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Q
Why does the school ask us for a gift in addition to tuition?
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A
Tuition alone does not cover all of the school’s day-to-day expenses, nor does it allow sufficient margin to grow and develop the programming and facilities we all want and expect as part of a Canterbury education. Unlike public schools, which are funded by tax dollars, independent schools rely solely upon tuition, endowment income and charitable gifts to meet their expenses. Charitable gifts are needed to bridge the gap between tuition and the actual cost of operating the school.
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Q
Why doesn’t tuition cover the cost of operating the school?
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A
If tuition were set at a higher level, Canterbury would become unaffordable to many qualified students in our community. Since the founding of the school, the board has attempted to set tuition at a level that can be met by families of diverse socioeconomic backgrounds, making Canterbury affordable to a broad spectrum of area families. The remainder of the cost each year has been covered by The Canterbury Fund, through which our entire community – parents, grandparents, faculty, alumni and friends – is asked to support the school with a charitable gift. This belief and this practice hold true today.
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Q
What is The Canterbury Fund?
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A
Because additional funds are needed to cover the year’s operating expenses, each October all Canterbury families and friends are asked for a contribution as a means to raise the balance of the funds needed for the current school year. If all families participate – recognizing that they will give at different levels – together we all help cover the additional cost.
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Q
What does The Canterbury Fund support?
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A
These gifts are not restricted, or directed, and therefore go to work immediately to support programs across the board, including academics, the arts, faculty development, financial aid, the libraries, athletics, technology and facility maintenance. These donations positively impact every Canterbury student in every division and keep the margin of excellence at a level we have all come to expect.
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Q
When can gifts be made to The Canterbury Fund?
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A
Gifts to The Canterbury Fund are accepted anytime during our fiscal year beginning July 1 and ending June 30. Because these gifts are anticipated in this year’s operating budget, early gifts are greatly appreciated. This is why we encourage donors to send gifts by December 31 if at all possible. Also, early gifts and pledges reduce mailings and overhead costs, saving dollars for use in academics and other school programs.
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Q
Why is participation in The Canterbury Fund so important?
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A
Participation is so important because it is a measurement of overall support and admiration for the school. Many independent schools have 100 percent participation in their annual giving programs. Last year, our parent support was 61 percent; the year before it was 74 percent. This negative trend is not healthy for our operating budget. A gift at a comfortable level from all families is appreciated and welcomed.
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Q
How much should we give to The Canterbury Fund?
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A
That is a question each family must decide. We encourage everyone to give in the generous spirit that is so much a part of Canterbury. Without question every gift, regardless of amount, is greatly appreciated and important to the overall success of the effort. Over the years, contributions have ranged from $10 to $20,000. Every gift is important.
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Q
What are Leadership Gifts?
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A
Leadership level gifts begin at $2,000. Leadership gifts are crucial to the success of The Canterbury Fund. Donors who make gifts at these levels are recognized yearly by leadership category in The Canterbury Fund annual report and are invited to an annual Leadership Reception.
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Q
Is our gift to the school tax-deductible?
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A
Yes, all charitable gifts are tax-deductible to the extent allowed by IRS regulations.
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Q
Can our gift be made anonymously?
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A
Absolutely. When you send in your gift, just let us know that you would like it to remain anonymous, and we will be happy to honor your request.