What is PRIDE?

PRIDE is an educational foundation that provides an avenue for individuals, businesses, and corporations to donate funds to benefit education here in the Princeville community.

The mission of PRIDE is to enhance the educational process for Princeville students. This is done by acquiring, investing, and distributing resources for programs and projects which would otherwise not be available to the youth of Princeville.

How does an Endowment Work?

An endowment is like "the gift that keeps on giving". Endowment contributions received are not spent, but invested. An endowment provides a permanent source of money to fund programs, projects or materials not afforded by the normal tax base. Since the endowment is intended to always be there as an alternative source of funding, only the income earned can be spent. The principal must remain unspent.

Contributions to PRIDE can be designated two different ways:

"Restricted" or "Unrestricted."

Restricted contributions are given by a donor for a specific purpose. For example, a contributor might designate a donation as "restricted" to the purchase of supplies for a particular art project.

Unrestricted donations are donations to the endowment. Those contributions are added to the general fund and cannot be spent, but rather must be invested.

Donations to PRIDE can be cash or in kind, such as grain, stocks, land, or property. Donations can also be memorials.

Why do we need PRIDE?

Schools in the state of Illinois get funding from three primary sources:

Local Real Estate Taxes General State Aid and Federal Aid

Generally speaking, the dollars given to schools from real eastate taxes and federal aid is fairly predictable and consistent. But, those monies make up less than half of a school's funding needs!

The rest of the funds come from the State of Illinois. However, general state aid is very unpredictable and unstable. Sometimes schools have no idea how much money they are getting from the state or when they are going to get it.

In recent years, much state funding has been cut. Consequently, many Illinois schools are deficit spending. In addition, Princeville's share of federal aid is very minimal due to the small number of low income students in the district.

A strong endowment makes Princeville schools more attractive to families moving into the Peoria area. As a community, we take pride in knowing that educational opportunities for our children are not being shortchanged for lack of funding. Due to the ever increasing demand on conventional resources, the continued success of Princeville schools depends on the utilization of a varied resources such as PRIDE.

How Does the Money Get into the Classrooms?

Each year, teachers fill out grant applications for educational programs and projects they would like funded. The PRIDE grant committee reviews the applications, meets with the Superintendent and Principals, and decides which grants can be funded with PRIDE money.

When applications exceed the availablity of funds, the PRIDE board then seeks other avenues (restricted funds) to cover any remaining grant requests.

PRIDE sponsored the 2005-2006 Classroom Wish List Program that infused over $19,000.00 worth of educational supplies and materials into Princeville schools.

Check out some of the past PRIDE grant recipients.

The History of the Endowment

HISTORY

PRIDE was formed in 1995 when the local school board recognized the potential in developing an educational foundation. Several members of the community volunteered as the founding mebers later that year.

Past and Present PRIDE Board Members

ORIGINAL FUNDRAISING GOALS OF PRIDE

The original goal was to establish an endowment that would earn enough income to provide $25 per student per year of funding. At that time, with a student population of approximately 700, this amounted to a goal of annual earnings of $17,500. It was calculated that at a low-risk interest rate of 5%, a principal of $350,000 would be needed. The original board members of Pride set a goal to have an endowment worth $350,000 in place by the year 2000.

For the first three years, all donations and interest earnings were put back into the endowment. Money was raised through personal contacts, public meetings, and via a mail campaign targeting alumni and school district addresses. The money was mainly invested in certificates of deposit.

Although the endowment has been a tremendous accomplishment, PRIDE hasn't reached its original goal. In 2007 total assets in the endowment totaled $207,982.

How Can YOU Give Back to YOUR School?

Donations can be mailed to:

PRIDE

( Princeville Resource Improvement and Development Endowment)

P.O. Box 401

Princeville IL 61559

or you can contact PRIDE at:

pride@princeville326.org

for further information.

PRIDE APPLE of FAME

Attention, Princeville Alumni!

PRIDE, Princeville's Educational Foundation, is searching for class reunion contacts who might have the names and addresses of a Princeville High School graduating class.

If you have information concerning your graduating class, please contact the District Office or e-mail

pride@princeville326.org

“ This community's greatest asset is its young people. The best investment any of us can make is an investment in their future and their education ."

- Ann Cordis (retired PGS teacher)

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