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2008 - 2009 Report to Investors

100 East 10th Street, Suite 500 Chattanooga, TN 37402

2009 Highlights We’ve merged with the College Access Center. Thanks to Hamilton County schools, the Community Foundation of Greater Chattanooga and many local donors, we now support college advisors in every Hamilton County high school and in four middle schools; a mentoring program that allows college students to help pave the way for high school partners; Camp College, a summer program for aspiring first-generation college enrollees; and Passport Scholars, which offers a powerful summer enrichment program to low-income girls. Our new website adds an excellent Student Center with lots of guidance about enrolling in college – check it out at! Work continues on major initiatives: 2009 was a tough year for test scores, but overall trends are still moving in a positive direction. 

The percentage of Benwood 5th graders passing the state TCAP exam rose from 91% in language arts and 89% in math in 2007 to 92% in both subjects in 2009.

The percentage of middle school students scoring Advanced in math increased from 30% in 2005 to 42% in 2009, and in language arts from 30% to 40%. 8th grade student EXPLORE results (a precursor to the ACT exam) beat the national average by significant margins in every subject.

The percentage of high school students passing the Algebra I Gateway increased from 55% in 2003 to 76% in 2009, and the percentage of students scoring Advanced on the English II Gateway jumped from 50% in 2003 to 72% in 2009.

We graduated our 10th class of Leadership Fellows and welcomed the 11th. Currently, 41 principals, 45 assistant principals, and 59 teacher leaders are graduates of Leadership Fellows.

Excellent Teachers are everywhere. We launched a year-long campaign featuring 20 Excellent Teachers from Hamilton County schools, including video podcasts and monthly columns in Chattanooga Parent magazine. Take a peek at

Exciting New Projects The Public Education Foundation, in partnership with Hamilton County schools, the Chattanooga Area Chamber of Commerce and UT Chattanooga, has begun work to develop a Principal Leadership Academy. This academy will play an important role in preparing assistant principals to take over the challenges of running a school – including both the business and educational aspects of the job. It will provide training in leadership and decision-making; best practices to improve instruction; the effective use of data; personnel management and other relevant topics. TEACH/Here, a teacher residency program, is the second innovative major initiative that will begin this year. PEF has formed a unique partnership with HCDE, Knox County Schools and UT Knoxville. This initiative will increase the number of highly qualified Hamilton and Knox County math and science teachers by recruiting from the ranks of recent college graduates and business people who have strong skills in those subjects. Residents will earn both a teaching certificate and a master’s degree during a one-year program in which they serve alongside a master teacher in a classroom 4 days per week, while attending class themselves on the 5th day and during the summers. Visit the new website at

Officers & Executive Committee Jim Hill

Board Chair

Board Members Domina Coleman Alford David Breckinridge

John F. Germ

Kitty Caldwell

Roger Dickson

Michael Cranford

Board Vice Chair Board Secretary

H. Grant Law, Jr. Board Treasurer

Ruth S. Holmberg Immediate Past Chair

Mary Jo Clark Tom Kinser Candy Kruesi Robert H. Siskin

Dr. Jane W. Harbaugh Ellen Hays

For more information contact: Dan Challener President 423-265-9403 Christa Payne Director of Development 423-648-4449

Annual Support Anonymous (14) Lee and Iris Abelson Philip A. Acord Bill and Ann Aiken Jeannine Alday Ashley Aldridge Mona Allday in honor of Ruth S. Holmberg Corinne A. Allen in honor of the PEF Board and Staff Roxanne Anthony Mr. and Mrs. T. Maxfield Bahner Stephen L. Ball Sandra Barnwell Mark and Penny Bean Rowena Lee Belcher Monique Berke Claire S. Binder Joy Black Vernon and Sandra Blankenship Tena Boehm Lee Boles David and Tracy Breckinridge Fletcher Bright David and Judy Britain Frank A. Brock Mr. and Mrs. Charlie Brock Mr. and Mrs. Frank Kruesi Brock Paul, SuSu and Casey Brock Regina Brock Paula and Grady Burgner Hacker and Kitty Caldwell Mr. Robert H. Caldwell Tom Caldwell Mr. L. Hardwick Caldwell, Jr. Fred and Nanette Carr Lakesha Carson Doreen “Callie” Casey Jim and Rhonda Catanzaro The Dan Challener Family Chandra and Chitra Chandrasekaran Mary Jo Clark Griffith X. Clarke in memory of Barbara McKenzie Herb and Sue Cohn Michele H. Collins Kathleen Conner Linda and Pete Cooper Robin Copp Senator and Mrs. Robert P. Corker Michael Cranford Tina and Sam Currin Custom Custodial, Inc. Joseph H. Davenport Gary and Anne Davis John and Virginia Davis Karen Day Mr. Joseph F. Decosimo in honor of Christa Payne Rose Decosimo

