Today’s fashion world needs creative thinkers, savvy professionals and visionary leaders. The LIM Fashion Education Foundation endeavors to provide talented LIM College students with the financial support they need to pursue an education that will lead to a successful career.
The LIM Fashion Education Foundation was founded in 1977, in response to students’ financial needs. A 501(c) (3) non-profit organization, it is separate and distinct from LIM College. 95% of donations go towards scholarships and foundation-related activities.
Since 1979, the LIM Fashion Education Foundation (LIM FEF) has awarded more than $1 million in scholarships to deserving students to help bridge the gap between the cost of an education at LIM College and what they and their families can afford. In a time of increased student need, we are seeking to transform our fundraising to increase the number and size of scholarships and to provide more educational enhancements that directly benefit LIM students.
Mission: Our mission is to help students who have chosen to attend LIM College – primarily by raising scholarship money to help them attend and graduate from LIM College. Our primary purpose is to raise and administer funds for scholarships and educational enhancements that benefit LIM College students.
Funds: LIM FEF’s funds have been raised through support from individuals, alumni, corporations, and special events. They now stand at just over $1 million and LIM FEF has worked hard to invest them wisely. To ensure longevity, total annual scholarship awards are capped at a payout rate of 5% of the average asset value of the funds over the past three years.
Leadership: LIM FEF is managed by a volunteer Board of Directors, which brings quality and diversity to the scholarship program.
LIM FEF Funding Priorities
Our 39 years of experience funding scholars provides an excellent foundation from which to address students’ economic and educational needs. LIM FEF will always put LIM College students first.
A key funding priority will remain providing scholarships to deserving LIM College students, but on a much greater scale. With 45% of our student body demonstrating significant financial need, and only 5% students receiving scholarships from LIM FEF, we must significantly expand our fundraising efforts.
In addition, we want to fund educational enhancements that directly benefit LIM College students. Educational Enhancements could include but not limited to;
- Building on the LIM College study abroad programs and student exchanges, which currently are in Australia, China, London, Madrid, Paris and Rome, to offer students more opportunities to travel and learn abroad and become more globally aware as the fashion industry is truly international
- Providing technological resources to students to keep up with the ever-changing environment
- Supporting student and faculty research
- Funding faculty to travel to and participate in conferences, training, and industry events and bring back the most up-to-date information to the College and classrooms
We must do everything we can to make the dreams of deserving LIM College students come true. Transforming giving will require unprecedented commitment from our supporters and new donors.