BOSTON PUBLIC SCHOOLS The Boston Educational Development Foundation, Inc. Boston School Committee December 3, 2014 1
BOSTON PUBLIC SCHOOLS Background & Overview 2
BOSTON PUBLIC SCHOOLS Established: The Boston Educational Development Foundation, Inc. (BEDF) is a 501(c)(3) incorporated in 1984. Purpose Statement: BEDF is organized for the purpose of improving educational opportunities for the students of the Boston Public Schools (BPS) by developing and providing for innovative educational and staff development programs; by assisting and facilitating management operations; by providing incentives and scholarships for students; and by serving the general needs of BPS in furtherance of the educational aims and goals of BPS. * Snapshots: Annual revenues and annual expenses range between $9M-$12M ** 278 Unique Donations in FY14 Total Active Accounts: 800 BEDF nationally ranked 11 th of top 25 US Public Schools Education Foundations and ranked 3 rd for Total Revenue per student ($190.14 per student).*** * BEDF Articles of Incorporation ** BEDF Financial Audits from 2010-2014 *** Stepping Up: The Top Public Education Foundations in the Nation, Dewey & Associates, 2014 3
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Similar to Other Large Urban Public School Foundations Mission: The Chicago Public Schools’ (CPS) Children's First Fund (CFF) mission is to support CPS’ ultimate goal of ensuring that every child in every school is on track to graduate prepared for success in postsecondary education and employment. CFF acts as a fiscal agent for foundation and business grants and individual donations to CPS schools and administrative units to fund programs that supplement educational opportunities. Chicago: 404,000 Students Amount Raised: $5.5M in 2013 Mission: Dedicated to improving New York City’s public schools by attracting private investment in the school system and encouraging greater involvement by all New Yorkers in the education of our children. Amount Raised: $28M in 2014 New York: 1.1 M Students Mission: Builds innovative partnerships to create solutions that will improve educational, health and wellness outcomes for students in LA. Through collaboration and creativity with the Lost Angeles Unified Public Schools, The LA Fund inspires action and achieves impact Amount Raised: $1.3M in 2013 Los Angeles: 650,000 Students 4 4
BOSTON PUBLIC SCHOOLS The Foundation’s $14.1 M in Assets by Portfolio Categories Academics BEDF Portfolio as of 11.17.14 0% Portfolio Category $ % of total Schools 2% 0% 11% Academics 3,216,193 23% StudentSupport 2% 23% Schools 2,614,558 18% Operations Student Support 2,549,025 18% BEDF Portfolio 3% BEDF as of 11/17/14 Operations 1,196,775 8% 3% HumanCapital BEDF 800,519 6% Engagement 5% Human Capital 734,357 5% Superintendent Engagement 474,750 3% 6% Data Superintendent 445,258 3% 19% Technology Research & Data 275,767 2% 8% SpedServices Technology 236,969 2% Special Education ELL Services 42,692 0% English Language 18% Other Learners 10,811 0% Other 1,555,373 11% Total 14,153,047 100% Notes : Funds labeled in the BEDF Portfolio graph represent 89% of The Foundation’s assets. The “ Other ” Portfolio category represents the remaining sum of all accounts with a balance lower than $6k $800K in BEDF Portfolio represent accrued investment interest since 1984; these unrestricted funds support the BEDF operating budget and these funds totaled $1.1M in FY2010. 5
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Top 10 Funders (FY14) FY '14- BEDF Top funders $170 Friends of the Rafael Hernandez School $178 Partners Health Care System $189 BPE $193 Wentworth Institute of Technology $213 Play Ball Foundation Fidelity Investments $361 The Boston Foundation $422 Boston Childrens Hospital $567 Barr Foundation $585 EdVestors, Inc. $685 $- $100 $200 $300 $400 $500 $600 $700 Thousands 6
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Top 5 Funders (FY12 -FY14) $2,500 Thousands FY12-14 Top funders comparison 585 $2,000 685 2012 2013 2014 $1,500 1,092 567 857 422 $1,000 178 410 470 332 $500 806 710 488 424 393 $- Barr Foundation EdVestors, Inc Boston The Boston Partners Health Childrens Foundation Care System Hospital 7
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Helps Eliminate Opportunity and Achievement Gaps in BPS Over 40 different The design and before and implementation of afterschool an integrated, programs multi-disciplinary, operate and research- throughout BPS. based curriculum for all BPS K2 classrooms . Positively Let’s Move in Impacts the BPS seeks to 15,850 students provide all attending the 57,000 BPS 32 BPS schools students with implementing daily physical Comprehensive activity and Behavioral weekly Health Model. physical education. 8
