Governed by its own board of directors, the Laguna Beach Education Endowment and Capital Fund is a separate 501(c)(3) charitable foundation that was established in 1986 for three purposes:
- To create a source of funding to be used by LBUSD to establish and maintain long-range programs that would have a major impact on our schools.
- To establish a growing source of funds to be maintained in perpetuity, from which only the income will be given to the school district.
- To ensure the longevity of SchoolPower, so it is not dependent on any one year’s annual fundraising.
Thanks to the generosity of parents, community members and businesses, and to the annual contribution of a share of SchoolPower’s annual fundraising income, the Endowment has grown to over $4 million. SchoolPower hopes to continue to grow the Endowment to create a long-term stable source of money that will help protect public schools in Laguna Beach from volatility in state funding and year-to-year fluctuations in fundraising.