The AATCC Foundation Inc. has launched a new endowed scholarship program that allows a sponsoring person, family, or company to donate funds that will form the basis for an ongoing, annual scholarship. Donations to the AATCC Foundation Endowed Scholarship Program, as it is called, are generally tax deductible. Individuals or organizations considering participating in this program are encouraged to begin the process before the end of the year while there is still an opportunity to receive a tax deduction for 2013.
The gift that keeps on giving, the endowed scholarships are designed to be self-sustaining over time and can be named for an individual, a family or an organization. The minimum cumulative contributions are $25,000 to establish an endowed scholarship. The Foundation can help parties raise the balance required to establish a named, endowed scholarship fund.
Donations received under the AATCC Foundation Endowed Scholarship Program will be invested with the expectation that scholarships will be awarded annually or every other year on a continuing basis over time, with the scholarship funds drawn from investment earnings.
The AATCC Foundation awards several scholarships and research grants every year to students in textile programs around the world. This new program reflects the Foundation’s dedication to supporting a new generation of professionals entering the textile, materials, apparel, and related fields.