Presented by Marcia Smith Fleres, MBA Executive Director NJ Education Foundation Partnership, Inc.

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1 Presented by Executive Director NJ Education Foundation Partnership, Inc.

2 What are Education Foundations? Private, nonprofit 501(c)(3) tax-exempt charitable organizations under the IRS Code. Chartered as nonprofit corporations in NJ Privately operated Distinct from Board of Education and Administration Work in partnership with school district Designed to augment, supplement, or complement programs and activities currently being provided by the district (McCormick, Bauer, & Ferguson, 2001).

3 Purpose of Education Foundations Support and enhance education for all students Solicit, manage, and distribute funds not otherwise funded by school district. Identify and secure financial resources Develop partnerships with corporate, business and community Support mission of its local school district Create volunteer opportunities

4 Why an Education Foundation? Managing in Difficult Times Schools throughout New Jersey are currently facing many challenges Decreased tax revenues & government funding Taxpayers demanding lower taxes Pressure to do more with less School budgets not passing Higher operating costs Increased regulations and less flexibility Budget caps Elimination of non-essential programs

5 Value of a K-12 Education Foundation Enhances educational opportunities for students Builds communication & promotes school district Raises awareness of school needs Provides financial support for above and beyond academic and enrichment programs Increases parent and community involvement Offers the community the opportunity to be a part of the solution support education.

6 Starting an Education Foundation Identify key people and partners (be inclusive) Hold a community meeting Create a diverse steering committee Determine name, mission, bylaws, and 3 yr budget Establish Board of Directors/Trustees Legal steps IRS Employer Identification Number Incorporate as nonprofit in State of NJ IRS 1023 application for 501(c)(3) exemption Register with NJ Attorney General s Office

7 What Do Foundations Fund? Teacher classroom grants for innovative programs School focused grants Academic scholarships and grants Special programs Special equipment Professional development Alumni websites ( Note: Funding should be based on needs of the district

8 How do Foundations Raise Funds? Corporate Grants and Partnerships Foundation Grants Individual Donations Fundraising Events (golf outings, auctions, galas) Teacher Recognition Programs Alumni Support All donations to the Foundation are tax deductible to the full extent of the law!

9 How are Funds Allocated? The Foundation s Board of Trustees decides which projects/programs to fund Teacher grants are usually funded on a competitive basis Funded projects should be aligned with district s priorities Donors may direct their contributions to specific areas

10 Does the Foundation compete with PTA, PTO, or Booster Clubs? The Foundation is not intended to replace or supplant parent-teacher or booster clubs. Education Foundation may collaborate with groups to fund teacher grants or special projects Education Foundation serves the whole district, not just an individual school or club

11 Best Practices of Effective Foundations Board of Trustees and Governance Financial Management Strategic Planning Collaborations/Partnerships Fundraising Marketing Information Technology Management

12 Benchmarks of Highly Performing Foundations 1. Financial resources: enough to meet goals 2. Working Board of Directors 3. Projects aligned with school and district administration 4. Programs that resonate with your community 5. Paid staff/executive director 6. Strategic Planning: mission, vision and case 7. Supportive organizational structure (Source: NSFA, 2008)

13 NJ Education Foundation Partnership Dedicated to improving public education in New Jersey by promoting local education foundations. Assists communities and schools in the development and evolution of local education foundations. Provides training and education on best practices, fund development, board management, marketing, and more. Promotes collaboration among education foundations and other school and community-based organizations.

14 NJEFP (continued) Helps local education foundations determine how to focus community resources in support of schools. Increases public awareness of the important role of local education foundations in New Jersey. Coordinates regional programs for students. Advocates for public education in the State of New Jersey.

15 Resources NJ Education Foundation Partnership, Inc. National School Foundation Association

16 NJ Education Foundation Partnership, Inc. P.O. Box 908 Princeton Junction, NJ Website: Executive Director

17 THANK YOU!

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