Annual Fund 2014-2015

The Annual Fund is the single most important and effective way you can contribute to Marymount.
Trudi and I are proud to once again be serving as Co-Chairs of the 2014-2015 Annual Fund for Marymount! 
  
The Annual Fund is the single most important and effective way you can contribute to Marymount.  Our goal is to raise $320,000 that will allow us to go beyond what tuition provides for our students.  Annual Fund contributions go directly to improving academics, athletics, technology, the arts, as well as improving our facilities, increasing faculty salaries, and helping deserving students and their families remain at Marymount by providing tuition assistance.  In short, we would not be nearly the excellent school that we are without a successful Annual Fund campaign.

As you evaluate the level of your financial support, please consider a few important thoughts.  The dollars raised through the Annual Fund represent a significant share of Marymount’s gross revenues.  They are devoted entirely to funding the school’s annual operating budget.  In common with private schools at all educational levels, the total tuition dollars received by the school each year is less than our budgeted expenses for essential activities.  While the school could always raise tuition to meet its budget, it would eventually price itself out of the competitive market in Santa Barbara and would become inaccessible to many current and prospective families.  A tax deductible contribution to the Annual Fund will help sustain the great mission pursued by the educators at Marymount.

We are so grateful for the difference that all supporters make at Marymount.  Last year we were able to reach new highs in many important areas of our Annual Fund campaign, including a record number of new and returning Headmaster’s Club members.  With an 87% overall participation rate, our 100% parent participation goal is in sight and ready to be reached!  We are keenly focused on the growth and improvement of Marymount this year and for years to come.  We are proud of the strategic planning we accomplished last year, and hopefully you have seen terrific signs of success that are benefiting our students.  We ask you to support the school’s 2014-2015 Annual Fund and the school’s secure and prosperous future.   

A contribution to the Annual Fund, whether large or small, provides a tangible and lasting benefit to all of our children, and promotes the ideals we have all come to share.

We look forward to a truly rewarding and successful year. 

Wishing you all the best,
 
Trudi and Rich Schuette
2014-2015 Annual Fund Co-Chairs
Frequently Asked Questions (FAQs)
 
What is the Annual Fund?
The Annual Fund is a direct appeal to trustees, parents, grandparents, alumni parents, alumni, faculty, staff and friends for financial contributions in support of the school’s operating budget.
 
Why is the Annual Fund necessary?
Tuition covers about 80% of the annual operating expenses of the school, and the purpose of the Annual Fund is to help bridge this gap. Income from the Annual Auction also goes toward annual operating expenses. We raise about $800,000 per year from these initiatives.
 
Why not raise tuition?
No independent school could charge the full cost of educating its students without pricing itself out of the market. That’s why every independent school has an Annual Fund.
 
Is my donations tax deductible?
Marymount of Santa Barbara is a 501(c)(3) nonprofit organization. Gifts to Marymount are tax deductible as allowed by law.
 
Why is it important for me to give to the Annual Fund? 
While the true value of a Marymount education is hard to quantify, the cost of educating each student at Marymount exceeds tuition every year. We supplement funding for our educational and extracurricular programs with money generated from annual fundraising activities, special gifts to the school and, from time to time, capital campaigns. The generosity of Marymount’s supporters enables us not only to maintain but also to enhance the quality of our students’ educational experience each and every day.
 
Thanks to the commitment of the Marymount community of parents, board, alumni, grandparents, and friends, Marymount is financially stable and its program is strong.  However there are always opportunities for growth and we want to see that current and future Marymount students receive the best education available. Charitable giving to Marymount allows us to make the school and its program even better than it currently is.
 
Why does Marymount ask for the "gap amount" of $2,500 per student? 
The largest part of Marymount’s operating budget is covered by tuition. While one might expect that tuition would cover all of the operating expenses, it does not. The school deliberately sets tuition below full cost in order to keep the school more affordable to a wider range of students and to provide community members with opportunities to support the school with tax-deductible, philanthropic commitments. This practice is typical of most independent schools.
 
Each year Marymount asks current families to support the Annual Fund at the "gap level" which is currently $2,500 per student. This is the cost per student that is not covered by tuition dollars. Families who are able to do so are encouraged to give more, as this helps cover the gap as other families at the school are unable to support at that level. Every gift – from $25 to $25,000 - is important because it is a gift of participation and support for our School community and we greatly appreciate how supportive the Marymount community is.
 
What role does philanthropy play in the school’s budget? 
Fundraising is the second largest form of fiscal revenue at Marymount.  As do most independent schools, Marymount also relies mostly on gifts from individuals within its community: parents of current students, parents of alumni, alumni, and grandparents of current students, friends, faculty, and staff. Marymount also requests grants from charitable foundations and corporations but these requests are mostly for specific, program-related support. If you are aware of any foundations or corporations that might be interested in supporting Marymount, please notify our Development Office.
 
How and when will my family be contacted for an Annual Fund gift to the school?
Marymount’s Annual Fund officially begins in the fall each year. Members of the Marymount Community will receive a letter from the school in November. We hope to have all pledges in by January 31, 2015 and gifts must be received by June 30, 2015.
 
What are the giving levels at Marymount?
Any gift - no matter the size - is greatly appreciated by Marymount. If you are fortunate enough to be able to support the school at a higher level, leadership giving levels start at $2,500+ (Headmasters Club).
 
May I make a pledge in fulfillment of an Annual Fund gift?
Yes. Gifts to the Annual Fund may be fulfilled by pledges and you may pay in installments. We simply ask that pledges to Marymount be documented in writing by January 31, 2015 and fulfilled by June 30, 2015.
 
To work out a monthly installment schedule for your Marymount donation, please contact Andrea McFarling, Director of Development, at 805-569-1811 x.234 or amcfarling@marymountsb.org.
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