|
The Endowment Board began as a vision in 1986 when several members of the Florida Council for the Social Studies board were discussing how service for the classroom teacher could be improved, particularly opportunities for teacher growth. Another initial consideration was to provide financing for attendance to a variety of recognized workshops, seminars and other teacher training institutes. The driving force behind this initiative was the desire to do something that would significantly help teachers.
Funds for teacher training have been available in varying degrees over the years depending in part on legislative action, special interest projects or privately sponsored initiatives. Yet, funding of the sort does not last, and as the eighties gave way to the nineties, professional development funds diminished. Thus, one way to stabilize resources and be in a position to routinely provide assistance to teachers was to create an endowment.
To be able to move beyond this initial talking and envisioning stage, some changes needed to occur within the FCSS organization. This was realized through restructuring of the FCSS and the creation of a mission statement and specific goals. This in turn laid the groundwork for how we would proceed to fulfill our mission and goals.
While the above process was under way, financial changes were necessary. The council went through the process necessary to achieve a Not-for-Profit status, which is a federal exemption from the IRS. We had to become NFP if we wanted to be able to solicit donations from outside sources, and allow those sources to receive a tax exemption.
Since an objective was to create a separate source of funding within the FCSS, there needed to be a separate entity within the board to manage those resources. What was initially a committee became a board when the council agreed to adopt by-law changes. The board was created in 1994, and the president appointed the first members of the board in 1995. In 1996, the board began to meet separately from the Florida Council to conduct the business of the Endowment.
The Endowment Board consists of three elected and three appointed members for terms of three years. Additionally, there are two automatic appointments for one year, which are the president and the Executive Director of the FCSS. Eventual plans include adding a position for a business liaison.
Since one of the prime considerations in establishing the Endowment was to secure stable financial resources, it was decided by the FCSS Board to annually set aside 10% of our annual operating budget for the Endowment account, plus all interest income generated by the FCSS.
Endowment Board Budget Philosophy: The following budget strategies are to be used for the three year period from 2004-2007:
1. A 1/3-2/3 reserve/expenditure allocation is to be used for the Endowment budget.
2. The budget year will be divided into four periods with application deadlines as follows:
Period Deadline for final Application
January-March January 1
April-June March 1
July-September May 1
October-December September 1
The expenditure budget will be divided on the basis of 20% for Endowment Board initiatives and 20% for each of the 4 periods identified above. Funds not expended during a funding period may be added to the other periods or shifted to Board initiatives. This division of funds is a guideline only and is subject to Endowment Board revision as necessary. | 
