What is an Education Foundation?
Education Foundation is a non-profit organization created to receive, manage and distribute funds to support and enhance local education. An Education Foundation promotes quality education in a school district and serves as a private partner with the district to fund educational programs and projects which are not within the district’s budget and/or which tax dollars cannot be expended.
What are the benefits of an Education Foundation?
Financial support is raised to supplement, not replace, existing school revenues. A perpetual source of funds can be created.
Donations are tax deductible, unless goods or services are received for the donation.
Why was the Foundation created?
The Foundation was created to support excellence in education by providing supplemental funds for enrichment purposes in designated program areas not otherwise funded. Funding does not replace or alter use of funds from traditional tax-based sources.
What is the purpose of the Brock ISD Education Foundation?
The primary purpose of the Brock ISD Education Foundation is to solicit, manage and distribute supplemental funds for enrichment purposes and to create a perpetual source of funds for educational programs and projects which are not within the budgetary guidelines of the Brockl and/or for which tax dollars cannot be expended. The programs funded will emphasize the Foundation’s mission to inspire and enhance education for Brock students.
How is the Foundation funded?
Programs and activities of the Foundation are funded by donations and income earned on investment capital. In-kind and monetary gifts are accepted from individuals, corporations and other foundations.
When are funds allocated?
Some programs are funded annually, while other programs are funded semi-annually or throughout the year, as determined by the Board of Directors.
Is the Foundation a function of the Brock Independent School District?
The Brock ISD Education Foundation is an independent, non-profit corporation governed by its own board of directors, comprised of a cross section of the community, who has a vision for excellence to support the students and staff of the District. The Superintendent and a representative from the Brock ISD Board of Trustees serve as ex officio members.
Who makes the decision on how funds are allocated?
Members of the Board of Directors of the Brock ISD Education Foundation determine how funds are allocated and awarded. Community volunteers are involved as committee members to make recommendations to the Board in some program areas. All identifying information is removed from submitted grants during review process.