The Foundation for California Community Colleges was incorporated in January 1998 as the official foundation for both the community colleges and the Chancellor's office. The foundation's legal status is that of a nonprofit organization under Section 510(c)(3) of the Internal Revenue Code. In its 10-year report issued in 2008, the foundation noted it had grown to an organization with over 100 full-time employees and $30 million in annual income.
In May 2008, the foundation accepted a donation from the Bernard Osher Foundation of $25 million to establish the California Community Colleges Scholarship Endowment. The goal of the foundation for California Community Colleges is to raise $50 million by June 2011 and the Osher Foundation has promised to match the money raised up to an additional $25 million, which would bring the total to $100 million. The Scholarship Endowment awards $1,000 each to students, named Osher Scholars, with its goal of providing 5,000 students each year with a scholarship when the $100 million total is reached.
The foundation established the Nursing Resource Center as a means of increasing enrollment in nursing programs by streamlining costs. One such program involves the Centralized Clinical Placement System. All nursing students require clinical placement as part of their education. Limits on the number of placements limits the enrollment in nursing schools. By operating a centralized system more placements can be located and the existing placements can be used more effectively. This program works with the $15 million Nursing Education Investment Fund which provides money to further nursing education in community colleges. Together those programs are expanding nursing education and reducing costs.
The Foundation for California Community Colleges has parlayed the collective purchasing power of the almost 3 million community college students along with faculty, staff and the colleges themselves into the CollegeBuys program. The foundation negotiates discounts for educational products for the greater community college population. From computers, software, office supplies and furniture, the foundation saves millions of dollars per year through this program. That allows the colleges to receive more products for their money and helps students with the costs of education.