Report: Williamsport schools’ education foundation valued at $2.25 million
In a presentation to the Williamsport Area School Board, Greg Hayes, executive director of the district’s education foundation reported that the total asset value of the foundation as of the end of last month was $2.25 million.
Hayes told the board Tuesday night that the total revenue and pledges received during the current fiscal year totaled $391,217, of which $229,536 is committed to the Kids’ United Community Playground.
Total received to-date for the playground is $402,004, which is over 100 percent of the goal.
The foundation was established in 2004 and is governed by a 20-member volunteer board of directors. The district’s foundation is one of 312 in the state.
The purpose of the foundation, according to Hayes, is to “facilitate charitable giving and permanent legacies based on individual areas of interest in educational innovation, the arts, athletics and scholarships.”
Last year, the foundation awarded $155,603 in grants to the various program areas.
During the last five years gifts, grants and other revenues for the foundation totaled over $2.9 million. Grants alone have surpassed $1.8 million, according to Hayes’ report, and the foundation’s net assets have grown by $377,727.
Looking ahead, Hayes said that there are key areas that the foundation wants to focus on in the future.
“We’re looking at increasing our payroll deduction enrollees. Continued efforts to increase our unrestricted gifts,” he said. “That’s been a concerted effort for us because a lot of our money comes to us restricted, a lot of scholarships a lot of directed gifts that come to us for certain purposes. We’re trying to increase our unrestricted pool of money so that we have more flexibility in what we can grant out, how much we can grant out,” he said.
Other area of focus are a continued effort in strategic grantmaking, partnering with community groups for the Kids United Community Playground and a donor database conversion.
Hayes noted that the database conversion includes transferring over 1,200 donor accounts and 3,600 transactions totaling more than $3.34 million in the system.
“Basically what this will do is really increase our efficiency in terms of cultivating donors, increased efficiency in terms of donor management and reporting. It brings us up to speed with a system that’s more development oriented in terms of how you manage your donors in your system,” he told the board.
Bloomerang will be doing the conversion for the foundation.