Grand Island, NE~~The Central Community College Foundation has officially formed an affiliation with the Warren and Velda Wilson Foundation, resulting in combined assets of nearly $20 million.
One of the benefits of the affiliation with the CCC Foundation is that it changes the Wilson Foundation’s status from private to public, so it no longer is subject to a five percent disbursement requirement which will give the Wilson Foundation the ability to maintain the value of its assets and provide more flexibility in managing its funds. The Wilson Foundation’s assets of approximately $12 million will bring the combined assets of the two foundations to nearly $20 million.
The merger will create efficiencies and synergies within both foundations that will generate combined scholarships to students in excess of $700,000 per year. The annual awarding of scholarships is expected to reach more than $1 million in the future. The Wilson Foundation recently awarded $425,000 for students who will begin college in 2014-15. The CCC Foundation has managed the scholarship program for the Wilson Foundation for the past 12 years. During this period, the Wilson Foundation awarded more than $5.6 million in scholarships.