a legacy of giving that changes the lives of future generations
what is the tartan endowment?
Our vision is that HPISD will have the financial freedom to focus on educational excellence for all students, and that the entire HPISD community understands the critical budgetary needs of the District and faithfully supports the work of the Education Foundation in raising essential funds.
The Tartan Endowment Fund is a permanent endowment that provides long-term financial stability to sustain and enhance the tradition of educational excellence in HPISD. The Tartan Endowment offers far-reaching solutions to achieve our ultimate goal of preserving the heritage of excellence of the Highland Park schools.
More than 60 percent of local, HPISD property taxes are recaptured by the state, challenging our tradition of an excellent education. Tax dollars alone are simply not enough to maintain the quality of our schools and education, and it is increasingly clear that the only way to preserve our educational standards for the present and future generations is through permanent, private funding.
INVESTMENT & SPENDING POLICY
Overseen by the Finance Committee of the Foundation's Board of Directors, the Foundation invests and manages all funds in a reasonable and prudent manner. All funds are held and administered as a permanent endowment by the Foundation where the corpus of the fund is not spent. Our spending policy complies with the requirements of Section 163.005 of the Texas Uniform Prudent Management of Institutional Funds Act and is designed to allow the funds to be invested on a total return basis to maintain, and if possible, increase the real value (as adjusted for inflation) of the funds, while at the same time providing a relatively steady and predictable level of spending from the endowment.
2020-21 Finance Committee
Marc Taubenfeld, Chair & Board Treasurer
Dallas Cothrum, Board President