First Posted: 1/14/2009
BBC Foundation has kicked off a five-year campaign to raise by nearly five-fold the amount given in endowed and annually funded scholarships. The intensive effort will help Baptist Bible College and Seminary students with rising educational costs. The focus of the campaign is to increase scholarships through endowments and annual gifts. By May 2013, BBC Foundation intends to secure endowment gifts and commitments totaling $6 million. A secondary goal is to increase the number of annually funded scholarships from 13 to 100 by May 2013. Endowment gifts are placed in a separate account and invested with professional managers. Each year, the amount distributed for scholarships ranges between 4 to 5 percent of the value of the endowment. Based on the historical average return of a balanced portfolio of 8 to 10 percent, the endowment grows over time, providing increasing scholarships and a continuing legacy for the donor. Donors can name an endowment and select the criteria or contribute to the Ministry Leaders Endowment, a general endowment that gives the president of BBC and S flexibility to help deserving students. Annually funded scholarships through direct gifts now produce $80,000 in aid each year. The goal is to increase that to $200,000. Like an endowment agreement, donors to an annually funded scholarship are able to name the fund and determine the type of student who will receive assistance. For details, go to or call 800.451.8668.