FAQ

Technology Education Foundation Update 12/26/2023

The Technology Education Foundation (TEF) has been funded by all the proceeds from the annual Berbee Derby Thanksgiving race for the past 20 years. During those 20 years, the TEF has granted more than $1.5 million dollars to support technology education in our community. In addition, the TEF has built up an endowment of about $850,000.

With the sunsetting of the Berbee Derby in 2023, the directors and selection committee of the TEF have been considering the best use of the endowment funds.  We have identified five key objectives.

1. Distribute grants for technology education in our community.
2. Make the grants in perpetuity.
3. Create broad knowledge of the availability of technology education grants.
4. Manage the grant process professionally.
5. Manage the endowment dollars professionally.

We have determined that the best course of action based on these criteria is to transfer the Technology Education Foundation and its assets to the Madison Community Foundation (MCF). The MCF is a Madison-based non-profit that manages $360 million across 1,235 funds. They have a staff of 16 professionals, who along with community volunteers, solicit and evaluate proposals across a broad span of community needs. 

At the MCF, the Technology Education Foundation fund will provide “field of interest” grants in perpetuity. Those organizations interested in obtaining a grant for technology education will apply through the MCF. More information can be found on the Madison Community Foundation website.

All of us at the Berbee Derby and the Technology Education Foundation, in partnership will thousands of participants and area companies, are proud of what we have accomplished for the community these past two decades. We wish you good health and a lifetime of learning.

Jim Berbee

Founder, the Berbee Derby and the Technology Education Foundation