The Foundation for Madison's Public Schools is delighted to announce that the Madison Community Foundation has made a $90,000 challenge gift that now brings the total raised for the Individual School Endowment Initiative (ISEI) to more than $1 million! Under this challenge, the Madison Community Foundation will give an additional 50 cents for every one of the first $3,750 raised for each school's endowment fund. Gifts from all donors, including those made by district staff during the 2007 Employee Giving Campaign, will count towards meeting this challenge.

This challenge is helping to launch Phase II of this first-in-the-nation school endowment initiative, with a goal of having each school reach a $50,000 fund balance within the next few years. Already, school-based fundraising committees are soliciting matching gifts from their supporters and the Foundation is optimistic that this challenge can be fully met by the end of the current school year. Fully meeting the Madison Community Foundation challenge will result in raising over $5,600 for each of the 48 school endowments.

School-based grants committees use the income from these endowments — roughly 5% of each school's fund balance — to support special programs and projects that are outside of the core school budget. This past year, 21 schools chose to make grants from their ISEI funds totaling over $14,800. Over the years, as more schools begin making ISEI grants and as the balance in these funds grows through additional fundraising and stock market appreciation, this grantmaking total will rise dramatically. These school endowment grants are in addition to the other grants made each year — roughly $64,000 in 2006 — to our schools from the Foundation's other donor-designated funds and its annual unrestricted fund grants competition.

The Madison Community Foundation Board of Governors made their challenge gift to recognize the successful efforts of parents, district staff and community supporters of the public schools to raise funds for these endowments. The Madison Community Foundation gift was also made in recognition of the vision that local philanthropist and former FMPS Board member John Taylor had in providing the initial challenge gifts for this initiative. This gift is especially remarkable in that Madison Community Foundation — which makes grants throughout our community using its own substantial endowment — rarely makes grants to other endowment funds.

Please encourage your school's supporters to contribute to their school endowment and help meet this wonderful new challenge. It's not every day you can increase your charitable contribution by 50%! If you have questions or need additional information, please contact FMPS President Martha Vukelich-Austin, mvaustin@mailbag.com or 232-7820.