The Associated Student Government welcomed SBCC Foundation CEO Geoff Green during its latest meeting, where Green provided an overview on the foundation’s roles and finances during the past year.
The foundation is a non-profit philanthropic organization that provides more than $5 million annually for student success programs including scholarships, book grants, emergency funds, and the SBCC Promise Program.
“Our job is [to be] a support system,” Green said. “We’re governed as an independent entity, but we have six members of college leadership who sit on the board.”
Superintendent/President Dr. Utpal Goswami, Executive Vice President Pamela Ralston, Academic Senate President Raeanne Napoleon, Trustee Craig Neilson and Student Senate President Carson Mitchell are all ex-officio members of the SBCC foundation board.
Green provided an outline of the foundation’s revenues and expenditure, and as of June 30, 2020, the SBCC Foundation had a total of $58 million.
89% of its funds, or $52 million, are reserved for scholarships. $4 million makes up its restricted non-endowment fund and $1.5 million can be used as needed elsewhere. Green said that “a significant amount of our assets are gifted” and managed in perpetuity.
Green highlighted the Promise program, which offers local students financial aid every year.
“This is for any student in the community who believes this will help them continue through their higher education,” said Green.
Green also described events and fundraisers organized by the foundation, and how these have proved successful in the past.
He recalled a set of charity concerts the foundation organized with Rock & Roll Hall of Fame inductee Michael McDonald to raise money for City College’s music department.
“For two years we hosted a full sold-out show at the Lobero Theatre,” Green said.
He also explained that the foundation usually hosts fundraisers annually, but this year it was forced to switch to a virtual gala event due to the pandemic.
“We raised over $300,000 for our community this way,” Green said.
Green reiterated to the senate that the SBCC Foundation’s main priority is to ensure student success and growth.
“It’s all because people give money,” Green said. “These are all voluntary dollars that people give to support the college and [to] support you as students.”
The ASG will reconvene next Friday, Oct 30.
