Call it an elementary lesson in economics.
A Silicon Valley grade school is about to make a mini-killing on the stock market as its fund-raising arm prepares to sell shares in Amazon.com.
The Woodside School Foundation, via an anonymous donation, plans to sell 290 shares in the online bookseller, according to documents filed with the Securities and Exchange Commission. The shares carry a value of $25,447, according to the filing.
Laurie Livingston, past president of the foundation, said the nonprofit receives a couple of stock donations a year. While the school is located in an area many Silicon Valley titans call home, Livingston noted not all stock donations involve tech shares.
"We have a diverse community here," she added.
Diverse indeed, as in portfolios. Among those attending the school include the daughter of John Doerr, a partner with venture capital firm Kleiner Perkins Caufield Byers. KPCB served as a venture firm for Amazon.com.
Although Amazon's share price has more than doubled since its initial public offering 13 months ago, the Woodside Foundation is playing it safe: It will take the money and run.
"Generally, when the foundation gets stock donations, it doesn't hold them as an investment," said Bruce Thompson, district superintendent of the Woodside School.