Nonprofit group should be created to help fund state's school districts

Posted: Friday, February 06, 2004

I think there should be a nonprofit organization created, called the KPBPSF, for the Kenai Peninsula Borough Permanent School Fund. This would allow the people on the Kenai or companies or the state of Alaska to donate to the Kenai Peninsula Borough School Board without being in conflict with Alaska state laws. Some benefits:

1. Companies could donate and deduct the donation off their taxes.

2. People could donate to the fund and deduct it off their taxes.

3. Parents could donate their permanent fund dividend checks.

4. Children could donate their permanent fund checks, and the funds donated by the children could be held in escrow for them for their college education. When the children started college, the funds would be given to the college of their choice or a trade school. The KPBPSF would get to use the money and invest it to make more money until the child started college; at that time, the money would be returned to the child for their tuition. If the child chose not to go to college or trade school the child would forfeit the money to the KPBPSF.

5. Ten percent of the funds would go for athletic scholarships.

6. Ten percent of the funds would go for scholastic scholarships.

7. Ten percent could go for paying for field trips or going to other school activities for each school on the Kenai.

8. Fifty percent of the funds would go for investing in the stock market or commercial property to produce income for the KPBPSF. The principal would never be drawn out.

9. There should be about 10 percent for inflation proofing.

10. Each person at each school function could be charged an extra 25 cents or 50 cents or $1 to help fund the KPBPSF.

11. The state of Alaska could issue grants to help in funding the KPBPSF.

12. People could will their estates to the KPBPSF.

13. Each school district in the state could form their own permanent fund, so that the money taken in would stay in their own school district.

14. Any help, comments or suggestions will be appreciated.

Charles A. Short, Kenai

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