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Frequently-Asked Questions (FAQ)

 About the Montgomery College Foundation

Q. How many Montgomery College students need financial aid and scholarships to pay their expenses?

Q. What is the relationship between Montgomery College and Montgomery College Foundation?

Q. Are contributions to the Montgomery College Foundation tax deductible?

Q. What is the foundation's official name, mailing address, and phone number?

Q. Who manages the Montgomery College Foundation?

Q. What is the Montgomery College Foundation's Tax ID Number?

Q. I didn’t attend Montgomery College, but I understand that the College performs a valuable community service. How will my gift benefit the community?

 

Giving to the Montgomery College Foundation

Q. Will my gift make a difference, if I can't make a large gift?

Q. How can I make a donation to Montgomery College?

Q. What is the Montgomery College Fund and what does it support?

Q. What is the easiest way to make a gift to the Montgomery College Foundation?

Q. Can I make a gift of stock or property to the Montgomery College Foundation?

Q. Can I specify how my gift will be used by the Montgomery College Foundation?

Q. Can I make a gift for scholarships even though the semester has started?

Q. Can I make arrangements to give a monthly or quarterly gift?

Q. Can I make a contribution to the Montgomery College Foundation in honor or in memory of someone?

Q. How do I set up a scholarship fund named for a friend or relative?

Q. What is the difference between a making a gift for current use or for endowment?

Q. If I set up a scholarship fund, will I get the names of the students who receive my support? Can I meet them?

Q. How can I make a corporate or foundation gift to the Montgomery College Foundation?

 

Planned Giving

Q. How can Montgomery College students benefit from my retirement plan?

Q. How do I leave Montgomery College in my will?

Q. What are the benefits of designating the Montgomery College Foundation in my will?

Q. I heard that there is a way for me to make a gift directly from my Individual Retirement Account (IRA). How do I arrange this so that it benefits Montgomery College students?

Q. I'd like to make a gift to benefit Montgomery College students, but it will be a small one given that I'm retired and living on a fixed income. Is there a way I can leverage my giving?

Q. I want to make a gift to the Montgomery College Foundation today, but also need to preserve the core of my investments to live on and an inheritance for my children. How can I balance these needs?

Q. I have a life insurance plan that I no longer need, but the surrender value is very low. Would this make a good gift?

Q. I wish I could make a major gift for student scholarships, but my largest asset is my home and I plan to retire in place. Can I leave my house to the College in my will?

Q. Can the Montgomery College Foundation staff recommend estate planning professionals to assist me?

 

Q. How many Montgomery College students need financial aid and scholarships to pay their expenses?

A. Nearly 40 percent of Montgomery College students receive financial aid and/or scholarships. The Montgomery College Foundation provides more than $1.25 million in private scholarship funds to about 900 students each year, thanks to generous individual, corporate, and foundation donors. The average Montgomery College Foundation scholarship award is $1,500 per semester. The Foundation turns down hundreds of additional qualified scholarship applicants year due to limited available funds. The College’s Financial Aid Office helps students obtain the government assistance they qualify for and then awards private scholarship funds to make up the difference between aid and total expenses of tuition, fees, and books or supplies. For more information visit www.montgomerycollege.edu/foundation or contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. I didn’t attend Montgomery College, but I understand that the College performs a valuable community service. How will my gift benefit the community?

A. Your gift is an investment in your community. Montgomery College, like all community colleges, plays a unique role in serving the underprivileged and building the economy of the local community. With its open admissions policy and relatively low in-county tuition rate (about $4,438 per year, full-time), Montgomery College serves students who might not otherwise pursue post-secondary education. It also offers workforce development courses that greatly benefit businesses and their employees and provides continuing education for the entire community. More educated residents in our county translates into more tax-paying citizens, fewer people relying on government social programs, and a better trained pool of candidates to fill the ever-changing employment needs of local businesses. For more information visit www.montgomerycollege.edu/foundation or contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. How can I make a donation to Montgomery College?

A. All philanthropic contributions for Montgomery College are made to Montgomery College Foundation. The Montgomery College Foundation is an independent 501(c)(3) charitable organization that supports activities of Montgomery College and its students. The foundation was created in 1982 to enhance the work of Montgomery College and help ensure a level of excellence comparable to the finest colleges and universities across the country. For more information, please visit www.montgomerycollege.edu/foundation or contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgoemrycollege.edu.  

Q. What is the Montgomery College Fund and what does it support?

A. A gift to the Montgomery College Fund ensures that your gift can be directed to the greatest needs of the College and our students in a timely manner. Typical areas of support include scholarships for tuition and books for students, support for faculty development and curricula enhancements, travel funds to enable student travel for national competitions, and other important needs. The fund is important, since it gives the Montgomery College Foundation the ability to respond to urgent and unanticipated needs. In the past, for example, the foundation helped a nursing student replace uniforms and books after a fire in her apartment, and given emergency support to a student whose father lost his job. For more information contact Gregory Enloe, alumni relations and annual giving director, at 240-567-7977 or gregory.enloe@montgomerycollege.edu.  

