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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 approximately $600,000 per year (distributed semesterly) supports "choice zone" schools for engagement, environment and experiences; additionally, the district distributes a $25,000 allotment to each school each year from the supplemental funds for culture and climate purposes.
District staff presented a supplemental spending criteria document that states funds should be allocated for uses that promote student achievement, including direct student supports, employee allocations that benefit students directly, and districtwide activities with direct student benefit. Presenters said that of roughly $3.2 million in supplemental spending discussed at the meeting, about $3 million had gone directly to schools or students; the remainder supported culture and climate costs.
Board members pressed for clarity on several points: the current cash position and the fund's ongoing viability; whether the foundation retained a material portion of the gift in an endowment and how long the foundation intends to maintain invested funds; who developed the spending criteria; and whether the board would have oversight of the criteria. CFO remarks at the meeting indicated there are funds still invested at the foundation and that current available amounts exceed $15 million, but the presenters also said many commitments have been or will be drawn down over a short period (roughly 2½ years under current plans).
In response to board requests, the board asked staff to provide an executive summary of commitments and the MOU between the district and the foundation for board review. A later motion asked the chair to bring a proposed revision to the MOU to the consent agenda for the board's next full meeting; the board approved that motion.
No dollar figure was approved or changed at the meeting; board members said they wanted clearer documentation of planned commitments and clearer governance language governing future spending.
