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?
PTAs are not a supporting organization for the schools where we hold our meetings. Supporting organizations often contract directly with school districts to act on behalf of the schools and are subject to school oversight and approvals for such items as their budgets. PTA funds raised by PTA members belong exclusively to PTA and can only be used for purposes approved by its members through the budgetary and amending process. Approved uses of funds should be in line with the mission and objectives of the PTA body as a whole.
The Cobb Schools Foundation raises fund from the community to support our schools directly. Whether it be an exclusive school fund or a district-wide initiative, we seek funding to help advance the mission of our common goal: student success.
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.