Schools Raise Endowment Funds

In order to participate in the initiative, the five schools signed a Memo of Understanding (JJFHSA Grant Agreement) which included general operating requirements, including maintaining 501c3 status and remaining in good standing with regards to BJE and WASC/CAIS accreditation, and being fully compliant with any state, federal or local mandates pertaining to private schools.

  • > BUILD DEVELOPMENT CAPACITY

    lightDevelopment Infrastructure

    Schools agreed to identify a current development staff member, or hire a dedicated development staff member for the school’s endowment efforts. The development subsidy monies would be used only for expenses and salary related to the school’s development infrastructure. It was understood that endowment should not be separated from but rather integrated into a school strategic development plan and therefore funding could be used to strengthen the overall fundraising infrastructure.

  • > MEETING BENCHMARKS

    lightEndowment Benchmarks

    In order to remain a participant in the initiative and to continue receiving grant distributions for tuition assistance and development infrastructure, schools agreed to meet yearly endowment fund pledges and cash benchmarks and deposit those funds in the Los Angeles Jewish Community Foundation for investment. Because endowment development is a long term-process, the first monetary benchmarks were set for the end of the 2nd year of the grant. In addition, given that the targeted endowment gifts were in the 5-7 figure range, payments of those pledges were anticipated to be spread over three years.

    lightLeadership Buy-In

    Both professional (Head of School) and board leadership (Board President) were party to the memo of understanding highlighting the importance of the need to secure buy-in when embarking on an initiative to change the culture within a school and a broader community. In addition, recognizing the potential change in leadership, it was noted that future boards would also be bound by the agreement.

    For further discussion about program benchmarks, the impact of middle-income tuition assistance, schools’ progress both in endowment development and enrollment, and the importance of leadership buy-in, continue on to Outcomes & Lessons Learned.