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Board reviews Mackenzie Scott donation spending criteria; chair to propose MOU revision
Summary
District and foundation officials described how the $20 million gift from MacKenzie Scott has been allocated and presented draft spending criteria; board members asked for the MOU and an executive summary of commitments and directed the chair to propose a revision to the memorandum of understanding.
Jefferson County school officials updated the board July 29 on the district's use of the unrestricted donation from philanthropist MacKenzie Scott and on draft supplemental spending criteria for the funds.
The district said the unrestricted $20 million donation was placed with the Jefferson County Public Education Foundation so the money could be invested under the foundation's investment policy. The district described two direct foundation commitments: $1 million in scholarships to be disbursed over five years and approximately $2.2 million (over three years) to Kentuckiana Works to support career academies. The district said…
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