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ASTEC Fund, Inc. Overview

Posted on May 9, 2013

As part of its recent, forward-thinking strategic plan, ASTEC has established a separate 501(c)(3) charitable foundation (“ASTEC Fund, Inc.”) to help the organization grow and build its financial capacity.  

In the not-too-distant future, ASTEC plans to establish an elementary school that complements its current middle and high schools, and eventually build its own K-12 campus. ASTEC Fund, Inc. will help ASTEC realize this long-term vision. ASTEC Fund, Inc. will also have responsibility for all short- and long-term financial investments and any real estate holdings that benefit ASTEC Charter Schools.
 
ASTEC Fund, Inc. operates as a “support” organization, meaning that it exists solely to benefit ASTEC. The Fund is governed by a volunteer Board of Directors, who elect the following Officers:  Board Chair, Board Vice-Chair, Board Secretary, Board Treasurer and Director-at-Large.  In addition, the Chair of the ASTEC Board, its CEO and COO serve as Directors by virtue of the positions they hold to ensure continuity in communication between the two entities. ASTEC teachers and staff work diligently each day to make sure our students have the latest in technology and other school needs so that our children are empowered, motivated and inspired to reach their goals. 
 
Unfortunately, due to the rising costs of providing cutting-edge curriculum and supplies to our students, and expert professional development for our teachers, we must supplement the funds we receive. As a public charter school, ASTEC receives less money per pupil than traditional high schools. We must provide and pay for upkeep on our own facilities, and we aren’t provided bonding like traditional schools. It is because of these facts, and a strong belief in the mission of ASTEC, that our Board and other community leaders created the ASTEC Fund. The support gained by the Fund solely supports the activities of the school. Our first major undertaking is more than a decade in creation. Our students deserve their own facilities, where they can be outside, have room for the expanding technology needs, and become a model community school. Very soon, we will begin a capital campaign to build our own facility located within a mile of our current location.  Please click here to learn more about this plan.