Ohio SB12 amends the Revised Code to allow community foundations to create component funds for charitable gifts to public schools and classify.

Ohio SB12 amends the Revised Code to permit community foundations to create component funds for charitable gifts to public schools, including funds from grants, devises, bequests, or other means. These funds can include charitable, institutional, or endowment funds related to the school district. The bill also allows STEM schools and community schools to use community foundations to create component funds for similar purposes. The community foundation must meet specific criteria, such as being a nonprofit corporation and supporting a defined geographical area.

Ohio SB12 amends the Revised Code to allow community foundations to create component funds for charitable gifts to public schools and classify.

Ohio SB12 amends the Revised Code to permit community foundations to create component funds for charitable gifts to public schools, including funds from grants, devises, bequests, or other means. These funds can include charitable, institutional, or endowment funds related to the school district. The bill also allows STEM schools and community schools to use community foundations to create component funds for similar purposes. The community foundation must meet specific criteria, such as being a nonprofit corporation and supporting a defined geographical area.