Financial Highlights
Solana Beach Schools Foundation 2022-2023 Financial Highlights
Overview
Due to private funding that our schools receive from generous individual donors and businesses, all children in the Solana Beach School District (SBSD) receive an enriched, well-rounded education. In the 1970s, changes in California property tax laws cut deeply into public school funding, and the budget situation is not much better now. If not for private contributions to the Solana Beach Schools Foundation (SBSF), our students would not receive the level of education that they enjoy today. This includes; STREAM (science, technology, research, engineering, art and math), specialized art and technology instruction, and supplemental PE instruction. The SBSF also helps fund materials and supplies that provide our students with the most up-to-date learning tools.
Revenue
The Solana Beach School Foundation’s (SBSF) Annual Fund Drive kicks off each fall and funds Discovery Lab teachers, instructors and programs for the current school year. The Annual Fund Drive generates the vast majority of donations the SBSF collects and gives to the Solana Beach School District to help fund Discovery Lab educational programs. Additional sources of funding include business partner sponsorships, minor passive income, our endowment and special events, like Discovery Fest, a district-wide annual event celebrating Discovery Labs.
Expenses
Thanks to our working Board of volunteer parents and countless other school site volunteers, in 2021-22 the SBSF was able to allocate 82.7% of annual expenses directly into programs for kids. In partnership with the District, SBSF donations help provide the funding for the Solana Beach School District’s Discovery Lab STREAM teachers, as well as art, physical education and technology instructors. The SBSF also helps fund Discovery Lab supplies for hands-on science experiments, robotics, coding, art and physical education. Our administrative expense in 2021-22 was 10.4%
Financial Oversight
The SBSF pays for an annual independent financial audit. The financial audit is then reviewed by our Audit Committee and approved by the SBSF Board of Directors. We pride ourselves on our organizational integrity, financial accountability and transparency.
