What does an Education Foundation do? or What is an Education Foundation?
The South Bend Education Foundation was established to raise funds and assist with programming for South Bend Community Schools. It is classified by the IRS as a 501 C 3 charitable corporation. Donations are potentially tax-deductible, depending on each donor's individual tax circumstances. The Foundation is governed by a volunteer board of directors.
How can I help the local schools?
You can help by investing your time, treasure, and talent in South Bend Schools. Additionally, you can donate to the South Bend Education Foundation, become a mentor, volunteer to read in a classroom, help coach a sport, join a PTO (Parent Teacher Organization). The first step is to contact the Foundation or the principal at your local school.
How much does it cost to start an endowment?
There is no official minimum cost to start an endowment. However, for an endowment to produce enough income and earnings to make an impact, it needs to reach the $15,000 level. Contact the South Bend Education Foundation for more information.
Can I designate how the endowment disbursements are spent?
Yes, as a donor, you are always able to designate how your gift is used. However, it is important to work with the staff of the South Bend Education Foundation to ensure that the disbursements are going to an area of need within South Bend Schools so that the funds will have maximum impact.
Are donations tax-deductible?
Yes, donations to the South Bend Education Foundation are potentially tax-deductible, however, that always depends on the tax circumstances of the donor.
What do Board members do?
A member of the board of directors of the South Bend Education Foundation is expected to help set organizational policy, provide strategic direction, ensure financial stability, and make a personal donation to the Foundation.
What is expected of them?
Board members are expected to regularly attend board meetings, understand and be able to articulate the mission of the Foundation, always be publicly supportive of South Bend Schools and the Foundation, recruit others to volunteer, donate, and otherwise become involved with the Foundation and South Bend Schools.
How much time does it take?
That depends on each board member's level of involvement. There are typically five regular board meetings per year which are scheduled for 1.5 hours each. Board members are also able to join a committee. Committee members can participate in areas such as governance, marketing, grant review, fundraising and events. The typical board member will spend a minimum of 12 hours per year volunteering.