March 2006: Treasurer's Report
Now in our third full year of operation, I am pleased to provide an update of your Foundation's progress.
In January, we distributed $20,000 for current programs at Roosevelt. The Foundation in its young life has now distributed a total of $45,000 to the teachers of Roosevelt so they can continue to provide the best education possible for our children.
Even after this distribution, the Foundation assets as of February 28th, 2006 were $393,357, an increase of approximately $50,000 for the year. We are gratified at the acceptance the Foundation is now achieving as contributions for the year are up over 100% from last year, coming from over five times the number of contributors compared to last year.
On the expense side of things, our commitment to you to is to run the Foundation for the lowest cost possible. We are pleased to write this is happening; for every $1 contributed, over 95 cents is going to the Foundation after costs. We are very diligent in keeping costs down and we will remain so.
However, there is so much more to be done. We envision the day where we grant $200,000 to $300,000 per year, which would REALLY make a difference. With your generous support, we can get to that goal and continue to keep Roosevelt the flagship public high school in Seattle.