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| 10 for 2010 (school construction projects) |
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| Project Director |
| Scott M. Lacy |
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Project Number |
Total Cost (US$) |
Location |
ED01-08 |
$13,286.62 |
Multi-sited |
|
Project Description
Limited access to elementary school education is one of the many faces of endemic poverty. In Mali, a sixth grade education is the highest level of formal education for many rural students. Education beyond the sixth grade typically requires students to move away from their family. Building elementary and middle schools in rural Mali will increase access to educational opportunities for the children of hard working farm families.
African Sky is building a total of 10 rural schools in Mali for the year 2010. With sites selected in Mali's Bougouni region, Segu region, and Mopti region, school construction (Phase I) begin in late 2009. Because we already built our first school, we have designs, contractors and experience. This experience enables us to build nine additional schools for approximately $14,000 each (construction, furnishing, and supplies for students and teachers). Because we are contracting and furnishing in "bulk" we have further maximized our modest construction budgets.
Until preliminary construction begins, African Sky and its US School Partners are raising funds for this, our highest priority project. African Sky purchased Certificates of Deposits to "preserve" project funds while we raise the remaining funds for the 10 for 2010 construction budget. We purchased two CDs during the 2008 fiscal year. The CDs are held at North Akron Savings in Munroe Falls, Ohio. We also opened two small sub-accounts. The first account (#42008961) is held at North Akron Savings in Munroe Falls, Ohio. The second account (#63379513) is held by our African Sky-Florida program at Bank Atlantic in Jupiter, Florida. In future we will deposit 10 for 2010 contributions in the relevant sub-account to aggregate donations prior to periodic purchases of certificates of deposit.
Project Budget | |
Items |
Amount |
Certificate of Deposit purchase - 10 for 2010 fund (CD#44700090, 2.23%, matures 2/7/2009) |
$4,236.62 |
Certificate of Deposit purchase - 10 for 2010 fund (CD#44300042, 3.30%, matures 1/22/10) |
$7,500.00 |
|---|
Restricted Deposit - 10 for 2010 fund
(Restricted Account #42008961) |
$1,000.00 |
|---|
Restricted Deposit - 10 for 2010 fund
(Restricted Account #63379513) |
$550.00 |
|---|
Total |
$13,286.62 |
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