We are committed to ensuring that our operating and administrative costs remain low so that donations go where they are needed most - to the education of our students. That is why we have NO PAID STAFF and are entirely comprised of volunteers. As a fiscal sponsorship fund under the non-profit umbrella of the Renton Community Foundation (RCF), approximately 3 percent of the contributions received go to RCF for all bookkeeping, tax reporting, and investment management. Other costs associated with event production, marketing, insurance, website maintenance, and general supplies and materials are kept low and we endeavor to obtain event sponsors and in-kind donations for as many of our needs as possible.
We are a Fiscal Sponsorship Fund under the umbrella of The Renton Community Foundation (RCF), a charitable not-for-profit 501(c)(3) organization. RCF is comprised of groups of charitable funds established by individual donors and local non-profit organizations, benefiting a variety of causes, including healthcare, the arts, education, youth and families, even senior emergency pet care. Today, RCF serves the greater Renton area and beyond with almost $4 million and over 40 individual funds. Partnering with RCF allowed us to get up and running quickly without having to go through the process of setting up a 501(c)(3) . More important, however, RCF provides us with expertise in financial management and fundraising guidance. Because RCF is ultimately liable for the Friends of Renton Schools fund and the actions of the fund's Committee members, RCF reviews all fundraising proposals and disbursements to the Renton School District to ensure that their legal and fiduciary responsibilities as a 501(c)(3) are met.
All funds donated to Friends of Renton Schools are held in accounts with the Renton Community Foundation. RCF invests in an ever-increasing pool of assets in a way that will maximize return while moderating risk. An investment committee made up of Foundation trustees and community leaders guides the Foundation's investment strategies, making recommendations to the board on policy, strategy and management. RCF purposely invests in a balanced portfolio (60% equity, 35% fixed income & 5% cash), giving their funds some insulation from market fluctuation. Investments are made by professional money managers (currently the Harris Private Bank in Seattle) to ensure superior performance and adequate diversification.
For more information about the Renton Community Foundation, go to www.rentonfoundation.org.