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La Cañada Flintridge
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Endowment
Fund mission statement Endowment Fund mission statement The Endowment Fund of the La Cañada Flintridge Educational Foundation is committed to enhancing the educational standards and reputation of the La Cañada Unified School District, one of the country's most highly regarded school districts. Annual gifts to LCUSD provide the means to achieve this. The Endowment Fund's mission is, in perpetuity, to increase and stabilize the long-term growth of gifts to LCUSD. What
is the Endowment Fund? The Foundation's Endowment Fund is a cornerstone of the Foundation's funding strategy. Over time, the Endowment will grow to a very substantial size and provide larger contributions to the Foundation's annual Campaign. Subject to certain restrictions, the Endowment transfers 5% of its net assets to the Annual Campaign each year. As the Endowment grows, larger contributions will be made each year to the Annual Campaign. As a permanent fund, donations to the Endowment are gifts that keep on giving. The Endowment is a fund for the future, the future of our children and all of La Cañada Flintridge. top Endowment Fund Key Statistics Through ongoing generous contributions and prudent management, the Endowment Fund’s assets have grown to approximately $3 million. Subject to certain restrictions, the Endowment Fund contributes roughly 5% of its net assets each year to the Foundation's annual fundraising campaign. As a result, as the Endowment Fund has grown, the annual gift from the Endowment Fund to the Foundation's Annual Campaign has grown –with the 2005/2006 Endowment gift totaling $103,690 –nearly 10% of the total amount raised by the Foundation. Below are charts which clearly show the growth of the Endowment Fund and
the support provided to the annual campaign:
The Endowment Fund Millennium Campaign The Endowment Fund has launched a "Millennium Campaign" with the goal of growing the Endowment through additional donations and asset appreciation to $10 million. Our goal is to grow the Endowment Fund to a size that will ensure the continuity of the important programs that the Foundation supports, regardless of any fluctuations that may occur year to year in annual giving to the Foundation. If we are able to achieve our long-term fundraising goals, the Endowment Fund would generate approximately $500,000 per year in annual contributions to our schools. At that level of funding, we can ensure that the important programs supported by the Foundation will be secure in perpetuity. Contact us for more information about how you can support the Millennium Campaign. The La Cañada Flintridge Educational Foundation had long discussed the need for an endowment fund, whose income would supplement the Foundation's annual contribution to the La Cañada Unified School District. In June, 1991, Gene Stein, a Director of the Educational Foundation, volunteered to lead the effort to establish a permanent Endowment Fund. An endowment committee held meetings during the summer and autumn of 1991 with community leaders, individuals with experience regarding endowment funds, the Administration of the school district and the Educational Foundation board. These efforts resulted in the By-laws for the Endowment Fund, approved by the Foundation's Board of Directors on February 13, 1992. The Endowment Fund was established as a permanent fund whose purpose was to enhance and stabilize the long-term growth of the Educational Foundation's annual gift to the public schools in La Cañada Flintridge. The intention was that the Endowment Fund would give individuals and organizations an additional way to support La Cañada's public schools. Investment policies were to be prudent and long term oriented. Disbursements from the Fund were to be made in January of each year and only to the Foundation's annual campaign for the schools. Disbursements were to equal 5% of the fund assets on January 1 of the prior calendar year. Any change in this disbursement policy requires a two-thirds majority vote of all the Foundation Directors then in office. The bylaws also established a separate five person Endowment Committee (later renamed the Endowment Trustees) to oversee and administer the Fund. The initial members of this group, elected by the Foundation's Board of Directors, were Bill Horsfall , Laura Olhasso , Neal Brockmeyer, Charles Broberg, and Gene Stein. Fund raising began in June, 1992. In the first year of fund raising, 57 individuals or organizations joined the permanent group of Charter Contributors who gave $1,000 or more during the fiscal year ending June 30, 1993. In that first fiscal year, the Fund received paid contributions of $61,420, and additional multi-year pledges of $58,250. In 1996, the Trustees and the Foundation established a goal of $1,000,000 in Endowment Fund assets by year-end 2000. A campaign was announced to reach this goal, encouraging donors to contribute $7,500 over 5 years. At December 31, 2000, the Fund's assets were $1,118,922. The Fund made its first disbursement in January 1994 to the Educational Foundation's annual gift to La Cañada's public schools. That first gift was $1,224, which was 5% of the Fund's total value on January 1, 1993. Disbursements increased steadily during the decade of the 1990's, reaching $47,438 paid in January, 2001. As the Endowment Fund grows, it will provide larger contributions to the annual gift and help to increase the quality of La Cañada's schools. By mid 2001, the Endowment Fund had become a significant part of La Cañada Flintridge and its priority toward education. La Cañada's schools have one of the few K-12 public school endowment funds anywhere. Over time, the Fund will grow to a very substantial size and provide large additions to the annual gift from the Educational Foundation. This is a fund for the future ... the future of our children and all of La Cañada Flintridge. Please consider a generous gift to the Endowment Fund. Your gift will make a lasting difference. It's an investment in the future of both our schools and our community. For additional information on the Endowment Fund and ways to participate, please contact Brad Weirick at (818) 790-9522, Mike Goldberg at (818) 952-7020 or Kelly Odgers at (818) 790-5292. For email inquires, contact the La Canada Flintridge Education Foundation at lcfef@lcusd.net. |
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