||The Calcot-Seitz Foundation was established in 1979 with a $10,000 personal donation from G.L. “Sam” Seitz, the originator of the foundation. Headquartered in Bakersfield, CA, the non-profit foundation is a separate organization from Calcot although the two organizations are closely allied.
The Foundation is governed by a board of nine directors, chosen from the officers and directors of Calcot, its subsidiaries and related cooperatives, as well as from directors and officers of cooperative ginning organizations affiliated with Calcot.
The Calcot-Seitz board is responsible for determining how to make secure investments that provide the maximum income for the Foundation’s funds. Funds are placed in a perpetual account with the interest earnings used to carry out the Foundation’s goal of providing scholarships and grants to students pursuing an education in a field of agriculture.