The Foundation for Springfield Public Schools manages three types of funds outlined below. These funds provide both ongoing and immediate support to enhance learning and support students in Springfield Public Schools. The FSPS currently manages over $7.5 million in funds to support our schools.
Permanent Endowment Fund
Permanently restricted endowed funds are received within the stipulation that the principal be maintained and only the interest earned will be available to spend on grants. The minimum balance for all endowment funds is $10,000. Donations made to endowment funds are added to the fund’s principal.
The FSPS charges a 1.5% administrative fee (.5% administration, 1% investment) which is charged on a quarterly basis.
Permanent Scholarship Fund
Permanently restricted scholarship funds are received with the stipulation that the principal be maintained and only the interest earned will be available to spend on grants. The minimum balance for all endowment funds is $10,000. Donations made to the endowment funds are added to the fund’s principal.
The FSPS charges a 2% administrative fee (1% administration, 1% investment) which is charged on a quarterly basis.
Temporary Fund
Temporary funds are not invested and provide support for a short-term need or project in Springfield Public Schools. Restrictions are placed on the use of the fund by the donor. There is a required minimum beginning balance to start the fund.
Temporary funds require a sunset date within 5 years of the funds establishment, though this date may be revisited and changed based on the regular use of the fund. There is no administrative fee for managing temporary funds.
Interested in establishing a fund…fill out the form below or click here for the printable Fund Form.
Fund Form
