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Creation of a Non-Profit District Foundation

Creation of a Non-Profit District Foundation. A Report to the Board of Education May 3, 2011 Prepared by Facilities and Planning. Why a Non-Profit District Foundation?.

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Creation of a Non-Profit District Foundation

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  1. Creation of a Non-Profit District Foundation A Report to the Board of Education May 3, 2011 Prepared by Facilities and Planning

  2. Why a Non-Profit District Foundation? • Could provide an outside revenue source to help off-set co-curricular expenses such as sports, performing arts, and academic teams • Also might be used to support lab fees, shop materials, technology, specialty support items required by Small Learning Communities Non-Profit Foundation

  3. Create a Name Draft Articles of Incorporation Draft Bylaws Appoint Directors Apply for Employer Identification Number Apply for Federal Tax Exemption with the IRS Apply for California Franchise Tax Exemption Register as Charity Obtain other necessary local permits Obtain non-profit mailing permit Foundation Creation 101 Non-Profit Foundation

  4. General Issues To Consider • Start-up costs - $5,000 - $8,000 • District fronts; Foundation pays back • Formation could take between 3-6 months • Foundation separate entity from District • 10 - 20 Directors on Foundation Board • Be realistic and conservative in fundraising expectations Non-Profit Foundation

  5. Next Steps • Through Board consensus, direct staff to move forward with the Foundation’s creation • Start process of foundation establishment while recruiting directors • Develop a fundraising goal and comprehensive expenditure plan Non-Profit Foundation

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