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Sponsor: substitute Senate Bill 309 clarifies use of community foundations for school endowments
Senate Finance Committee · December 10, 2024
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Summary
Senator Wilson said substitute SB 309 would allow K'12 schools to appoint community foundations as trustees for endowments and educational foundation funds to ease bookkeeping and support local giving; the committee agreed to work from the substitute (amendment 2778-1).
Senator Wilson presented sponsor testimony on substitute Senate Bill 309, which would clarify Ohio law to allow K'12 schools to appoint community foundations and other 501(c)(3) organizations to serve as trustees for endowments and to invest in…
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