NCMC FOUNDATION RECEIVES MAJOR ENDOWMENT FROM THE BAY HARBOR FOUNDATION
PETOSKEY, Mich. — The North Central Michigan College Foundation is pleased to announce that it has received a donation of $500,000 from the Bay Harbor Foundation. This generous gift will be held as an endowment by the NCMC Foundation and will fund annual scholarships through the newly established Bay Harbor Community Endowment.
The Bay Harbor Community Endowment is designed to continue the 20-year mission of the Bay Harbor Foundation Scholars Program, which provided recognition and financial assistance to deserving students with ties to the Bay Harbor community. The scholarships will be available to Emmet County residents, with preference given to Bay Harbor employees and their children or grandchildren.
“After 20 years, the Bay Harbor Foundation is at a point of transition, determining what our next chapter looks like while ensuring the legacy we built continues to benefit the community,” said Jason Allen, chairman of the Bay Harbor Foundation. “We feel that North Central Michigan College will be an excellent steward of these funds, upholding the principles of the Bay Harbor Foundation Scholars Program for future generations.”
The scholarship funds will be distributed in accordance with the NCMC Foundation’s endowed scholarship spending policy, currently set at a 5% annual distribution. The scholarships will be available beginning in the Fall 2025 semester, with three tiers of eligibility:
- Tier 1: Applicants who are either substantially employed within the Bay Harbor community during the calendar year of their application or are the children or grandchildren of a Bay Harbor employee.
- Tier 2: Applicants who have completed their studies at NCMC and are pursuing a bachelor's degree at a four-year institution.
- Tier 3: If funds remain after all qualified Tier 1 and 2 applicants have received scholarships, they will be made available to other NCMC students who are residents of Emmet County.
“This endowment provides a wonderful opportunity,” said NCMC President David Roland Finley. “In addition to honoring the legacy of the Bay Harbor Foundation, it ensures that students from our community will continue to benefit from these scholarships for years to come. The sustainability of this endowment guarantees that it will have a lasting impact on the educational landscape in our region.”
About the North Central Michigan College Foundation
Established in 1989, the NCMC Foundation plays a pivotal role in supporting the mission and goals of North Central Michigan College by connecting innovators and changemakers with causes they care about. The Foundation has achieved significant growth, with assets exceeding $10 million. This allows the Foundation to provide vital funding for scholarships, student support needs, and community enrichment programs. Learn more at www.ncmich.edu/about-us/foundation.
About North Central Michigan College
North Central Michigan College is an open-door community college based in Petoskey with additional offerings in Cheboygan, Gaylord, and online. North Central’s mission is to provide exceptional, accessible, relevant higher education to the benefit of all. An Achieving the Dream Leader College with a designation of Veteran Friendly Gold by the Michigan Veterans Affairs Agency, North Central is a member of the National Junior College Athletic Association and the Michigan Community College Athletic Association. Learn more at www.ncmich.edu.
About the Bay Harbor Foundation
Founded in 2003, the Bay Harbor Foundation is a 501(c)(3) nonprofit organization that was created by a group of Bay Harbor property owners, business owners, and employees dedicated to making Northern Michigan a better place. The Foundation’s mission is to improve the quality of life in the Little Traverse Bay region by providing grants, programs, and mentoring. With a commitment to the highest levels of financial integrity, the Bay Harbor Foundation has built trust with both donors and recipients. Learn more at www.bayharborfoundation.org.
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