What is a Local School Fund?
A Local School Fund is a foundation that operates for the benefit of a particular school in the Cobb County school district under the umbrella of the the Cobb Schools Foundation. Currently the Cobb Schools Foundation supports and manages funds for the foundations of 35 individual schools, allowing them to raise funds for their individual schools without the constraints of other school fundraising organizations.
What are the costs associated with becoming a Local School Fund?
There are no upfront costs. There is a yearly fund management fee of $400 which is assessed in $100 increments at the end of March, June, September and December. The only other fees you will incur are credit card processing fees which will vary by usage each month. All audits, tax filings, banking fees, legal fees, insurance, and bookkeeping fees are covered in the $400 year fee.
Our school has a very active PTA. Why do we need a Foundation as well?
A Foundation can raise money to hire instructors and staff to supplement our children’s education. A PTA is unable is unable to do this. A Foundation can also raise money for “big ticket” items and roll the money over into subsequent years if necessary, whereas a PTA must use the money raised in a school year during that school year.
Are there really schools that have successful PTAs AND Foundations?
Absolutely!! Both organizations are important to the over success of the school. With communication and a clear understanding of the role of each organization, there is no reason why both cannot be successful at working together for the overall good of the school.
What can a Foundation raise money for?
A Foundation can raise money to fund anything approved by the school’s Principal that also falls within the CCSD guidelines.
Do we get our own account and checkbook?
No. Under our agreement, the Cobb Schools Foundation acts as the fiscal agent for your Local School Fund. All deposits and check requests come through the Foundation office for processing.
How easy is it to form a Local School Fund under the Cobb Schools Foundation Umbrella?
It is very simple to form a Local School Fund. It is as easy as one form. For a copy of the form or for more information please contact Denise Raymond, Director of Local School Funds.