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Central Lyon CSD

Foundation

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Frequently Asked Questions

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What is the Central Lyon School Foundation, Inc.?
The Foundation, which was established in 2001, is a not-for-profit corporation dedicated to the enhancement of quality education through educational opportunities, school facilities, technology, and service, on behalf of the Central Lyon Community School district. All contributions to the Foundation are tax deductible under Section 501 of the Internal Revenue Code. The Foundation operates independently of the school district and is governed by a board of nine directors.
What are the financial goals of the Foundation?
The Board of Directors has established a flexibility policy whereby income received by the Foundation is split more or less equally between distributions given in support of current needs, and establishment of a permanent Endowment Fund. It is the intention of the current Foundation Board of Directors to follow this policy; however, future Boards of Directors are free to adjust this policy as needed to meet School District needs.

The Foundation has established a goal for the Endowment Fund of $500,000. While this figure represents an aggressive goal, the current Board of Directors believes that this figure can be achieved, while at the same time supporting current needs of the School District.
What is the relationship between the Foundation and the School District?
The foundation operates independently of the School District. The Foundation is governed by a Board of Directors consisting of nine individuals. The Foundation seeks input from School District administration, staff, and the governing Board in making distributions of funds, to ensure compatibility with School District objectives. 
What activities does the Foundation currently fund?
The Foundation directly supports, in the form of current distributions, three types of projects; infrastructure, district, educational needs; and small grants (Lion Grants) to teachers for special projects. This past year, distributions were made to Central Lyon to assist in an extensive project to purchase Smart Boards for classrooms and to provide Lion Grants for special projects.
What is the relationship between the Foundation and the Central Lyon Dollars for Scholars Chapter?
The Central Lyon Dollars for Scholars Chapter was started by the Foundation in the spring of 2004. The Foundation Board administers the Dollars for Scholars Program. All Scholarships administered through the Foundation will be awarded through Dollars for Scholars Chapter. Funds awarded through the Dollars for Scholars Chapter provide additional financial benefits for the scholarship recipients in that many post-secondary institutions agree not to reduce institution aid to students receiving sponsored awards through a Dollars for Scholars for Scholars Chapter. Also, many schools agree to match the sponsored award if given through a Dollars for Scholars Chapter.