North Carolina Woodworker Outreach Scholarship Plan
The Board of Directors of North Carolina Woodworker (NCWW) have been considering new alternatives for fulfilling our mission of promoting woodworking. After extensive research and consideration, the board has chosen to sponsor scholarships/endowments with craft schools within North Carolina. The plan is to begin by sponsoring annual scholarships with John C. Campbell Folk School in NCWW’s name. This would build a legacy for, and with, NCWW while furthering our outreach.
There are multiple options for executing a plan such as this. NCWW can: 1) raise funds for scholarships on an annual basis as part of our annual fund-raising activities, or 2) start a fundraising effort for an endowment fund. As a 501(3)(c), both alternatives provide a clear path for donor tax deductions as there would be no expectations of something in return, unlike a raffle. Once an endowment is fully funded, the choice could be to stop, or continue by creating endowments at other institutions offering training in woodworking. Either way, The NCWW Board is calling on its members and its sponsors to embrace this opportunity by contributing and helping raise funds needed to accomplish this goal.
Scholarships/Endowments:
Funding Methods:
NCWW will start with two individual scholarships using funds on hand. At the same time NCWW will seed an endowment and start a separate fundraising effort to fund the endowment. This fundraising effort would involve NCWW members and sponsors making individual tax-deductible contributions to a NCWW Education Endowment Fund. A Go Fund Me initiative may also be started.
NCWW currently has 12,000+ registered members. If members donated five dollars each, $60,000 can be put towards scholarships/endowments immediately.
How can you help?
By promoting either initiative, scholarships and/or endowments, NCWW members and sponsors should expect to see growth of the NCWW community. This should translate to a growth in membership, growth of participation within the NCWW media platforms, and increased exposure for NCWW sponsors for business and community goodwill. As funds permit, other woodworking programs will be considered for scholarships and endowments.
In closing:
The NCWW Board would like your comments on the NCWW Scholarship plan. For scholarships, our current business model permits funding one or two scholarships per year for the foreseeable future. Your help would be needed to raise funds for endowments. The real value to this type of endeavor, scholarship or endowment, is to position NCWW to expand this initiative into other community colleges and trade schools. Please, as you consider your thoughts, recognize that the NCWW board will ask every NCWW member and sponsor to participate and embrace this initiative. Your involvement is truly building a legacy for the craft and for the woodworking community.
The Board of Directors of North Carolina Woodworker (NCWW) have been considering new alternatives for fulfilling our mission of promoting woodworking. After extensive research and consideration, the board has chosen to sponsor scholarships/endowments with craft schools within North Carolina. The plan is to begin by sponsoring annual scholarships with John C. Campbell Folk School in NCWW’s name. This would build a legacy for, and with, NCWW while furthering our outreach.
There are multiple options for executing a plan such as this. NCWW can: 1) raise funds for scholarships on an annual basis as part of our annual fund-raising activities, or 2) start a fundraising effort for an endowment fund. As a 501(3)(c), both alternatives provide a clear path for donor tax deductions as there would be no expectations of something in return, unlike a raffle. Once an endowment is fully funded, the choice could be to stop, or continue by creating endowments at other institutions offering training in woodworking. Either way, The NCWW Board is calling on its members and its sponsors to embrace this opportunity by contributing and helping raise funds needed to accomplish this goal.
Scholarships/Endowments:
- For a two-week program at John C. Campbell Folk School NCWW can fund a scholarship on an annual basis for $1,500.
- A permanent scholarship program, an endowment, can be funded with $30,000. This will allow one student to have tuition, room and board, with work study requirements, annually, in perpetuity.
Funding Methods:
NCWW will start with two individual scholarships using funds on hand. At the same time NCWW will seed an endowment and start a separate fundraising effort to fund the endowment. This fundraising effort would involve NCWW members and sponsors making individual tax-deductible contributions to a NCWW Education Endowment Fund. A Go Fund Me initiative may also be started.
NCWW currently has 12,000+ registered members. If members donated five dollars each, $60,000 can be put towards scholarships/endowments immediately.
How can you help?
- The board is asking for comments on this plan within the next 30 days.
- Once the details are worked out and the financial accounts are established NCWW members and sponsors can make tax deductible donations to a North Carolina Woodworker Education Endowment Fund as well as promote the raising of funds for the endowment. For example, once a Go Fund Me Page is opened members and sponsors would be asked to share and promote the fund with colleagues, customers, and suppliers.
By promoting either initiative, scholarships and/or endowments, NCWW members and sponsors should expect to see growth of the NCWW community. This should translate to a growth in membership, growth of participation within the NCWW media platforms, and increased exposure for NCWW sponsors for business and community goodwill. As funds permit, other woodworking programs will be considered for scholarships and endowments.
In closing:
The NCWW Board would like your comments on the NCWW Scholarship plan. For scholarships, our current business model permits funding one or two scholarships per year for the foreseeable future. Your help would be needed to raise funds for endowments. The real value to this type of endeavor, scholarship or endowment, is to position NCWW to expand this initiative into other community colleges and trade schools. Please, as you consider your thoughts, recognize that the NCWW board will ask every NCWW member and sponsor to participate and embrace this initiative. Your involvement is truly building a legacy for the craft and for the woodworking community.