>>>First our organization has a 501(c)3 status based on our educational mission.

The ccgtcc is an educational institution?

Now that's interesting. I would like to see the 990. Do you have a copy online for public inspection?

>>>I hope this short explanation helps clarify some of your questions

Yes, it does. It addresses how the fund is needed to further the exempt purpose of the organization and provide benefits for the members and the community at large. This is a much better explanation than simply "we want a place to hang our hat".

>>>If you have specific questions feel free to ask

The first thought that pops into my head is: What is the contigency plan with respect to the funds donated/raised should the project be discontinued for any reason?