Monday’s announcement that $1 million will be flowing from the education endowment fund created by Toyota to school districts in Union, Lee and Pontotoc counties is welcome news.
Doug Formby, Toyota Mississippi vice president and a member of the educational endowment fund’s advisory committee, made the announcement at the Magnolia Civic Center.
It is the “biggest endeavor we have made to put the money in the hands of those who need it most—teachers and students,” Formby said.
Eight districts in the three counties will share the money. They will submit specific grant requests by Aug. 15, and the money from the fund should be given to the districts sometime in September. The grants are a one-year pilot project.
Based on early projections, the New Albany Schools will receive about $113,000 and the Union County Schools more than $144,000 in the pilot project. Most of the districts are expected to request money for technology upgrades.
The endowment fund committee, which works under the Create Foundation umbrella, has had a challenging time balancing the desire to create the Wellspring Center for Professional Futures with the need to show that the educational endowment is making a difference at the individual school, teacher and student level.
We think the $1 million in grants, designed to fulfill specific requests in each district, shows the committee is on the right track in balancing the competing needs for the Toyota Educational Endowment Fund money.