Review Agenda Item
Meeting Date: 6/7/2019 - 6:00 AM
Category: Schools, Business and Community Partnerships
Type: Info
Subject: Establishing an Education Foundation Fund
ACPS 2025 Strategic Plan Goal:
Objective 2.4 Partnerships and Civic Engagement
ACPS will partner with external organizations to extend its services and programs, to encourage a sense of community ownership of our schools, and to support the development of the academic, social, physical, creative, and emotional needs of students. (ACYMP 2.3, 3.1)
Policy:
Funding Source or Fiscal Impact (where applicable)
File Attachment:
190607_Ed Foundation Fund.pdf
190607_Attch 1_Filed of Interest Fund Fact Sheet.pdf
190607_Attch 2_Field of Interest Agreement_3.18.19.pdf
190607_Attch 3_Field of Interest Advisory Committee Form.pdf
190607_Attch 4_Investment Recoomendation Form 42618.pdf
Agenda Item Summary: In a presentation to the School Board on March 7, 2019, it was indicated an option of creating an Education Foundation Fund through ACT for Alexandria to support the Alexandria City Public Schools. The advantages of establishing a fund through ACT for Alexandria instead of developing a separate 501(c)3 nonprofit are immeasurable, particularly in relation to ease of set-up, logistics, resource allocation and costs. This fund could easily transition to a separate 501(c)3 nonprofit in the future if a determination is made that such action would provide increased value to its purpose and function.
Background: The 2016-17 school year brought renewed interest by ACPS senior staff in the feasibility of creating an education foundation to support the school division. The concept had been attempted in 2011 but, due to logistical and procedural reasons, was not successful.
Recommendation: The Superintendent recommends the School Board review the information provided in the brief.
Approvals:
Recommended By:
Signed By:
Veronica Tellez - Executive Assistant
Signed By:
Dr. Gregory C. Hutchings, Jr. - Superintendent