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Solon Education Foundation

Solon Education Foundation. Funding the Present, Investing in the Future. Mission for Solon Education Foundation (SEF). The mission of the Solon Education Foundation is to maximize opportunities for students, staff and friends served by the Solon Community School District. Purpose and Goals.

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Solon Education Foundation

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  1. Solon Education Foundation Funding the Present, Investing in the Future

  2. Mission for Solon Education Foundation (SEF) The mission of the Solon Education Foundation is to maximize opportunities for students, staff and friends served by the Solon Community School District.

  3. Purpose and Goals Our goals are to advance the potential of individual students and the district through obtaining private gift support for the Solon Education Foundation while continuously laying the groundwork for future fund raising success, in order to aid the district in fulfilling its own mission of excellence and achievement in student education and service.

  4. Our History Initial funding through a bequeath by Irma Zeithamel The amount was $125,000 to the Solon Education Foundation. Formed during the Summer of 2003 Organized as a 501-C3

  5. Tom Gross, President Teresa Kulper, Vice President Lois Geist, Secretary Mike Turner, Treasurer Bob Upmeyer Art Schut Laura Reed Kevin Blind Lynda Irinaka Jim Martinek, SEF Attorney Tim Broghammer, SEF CPA Tawnia Kakacek, bookeeper Board of Directors

  6. What’s in it for YOUR organization to join SEF? • 501-C3 Status - This allows all donations made to your group to be income tax deductible. • Disciplined and well structured investment process. • Resources for financial record keeping. • A board committed to meeting the needs of the Solon students and district

  7. Types of Funds • SEF Directed Unrestricted Funds • SEF Directed Restricted Funds • Group/Donor Advised Unrestricted Funds • Group/Donor Advised Restricted Funds

  8. Solon Education Foundation Accounts TERM OF FUND Short Term Unrestricted Long Term Restricted Board Entire fund balance available Fund income available on an to support the mission on an annual basis and distributed annual basis at the sole accordance with investment discretion of the SEF Board. policy. Checking Account Gifts from earnings Donor/Board Entire fund balance available Fund income available on an for distribution on an annual annual basis based on SEF GIFT DISTRIBUTION DIRECTION basis. The spending policy. organization/donor will submit recommendations Fund minimum $10,000 for distribution Stadium fund Playground fund Math and Science Terms of Funds and Distribution

  9. Asset Management • Asset Manager is Iowa State Bank and Trust • Asset allocation for our long term funds is 60-70% domestic equity and 30-40% fixed income • Short term funds will not generate revenue unless the time frame is in excess of 3-6 months

  10. Administrative Services • There is a annual fee of 1% of the average fund balance related to our fiscal year of July 1st through June 30th, or $50 whichever is greater. Fee may be waived on board decision for individual pass thru checks of $1000 or greater. • This fee provides access to the 501-C3. Letters of acknowledgment will be sent to the donors of gifts greater than $100. • We will also maintain aggregate financial records related to your funds accounts.

  11. Connection to the Community • Greenhouse Project • Math and Science • Playground Renovation Project • Outdoor Events Center Project Grant Process, In November we will offer grants or matching funds for mission related projects.

  12. Questions?? • Contact: • Laura Reed at 624-3231 • Tom Gross at 624-2419 http://www.solonedfound.org PO Box 275 Solon IA 52333

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