(Memphis) The Memphis City Schools Education Foundation has more than $18 million in the bank including funds from the Bill and Medina Gates Foundation.
Shelby County’s Education foundation is sitting with around a hundred thousand dollars.
Though MCS is dissolving into Shelby County Schools most of the money will be held in Memphis’s foundation with hundreds of thousands of their students in Shelby Schools.
“We’re looking for ways that we can better serve the community as a whole to better serve all the kids in Shelby County. We both have the same goals in mind which is to raise money for kids in the county and city,” said Chris Price, President of the Shelby County Education Foundation.
Price says both foundations are working together right now to plan and fund training events for teachers this summer, but the future is uncertain.
“There’s never a perfect formula. A lot of people are talking all around the county about how the thing is going to turn out,” said Price.
Though it’s unlikely the two districts’ foundations will merge Price says one of them could turn their focus toward community outreach instead of schools.
The Memphis City Schools Education foundation says they are getting rid of that name all together and should have a new title by next week that could possibly clarify their mission.
Memphis’ foundation says all of the $18 million in their fund right now will go to the unified schools and any future money could be funneled to another purpose.