Frequently Asked Questions
Q. What does the school expect of us?
In addition to making tuition payments on time, we hope that you will:
- Participate in the Annual Fund to the extent that you are financially able.
- Volunteer for special events sponsored by the school.
- Support periodic capital campaigns which are necessary to provide new facilities and fund endowment.
Q. Why does the school ask us for contributions in addition to tuition and fees?
Like many other independent schools, our development efforts are designed to bridge the gap between tuition income and fees and the actual cost of operating the school.
Q. Why not increase tuition?
St. Michael’s Board of Directors strives to keep tuition and fees low enough to provide outstanding educational opportunities to a diverse range of families. Significant increases in tuition could make the School unaffordable for many families now served, resulting in a decrease in enrollment and imposing a greater increase in tuition for those remaining families.
Q. What is the Annual Fund?
The Annual Fund is the primary source of revenue to supplement tuition and fees. Every year stakeholders are asked to make gifts to the Annual Fund to provide additional income to meet the day-to-day costs of operating the school.
Q. What is the difference between the Annual Fund and a capital campaign?
- Capital campaigns are conducted periodically to provide significant funds to reach long-term goals for construction, major improvements and renovations.
- Capital campaigns typically last more than a year with gifts and pledges made over a three to five year period.
- The Annual Fund is funding for today—providing funds to offset day-to-day operating expenses. Annual Fund gifts are made during the fiscal year, beginning July 1 and ending June 30.
Q. Will we be expected to give to both?
We hope that all parents and friends of the school will support both efforts.
Q. Does the school solicit support from other sources besides parents?
Yes, we do. In addition to our parents, we also contact alumni, grandparents, past parents and friends to gain support for fundraising initiatives.
Funding proposals are also submitted to foundations and corporations. Strong internal support is important in securing foundation commitments.
Q. What are corporate matching gifts?
Some companies match charitable contributions from their employees to qualifying organizations. Employers provide the necessary applications to request a matching gift.
Q. Can a donor restrict a gift for a specific purpose?
St. Michael’s encourages unrestricted gifts, but if there is a project a donor would like to support, please let us know.
Q. What types of gifts are accepted?
- Cash gifts
- Pledges (paid within a specified period of time)
- Appreciated securities
- Bequests
- Life insurance
- Gifts in-kind
Q. Is our gift tax-deductible?
All gifts are fully tax-deductible according to IRS regulations.
For additional information or questions, contact the Development Office by calling 804. 272. 3514 ext. 216.