Endowment
Endowment
[read more]
The objective of the Endowment Fund is to raise unrestricted, permanent funds which will be held in perpetuity and invested in a manner that strives to provide acceptable long-term total returns and to protect the principal from inflation. As such the investment income will be a stable and growing source of income to support the continued excellence of the public school system in San Marino.
The current financial crisis for the State of California is likely to put additional budgetary constraints on our school system. This is the most recent of many budgetary crises resulting from our dependence on the State of California's tax revenues. The shortfall between revenues from the state to support our schools and the budget for our schools in the San Marino Unified School District has grown erratically over the business cycle of the nation and our state. In recent years, the funds required to maintain the excellence in our schools has been over $1,000 per student more than the funds provided through the State of California and local taxes. As this annual shortfall grows, the San Marino Unified School District will need to find additional permanent and stable sources of funds in order to maintain or improve the quality of our public school system.
