Update
What is the current state of the Endowment?
As of December, 2007 we have $520,000 in the endowment.
Over the past five years we have made donations of approximately $56,000 to the school. We have been instrumental in funding the IMAC computer lab, software updates for the computers, the Challenge Teacher's salary, the sound system and curtains for the cafeteria, and funding for the school nurse and head science teacher. Currently, for the 2007-2008 school year, we are committed to donating $5,000 (over the next two years) for the playground renovation
What's in store for the future of the Endowment
We are committed to our original goal of establishing a self-perpetuating endowment that can act as a source of needed funding for the school for generations to come. For now, we will continue to donate approximately 5% of the money raised from the 545 membership drive and event, (In 2007, $40,000 was raised) to the school on an annual basis.
When we reach the $1.5 MM mark, we will donate a certain percentage of the endowment back to the school each year, and will adjust that figure as the endowment grows. Our goal is to be able to kick back to the school roughly $20,000/year (in today's dollars) for as long as the school exists! Thanks to your support that goal is getting closer!
Please let us know your thoughts or concerns either by emailing
Mark Nagle at Mark_Nagle@yahoo.comFoundation Board 2007-2008:
- President: Jeri Smith
- VP: Jean Shearer
- Co- Treasurers: Jill Wood; Kristi Guay
- Secretary: Jill Geary
- Membership: Charlotte Wayte; Debbie Jenner
- 545 Chair Brian Hart
- Marketing: Michelle Saro
- Endowment: Nancy Cahill
- Events: OB Jacobi
- PTA Liaison: Mark Nagle
History
A few years ago, several Laurelhurst residents got together to discuss how to develop a sustainable source of income for the Laurelhurst Elementary School. The group later became known as the Friends of Laurelhurst Foundation. The Foundation partnered with the Alliance for Education (http://www.alliance4ed.org/) and established an endowment fund.
Our Goal
The goal for the endowment is to reach an initial threshold amount of $1.5 MM which will be administered in the future by a panel of neighbors, parents, alumni, teachers and staff organized as the Board for the Friends of Laurelhurst Foundation. The Seattle Public School system is unable to fund the many critical needs of the Laurelhurst Elementary students. The Laurelhurst PTA has done an exemplary job of raising funds to meet these needs. The Foundation seeks to compliment these efforts, by building a long term endowment, which will be able to generate predictable funding each year.
Fundraising
The primary vehicle for fundraising for the endowment fund is via the annual 545 Event.
The 2007-2008 school year 545 event is scheduled for:
May 3rd, 2008
The 545 program is a commitment that Laurelhurst parents make to make a donation to the endowment of $500 each year for a total of 5 years. The 545 members are invited to an annual event to celebrate their commitment.
In addition, the endowment is supported by generous donations from the neighborhood, alumni, parents, grandparents, staff and faculty.
Progress towards our goal as of June 2007:
