:: Friends Academy ::

	There are many reasons to support Friends Academy:
	Teachers who care and are given the tools to teach
	A community of diverse students and families
	A strong commitment to financial aid
	A balanced program combining strong academics, athletics, performing and visual arts
	A curriculum that includes service to others

What is the Annual Fund?

The Annual Fund is also referred to as Annual Giving. The two terms are synonymous.

Tuition does not cover the full cost of a Friends Academy education. It will only cover about 86% of the cost. Put another way, each student receives about $2000 tuition discount. Every independent school, college and university has this gap.

Friends Academy depends upon Annual Giving to help close this gap between tuition revenues and operating expenses. Each fall, each of our constituents, parents, alumni, faculty and staff receives the Annual Fund appeal. Gifts to the Annual Fund are unrestricted and are used to meet current needs. Gifts to the Annual Fund are applied directly into the current year. These differ from Capital Campaign gifts which are used to build or renovate facilities or to build the endowment which is used to ensure the school’s long term financial health and stability.

Where does the Annual Fund go and who decides how it is used?
The short answer is, with unrestricted gifts funds go where they are needed most. More specifically, Annual Fund gifts go directly to the operating budget to help pay financial aid, faculty salaries, and co-curricular activities. The operating budget is determined by the Finance Committee with the endorsement of the Executive Committee of the Board of Trustees.

What is the Annual Fund Goal?
There are two goals. The first is to raise $1.1 million in unrestricted gifts. This represents a 10% increase over last year’s goal of $1 million. The second goal is to have all of our parents participate by making a gift.

Will I be asked to contribute to the Annual Fund?
Yes! All members of the community are asked to contribute to the Annual Fund as their means allow. Annual Giving is the major fundraiser for Friends Academy and we ask that everyone participate. When you receive a mailing or a phone call we ask that you please give generously. The best way to prevent being solicited for a donation is to make your contribution early.

How much should I give?
You are the only one that can decide what your gift should be. Last year gifts ranged from $10 up to $100,000. There are leadership gift clubs at the $500, $3000, $5000, and $15,000+ levels. Many give more modest gifts. The key is supporting through participation as your means allow.

Circle of Friends:
Gifts of $20,000 or more

1876 Society:
Gifts of $10,000 - $19,999

Gideon Frost Society:
Gifts of $5,000 - $9,999

Red and Black Association:
Gifts of $1,000 - $4,999

Young Alumni Leaders:
Gifts of $100 or more (Alumni within 10 years of graduation)

Why is participation so important? Do you really care about a $10 gift?
YES! Again, your donation is a demonstration of support for the school, its mission and values. Every gift from every donor is appreciated. Many gifts come from new alumni, from faculty and staff, and from those on financial aid. While these do not account for the majority of funds raised, these gifts are especially treasured as they represent a strong belief in our community. This support encourages and inspires others to give.

Are gifts tax deductible?
Yes, if you itemize. Each gift will receive a thank you letter from the Development Office which serves as a receipt for tax purposes.

How can I increase my gift without paying more? How do matching gifts work?
Many companies match gifts to non-profit organizations. You could double or even triple your gift to Friends by filling out a simple form from your company's human resources office. It's that easy! Check with your company’s human resources or corporate giving department and make sure to send the company’s matching gifts form in with your donation.

Why would someone make a gift of stock or another asset like real estate?
Gifts of appreciated securities and other assets may offer tax advantages to the donor. Capital gains taxes on appreciation may be avoided if an asset is donated. Yet, the donor gets credited for the market value of the asset that is given.

More details may be available from your financial advisor. You can also contact the Development Office for details on how to make a transfer.

We already pay tuition, and lots of it, what do we get when we donate?
Gifts support the people and programs that make FA unique. Dedicated teachers, small class sizes, academics and co-curricular activities. Financial Aid makes diversity possible and diversity benefits all students. Broadening our community introduces a variety of viewpoints and perspectives. It is part of the mission and values of the school.

Why does Friends need the money? Look at the beautiful campus and gorgeous facilities.
It is easy to overestimate how affluent FA is. One should not assume that the school is rich, the teachers are well paid, and the financial needs are few. The reality is that tuition doesn’t cover the cost of a Friends Academy education and the Annual Fund helps bridge that gap. In addition, our teachers are paid much less than they can make in a public school, or even other top independent schools. Friends is seeking to narrow that gap to attract and retain the highest caliber faculty. Without donations to the Annual Fund the school would operate at a deficit of approximately $1 million per year.

Can't the school be run more efficiently? Why don't we cut our costs? Don't we have too many administrators?
Those making donations to Friends Academy can be assured their funds are being used wisely. Friends runs a very lean and efficient organization. In a benchmark study of similar schools, FA had among the lowest administrative costs as a % of operating expense and plant expense as % of operating expense.*

This was echoed in Friends Academy’s recent annual audit. In their review of the 2004 fiscal year, our auditors noted that Friends devotes 85% of total expenditures toward programmatic expenses. This is percentage is among the highest they have seen; other top independent schools devote 80% and the Better Business Bureau recommends a minimum of 70%.**

Academically, efficiency is not the goal. High quality education is labor intensive. It requires personal attention. Increasing classroom size and reducing staff is counter to the goal of providing the best education possible.

* Benchmark comparison study Friends Academy Finance Department
** Loeb & Troper inc. comments in 2004 Financial Review Minutes

Can I help volunteer with the development office to help fundraising efforts?
Yes! Friends has instituted a volunteer program for those that are able to contribute time during the school year. Please contact the Development Office at 516-393-4269 for more details on how to participate.