Guidelines
For The Creation And Operation of a Tax-Exempt Educational Foundation
Question
Delavan CUSD #703 Ed. Foundation Inc.'s Answer
- Who will conduct
the administration and management of the foundation?
Decisions will be made by the Board of Directors often in consultation with
an advisory member
from the board of education and the superintendent.
- Who has control
of the funds?
The foundation has a treasurer who deposits money donated and spends money
approved by the
board of directors.
- Will the efforts
of the foundation benefit the community in addition to the school district?
Yes. One of the goals of the foundation is to improve the already great
relationship between the
community and the school. School projects that reach out
to the community will be supported
whenever possible.
- Will the foundation
accept funds from residents, non-residents, grants, and businesses?
Yes. The foundation will accept money from any
individual or other entity wishing to support
the stated goals of the foundation.
- How
will the funds be allocated?
The first funding project that the board of directors
has voted to fund is the creation of a physical
fitness building adjacent to the high school can be used by both students
and community
members. Once funding for this project has been completed, invitations
will be given to teachers,
and student organizations to apply for grants from the foundation.
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