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Annual Report Special Edition 2004 Mystic Valley Regional Charter School of Malden, MA the first visitation site in the new Core Knowledge program, has recorded some impressive improvement in the Iowa Test of Basic Skills. A study of the scores from Fall of 1998 to Fall of 2003 shows that after the third grade, (and in some cases before then) scores in vocabulary, reading, language and math were consistently at least a year above grade level and in many cases two years or more. Congratulations to Mystic Valley . They have been one of the most faithful supporters of Core Knowledge, attending many, many conferences and professional development workshops. All that hard work has paid off for their students. |
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| COMMON KNOWLEDGE™ |
The
Newsletter of the Core Knowledge® Foundation |
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Financial Status The Core Knowledge Endowment Fund was established in 1995 through the generous donation of royalties generated by the sale of E. D. Hirsch's Grader Series published by Doubleday Books, now part of the Bertelsmann Publishing Group. E.D. Hirsch receives no monetary compensation for his work as Founder and Chairman of the Board of Trustees. During 2003, the Core Knowledge Foundation contracted with an experienced financial management professional, John P. Lindermuth to ensure that the management of Foundation finances is consistent with its strategic goals and objectives. Monthly financial data was reviewed and analyzed, and, with departmental participation, in-depth analysis was conducted quarterly. Also, a long term financial strategy was formulated and implemented to ensure the long term financial viability of the Foundation. Finally, a structured planning process was implemented for 2004, resulting in both an Operating Budget (what the Foundation earns and buys) and a Performance Budget (how the dollars relate to strategic goals and objectives). These steps provide a solid, integrated financial management architecture for the future. The Core Knowledge Foundation's financial position remains stable. Total Net Assets at the end of 2003 were approximately $4,600,000, an increase of approximately $4,000 over 2002. The Unrestricted Asset Balance (Operating Funds and the Foundation Endowment) increased by over $136,000 to almost $4,000,000. The Restricted Asset Balance (Grant Funds) decreased by approximately $132,000 to approximately $600,000, but this is consistent with the varying allocation cycles for grants. In 2003 total Core Knowledge expense activity, including grant expenses, exceeded $4,700,000. Cash Flows remain stable and sufficient to meet the day-to-day needs of the Foundation. Bridging the Knowledge Gap/ Highlights for 2003/ A Message from The President/ Building Bridges to Schools/ Building Bridges with Words/ Bridging the Content Gap in Teacher Education/ Connecting to Core Knowledge Teachers: 2003 Conference/ A Bridge to Literacy: The Reading Program/ Preschool: Paving the Way to Future Learning/ Bridging the Way to New Alliances/ Financial Status
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