With the receipt of an anonymous $20,000 donation in October 2000, the Foundation launched a drive to build an endowment fund and in the first year received $129,000! Since then the endowment has grown to $650,000 through additional donations, additions from the Foundation’s annual operating funds, and from investment appreciation.
Each year the Foundation Board decides whether to spend some or all of the fund’s annual earnings on Current District Projects, or whether to “roll it over” into the fund. In any case, none of the direct contribution money is to be spent, thus preserving ongoing earnings that ultimately wind up supporting the District and our students.
All donations to the Foundation are tax deductible. The Foundation is a California nonprofit corporation with tax-exempt status under the California State Franchise Tax Board and under IRS rule 501(c)(3) — Tax ID #94-2907804.
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