FEB Donates to NIP Scholarship

First Exchange Bank President and CEO William F. Goettel and Senior Vice President C. Brent Skidmore presented a $10,000 check to Dr. Daniel J. Bradley, President of Fairmont State University, on Wednesday, Nov. 15, in support of the FSU Neighborhood Investment Program (NIP) Scholarship.

"First Exchange Bank is committed to supporting the communities we serve, and Fairmont State University plays a major role in the economy and education system in North Central West Virginia," Goettel said. "We found the NIP program especially attractive as one that helps those students most in need."

The NIP Scholarship benefits West Virginia residents attending Fairmont State whose yearly, family income is less than 125 percent of the federal poverty level. Donors to the NIP Scholarship are eligible to receive a standard federal tax deduction for charitable contributions, and through this program, have the opportunity to receive up to a 50 percent West Virginia state tax credit.

Fairmont State Foundation, Inc., received $50,850 in West Virginia State tax vouchers from the West Virginia Development Office Neighborhood Investment Program to provide giving incentives to private donors.

"We are proud of the opportunity to join with First Exchange Bank in helping our students receive the quality higher education that they deserve," Bradley said. "When this program is fully funded, it will supply over $100,000 of aid to low income students, and that aid will make a difference in the lives of countless students."

To take advantage of the tax voucher program, donors may make a minimum gift of $1,500 to the Fairmont State Foundation, Inc., Neighborhood Investment Program Scholarship. The maximum gift level eligible for a voucher is $25,000. Tax vouchers are distributed on a first-come, first-served basis.

Gifts must be received in full by the Fairmont State Foundation, Inc., by Dec. 31, 2006, if donors wish to apply tax incentive vouchers to this year's tax return. To receive a tax voucher or for more information on this investment opportunity, contact Chris Morgan, Director of Foundation Operations and Finances, at (304) 367-4788 or toll free at (866) 372-2586.

The mission of the Fairmont State Foundation, Inc., is to support, through ethical stewardship, the missions of Fairmont State University and Pierpont Community & Technical College. The Foundation will identify, establish and cultivate meaningful relationships with Fairmont State alumni and potential and existing funding constituencies to meet contributor needs while securing funds and supporters for priority objectives identified by the Board of Governors.