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INDIVIDUAL
SCHOOL ENDOWMENT INITIATIVE
The Foundation for Madison's Public Schools developed the Individual School Endowment Initiative, which is unique in the country. This initiative was designed to build an endowment fund for each of the schools in the district. Through the generosity of John Taylor and the Clay-Price Fund, each school was offered a $5,000 challenge grant. Schools needed to raise $5,000 toward the establishment of an endowment in order to earn the $5,000 match and establish their $10,000 Individual School Endowment Fund. We are thrilled to announce that as of June, 2007, 48 schools had met the match and established endowment funds. Thirty-two schools have endowment fund balances greater than $20,000 and 8 schools have over $50,000 in their endowments. This initiative has raised over $1.53 million and endowment balances continue to grow. The Foundation’s long-term goal is to see every school have at least $50,000 in their endowment as well as a mutually beneficial relationship with a community partner. To that end, we have established our Adopt-A-School Program.
Annual income from the Individual School Endowment Funds is used to support creative and innovative projects which are not funded within the core school budget. A grants committee at each school often made up of a combination of staff, teachers, parents and students supervises disbursement of the funds which are available through an annual grant process. Grants committees look at their schools in a longer-term, more strategic way when deciding which grants to award.
Forty-eight schools have reached their initial endowment goal and Olson Elementary, opened in 2008, is working to raise the $5,000 needed to establish their endowment. All schools pursue fund-raising efforts so that their Individual School Endowments continue to grow.
If you are interested in learning more about the Individual School Endowment Initiative, please contact Mary Bartzen at the Foundation for Madison's Public Schools at 232-7820 or mbartzen@fmps.org.
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