Foundations in the Local School District

C. Daniel Raisch

Various types of foundations have been in existence for many years, especially in universities and private schools. More recently, in the past 2 to 3 decades, public school educational foundations have come into existence. The primary purpose of most foundations is to support the organization through financial gifts in the form of grants or outright contributions. Most educational foundations are developed through endowment funds, usually meaning that only interest income can be used to support the foundation's activities and goals. However, it is possible for a donor to specify gifts for a special purpose and that those funds be disbursed within a certain time frame. Most educational foundations are chartered under existing state and federal tax-exempt statutes [501(c) (3)], which encourage community and corporate giving. Developing an educational foundation has become a popular way for local schools, both public and private, to increase the fiscal resources available for their general ...

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