Each year the MBEF Endowment disperses a portion of its investment income to support MBEF programs. As the principal grows, so does the annual disbursement. This year the Endowment Board approved a disbursement of $1 Million, the maximum contribution allowed by the Endowment’s Disbursement Policy based on the current balance. With MBEF’s Grants to MBUSD at $5.3M this year, the Endowment disbursement now makes up 19% of the total grant – showing how important this investment mechanism is to our Manhattan Beach public schools.
Today’s MBUSD families can thank those who established the Endowment with just $10,000 in 1986, as well as those that persisted in growing it to where it stands today at over $24M. Since the Endowment first hit $10M in 2014 and the first disbursement of $116K was made, it has disbursed a total of $4.67M.
The Endowment has proven that it can serve as the stable, secure and sustainable solution for our schools today and into the future. As the Endowment principal grows in the coming years – from a prudent investment strategy and from donations from members of our community each year – we expect to see the annual disbursement increase.
Given the inadequate and unpredictable level of funding for public education in the state of California, the Endowment represents a sustainable source of funding for our schools that is more crucial than ever. To learn more on how your family can support the Endowment, please visit our Ways To Give page for details.