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Helps Engage Families in Learning Opportunities & Programs Provides a wide- variety of school- Since its inception, 5,000 families have been based and served and 7,000 students have been partner operated impacted by Parent University. adult education programs . Countdown to Kindergarten engages families and welcomes over 12,000 4 and 5 year olds in the city of Boston 9
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Collaborates with Partners to Support Public-Private Initiatives Since 2009, through the BPS Arts Expansion Initiative: Since 1995, the Boston Schoolyard The % of BPS pre-K through 8th grade • Initiative has transformed 88 schoolyards students receiving weekly, year-long arts into centers of play, learning and instruction increased by nearly 20% to community. total 87% in 2013-2014. 30,000 school children reached • The % of BPS high school students • 130 acres of asphalt reclaimed • receiving any arts instruction more than doubled to total 57% in 2013-2014. Principals report that BSI schoolyards lead to increased physical activity More than 14,000 additional elementary, • (100%); improved student behavior middle, and high school students have (63.2%) and improved relationships with opportunities to experience the arts parents and community (73.7%). during the school day 10
BOSTON PUBLIC SCHOOLS Reforms & Improvements 11
BOSTON PUBLIC SCHOOLS Created a New Organizational Structure Board of Directors Nelson Flores, President As per BEDF Essence McGill-Arzu, Clerk Bylaws, the BPS Treasurer, Recently Vacant Superintendent or Klare Shaw, Member designee is a John McDonough, Interim BPS Supt. required member of the Board of Directors Assumed Acting Executive Director, Responsibility in Jonathan Sproul January, 2014 Director of Finance and Administration, Hired August 2014 Felipe Herrera Finance and Administration Hired April 2014 Associate, Ashidah Baker 12
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Developed a Sustainable Operating Budget FY 2015 Approved Operating Budget Revenue On June 2014, the Board established an Investment Income 50,000 indirect rate of 2% on all grants, Indirect Rate (2%) 162,140 donations, sponsorships and contributions (except for parent fees Total Revenue 212,140 and scholarships) to sustain operations. Support Services Audit and Accounting 25,000 Staff Salary & Benefits 142,000 Office Expenses 10,000 BEDF Operating budget Marketing & fundraising 15,000 Insurances & liabilities 20,000 Total Support Services 212,000 This balanced budget reverses a Net Excess of Revenues multi-year long trend of BEDF 140 operating at deficit due to over Expenses investment income decline. 13
BOSTON PUBLIC SCHOOLS Transferred Public Funds from BEDF to City of Boston Accounts 14
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Established Accountable and Transparent Financial Systems Internal Checks External Balances Quarterly Financial Comply with all FOIA Reports to Board of Requests Directors All Financial No-Risk Investment Statements Strategy Published Publically Annual Audit by Fully Insured Assets & Certified Public Investments Accounting Firm Monthly Bank Dual Signatures on Reconciliations by checks above $5K Accounting Firm 15
BOSTON PUBLIC SCHOOLS BOSTON PUBLIC SCHOOLS Implemented Comprehensive Organizational Improvements • Passed 2% Indirect Policy to sustain operations • Reduced Accounts Payable and Accounts Receivable Operations processing time to a 5-7 business day turnaround time • Implemented new payment forms and payroll procedures • Revised bylaws to transition Board of Directors to a controlling majority of non-BPS employees Governance • Recruited new Board of Directors • Purchased Board of Directors Insurance • Hired a permanent Director of Finance and Administration and appointed Acting Executive Director Administrative • Created employee benefits package and BEDF conditions of employment • Purchased General Liability Insurance • Created new BEDF Logo Marketing & • Developed and launched new BEDF website and marketing materials Communications • Created and distributed The BEDF Bulletin Newsletter 16
BOSTON PUBLIC SCHOOLS Next Steps 17
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