Seattle Foundation transfers multimillion-dollar endowment to
Skagit Valley College Foundation
The Skagit Valley College Foundation announces that it will take over management of a major scholarship fund benefiting SVC students for more than 20 years.
The Sidney S. McIntyre Jr. Memorial Scholarship Fund was previously managed by the Seattle Foundation, although the logistics of recipient selection, promotion, and distribution had been under the direction of the SVC Foundation.
According to the McIntyre family, they decided to transfer the endowment to recognize the role the SVC Foundation has played in the Skagit Valley community.
“The McIntyre family deeply appreciates the years of stewardship of the endowment under the Seattle Foundation,” said Tessea McIntyre Smith, daughter of the late Sidney S. McIntyre Jr. “Giving back to the community that enabled his success was an important part of my father’s legacy and in that spirit, we decided to officially transfer the fund to the Skagit Valley College Foundation.”
Annual income from the more than $3.1 million endowment will be used to fund scholarships enabling students earning associate’s degrees from SVC to pursue bachelor’s degrees in science and engineering. The scholarships will help cover tuition, books, materials, and room and board at public institutions of higher education in the state of Washington.
As the one-time vice president of Skagit Corporation, which was originally founded as Sedro-Woolley Iron Works and evolved into Skagit Steel & Iron Works, McIntyre Jr. had a very personal motivation for establishing the endowment that bears his name, in addition to a philanthropic desire to support higher education in his community.
“During the time my father was ill, he had an in-home nurse who was attending SVC,” McIntyre Smith recalled. “She had gone through a divorce and had two children and was putting herself through school.”
“My dad was very fond of her and one day he called me to say that we should create a scholarship for students at SVC who needed a little extra help,” said McIntyre Smith. “The requirement would be that when they got their degree they would be expected to give back to the community.”
According to McIntyre Smith, the endowment has had a tremendous impact on its recipients over the years since its creation.
“I get to read their letters about what they have accomplished after graduation,” said McIntyre Smith. “If it hadn’t been for that gift, who knows how things might have ended up.”
“We are honored by the trust that the McIntyre family has placed in us,” said Brad Tuininga, executive director of SVC Foundation. “Sidney S. McIntyre Jr. believed that people and communities should have the opportunity to rise to their potential and we’re proud to keep his memory alive through the stewardship of the endowment that bears his name.”
To learn more about the Sidney S. McIntyre Jr. Scholarship, contact Brad Tuininga at SVC Foundation, at email@example.com.