Fayetteville Public Education Foundation

Frequently Asked Questions

Questions

1) Why a foundation for public education in Fayetteville?
2) How will the Foundation's funds be used?
3) Who can apply for a Foundation grant?
4) Can the Foundation replace traditional sources of public school funding, such as millages and general state revenues?
5) Can the Foundation really make a difference?
6) What accountability is there for Foundation funds?
7) Is the Foundation a part of the Fayetteville Public Schools?
8) How are the Foundation's directors chosen?
9) Does the Foundation compete with the PTAs, booster clubs, and other groups for community financial support?

 

Answers

1) Why a foundation for public education in Fayetteville?

Public schools are state funded by tax dollars, which do not provide money beyond the basics for education. We want our students to have the resources, programs, and opportunities they need to provide them with nationally competitive education experiences designed to help them reach their full potential. Public education is tasked with educating every child from the learning disabled to the college-bound. Our endowment is an investment by our community to establish a long-term plan for continuing Fayetteville's commitment to excellence in public education.

2) How will the Foundation's funds be used?
First, only net income from the foundation will be available for projects, thereby preserving the principal to provide a perpetual source of funding. Second, the funds will be distributed either in response to grant applications or to projects internally developed by the Foundation's Board of Directors.

3) Who can apply for a Foundation grant?
Any person or entity proposing a project deemed by the Foundation's Board of Directors to be meritorious can receive a grant from the Foundation. Potential sources of grant applications would include teachers, students, parents, businesses, and other organizations which have an interest in and a capability to improve education.

4) Can the Foundation replace traditional sources of public school funding, such as millages and general state revenues?
Absolutely not!

5) Can the Foundation really make a difference?
Yes! Our public education system performs well on its fixed resources, competently delivering basic education. However, the Foundation provides enhanced and innovative educational resources for our children.

6) What accountability is there for Foundation funds?
The Foundation is recognized under state and federal law as a 501(c)(3) charitable, tax-exempt organization. As such, its financial records are open to public review. Through its committees, the Board of Directors carefully oversees and audits its internal investments, expenses, and the use of grant funds. Licensed and established members of the legal, accounting, banking, and investment professions are all represented on the Board of Directors.

7) Is the Foundation a part of the Fayetteville Public Schools?
No. The Foundation is completely independent. The Fayetteville Public Schools and the Fayetteville Board of Education have no control over the Foundation. Likewise, the Foundation has no control over any aspect of the school district.

8) How are the Foundation's directors chosen?
The initial eighteen-member Board was selected by an ad hoc steering committee from a long list of community leaders interested in public education. The Board members represent many broad and diverse groups throughout the Fayetteville community. Board members serve staggered terms of three years, and their replacements are elected by Board vote. Additionally, three members serve as ex-officio members of the Board: the president of the Fayetteville Board of Education, and the superintendent of the Fayetteville Public Schools.

9) Does the Foundation compete with the PTAs, booster clubs, and other groups for community financial support?
No! Such groups have valid but limited purposes within the public schools and solicit from specific patrons and parent support for limited and special projects. The Foundation seeks support from those interested in the broader application of public education, those who desire to have their contributions applied throughout the system.

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