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To cap off the largest financial month of donations in University history, the Westfield State Foundation, Inc. will be wrapping up 2020 with matching funds totaling $277,000 from the Public Higher Education Endowment Incentive Program.
Through the incentive program, the Westfield State Foundation, Inc. received 50 cents of matching state funds for every dollar raised for endowments and capital projects. The Westfield Foundation, Inc. received $70,000 of the matching funds in April and the remaining $207,000 this December.
The incentive program, which started in 1996, provides state matching support to encourage private fundraising by foundations of the University of Massachusetts, State Universities, and Community Colleges, or by the institutions themselves. Through this program, the Massachusetts Legislature has appropriated $10 million for the program, available through June 30, 2021. Public institutional allocations included: University of Massachusetts, $5 million; State Universities, $2.5 million; and Community Colleges, $2.5 million.
Learn more about the Endowment Incentive Program here