|February 25, 2011 - FOR IMMEDIATE RELEASE
The Bank of Oswego announced today it is making a $100,000 donation to the Lake Oswego School District Foundation. Calling the gift “one of the most important requests that our bank has received since our inception,” Bank of Oswego President Dan Heine said the donation will be made over the next five years.
The Lake Oswego School District is facing a more than $5 million dollar deficit. In response, the Lake Oswego School District Foundation is launching a fundraising campaign to “bridge the gap.” As one of the first to respond with a donation, Heine remarked, “We recognize the importance of retaining teachers and keeping class sizes small, so that Lake Oswego schools can continue to be the best in the state.”
For the past four consecutive years, Lake Oswego has claimed Oregon’s top ranking for multi-school districts. However, state cutbacks in school funding threaten to topple Oswego’s schools from their top position.
The purpose of the Foundation’s two-month fundraising effort is to raise enough money to circumvent the need to terminate teachers and staff, slash programs, or increase class sizes for the coming school year. Heine says the funds will give the District time to develop a long-term plan to deal with state funding cuts.
In addition to its donation, the Bank of Oswego is underwriting an advertising campaign with the theme “Don’t Fail Our Schools.” Utilizing full-page print ads, street banners, yard signs, websites and direct mail, the campaign is designed to motivate all sectors of the community to take action. The Bank of Oswego is also spearheading a direct-mail campaign to other local businesses, urging them to donate to the Foundation.
Heine points out that even residents without school-age children have a stake in the issue, noting that Lake Oswego’s reputation for exceptional schools plays a significant role in the community’s higher-than-average real estate valuations. “Any damage done to the reputation of our schools would have a real impact on the bottom line of our homes,” he says.
The Foundation estimates that if every parent with a student in the District donated $750 per student, to the campaign, it could raise $5 million dollars. For residents without school-age children, a $350 donation per household could accomplish the same goal.
Heine stresses the need for all sectors of the community to take action. “This is not just a problem for District administrators, city officials, or parents of school-age children,” he says. “It’s a problem that impacts the entire community—and one that will take all of us, working together, to solve.”
Donations (tax deductable) to the Lake Oswego School District Foundation’s fundraising campaign can be made at www.LOSDFoundation.org.
About The Bank of Oswego
The Bank of Oswego is a locally owned and managed full-service bank with two branches in Lake Oswego and a Business Banking Center in Sherwood, Oregon. Named one of the “100 Fastest Growing Private Companies” by the Portland Business Journal in June 2010, The Bank of Oswego provides a full range of banking services, paired with exceptional customer service. For more information, visit www.bankofoswego.com.