A single donation from a local businessman helped Columbia Public Schools Foundation’s endowment fund reach the million-dollar mark.

Pugh

At last night’s annual Hall of Leaders banquet, Bob Pugh, CEO of MBS Textbook Exchange, gave a $12,000 gift, just the amount needed to reach the milestone.

"It was a tremendous contribution," foundation Treasurer Kim Stonecipher-Fisher said, noting that it’s one of the biggest single donations ever made in the organization’s 10-year history.

"I think they’re doing the right things to help public education with a little private funding. You don’t often see that," Pugh said by telephone this morning. "My family is entering its third generation as Columbia Public Schools pupils. My grandkids are in school now, so I thought it was appropriate."

The private foundation, which has awarded more than $300,000 in grant funding to Columbia Public Schools, has eyed a $1 million endowment fund since it was founded in 1996. Originally, organizers planned to end other fundraising endeavors once it reached that mark, using interest earned off the endowment to fund the grant program.

Board members say they’ve decided not to stop now.

"We had said the $1 million was our goal; now we’re calling it a milestone," board member Jan Swaney said. "It’s not a stopping point. As the district continues to grow, the needs continue to grow."

The foundation saw a significant funding boost this summer when the board launched a new membership drive. Sending a mailer to community residents, the foundation brought in more than $50,000.

That drive, which the board plans to continue annually, might replace another foundation fundraiser.

Swaney said the board isn’t sure whether it will continue its relationship with Major Savers, a Kansas City-based fundraising company that provides $10 dining cards for schools to sell. This summer, Major Savers’ $23,953 check to the foundation bounced. The company later reimbursed the organization, but Swaney said the board needs more information about the company before continuing that endeavor.

The foundation plans to continue other annual events, namely the Hall of Leaders banquet, which is one of the biggest fundraisers of the year.

Bill Fairman, who was honored for his service as past president of the Columbia Public Schools Foundation, said he was pleased with last night’s event.

"I’m not sure I need to be recognized," he said of being inducted into the Hall of Leaders. "The best feeling is to see such a successful event and successful foundation."