficiary is a relatively simple process that requires no upfront monetary gift to the institution.”

“Another option available to donors is to utilize a planned giving strategy. Proper planning can help donors reduce their tax burden, provide for their heirs, and still provide a gift to the College. Planned giving is more complicated than designating the Foundation as a beneficiary in one’s will and requires the expertise of a tax professional,” said Patterson.