Policy Code: DFC

Adoption Date: Tuesday, September 26th, 2000

Review Date: Tuesday, March 24th, 2015

PUBLIC SCHOOLS FOUNDATION

The Board will establish a nonprofit corporation to be known as the Iron District Foundation, Inc. for the purpose of encouraging, receiving, and administering gifts, bequests, and endowments for school purposes.

The foundation will be operated as a tax-exempt nonprofit corporation. All funds will be managed in accordance with state law.

The investment objective of the school district foundation is to invest and reinvest the available money and securities so that over a period of time they will earn a reasonable rate of return and have a potential for growth income.