Statement of Purpose

The Foundation is established to facilitate the educational experiences of Cumberland County students both from an educational and personal standpoint. The first priority is to reimburse teachers or volunteers for expenses they incur to help their students both in the classroom and in extracurricular activities. As the income to be dispersed grows, this may include stipends to teachers in extracurricular activities. Expenses may include transportation and supplies. The second priority is to help parents pay for supplies such as art supplies, uniforms, band instruments or transportation to extracurricular activities. The fund will invest their funds in assets that are to earn dividends or returns on investments such as stocks, bonds, or well-secured loans. The monies earned on these investments are to be distributed on a annual or semiannual basis. The principle is to remain intact. As the principle grows, it is expected that the earned income will also grow. The distribution will be decided by the board on the basis of the recommendation given to the board by a committee established by the Cumberland County School superintendent. In the initial year of 2015, a special distribution of $5,000 will be made for the fall semester. After that initial distribution, the amount to be distributed will be approximately, but not to exceed, the earned income of the fund.

-Robert Wood

December 18, 2014