Cindy Dees Sally and Arthur Dickerson Roger and Pam Dickson Marsha Jackson Drake Tom Dubose Mary Duffy Mr. and Mrs. Larry Duncan James and Brenda Eason Wally and Shannon Edmondson David Eichenthal and Bea Lurie Ray Evans Mrs. Norma Faerber Mrs. and Mrs. Thomas W. Faulkner Anetta Ferguson John Foy John and Judy Germ GoodSearch Brad Goodson Saunya Goss Paula Gossett Elizabeth Graham in honor of Fletcher Bright Philip and Leslie Graitcer Eddie and Katrina Gravitte Ursula Greene Dr. and Mrs. Mike Greer Tom and Marion Griscom Frances Haman-Prewitt Hamilton County Principals Association in memory of Sandra Jerardi’s mother Jane Harbaugh Elaine Harper Mr. Shane Harwood and Family Ellen M. Hays Judy A. Heacker Jim and Elaine Hill Susan Hixson Christine Hockert Ruth S. Holmberg The Rev’d. Hunter and Prestine Huckabay Lisa Huskey Phil and Audra Iannarone Deanne and Nelson Irvine Billie L. Jenno Sandra Jerardi Inga Johannesen Mr. and Mrs. S.K. Johnston, Jr. Mrs. Robert C. Jones, III (Peggy) in honor of Alice & Jack Lupton Wendy A. Jung George and Ismahen Kangles Jamelie Kangles Bill and Susan Kennedy Tom Kinser Riki and David Kissick Kristin Knight Carrie and Gary Kuehn Mary-Margaret Lane Carol W. Langston M.J. and Howard Levine Lu Lewis Lori Link

Cartter Lupton Joni Martin John Maynard and Rhea Thurman Allison McAvoy Allen and Alice McCallie Mr. and Mrs. Spencer McCallie, III Brad McCormick Lee and Connie McDade Toni and Jack McGauley Jeanie and Mike McKenna Debbie McMahan Lee Ann Mills Sharon Mills Mr. and Mrs. Olan Mills, II Cannon and Rick Montague Mr. and Mrs. Carrington Montague Patrick and Robbie Moore in honor of Shannon & Wally Edmondson The Reverend Mary N. Moore Gail Morgan OJ and Anne Barron Morgan Jack Murrah AnnaLouise H. Myers Paul Neely Maury and Jennifer Nicely Dr. and Mrs. N.R. Nichols, III Bill and Kathy Noseworthy Ruth and Fred Obear Neelie Parker Christa and Bill Payne Faye Pharr John and Mufti Phillips Lucile S. Phillips Jack and Sherry Pollock Merv and Helen Pregulman Scott L. Probasco, Jr. Allison Roberts Steven and Cindy Robinson Amy M. Rogers Rick and Suzanne Rushworth Clara Sale-Davis Henry and Rachel Schulson Lisa and Gregg Shander Robert and Leslie Sharpe Uneva and Charles Shaw Robert and Pris Siskin George and Leigh Skonberg Alice L. Smith Garnett A. Smith Helen and Stanley Smith Margaret and Stephen Smith Dr. Joanie Sompayrac Jennifer Spates Jim and Marian Steffner Christian Stegall John Stewart Judith F. Stone Susan Street Robert J. Sudderth, Jr. Elaine Swafford Susan G. Swanson Ray Swoffard

Otto Taylor, Jr. Marie Thatcher Judge W. Neil and Anne A. Thomas Herbert A. Thornbury Tom and Nancy Tolar Jean Trohanis Edna Varner Debra Vaughan Charlotte and John Vlasis Mike and Amy Walden Patsi and Kirk Walker Samantha Walter H. Robert Walter, III Bill Warren Sharon S. Watts Harvey Weiss Sue Anne Wells Ruth G. White Dr. Marilyn Willis Pam Womack Rodney and Carol Woods Ann and John Woody Andrea Ziegler

