The MBEF Endowment Board approved a disbursement of $1.14 Million to support MBEF programs for the 2022-23 school year – the maximum contribution allowed by the Endowment’s Disbursement Policy based on the current balance. With MBEF’s Grants to MBUSD at $6.1M this year, the Endowment disbursement makes up 19% of the total grant – showing how important this investment mechanism is to sustaining the quality of our Manhattan Beach public schools. Since the Endowment was first grew to $10M in 2014 and disbursed $116K, it has disbursed a total of $5.8M.
Given the inadequate and unpredictable level of funding for public education in the state of California, the Endowment continues to be a critical source of a sustainable funding for our local public schools. As the Endowment principal grows in the coming years – from a prudent investment strategy, proceeds from the annual Manhattan Wine Auction and donations from members of our community each year – the annual disbursement increase. To learn more about how your family can support the Endowment, please visit Ways To Give for details.