Board Veteran Ken Schofield Steps Down Ken joined the ESEF Board soon after the culmination of his second term on the Board of Education. He saw it as a way to remain involved in education as well as an excellent opportunity to invest in his passion--helping the community understand the importance of supporting education. The ESEF looked quite different in the early days of Ken's involvement. The Foundation raised $70,000-$90,000 per year. Those funds were then granted each year to meet the growing needs of the schools; so when the coffers were empty by summer, the Board would begin once again from zero to raise money for the following year. Ken believed the Foundation could do more, especially given the composition of the Board, which included several senior executives from local corporations and community members who were impassioned about education. "It inspired me that they would come and serve in this way; but at the same time, I didn't think we were being as productive as we could be," he explains. With ESEF's annual grant to the District hinging solely on the current year's fundraising efforts, Ken saw an opportunity with lasting implications. "I wanted to establish an endowment--a fund that you can't get to and can't spend other than its earnings," he says. In the twelve years now since he joined the Board, Ken's plan has become a reality. "Today we're sitting on an endowment of more than $1 million. I'm very proud of that; I feel it's my legacy to the Foundation," he says. And it's a significant legacy, which becomes more valuable over time. Earnings from the Endowment can help relieve some of the pressure on annual fundraising and safeguard against the types of economic fluctuations we are currently experiencing. While his departure from the ESEF was unexpected, Ken knows that as one door closes, another door opens for the ESEF. "The board is probably best served by changing the membership every so often. That way you're introducing new blood, energy, thoughts, and activity all of which can generate fundraising ideas. Frankly, I hate to leave, but I know the Board will continue to evolve to effectively serve the needs of our schools," he says. Fellow Board member Jayne Pimlott says, "Ken was a voice of experience and reason that helped us reach consensus in board meetings. He's very good at listening to all aspects of a conversation and distilling the essential points of the matter," she explains. "But his real mark on the Foundation is his work on the Endowment Fund. Ken was instrumental in establishing the Fund and the investment policy that governs it. Thanks to his vision, the Endowment will benefit future generations of El Segundo students in perpetuity." Chairman of the Foundation, Richard Lundquist concurs, "The Foundation has grown because of Ken's leadership and dedicated service over the years. He has provided insight, experience, level-headedness, and energy to our endeavors. His presence will most certainly be missed." Although his focus is changing, Ken still has a passion for education. "We need to provide a program for the kids of El Segundo that can't be found anywhere else. That's the concept I feel the Foundation should live and breathe for," he says. "The greatest asset we have is the young people walking around here. They are the people who will one day run our country. The best investment we can make is in these kids." Though he'll miss his interaction with the Board, he knows he's leaving things in capable hands. "There are a lot of exceptional people who work hard and dedicate a lot of hours to the Foundation. I will really miss working with them. They believe the community has to do more for the education of our children and that we can't leave their educational welfare entirely to the state. There is truly no better service than to devote oneself to the education of our future leaders," he says. Thanks for your years of dedicated service Ken! You will be missed.