Thirty-one years ago, a few forward-thinking members of our community came together to create the MBEF Endowment. Their mission was to build a permanent, sustainable and consistent source of funding for Manhattan Beach public schools. Modeled after the endowment of colleges and universities across the country, the Endowment, disburses a portion of the returns generated on an ongoing basis.
Today the Endowment stands at $15.3M and will disburse $500K, in 2017, towards current MBEF programs. This is a tremendous milestone for our schools, and the health of our community as a whole, but there is work to be done to fulfill our vision of sustainable funding. State funding for education continues to fluctuate, and school districts throughout the state are projecting deficits in one to three years, due to the state’s decision to transfer of pension costs to schools.
We hope that you will join us as we kick off our $20mm by 2020 campaign at this year’s Wine Auction. Upon reaching this goal, we will be one step closer to fulfilling the vision of “Great Schools Forever”. At $20M, our Endowment will disburse $1M to our schools every year in perpetuity.
To support the $20M by 2020 campaign or learn more about MBEF’s school funding sustainability efforts, please call us at 310-303-3342. We are seeking cornerstone donors to jump start our efforts and would love to partner with you!
To learn more about the Endowment: