SchoolPower Endowment Supports Language Programs with $500,000 grant
SchoolPower Endowment just presented its ninth installment of its $500,000 grant, of $50,000 a year for ten years, to support LBUSD foreign language goals and its vision to graduate more bilingual students.
About the Endowment
The Laguna Beach Education Endowment and Capital Fund ("The Endowment") is a separate 501(c)(3) charitable foundation that is closely associated with SchoolPower and advances the same goals by providing permanent endowment and capital funding for the Laguna Beach public schools.
Governed by its own board of directors, the Endowment was established in 1984 to build a permanent and strong foundation for the education of present and future Laguna Beach Unified School District students.
Thanks to the generosity of parents, community members and businesses, and to the annual contribution of a share of SchoolPower’s annual fundraising income, the Endowment has grown to $3.5 Million.
Complementing the fundraising efforts of SchoolPower, the lasting gifts made to the Endowment will permanently benefit our youth and strengthen our schools as a central and unifying institution for the entire Laguna Beach community.
Three separate funds — the Endowment Fund, the Capital Fund and Endowed Program Funds — have been established by the SchoolPower Endowment Foundation to facilitate both unrestricted giving and gifts intended for specific projects or programs.
The Endowment Fund
The Endowment Fund was established to create a reliable income stream to promote innovative programs that would not otherwise be fully funded by the School District. Unrestricted gifts are placed and preserved in this fund.
Each year, the Endowment Board and its Grant Committee receive grant applications from School District administrators and individual teachers. Grants are generally awarded equal to 5% of the average amount of fund assets over the preceding three years. All grants are evaluated and ranked based on recommendations made by school site principals and senior School District administrators (see Teacher Grants).
The needs are identified by School District staff and administrators and your elected school board. The Endowment Fund is there to help the School District meet those needs.
The Capital Fund
The Capital Fund is a self-liquidating fund used to support capital needs identified in collaboration with the School District for currently anticipated capital expenditures.
Donations for specific items on the School District's "Wish List" may also be made through the Capital Fund.
Endowed Program Funds
There is no predetermined limit on the number and scope of dedicated program funds that can be explored and established. Each Endowment Program Fund will be developed in consultation with the School District leadership and staff to ensure that each Fund is created to meet the current and future needs of Laguna Beach schools.