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How are Board members selected and for how long do they serve?
WPSF Board members are appointed they Wahoo Public Schools Board of Education and serve three-year terms. They may be re-appointed when members are willing to continue their service on the WPSF Board.
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I thought my tax dollars support the school, why do we need a Foundation?
One of the main purposes of the Foundation is to provide scholarship support for its graduating seniors. Tax dollars do not provide this and is supported by the Foundation through generous gifts from its donors. Additional support for the school in programs and faculty support is provided when tax funding is not available, or not traditionally appropriate for those purposes.
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How are Foundation assets managed or invested?
The Foundation maintains 46 “sub-funds,” each for its individual purpose. It manages 12 investeed Funds, which are invested in market securities and managed by an outside investment manager, currently Union Bank & Trust Investment Services. The Foundation also maintains a cash account for liquidity purposes and is kept at Wahoo State Bank.
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How are scholarship awards decided?
The Foundation informs the Wahoo High School Guidance Office of the availability of scholarship money and the criteria for their individual selection. The school’s Scholarship Committee then meets annually to make the selections.
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Can donor’s select the recipient of their scholarship?
By IRS guidelines, this is not permitted, however, provided there is a pool of qualified candidates from which to select, donor’s may be a member of the committee and have a vote on their scholarship award.
