PORTLAND SCHOOL BOARD APPROVES INCREASE IN EQUITY FUND EXEMPTIONS FROM $5,000 TO $10,000

Since 1994, through Portland School Board policy, parents in Portland public schools have been able to raise money through “local school foundations” to cover any part of the cost of the basic school budget.

As part of this policy, the School Board requires 1/3 of the funds raised by local school foundations to be set aside in an Equity Fund administered by the Portland Schools Foundation. The Portland Schools Foundation targets the distribution of these one-third funds through two grant programs designed to raise student achievement and close the achievement gap: New Vision Grants and Parent, Family, and Community Involvement Grants.

Because many low income schools are able to raise only a few thousand dollars each year, in 1998 the School Board approved an amendment to the original policy to exempt the first $5,000 from the equity provision.

Following a school and community review process, on December 10, 2007, the School Board voted to increase the exemption of first funds raised annually from $5,000 to $10,000. Local school foundations raising $10,000 or less will keep 100% of their funds. Local school foundations raising more than that will keep 100% of the first $10,000 and any funds raised over $10,000 will be included in the 1/3 – 2/3 distribution. This policy is retroactive to funds raised beginning July 1, 2007.