Thomas W. Payzant, Board Chairman

Michael Contompasis, President
John McDonough, Treasurer

Edward Dooley, Clerk
Charlotte Harris, Director

INTRODUCTION TO BEDF

BEDF is the School Department’s non-profit foundation. BEDF was founded in 1984 by the Superintendent and School Committee so that the School Department and individual schools and offices could raise money from private sources – foundations, corporations, and individuals. The Superintendent and designated members of the School Committee and senior staff comprise BEDF’s Board of Directors.

BEDF is a 501(c)(3) tax exempt organization. Our federal and state identification tax exempt number is 222-514-422.

Any member of the BPS family – administrators, teachers, parent groups, community groups working with a BPS school – are welcome to use BEDF. No advance permission is required.

BEDF’s function is to provide 1.) tax exemption and fiscal reporting for donors; and 2.) a fiscal agent for BPS schools’ and offices’ private grants. Boston’s Public Schools are not allowed to receive and account for grants through an activity or bank account. Schools must account for their grants either through the City Treasurer or BEDF. BEDF provides a full banking, bookkeeping and accounting and fiscal reporting service.

BEDF charges no management fee. BEDF does, however, keep the interest on funds deposited with BEDF, and uses the interest to pay our bookkeepers and our CPA, and other office costs.

Funds held in BEDF accounts are strictly segregated accounts. Each account has a name and number and only one person who can authorize expenditures from the account. The authorized individual is designated by the Headmaster, Principal or Office Administrator who was responsible for raising the money, and is usually the Headmaster, Principal or Office Administrator himself or herself. BPS can’t touch money managed by BEDF.

BEDF has few rules, but does require prudent management and annual reporting. The following rules were adopted by BEDF’s Board of Directors on April 8, 1986.

Program Parameters	BEDF will manage private funds and small public grants that involve no salary/benefits
Program Qualifications & Reporting	Programs must further School Committee goals Programs may not contradict School Committee policies Funds will not be accepted from Tobacco Companies or others specifically precluded by the School Committee Programs managers must provide BEDF annually with a report about program results including goals, accomplishments and number of students, parents, and teachers participating, using designated forms.
Fiduciary Responsibility of Individual account managers	Managers of individual accounts held by BEDF will follow these guidelines using designated forms To establish an account, sign a guidelines document that will include a conflict of interest statement. Maintain manual records of all expenditures including an inventory of equipment, available on request. When funding ends, equipment and other goods purchased with grant funds belongs to the school.

We hope you have occasion to use the BEDF. If you need information about how to raise money for your school or office, please don’t hesitate to call, or if you have any questions about who we are and how we operate, please call.

Best wishes with your fundraising.