The Dare County Boat Builders Foundation recently secured an Endowment Fund and an Access Fund with the Outer Banks Community Foundation, to secure financial security for DCBBF Scholarship Fund. DCBBF has awarded $531,350 in scholarships since 2010. Pictured here: Lorelei Costa, OBCF Executive Director; John Bayliss, DCBBF President; Teresa Osborne, OBCF President; Jason Waughtel, DCBBF Treasurer; and Bruce Austin OBCF Board of Directors
“The decision was made by our board to maximize our existing funds and establish a reserve fund for our organization,” said Jason Waughtel, treasurer of the DCBBF. “We have established two funds with the Outer Banks Community Foundation to accomplish this goal. The first fund is called Dare County Boat Builders Endowment Fund, which is a permanent endowment that will provide scholarships to Dare County students for generations to come. The Community Foundation matched the Boat Builders’ initial contribution of $2,500 dollar-for-dollar as part of the Community Foundation’s Matching Fund Challenge. The second fund is called Dare County Boat Builders Access Fund, which is our reserve fund to provide our organization another option to help fund our scholarships to Dare County students. Both of these funds will help secure financial stability and security for the future.”
DCBBF is a stand alone 501-C3 non-profit Association, supported by local and national businesses and individuals who believe that everyone should have the chance to further their education beyond high school. Each year, the Foundation awards financial aide and assistance to those who apply and qualify. In 2017, The Dare County Boat Builders Foundation awarded $70,000 to 16 high school and 27 college and graduate students, and also pledged for the fourth year in a row to donate $15,000 to Dare County High Schools towards the College Advisor Position. From 2010 – 2017, the Foundation has awarded $531,350 to Dare County students whose families are in the marine industry. It is important to the board of directors to preserve funds and continue this tradition.
The Outer Banks Community Foundation manages 50 scholarship programs on behalf of families, churches, civic groups, nonprofits, and businesses across the Outer Banks. Since the organization’s inception in 1983, the Community Foundation has awarded more than $1.9 million in scholarships to over 1,500 Outer Banks students.
Anyone can establish a scholarship endowment with the Community Foundation, or contribute to one of the existing scholarship funds, including the Dare County Boat Builders Fund and the Dare County Boat Builders Access Fund. For more information, or to contribute to either of these funds, call 252-261-8839 or visit www.obcf.org.