HOLYOK, Conn – A new joint fundraising event for both community college and Frederick community college will be held on Saturday, January 23 at 10:30 a.m. at the Westchester Community Foundation in Westchester County, the college announced.
The event will feature the West Chester Community Foundation and Frederick CCSC Community Foundation, the two largest community colleges in New England.
Both schools have been struggling with financial struggles.
Last year, West Chester had to make a major decision to cut its operating budget and close its campuses in two locations, while the Frederick Community Foundation had to lay off 200 staff members in 2015.
The Frederick Community Development Corporation (FDC) is also facing the same financial challenges as the other community colleges.
West Chester is now operating with an estimated $400 million deficit, while Frederick has $150 million in operating deficit.
The West Chester community college has also experienced a series of cuts, and was forced to cancel several programs and start new ones.
The Westchester community is seeking to provide an economic boost to the region, and the Frederick community is looking to expand its campus.
Both institutions are currently operating under the umbrella of the Community Foundation of Westchester.
The two institutions are working to secure a private-equity firm to invest $50 million to fund their expansion.
The two schools are partnering on a $1 million gift for each of their communities, the donation will help the schools maintain the same level of funding and to create more opportunities for students and alumni to attend the two schools.
The donation will be made through a partnership between the two community colleges and the Fredricas.org Foundation.
The Frederick Community Center will provide students with a financial aid aid office, which will also help with their application for scholarships and grants.
The West Chester center will host events to encourage students to attend both schools.