- What is Canterbury's Annual Fund and why doesn't tuition cover the full cost of educating a child?
- How is my annual fund gift used?
- How much should I give?
- What is the difference between annual fund, a capital campaign, and endowment?
Like all independent schools, our budget is set so that tuition covers about 90% of our expenses. The 10% balance of our needed income is derived from the Canterbury Annual Fund, which provides critical annual monetary support for teacher compensation, technology, the arts, sports and inspiring curriculum.
To sustain Canterbury’s mission as a high-achieving college preparatory school, each year Canterbury generates its funding from
- private grants
- fundraising from parents, alumni, grandparents, faculty/staff and other community members
If our budget were set to cover the full 100% cost of educating each student at Canterbury, it would require a significant tuition increase. Instead of an increase, Canterbury asks every family to contribute a tax-deductible donation to Canterbury’s Annual Fund, thus reducing each student’s annual tuition cost and encouraging a diverse student body.
Canterbury’s Annual Fund dollars are used to enrich our faculty and staff needs and compensation and to cover facility expenses, as well as fund exciting programs at the school such as Technology Initiatives, Marine Studies, Theater/Arts , Athletics, International Studies, and more! The annual fund touches all aspects of the school.
Ideally, if each Canterbury family could contribute $1,500 per child to the Annual Fund, the school could run efficiently, and parents could enjoy a portion of their child(ren)’s “tuition” as tax deductible, since—unlike tuition dollars—all donations to the Annual Fund are tax deductible.
On average, Canterbury parents contribute $1,200 to the annual fund each year (pledges can be paid in installments). Annual fund gifts range from $25 up to our Head of School Society level gifts of $25,000 and above.
If everyone gives as he or she is able, we can reach our goals. Your contribution—at any level—is very important! Canterbury applies for local and federal grants on a regular basis. In order to qualify for many of these grants, a 70% participation rate by our constituents is required. In addition, national associations and local organizations inquire about our participation rate. A strong message of commitment by our families and staff is given when we exceed 70% participation.
Gifts to a capital campaign allow us to build facilities, add programs, and strengthen our endowment. Capital campaign gifts are restricted to the specific purpose of the associated campaign. Annual Fund gifts by definition are unrestricted and fund the intentional gap between actual costs and tuition for each school year. All capital campaigns for new facilities include an endowed amount for perpetual facility maintenance.
HEAD OF SCHOOL SOCIETY
$25,000 or more
$10,000 - $24,999
$5,000 - $9,999
$2,500 - $4,999
BLUE AND GOLD CLUB
$1,200 - $2,499
FRIENDS OF CANTERBURY
$500 - $1,199