EB30, Inc., a non-profit organization, was established in 2008 to conduct fund raising activity in support of the Eric Bassett Memorial Scholarship Fund. The primary goal of EB30, Inc. was to raise sufficient funds to establish a self- sustaining endowment to provide the annual $20,000 scholarship award in perpetuity.
The initial funding for the scholarship came from the generosity of a large number of donors made up of family, friends and businesses in the local community. To supplement these donations, a series of six very successful annual golf tournament fund raisers were held, beginning in June 2008, to raise additional funds. With the completion of the June 2013 golf tournament and auction, EB30, Inc. achieved its goal of fully funding the self-sustaining endowment, culminating six years of active fund raising.
As a supporting organization to the Cy-Fair Educational Foundation, EB30, Inc. directed all proceeds from fund raising activity to the foundation for deposit in the investment fund for the Eric Bassett Memorial Scholarship Fund. The Cy-Fair Educational Foundation manages the endowment fund and administers the award of the annual scholarship. The officers and directors of EB30, Inc. work closely with the Cy-Fair Educational Foundation in support of the common goals of these two organizations.
EB30, Inc. is recognized as a public charity under Section 501(C)(3) and Section 509(a)(2) of the Internal Revenue Code. A Board of Directors, made up of five community leaders, governs EB30, Inc. EB30, Inc. receives no tax dollars from any local, state or national taxing entities.