Q. What is the relationship between Montgomery College and Montgomery College Foundation?

A. The Montgomery College Foundation is an independent 501(c)(3) charitable organization founded to support activities of Montgomery College and its students. Since Montgomery College is a publicly-supported institution, all private contributions for the College and its students are made to the foundation. The foundation was created to enhance the work of Montgomery College and help ensure a level of excellence comparable to the finest colleges and universities across the country. For more information, please visit www.montgomerycollege.edu/foundation or contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. Are contributions to the Montgomery College Foundation tax deductible?

A. Yes. Contributions to the Montgomery College Foundation are tax-deductible to the extent provided by law under Section 501(c)(3) of the Internal Revenue Code.
For more information, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. What is the foundation's official name, mailing address, and phone number?  

A. Montgomery College Foundation, Inc., 40 West Gude Drive, Suite 220, Rockville, MD 20850. For more information, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. Who manages the Montgomery College Foundation?

A. The foundation is governed by a board of directors composed of volunteers: alumni, business people, and other community leaders. Through advocacy, influence, and financial support, these volunteer leaders work to ensure an understanding of and a commitment to the community college goals of opportunity, inclusion, and educational achievement. For a list of current members of the foundation board, please click the following link, Montgomery College Foundation Board of Directors. Carol Rognrud, executive director of the foundation, can be reached at 240-567-7493 or carol.rognrud@montgomerycollege.edu

Q. What is the Montgomery College Foundation's Tax ID Number?  

A. The Montgomery College Foundation's Tax ID Number is 52-1267008. For more information, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu

Q. Will my gift make a difference, if I can't make a large gift?

A. Gifts of all amounts are welcome. When many small gifts are combined in the Montgomery College Fund, more students receive the support they need to attend Montgomery College. For some students, receiving a scholarship of just a few hundred dollars can make the difference in whether or not they can enroll! If you need information about the tax benefits of giving to the Montgomery College Foundation to help determine how much you can give, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu

Q. What is the easiest way to make a gift to the Montgomery College Foundation?

A. While there are numerous ways to make gifts, the two easiest ways are to 1) mail a check payable to Montgomery College Foundation to 40 West Gude Drive, Suite 220, Rockville, MD 20850 and 2) use a credit card to give online at www.montgomerycollege.edu/onlinegiving Montgomery College employees may make gifts by arranging for payroll deduction. For further information, contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.

Q. Can I make a gift of stock or property to the Montgomery College Foundation?

A. Yes. For specific information on how to arrange and transfer such gifts, contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu.  

Q. Can I specify how my gift will be used by the Montgomery College Foundation?

A. You can designate the purpose of your gift in a number of ways. If you are interested in designating your gift, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu to explore the best way for the Montgomery College Foundation to accommodate your interests.

Q. Can I make a gift for scholarships even though the semester has started?

A. Yes. Student needs are constant throughout the year, and gifts to meet those needs are greatly appreciated. For more information contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu

Q. Can I make arrangements to give a monthly or quarterly gift?

A. Yes. The Montgomery College Foundation website provides opportunities for recurring payments at designated intervals, (i.e., monthly, quarterly or annually). College employees can request payroll deductions. For further information, contact contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu

Q. Can I make a contribution to the Montgomery College Foundation in honor or in memory of someone?

A. Yes. Tribute gifts in honor or in memory of a friend or relative can be made in any amount. The foundation will send a card to the individual or the family indicating that such a gift has been made with the name of the donor, but not the amount. For further information on tribute gifts, please contact contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu 

Q. How do I set up a scholarship fund named for a friend or relative?

A. If you are a current, former, or retired employee of the College, a named scholarship can be established with a minimum gift of $10,000. Other individuals, corporations, foundations, or associations can set up such a fund with a gift of $25,000 or more. Multiple individuals or organizations can give to named funds. Named funds can be established for current use or as an endowment. For more information on establishing a named scholarship fund, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.  

Q. What is the difference between a making a gift for current use or for endowment?

A. A current use gift is expended by the foundation within the College's current fiscal year (July 1 to June 30) or a reasonable time period beyond. A gift for endowment allows you to support Montgomery College’s educational endeavors in perpetuity. A principal gift to the endowment is invested through Montgomery College Foundation, and a percentage of the earned interest (generally, after an average three-year incubation period) is drawn each year and spent in support of a Montgomery College program or scholarship. An endowment of $45,000, for example, generally yields enough interest annually to provide one full-time student in-county tuition and fees for one semester. An endowment of $90,000 generally yields enough interest annually to provide one full-time student in-county tuition and fees for one academic year. For further information about establishing a scholarship fund, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.

