From luaus to thingamajigs, July was busy for volunteers.
By Tracye Funn, Corporate Social Responsibility
Costs for higher education can be expensive and, for some students, finding money to attend college can be overwhelming and discouraging. Washington Gas acknowledges these challenges and in response has established endowments with several colleges and universities throughout our region. With endowments at Bowie State University, Capitol Technology University (formerly Capitol College), George Washington University, Montgomery College and Prince George's Community College, we aim to help students overcome financial hurdles.
So, what is an educational endowment and how does it work? A funder, like Washington Gas, provides an initial investment to be managed by a financial advisor. The annual earned interest can then be distributed as scholarships for students identified as recipients by the educational institutions. Washington Gas' long-term endowments – some dating back to 1988 – have been a financial resource for many local undergraduate students.
Our community outreach has also had an impact. Here are other ways we've helped students and educational institutions:
- Combined value of the endowment funds estimated at nearly $185,000
- Awarded $20,147 scholarship dollars since 2012
- Served on educational boards for the Prince George's Community College Foundation Board of Directors, the George Mason University Life Advisory Board and the George Mason Civil Engineering Institute Board
- Annually sponsored the Prince George's Community College Golf Tournament and dinner fundraiser
- Annually sponsored and provided volunteer assistance at the Montgomery College Science Bowl (In 2021, Washington Gas provided $10,000 to purchase laptops for students after the event was cancelled due to COVID-19.)
- Created the WGL Engineering Scholarship Fund, a one-time $25,000 scholarship
- Established a $5,000 scholarship fund to support students attending Historically Black Colleges and Universities (HBCUs) in partnership with the Williams Franklin Foundation.
Washington Gas has been an active supporter of local communities and causes since our founding over 170 years ago and we're proud to work with local organizations that improve people's health, promote a cleaner environment, support efforts to better educate our youth and as a result, enrich lives today and for generations to come.