Saddleback College is pleased to announce that the Saddleback College Foundation raised $794,562 under the statewide Osher Initiative for California Community College Students which combined with $397,281 in matching funds and a lead gift of approximately $335,588 provides an increase of over $1.5 million to the foundation’s scholarship endowment.
Saddleback was tasked by The Bernard Osher Foundation to raise $671,175 over the past three years to receive their matching fund gift, and the college exceeded this goal by raising an additional $123,387 making it one of only 33 colleges out of the 112 California community colleges that met or exceeded its fundraising goal.
Dr. Tod A. Burnett, stated, “These scholarships mean the world to our students and I am very proud of everyone in our college community who personally donated and helped solicit donations to this worthy cause. I am extremely thankful to our Saddleback College Foundation and The Bernard Osher Foundation for believing in community college students and the benefits of a community college education.”
Donna Varner, President of the Saddleback College Foundation, stated, “It is a joy to be able to award scholarships to so many deserving students every year. This endowment allows us to positively impact more lives than we ever thought possible and everyone in the foundation is grateful to those who donated.”
As a result of this endowment, the foundation awarded 49 additional $1,000 scholarships to deserving students at the college’s annual scholarship ceremony in May, and expects to award over 80 of these scholarships next year and every year in perpetuity.
The Osher scholarship program is a result of an initial $25 million gift and $25 million in potential matching funds from The Bernard Osher Foundation to the Foundation for California Community Colleges to establish an endowment to provide permanent scholarship support to community college students throughout the state. All told, this unprecedented gift resulted in a permanent scholarship fund that exceeds $67.7 million statewide, enough to fund more than 3,300 scholarships a year, forever.