Page 17 - October 2023

TURTLE MOUNTAIN COMMUNITY COLLEGE SITE VISIT (2)
The endowment discussion continued, and Bobby offered a plan for the future. TMCC will develop a comprehensive report, and if the request is approved by the JSF program committee, JSF could negotiate an addendum to the existing TMCC endowment agreement. TMCC agreed to prepare the requested report and indicated that they have funds available this year for the match.
Bobby explained that the report must include the following:
1. Prepare a comprehensive report detailing the past financial activity, including all scholarships awarded from 2007 to June 2023.
2. Provide information on any distributions made from the endowment during this time.
3. Provide information documenting the endowment performance during this time frame.
4. Provide the most recent audit or copies of the most recent financial statements.
5. Provide a copy of the financial investment policy at TMCC.
6. Provide a cover letter from the President supporting the request.
If TMCC wants this request to be considered by the JSF Program Committee at the December meeting, they must submit it by November 15, 2023. If they wish to have JSF review the submission and provide feedback, it should be submitted by November 1, 2023.
There was an additional conversation about the JSF Business and Entrepreneurship program at TMCC. We asked why they had only spent $14,000 this last year for scholarships when they were required to spend 5% of the total endowment ($25,000), as per the endowment agreement. TMCC understood that they could only provide scholarships for entrepreneurship scholars and not business scholars. They have seven students receiving scholarships this fall, but many more business students would be eligible.
We finished with a brief conversation and met with several a students. The students gave a brilliant talk about their work and creating their own business. Jennifer Desjarlais, a Small Business student, talked about how she started a daycare center with her daughter. It was a fantastic story.
Page 15 HORIZONS