On May 17, the SBCC Foundation hosted a fun James Bond–themed gala, which raised nearly $400,000 for its noble mission of supporting SBCC students, many of whom are the first in their families to attend college. Although community colleges educate a large percentage of the population and serve students with the lowest income, they receive only a tiny portion of higher-education philanthropy.
The James Bond theme was a nod to the passage last year of Measure P, which authorizes bonds to fund SBCC capital projects. The measure does not provide any student support, but the foundation was the recipient of a $20 million unrestricted grant from MacKenzie Scott in 2021. Four years later, the foundation has yet to disburse any of the $20 million or its investment income, except for $390,000 for the Measure P campaign. Applying a conservative 5 percent annual rate of return to the $20 million yields $1 million in annual income that could have been distributed each year to students in need.
In June 2024, the foundation had $91 million in assets, including $9.94 million in net investment income in the 2023-24 fiscal year. Much of its assets are in restricted scholarships.
According to SBCC Foundation CEO Bobbi Abram, other funds haven’t been disbursed because of leadership changes at the college and the foundation. At the college, there have been five changes since 2019, but Dr. Erika Endrijonas has been at the helm for nearly two years now. At the SBCC Foundation, Abram took over more than a year ago, succeeding longtime CEO Geoff Green. As for the future, Abram stated only that “I anticipate the two organizations will begin conversations this fall.”
SBCC Board of Trustees President Jonathan Abboud asserted that the $390,000 spent on Measure P brought back $230 million through the measure and state matching funds and that the college and foundation will finalize a plan for the remainder of the gift within the next year.
The failure to disburse these funds must be a serious disappointment to Scott, whose approach to philanthropy has been marked by its speed — dispersing $15 billion in the first five years — and its unrestricted nature. As Scott explained in her essay “Seeding by Ceding,” she encourages grantees to spend funds however they choose because “teams with experience on the front line of challenges will know best how to put the money to good use.” Thus, she has doled out large sums without restrictions, all at once, not in tranches, and without any reporting requirements. The foundation’s failure to disburse funds to students in need is an unfortunate blow to Scott’s enlightened approach to philanthropy.
Guests enjoyed cocktails on the Great Lawn, with a border of dazzling sports cars and a panoramic ocean view backdrop. After dinner in a clear tent, incoming Board President and SBCC alumnus Paul Menzel gave a firsthand account of the dedication and quality of SBCC’s faculty. He related how SBCC serves students who go on to earn bachelor and graduate degrees, as well as those who learn a trade or upgrade their skills. He cogently advocated that if you are concerned about the economy, the environment, or democracy, education is where to invest.
Liza Breitenstein, a current recipient of two scholarships from the SBCC Foundation, poignantly expressed gratitude and shared how the scholarships eased her financial burden in pursuing her passion of becoming a radiology technologist. “You aren’t just helping students,” Breitenstein shared. “You are helping families. When students are able to progress and make steps towards professional growth and starting a career, lives change for the entire family.” Auctioneer David Moorman led a successful auction, and SBCC alumnus DJ Darla Bea spun the dance tunes.
The SBCC Foundation, a nonprofit for channeling private donations, this year distributed roughly $6.5 million, including $2.4 million to 1,800 students in the SBCC Promise program. Launched by the foundation in 2016, the Promise covers all tuition, fees, books, and supplies for eligible students for two years. It greatly expands the aid available to low-income students, enabling attendance for many who otherwise could not attend. The State of California has long covered the tuition of low-income students, but the SBCC Promise covers students whose families earn too much to qualify for the state’s program, yet still struggle financially.
Additionally, the SBCC Promise covers the cost of books, fees, and supplies, which can be prohibitive for students. The program is open to students who have just completed high school in the district, enroll full-time, and meet certain ongoing criteria.
Each year, the SBCC Foundation distributes about $2.8 for other student support programs and about $1.3 million for scholarships and book grants. Support programs include a summer bridge program for youth who think college may not be possible for them. This program boasts an impressive 95 percent enrollment rate the following fall. Another program provides childcare scholarships for single parents, while another supports formerly incarcerated individuals.
Last fall (the most recent data available), SBCC served 13,611 credit students, including 7,629 from its district and 340 from foreign countries. Of this total, 3,342 students were exclusively online.
Student speaker Liza Breitenstein | Anthony Zell
Guests enjoy the reception. | Gail Arnold
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