The SVC Foundation draws its financial resources from contributions by individuals and businesses. Total donations to-date exceeds $300,000. The Foundation is a “volunteer run” organization with very low overhead so that substantially all donations are expended for our stated goals.
During the last two years we have seen the endowment of the Rolf and Helen Illsley Fund and, in cooperation with SVC and AIMCAL, the formation of the Bernard Henry Fund, in addition to the previously existing John Fenn, Sr. Fund and the Warchol Fund. We can proudly report that in 2009 the Bernard Henry Fund has reached its initial goal of $50,000 and is now an Endowed Fund of the SVC Foundation. Our sincere thanks go to the many donors who have helped us to reach this goal, as well as to AIMCAL, our partner organization in this endeavor, and to the volunteers whose commitment has kept the flame burning all along the way.
The Foundation has established an investment account that piggy-backs on the SVC investment fund administered by RBC Dan Rauscher. This ensures professional investment management in order to maximize the return on the endowed funds.
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Because the SVC Foundation, a 501(c)3 nonprofit organization, is classified by the IRS as a 509a3 Type 3 Supporting Organization so the foundation that holds your donor advised fund may deny the grant or will require expenditure oversight. Check with your foundation for details.
We wish to thank those individuals and businesses who have already made donations to this worthy cause, and wish to encourage others to pledge in its support. In particular, we want to recognize the support of the Society of Vacuum Coaters which has provided major initial funding and ongoing contributions in the form of matching grants.