St. Francis Community Foundation
The St. Francis Educational Foundation Fund has been established for the benefit of the USD 297 school district. The annual net income from the Fund will be distributed to St. Francis USD 297. Net income shall be defined as an amount that shall be computed annually based upon the current spending policy of the Community Foundation (currently 5% of the average past three year-end Fund balances). Such net income may be distributed in May or June each year, that is, toward the end of the school district’s Fiscal Year (which ends on June 30 each year). If any portion of the net income is not distributed in a particular Fiscal Year (July 1-June 30), the undistributed net income for such year shall be added to principal.
The Fund's Advisory Committee shall recommend grant distributions from the Fund that were submitted to the Advisory Committee by the USD 297 Advisory Committee and approved by the Advisory Committee for the above specified charitable purpose(s), monitor St. Francis USD 297's uses of grants distributed from the Fund and recommend to the Board of Directors of the Community Foundation such other actions as it deems appropriate under such rules of procedure as the Advisory Committee may adopt. The Community Foundation may act upon receiving and approving such written recommendation of the Chairperson of the Fund's Advisory Committee. It is understood that (i) the USD 297 Advisory Committee, which shall consist of the elected members of the St. Francis USD 297 Board of Education plus the contracted Superintendent shall initiate any and all expenditures from this fund. Any individuals that are agreeable to these terms are encouraged to donate to this fund.
St Francis Educational Foundation Fund