FAQs

FAQs

Have questions? Here are answers to frequently asked questions. Please feel free to contact us for additional information.



As a public institution, why does Greenville Tech need to seek private support?

Greenville Tech is state assisted, not state supported. State assistance has fallen from 62% to 20% of the college operating budget. The college keeps tuition affordable so all students have an opportunity to attend. Like the state's public universities, Greenville Tech must receive private support from the community.

Why do Greenville Tech students need scholarships when they get lottery money?

While the lottery is helpful, it only covers approximately 52% of the full time student's tuition and fees. It also does not cover textbooks. Seventy-six percent of Greenville Tech's students receive financial assistance. The Greenville Tech student body is quite diverse. Many students are first generation college students whose families lack financial resources. With an average age of 25, students attending Greenville Tech include recent high school graduates, adults returning to college for training or retraining, single parents who are trying to make a better life for their children and often need child care assistance, and people with special needs. Scholarships are the critical factor in the decision to attend college and private support ensures that all students are given the opportunity.

Doesn't Greenville Tech's beautiful campus suggest you do not need any money?

Greenville Tech wants to maintain an attractive campus because appearance can make a lasting impression. Greenville Tech takes good care of its grounds, buildings, and interiors because it must provide a positive environment for learning and for industrial prospects who visit the college to assess our ability to deliver employee training. Preventive maintenance pays dividends, while putting maintenance off can be costly.

Shouldn't Greenville Technical College focus only on technical career training, not on liberal arts education?

Greenville Tech is the largest post-secondary college in the county and one of the largest technical colleges in the state. As a public college, it is charged with providing a wide range of educational opportunities and services, including technical career training, and the first two years of college transfer preparation. Greenville Tech offers an affordable option for students, who, without the lower cost of education and convenient location, would be unable to start college.

Why does Greenville Tech need an endowment?

The Greenville Tech Foundation's endowment is a permanent fund that provides annual income for many unmet college needs. Greenville Tech must have adequate endowment funds to remain secure, regardless of the fluctuations in state funding. The principal, your investment, is held intact to grow over time. A sizeable endowment fund provides a steady cash flow from earnings, and shelters Greenville Tech programs from the ups and downs of the marketplace. An endowment allows you the option of giving a gift in perpetuity - a gift that will be your legacy to help future generations of students.

Why can't I make a donation for a specific student to receive a scholarship?

As a public charity, the Internal Revenue Service does not allow the Foundation to accept a contribution designated for a specific individual. You can contact the Financial Aid Office to send funds which will be credited to a specific student's account. You will not be able to take a tax deduction, but you will have the satisfaction of knowing you helped the student.

The Foundation can accept a tax-deductible contribution for student scholarships. The donor can designate the guidelines for the scholarship (i.e. student has high academic potential, financial need, majoring in a certain program, etc.). The College's internal Scholarship Committee selects the most qualified applicant, and the Foundation awards the scholarship. Donors of the endowed scholarships receive a student recipient report each year.

How are donated scholarship funds awarded to students?

Students apply for scholarships through the GTC Financial Aid office before the May 1 deadline. To apply, students complete the scholarship application and the FAFSA (Free Application for Federal Student Assistance) which determines financial need. Before the May 1 deadline, new students also need to apply to Greenville Tech and pay the non-refundable application fee, and attach their high school or previous college transcript to the scholarship application (even if a partial transcript).

The College's Scholarship Committee is composed of a representative from all the academic divisions appointed by the dean; a representative from each campus appointed by the campus director; the director of Financial Aid; a representative from Admissions Office; and the manager of the Greenville Tech Foundation. The Scholarship Committee reviews all the scholarship applications and selects the most qualified student for each Foundation Scholarship. The Foundation sends an award letter to the student; the GTC Financial Aid office credits the student's college account; and the GTC Business Office bills the Foundation for the funds

How do I get a tax deduction for gifts-in-kind donations?

Gifts of real estate, personal property, equipment, office furniture, computers, and other in-kind items are counted at fair market value (determined by donor and not by Greenville Tech as required by the IRS). Gifts valued at $5,000 or more require a qualified third-party appraiser, subject to applicable IRS rules and regulations. Appreciated assets must be held for at least one year before being donated to a charity if the donor intends to claim the appreciated value as a gift. The Foundation will send you an acknowledgement of the items received which will serve as your receipt, and you can use the IRS form 8283 Noncash Charitable Contributions to take the deduction if you itemize your taxes.

How do I designate my gift?

You may designate your gift to go toward current critical needs or to a specific fund or scholarship.  When making a contribution with a check, simply attach a note to indicate how you want the funds to be used (i.e. greatest needs, scholarships, technology, department name, faculty/staff development, etc.).  You may also write this in the memo section of your check.  When making a gift online, there is a section of the online form which will ask you how you would like to designate your gift.

If I give a deferred or planned gift to Greenville Tech, will the Foundation continue to ask me for an annual gift?

Yes - your planned gift will help the college meet future needs. Your annual gift/pledge will address the current day-to-day needs of the college. Both gifts are appreciated and critical to the college's continued success.

What is the tax status of the Foundation?

The Greenville Tech Foundation, Inc. is a nonprofit 501 (c) (3) and 509 (a) (1) corporation classified as a public charity operated for the benefit of Greenville Technical College. View/print our current IRS tax-exempt letter.

Why does the Foundation operate independently of the college?

The Foundation provides a private/public partnership vehicle for raising and managing money above that which is appropriated from state funds. An independent foundation can serve the college by maintaining private fund accounts from one fiscal year to the next. A foundation can generally accept and sell property quicker than the state. The Foundation manages donated funds and distributes their earnings according to guidelines monitored and authorized by the independent governing board. Independence permits flexibility in choosing both short-term and long-term investment opportunities.