What is SCRIP?
SCRIP is a term used to describe gift cards that contribute a designated percentage of the card value to Kol Emet when purchased. The contribution is made by the card-issuing merchant while the buyer is able to spend the full face value. Amounts of contributions vary depending upon the merchant issuing the gift card.
And why you should care! Its no secret that Glen Ridge receives less than 5% back from the state, despite having a very economically efficient school system. In an effort to create an immediate and additional source of funding, the Glen Ridge Scrip Program was launched in 2003. Scrip is the most efficient fundraiser in town. And it does so without asking anyone to give a penny! Scrip has earned more than $60,000 since 2003. The money is spent on capital improvements to the school buildings. Projects funded by scrip include: the renovation of the High School bleachers, paving the playground at Linden Avenue, Ridgewood Avenue and High School, exterior trim repair and painting at Forest Avenue and the exterior refurbishment of the Ridgewood Avenue Auditorium front steps. Scrip is the Answer But what is it? Its gift cards from our local grocery stores and big name retailers. Heres how it works. You buy a gift card from the Glen Ridge Scrip Program and the Glen Ridge schools get a percentag
A scrip is a sort of proxy currency, used in the place of actual legal tender as a way of representing money. Often, scrip is purchased with legal tender, although it can very rarely be redeemed for money again. Scrip can be spent in specialized venues. Since scrip is not legal tender, there is no implicit legal guarantee that it will be accepted for its cash value, although most contemporary scrip includes some sort of guarantee. Historically, scrip was often used by companies as a way of paying their employees in a currency they could only spend at company stores. Loggers and miners, for example, were often paid partially or wholly in a company scrip, with which they could then buy food, supplies, and miscellaneous sundries at the local company store. This allowed the companies to charge whatever rates they wanted for their products, effectively removing any competition or choice from their employees. Most companies allowed their employees to cash in their scrip for actual legal tend
