The purpose of the PRO IVC 2010-2011 Campaign is to raise funds to support programs that benefit the students, faculty, administration, and staff of Irvine Valley College. The IVC Foundation will be contributing a "Funding Match" to each Project that participates in the PRO IVC Campaign. The Funding Match for the 2010-2011 Campaign is $30,000.
The PRO IVC Campaign "Pledge" Period for 2010-2011 will begin on October 1, 2010 and end on December 31, 2010. All funds pledged and donated are due to the IVC Foundation by 5:00pm March 31, 2011.
All funds collected for projects during the Campaign and paid by March 31, 2011, will receive a Funding Match from the IVC Foundation.
To maximize the Funding Match for each Participating Project the "Match" will consist of two components of $15,000 each.
Component A - Each Participating Project will receive an equal share of $15,000 (but not to exceed the amount of funds collected for your project). For example, if 15 projects participate, each would receive $1,000. However, if a Participating Project only collects $750 in funding, the match would be $750.
Component B - Each Participating Project will receive a Pro-rata share of $ 15,000 (but not to exceed the amount of funds collected for your project ) based on the Participating Projects collected funds as a percentage of the total funds collected from all the Participating Projects. For example if a Participating Project collects an amount representing 6% of the total funds collected, that Participating Project would receive 6% of $15,000 or $900.
Every Participating Project that collects funds and deposits them by March 31, 2011 will receive the funding "Match" from both Component A and B as described above.
The IVC Foundation will complete the final reconciliation of the pledged funds collected for each project and provide a final tally to all participants by April 30, 2011. The funding "Match" will be distributed to all participant accounts by May 31, 2011.