Wausaukee "Excellence in Education" Foundation
Frequently Asked Questions
1. What is the purpose of setting up the Foundation?
A Foundation is a long term activity to build a monetary fund that will generate interest to be used for programs and activities that come under the Foundation mission.
2. Does all the money go towards the school district?
All funds designated for the Wausaukee Foundation go to the Wausaukee Foundation solely for the benefit of the Wausaukee School District.
3. Why does the money go into the M&M Foundation?
The Wausaukee Foundation is a donor advised fund that was set up as part of the M&M Foundation. The M&M Foundation has the legal and financial expertise, as well as tax-exempt status, to manage charitable donations. The District cannot legally be its own donor so the Wausaukee Foundation is comprised of teachers and community members who are the donors. There is a small fee for these services, but it is far less than if the Foundation would have to hire an individual to manage the funds. Also, pooling funds for investments through the M&M Foundation is beneficial to the entire greater community.
4. How does the money benefit the school district?
A portion of the funds go into a District Activity Account for expenses and mini-grants, while the remaining donations go to the Foundation account to accrue interest. Any interest generated by the funds and up to 10% of the fund principal can be used. The Wausaukee Foundation committee then makes recommendations to the M&M Foundation to make grants to the school district for proposals that are within the purpose of the Wausaukee Foundation.
1. What is the purpose of setting up the Foundation?
A Foundation is a long term activity to build a monetary fund that will generate interest to be used for programs and activities that come under the Foundation mission.
2. Does all the money go towards the school district?
All funds designated for the Wausaukee Foundation go to the Wausaukee Foundation solely for the benefit of the Wausaukee School District.
3. Why does the money go into the M&M Foundation?
The Wausaukee Foundation is a donor advised fund that was set up as part of the M&M Foundation. The M&M Foundation has the legal and financial expertise, as well as tax-exempt status, to manage charitable donations. The District cannot legally be its own donor so the Wausaukee Foundation is comprised of teachers and community members who are the donors. There is a small fee for these services, but it is far less than if the Foundation would have to hire an individual to manage the funds. Also, pooling funds for investments through the M&M Foundation is beneficial to the entire greater community.
4. How does the money benefit the school district?
A portion of the funds go into a District Activity Account for expenses and mini-grants, while the remaining donations go to the Foundation account to accrue interest. Any interest generated by the funds and up to 10% of the fund principal can be used. The Wausaukee Foundation committee then makes recommendations to the M&M Foundation to make grants to the school district for proposals that are within the purpose of the Wausaukee Foundation.