Philipsburg Area Education Foundation
The Philipsburg Area Education Foundation (PAEF), is a nonprofit tax-exempt charitable organization. It was founded on December 7, 1999 to expand funds available to provide educational opportunities for our citizens. PAEF has awarded thousands of dollars to students throughout area.
PAEF established an endowment fund with The Montana Community Foundation (MCF). Endowment fund donations are invested in the market utilizing services of the MCF investment pool. Only the earnings from these investments are used to implement PAEF's mission. PAEF can draw 4% of this balance one time per year to fund its mission. Funds donated to various awards, such as the Rose and Thomas Brogan Memorial Scholarship, are held in this fund to be drawn upon when a scholarship is to be awarded.
PAEF also established a general fund to accept donations from people who wanted to contribute specific dollars for specific students and projects. Some donations are one-time gifts of cash, and some are gifts of personal property to be converted to cash for awards. General fund donations are used for immediate cash outlays such as the payment of scholarships reported in the newsletters.
Our board members seek opportunities to add to our endowment fund and direct awards through donors and matching funds. Projects we fund include:
To generate and channel public and/or private resources to improve the quality of educational opportunity for the citizens of the greater Philipsburg area.