Schools
Milpitas Community Educational Endowment Reaches $20K
Wells Fargo donation is a big step for nonprofit started by parents less than two years ago.
The Milpitas Community Educational Endowment received its first major donation on Friday with a check for $20,000.
"These funds will be used to help our kids in the city of Milpitas to cover [budget] shortfalls ..." said , the endowment's president and CEO, at a special gifting ceremony at the Alameda County Office of Education. (See video on right)
Representatives of Wells Fargo presented educators from 13 school districts a quarter of a million dollars Friday to fund educational programs.
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“I know that the contribution that we’re making is the right thing, and it will help many of the school districts go a long way in some of the programs that they need to support,” said Micky Randhawa, regional president of Wells Fargo's East Bay Market.
MCEE officially became a 501(c)(3) last February and had its first fundraiser this fall with a back-to-school drive. About $3,400 was collected from parents in the school district.
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As an organizer of the Milpitas Unified School District Crab Feed, the endowment will receive up to $7,500 in proceeds from the fundraiser coming up on Feb. 11 at the India Community Center.
Unlike educational foundations that collect and redistribute money to schools, the endowment's plan is to invest the money and give away only the investment gains, typically about 5 percent annually, according to Jung.
During the gifting ceremony, representatives from each school district or education foundation were presented a check. They then shared a few thoughts—some in greater detail—on how the money will impact their district.
“In Newark, we’ve actually used these funds historically to support instrumental music in the elementary and middle schools, as well as [providing] opportunities for students to go to science camp, because we have a hands-on science program,” said Kevin Harrigan, Newark Unified School District superintendent.
“And all of our students for a week go to a hands-on science program, so we’re very grateful,” he said.
The largest award went to Oakland. The $50,000 will help staff raise money for the city’s schools.
“For every dollar we get donated like this, we’re able to raise at least $5 for [Oakland] schools from other donors, foundations and elsewhere,” said Dan Quigley, Oakland Schools Foundation executive director.
But it’s not just Wells Fargo helping schools. In fact, Randhawa mentioned that those who bank with Wells Fargo can also play an important role. Every customer who refinances a mortgage with the bank can give $300 from the mortgage to a school of his or her choice.
“Can you imagine the population in Alameda County? And you see how many people refinance their mortgages?” Randhawa asked Friday’s crowd. “The [donation] number just multiplies significantly.”
All but one of the school districts or education foundations below received at least $10,000, with the Emery Ed Fund receiving $5,000.
- Alameda Education Foundation: $15,000
- Berkeley Public Education Foundation: $15,000
- Castro Valley Educational Foundation: $20,000
- Fremont Education Foundation: $40,000
- Hayward Education Foundation: $20,000
- Milpitas Community Education Endowment (MCEE): $20,000
- New Haven Schools Foundation (Union City): $10,000
- Newark Unified School District: $20,000
- Oakland Schools Foundation (OSF): $50,000
- Piedmont Educational Foundation: $10,000
- San Leandro Education Foundation: $10,000
- San Lorenzo Unified School District: $15,000
