| | | | | | | | Action Item - 9.
Title: Amendment of Contract with The Fund for The School District of Philadelphia ($600,000)
Board of Education Meeting Date: 5/25/2023
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| | | | | | | | Action under consideration
| | The Administration recommends that the Board of Education authorize The School District of Philadelphia, through the Superintendent or his designee, to execute and perform an amendment of a contract, subject to funding, as follows:
| | | With:
The Fund for The School District of Philadelphia
| | | Purpose:
To continue providing leadership in fundraising activities with the philanthropic community and private donors.
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| | | | | | | | | | Original Start Date: 3/20/2015
| | | Current End Date: 6/30/2023
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| | | | | | | | | | Amended End Date: 6/30/2026
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| | | | | | | | | | Currently Authorized Compensation: $1,640,000
| | | Additional Compensation:
$600,000
| | | Total New Compensation: $2,240,000
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| | | | | | | | | | Location:
All Schools; Administrative Office(s)
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| | | | | | | | | | Description:
The Fund for The School District of Philadelphia is the official not-for-profit entity for The School District of Philadelphia. The Fund’s mission is to generate, direct, manage, and disburse private philanthropic resources in alignment with the District’s goals and guardrails. In this capacity, it has proactively engaged foundations, corporations, businesses, organizations, and individual donors in support of District initiatives since 2015.
The purpose of this Action Item is to enable the District to continue to contribute to the operating costs of The Fund for the next three fiscal years. The $200,000 annual contribution represents approximately 20% of the Fund's total operational budget (which totals $958,000 in 2023). The Fund receives another 25% from individuals, 25% from earned income, and 30% from corporate/foundation contributions.
Over the past five years, The Fund has raised more than $31 million dollars for Philadelphia’s public schools. This funding has helped launch innovative educational initiatives, fund scholarships, purchase novel technology, provide behavioral and emotional supports, and fund many other priorities – both large and small – for schools throughout the District. In addition to providing philanthropic funding, The Fund generates overwhelmingly positive publicity for the District through news and events and assembles a board of diverse and engaged philanthropists and community leaders to support and advocate for public education.
Moving forward, The Fund will continue to align its mission with the goals and guardrails of the District, write grants, grow the base of philanthropic donors, and prepare reports to donors and sponsors in partnership with the District’s senior leadership.
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| | | | | | | | | | Related resolution(s)/approval(s):
May 24, 2014; A-24
March 19, 2015; A-21
June 16, 2016; A-74
June 15, 2017; A-3
May 17, 2018; A-9
August 15, 2019; No. 22
April 30, 2020; No. 13
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| | | | | | | | | | Funding Source(s):
FY 23/24 Operating
FY 24/25 Operating
FY 25/26 Operating |
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| | | | | | | | | | Office Originating Request: Superintendent
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