2020 Introduction of Foundation and Board1 - Flipbook - Page 7
-OUR SPONSORSThe Foundation receives funding from multiple sources including Combined Federal Campaign, ASBC, rental property, general donations, and investments. The pie chart below depicts the distribution of annual sources of revenue.
Our largest source of funding is Legacy Scholarships. The Legacy Scholarships are funded by individuals, families, sororities, church ministries and other organizations who provide their own criteria (e.g., specific college, specific gender, HBCU, PWI,
STEM, specific majors) in addition to the Foundation’s general criteria. Some Legacy scholarships are funded for one year, others for
all four years. The 69 Legacy Scholarships (new and renewals) awarded in 2019 vary from $1,000 to $20,000 and were funded by
various individuals and organizations as indicated below. Listed at the top is a scholarship funded by the annual income from our first
major donation, Mrs. Jacqueline Henry-Greene (the former director of the Senior Choir, now named Trinity), who donated her entire
estate (house, investments, miscellaneous) to the Foundation. The table below summarizes the categories of Legacy Scholarships,
the number of scholarships given in that category and the range of the dollar amount for those scholarships.
LEGACY CATEGORY
NUMBER
AMOUNT of SCHOLARSHIP
ESTATES (1)
3
$2,000
FRATERNITIES/SORORITIES (3)
3
$1,000 - $3,000
FAMILY FOUNDATIONS (3)
7
$3,000 - $5,000
BANK FOUNDATIONS (1)
3
$ 2,500
ASBC CHURCH (1)
2
$5,000 - $20,000
ASBC DIACONATE (1)
1
$5,000
ASBC MEN’S MINISTRY (1)
10
$1,000
ASBC DISCIPLE GROUP (1)
2
$1000
ASBC ASSOCIATE MINISTERS (1)
2
$1000
INDIVIDUALS (24)
36
$1,000 – $5,000
The Legacy Scholarships have become the ‘bread and butter’ of the Foundation’s scholarship program. Fully 60% of all donations
come via this instrument. Members and organizations who desire to honor a deceased family member or organizations who wish to
honor a special leader find the Legacy Scholarships a convenient vehicle for meeting these goals. Current Legacy scholarships include awards directed to students who major in business, computer science, engineering, music, etc.; or students attending HBCUs;
or students who have been in foster care or whose parents are incarcerated. Legacy Scholarships can be initiated for as little as
$1,000, though some families choose to donate as much as $20,000 to honor their selected individual or cause. To initiate a Legacy
Scholarship, one need only contact Deacon Pat Wallace, President of the ASBC Foundation at (301) 292-9412 or at our e-mail address: Foundation@alfredstreet.org.
