Page 10 - 2012 Foundation Annual Report
P. 10

The IVC Foundation
with a second consecutive year of over $1 million in revenue, at $1,045,418. e charts on the right show 2011-2012 income, as well as the distribution of the revenue in expenses including scholarships, PRO IVC project funding and other programs that the Foundation funds back to Irvine Valley College. Fundraising expenses were below the nonprofit sector average at 13%, as were general overhead and operating costs at 16%.
u A record number of 650 IVC students submitted applications for scholarships. Over $164,000 in scholarships was awarded at our annual scholarship ceremony and a total of $299,000 was awarded for the year.
u e IVC 2012 PRO IVC campaign exceeded our goal, receiving $351,150 in pledges. is includes 14 new accounts and an outstanding track record of philanthropic support by our IVC faculty, staff and administration, as well as our community supporters.
u A $10,000 anonymous gift was received for student scholarships and for projects that enhance teaching and learning. Six “Learning Excellence” scholarships were awarded and a competition designed and carried out by writing, math, and physics professors, in conjunction with the Foundation, will award “Teaching Excellence” projects in the fall of 2012.
u e 25th Anniversary Astounding Inventions, sponsored by Greenberg Traurig, LLP in January 2012, saw a record attendance of over 2,600 people with 465 inventions created by K-8 Tustin Unified and Irvine Public School Districts on display in IVC’s Hart Gymnasium. Judges included execu- tives, entrepreneurs, scientists and engineers from local corporations, such as Raytheon, Edwards Lifesciences, Boeing, SRS Labs and the Capital Group. e event contributed over $23,000 in revenue to the Foundation.

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