FAQ
What is the Annual Fund?
What does the Annual Fund do?
What is the Endowment?
What does the Endowment do?
Why does Andrews Osborne Academy Fundraise?
We pay so much in tuition, doesn’t that cover the costs?
What does "Annual Fund" mean?
What is the difference between unrestricted and restricted money?
What is an Endowment?
What can I do?
Who can I contact?
- The Annual Fund is the fund that augments the operating budget of the school. It is money raised through fundraising activities, primarily the End-of-Year Appeal and major gift solicitation appointments.
- Annual Fund dollars are also commonly called unrestricted. This means that all funds not specifically restricted to a particular project or fund are deposited directly into the Annual Fund, i.e. the Operating Budget.
- In short, the Annual Fund as used in the Operating Budget, pays for everything from financial aid to the light bill. It includes faculty salaries and supplies and all aspects of daily operation.
- The Annual Fund is the main source of money which supplements the tuition revenue. Tuition never covers the cost of education in private schools, and Andrews Osborne Academy is no exception. Because no one pays the true cost, Annual Fund dollars are critical to help us achieve a balanced budget.
- An Endowment is a fund that produces interest. That interest is then used to support many aspects of Andrews Osborne Academy.
- Faculty Enrichment
- A strong endowment can provide salary support so that we can attract and retain our excellent teachers.
- It can also provide funds so that our AOA faculty can pursue advanced degrees and additional education.
- An endowed chair can ensure that we always provide a salary for specific expertise. For example: we can create an endowed chair for French language or American History.
- Scholarship
- Endowment scholarships are a wonderful way to underwrite the tuition, or part of a tuition, for deserving AOA students.
- Endowment dollars are also made available to supplement our financial aid.
- Technology
- Technology is constantly changing and planning for that change is a great part of our work. A technology endowment would provide an ongoing and growing source of funding so that we continue to lead the way in educational technology.
- Departmental Support
- Funds invested in the endowment might also support whole departments. We can underwrite the Fine Arts, Mathematics, and Sciences, etc. Indeed, such an endowment would ensure that we offer the very best education in each area as time moves on.
- Perpetual Facility Care
- As buildings and our campus age, we know that we must provide for the ongoing care of our inheritance. A perpetual maintenance endowment will ensure that our building is constantly attended and upgraded as needed. It will enable us to be excellent stewards of the land and buildings we have been so generously given.
- Tuition Control
- Finally, a strong endowment allows AOA to control tuition costs. The stronger our endowment, the better we can manage tuition growth and allow the maximum number of students to benefit from an AOA education.
Why does Andrews Osborne Academy Fundraise?
Because Andrews Osborne Academy is a private, independent school, it has few ways to create revenue. One important way is through tuition. However, tuition never (in any school) really covers the cost of education. In fact, the difference between the two has a name: the tuition gap. At AOA, our tuition covers approximately 75% of the cost of education. Therefore, we must look to raise money in other ways. The most important method is through fundraising.
All non-profit organizations (schools included) fundraise. These dollars, hopefully given to the Annual Fund, augment the operating budget so that the school does not have to raise tuition to the actual cost of education.
Fundraising is a critical part of life in private education and it must become even stronger if AOA is to remain healthy and available to all types of families: from people who pay full tuition and more, to those who must request significant financial aid.
We pay so much in tuition, doesn’t that cover the costs?
As explained above, tuition never covers the cost of education. If it did, very few people would be able to afford a private, independent education.
What does "Annual Fund" mean?
The Annual Fund goes directly to the operating budget of the school. The Operating Budget pays for everything from financial aid to the light bill. It includes faculty salaries and supplies and all aspects of daily operation. Participation from every alum is important! Even if you can only make a small annual donation, we appreciate your support. It is easy, safe, and secure to donate online.
What is the difference between unrestricted and restricted money?
When we ask for "unrestricted money" it means that the money goes directly into the Annual Fund, i.e. the operating budget.
If someone chooses to restrict money, let’s say to a scholarship, that money is not available to the entire student body. In fact, a scholarship fund might benefit one, two, or three students, while financial aid and operating money benefits the entire student body.
Indeed, when we fundraise for a special project, we are also limiting ourselves. For example, suppose someone gives us $1,000,000 to build a pool. We then learn from the architect, builders and insurance company that it will actually cost $3,000,000. We are, then committed to raising the additional $2,000,000 in new money and raise more operating money each year to maintain and insure the pool. If that person had given $1,000,000 as an unrestricted gift, the school leadership could have used it to purchase much needed books, raise faculty salaries, or simply meet budgetary needs.
What is an Endowment?
An endowment is the "savings account" held by the school. Endowment is the final insurance that a school can control tuition, underwrite special programs and preserve its mission.
What can I do?
As a part of the AOA community, we can do a great deal to help the school remain a vibrant part of young people’s lives. Your investment in the Annual Fund, whether that is in the End-of-Year, Mothers Day or other fundraising activity, means that the school will continue to thrive. Please consider a stretch investment in Andrews Osborne Academy. It is easy, safe, and secure to donate online.
Who can I contact?
The Development Team is eager to answer all your questions. Please call 440-942-3600 and ask to speak to someone from our staff!