The Garrett College Foundation was founded in 1982 as an independent non-profit (501(c)(3) corporation established to receive and administer funds to further the educational opportunities and the educational environment of Garrett College. The Foundation pursues individual and organizational gifts and grants in support of scholarships, student and faculty development, special programs and capital projects. Gifts may be made for the current fiscal year (annual giving) or may be held in perpetuity to produce investment income (endowment funds). Deferred gifts through bequests, trusts and similar instruments are also welcome. The Foundation Board is responsible for ensuring that charitable gifts to the College are managed wisely and used for the purposes intended by the donors.