Q. If I set up a scholarship fund, will I get the names of the students who receive my support? Can I meet them?

A. The Montgomery College Foundation sends annual financial reports and thank you letters from student recipients to donors who establish scholarship funds. Donors have the opportunity to meet their student scholarship recipients annually through our scholarship recognition event or an individual meeting. For further information about establishing a scholarship fund, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu.

Q. How can I make a corporate or foundation gift to Montgomery College Foundation?

A. Corporations and foundations can support scholarships, special programs, or activities of an academic department with a grant or a sponsorship. The foundation also accepts in-kind donations of equipment and, in some cases, services. For further information, please contact Rose Garvin Aquilino, director of corporate and foundation relations at 240-567-4249 or rose.garvinaquilino@montgomerycollege.edu.

Q. How can Montgomery College students benefit from my retirement plan?

A. This is the easiest type of planned gift to make. Obtain a beneficiary form from your retirement plan company and enter the name of the beneficiary as: "Montgomery College Foundation." Enter the beneficiary's social security number as: 52-1267008 (the foundation's tax identification number). If you would like to designate your gift for a particular purpose, please contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu. Anyone who designates the Montgomery College Foundation as a direct beneficiary of a retirement plan qualifies for membership in the  Montgomery College Foundation Legacy Society.

Q. How do I leave Montgomery College in my will?  

A. You can name the Montgomery College Foundation as a beneficiary in your updated will or in a codicil. You can designate a percentage of your residual estate or a specific dollar amount. For further information or to receive suggested bequest language, contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu. Anyone who includes the Montgomery College Foundation in his or her will qualifies for membership in the  Montgomery College Foundation Legacy Society.

Q. What are the benefits of designating Montgomery College Foundation in my will?  

A. If you are age 60 or older, you can receive immediate gift credit today for a bequest that will benefit future generations of students. You will also qualify for membership in the  Montgomery College Foundation Legacy Society. For further information or to receive suggested bequest language, contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu.

Q. I heard that there is a way for me to make a gift directly from my Individual Retirement Account (IRA). How do I arrange this so that it benefits Montgomery College students?  

A. This is called an IRA Rollover gift.  When the law was in place, people age 70 ½ or over could make a gift of $100,000 or less directly from their IRA to a qualified 501c3 charity and not have to recognize the distribution as taxable income.  Because Congress didn’t extend the legislation, it is not currently available.  If Congress decides to create this opportunity again, this FAQ answer will be updated to reflect that.  For any further questions related to this type of gift, please contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu

Q. I'd like to make a gift to benefit Montgomery College students, but it will be a small one given that I'm retired and living on a fixed income. Is there a way I can leverage my giving?

A. There are two common ways to make a larger gift. Charitable remainder trusts and charitable gift annuities allow you to give a gift in return for a stream of payments for a term of years or based on one or two lives. Each of these planned gift instruments has its own special advantages. Please visit the Planned Giving pages of this site or contact Carol Rognrud, executive director, Montgomery College Foundation at 240-567-7493 or  carol.rognrud@montgomerycollege.edu. Most people who establish these types of gifts qualify for membership in the Montgomery College Foundation Legacy Society.

Q. I want to make a gift to Montgomery College Foundation today, but also need to preserve the core of my investments to live on and an inheritance for my children. How can I balance these needs?

A. There are many ways to structure gifts to achieve your philanthropic and personal financial goals. Visit the Planned Giving pages of this site or contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu for more information.

Q. I have a life insurance plan that I no longer need, but the surrender value is very low. Would this make a good gift?

A. In most circumstances, it would. Anyone who makes the Montgomery College Foundation the primary beneficiary of a life insurance plan qualifies for membership in the Montgomery College Foundation Legacy Society. Please contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu.for more information.

Q. I wish I could make a major gift for student scholarships, but my largest asset is my home and I plan to retire in place. Can I leave my house to the College in my will?

A. Yes, but you also could save taxes by making this gift now. Such a gift is called a retained life estate. You can deed a primary home to the Montgomery College Foundation and continue to live in it until you move out permanently or pass away. At the time the home is deeded, you receive a charitable tax deduction for the future value of the home. A vacation home can also be used to make a gift. If you are age 60 or older, you might be eligible to receive gift credit now. Please contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu for more information. Anyone who establishes a retained life estate qualifies for membership in the Montgomery College Foundation Legacy Society.

Q. Can the Montgomery College Foundation staff recommend estate planning professionals to assist me?

A. The Montgomery College Foundation, through its Planned Giving Advisory Board of volunteer professionals, can recommend several estate planning advisors. For further information, contact Francene Walker, major gifts and planned giving director at 240-567-7491 or francene.walker@montgomerycollege.edu.. 

 


Montgomery College

Montgomery County, MD

240-567-5000

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