The MBEF Endowment Board approved a disbursement of $1.2 Million to support MBEF programs for the 2024-25 school year – the maximum contribution allowed by the Endowment’s Disbursement Policy based on the current balance. With MBEF’s Grants to MBUSD at $7.4M this year, the Endowment disbursement makes up 16% of the total grant – showing how important this investment mechanism is to sustaining the quality of our Manhattan Beach public schools. Since the Endowment first grew to $10M in 2014 and disbursed $116K, it has disbursed a total of $8.1M.
As a myriad of challenges continue to face public education in our state, 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 increases. To learn more about how your family can support the Endowment, please visit Ways To Give for details.
