Raleigh, NC—Lieutenant Governor Dan Forest today announced his intention to create the North Carolina Education Endowment aimed at supplementing teacher pay in our public schools.
During testimony before the Joint Committee on Education Oversight, Lt. Governor Forest and Sen. Jerry Tillman unveiled legislation to create the fund, legislation that will be introduced in the short session of the General Assembly this month.
“The North Carolina Education Endowment Fund is a special fund created with a singular purpose—to increase teacher compensation in a manner that positively impacts student achievement. This innovative framework for supplementing teacher pay is essential to showing teachers, students, and parents that we cannot settle for an average public education system in North Carolina; rather, our quality of education must be second to none. The Education Endowment helps us reward our great teachers for their professionalism and passion in shaping North Carolina’s next generation of leaders,” said Lieutenant Governor Dan Forest.
The North Carolina Education Endowment will provide three ways for the general public to participate in raising the pay of our public school teachers:
1. Individuals and Corporations will be able to receive a deduction from their state taxes for charitable contributions paid into the fund for teacher pay.
2. Individuals and Corporations who receive a tax refund from the State of North Carolina will now have the option to designate a portion of their refund towards the Education Endowment for teacher pay.
3. A new license plate will be created with the words: "I Support Teachers" with all proceeds going into the Education Endowment for teacher pay.
Forest continues, “This is just the beginning framework for the North Carolina Education Endowment Fund. As our state continues to work its way out of economic stagnation, and as our state government continues to become more efficient, we will find new funding sources for the endowment that allow for expedited growth. The end goal being and endowment that is self-funding and rewards teachers from interest earnings.”
Forest's announcement comes the same day as the Governor unveiled his Career Pathways Teacher Pay Initiative, a proposal, the Lt. Governor likewise supports. The North Carolina Education Endowment is just another piece of the puzzle in making North Carolina’s public education system a leader nationwide.
For questions or press requests, please contact Kami Mueller, Kami@danforest.com.