Foundations Annenberg Foundation Benwood Foundation Community Foundation of Greater Chattanooga Gordon Street Foundation Lumina Foundation for Education Lyndhurst Foundation McKenzie Charitable Foundation NEA Foundation Sulzberger Foundation Tucker Foundation

Leadership Book Clubs Anonymous

Leadership Initiative First Tennessee Foundation Ann Kilcher

Principal Leadership Academy Anonymous BlueCross BlueShield of Tennessee Health Foundation Electric Motor Sales & Supply, Inc. Joseph H. Davenport Unum


Financials Revenue received for 2008-2009 operations: Grants

Annenberg Foundation Benwood Foundation Community Foundation of Greater Chattanooga Lumina Foundation for Education Lyndhurst Foundation Lyndhurst Foundation (Princeton Review) NEA Foundation Tennessee Higher Education Commission Subtotal Contributions Other Support Appropriation of Endowment Assets for Operations Funds Available from Prior Year*



Benwood Initiative High Schools for a New Society Middle Schools for a New Society College Access & Success Leadership Initiative Management & General Expenses Communications & Development Teacher Residency Osborne Fellows Program Various Other Programs

$500,000.00 1,877,100.00 100,200.00 35,000.00 1,500,000.00 125,092.00 515,000.00 37,790.00 4,690,182.00 227,953.00 583,126.00 283,143.00


$1,774,598.00 526,030.00 1,887,081.00 307,874.00 334,761.00 357,062.00 281,836.00 123,463.00 18,576.00 173,123.00


Endowment Account Balance 7/1/08 Transfer to Endowment Operating Account Net Earnings Endowment Account Balance 6/30/09

$11,862,274.00 $(583,126.00) $(2,427,728.00) $8,851,420.00


Long Term Endowment:

FINANCIAL SUMMARY July 1, 2008 to June 30, 2009

Osborne   Fellows  Program   1%  

received for 2008-2009 operations:

nnenberg Foundation Various Other  Programs   enwood Foundaton ommunity Foundation of Greater Chattanooga 3%   umina Foundation for Education yndhurst Foundation Teacher   esidency   yndhurst Foundation (PrincetonR Review) EA Foundation 2%   ennessee Higher Education Commission Subtotal

$ $ $ $ $ $ $ $ $

500,000.00 1,877,100.00 100,200.00 35,000.00 1,500,000.00 125,092.00 515,000.00 37,790.00 4,690,182.00






Communica8ons &   Development   5%  

ther Support ppropriation of Endowment Assets for Operations unds available from Prior Year*


College ccess   $ A283,143.00 &  Success   $ 5,784,404.00 5%  

High Schools  for   a  New  Society   9%  

Middle Schools  for   a  New  Society   33%  


enwood Initiative gh Schools for a New Society iddle Schools for a New Society ollege Access & Success eadership Initiative anagement & General Expenses ommunications & Development eacher Residency sborne Fellows Program arious Other Programs

Leadership Ini8a8ve   $ 1,774,598.00 $ 526,030.00 6%   $ 1,887,081.00 $ $

307,874.00 334,761.00




m Endowment: dowment Account Balance 7/1/08 ansfer to Endowment Operating Account t Earnings dowment Account Balance 6/30/09

$ 11,862,274.00 $ (583,126.00) $ (2,427,728.00) $ 8,851,420.00

357,062.00 &  M$ anagement   $ 281,836.00 General   Expenses   $ 123,463.00 $ 18,576.00 6%   $ 173,123.00

Middle Schools for a New Society Benwood Initiative Management & General Expenses Leadership Initiative College Access & Success Communications & Development Teacher Residency Various Other Programs Benwood Ini8a8ve   Osborne Fellows Program 31%   High Schools for a New Society

ancial Statements Prepared by Barto, Hoss & Company, P.C. rom the Operating Account, carried over grant money

Audited Financial Statements prepared by Barto, Hoss & Company, P.C. *Earnings from the Operating Account, carried over grant money

$ $ $ $ $ $ $ $ $ $

1,887,081.00 1,774,598.00 357,062.00 334,761.00 307,874.00 281,836.00 123,463.00 173,123.00 18,576.00 526,030.00

2008-09 PEF Report to Investors

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