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• PTO council from participating jurisdictions, by the President ofPVCC, by the President of UVA, by the Chamber of Commerce, and by the Charlottesville -Albemarle Community Foundation. The Board of the Public Schools Scholarship will then appoint at least three other members. If the Board is appointed by February, 2001, scholarships can be awarded starting in the `01- '02 school year. The Board will submit an annual report to the participating jurisdictions and school districts. In addition, the Board should have an independent organization conduct a full evaluation of the program and its impact on scholarship recipients within its fust eight years of operation, to determine if it is achieving its goals and should continue. Termination If for any reason the Charlottesville Public Schools Scholarship is terminated, the remaining funds will go to the City Schools (and any other participating school systems from localities that have contributed funds), and to other charitable organizations as mutually agreed to by the donors and by the Charlottesville -Albemarle Community Foundation. Charlottesville -Albemarle Community Foundation 0 The mission of the Charlottesville -Albemarle Community Foundation is to improve the quality of life for those living and working in the City of Charlottesville, the County of Albemarle, and the surrounding area by • Encouraging local philanthropy, resulting in the establishment of endowment funds for the benefit of our community, • Serving donors by providing a vehicle to facilitate their charitable intent, • Exercising leadership in the philanthropic community by assessment of community needs, and • Prudently managing its endowment funds and making grants from its income, to effectively meet the changing needs of the community. The Foundation now holds over $14,000,000 in assets for the benefit of the community. C1