How We Are Funded
My Own Book is financed entirely by private donations made through the Fund for Public Schools, Inc., a qualified 501 (c) (3) corporation established by the NYC Department of Education as an interface with the philanthropic community. My Own Book is staffed entirely by volunteers and its annual budget is approximately $125,000. The Freeman-Harrison Family Foundation provides major support through annual contributions. In addition Burt and Sandi Freeman established a $400,000 endowment the income of which provides further support.
Additional generous contributions have been made by The Peter J. Sharp
Foundation, BlackRock Financial Management, American Book Company, The
Bloomberg Foundation, Vincent Mulford Foundation, Financial Security Assurance
and other individual, foundation and corporate donors.
The Income and Expense Summary for the 2010–2011 school year is as follows:
| Opening Balance 07/01/10 | $ | 114,425 |
| Income | 66,019 | |
| Book Store Purchases | (120,560) | |
| Fund for Public Schools Admin Fee | (4,621) | |
| Balance as of 6/30/11 | $ | 55,263 |
| Balance in Endowment Fund | $ | 428,852 |
| Total Assets as of 6/30/11 | $ | 484,115 |
