FAQ
Marymount of Santa Barbara
Annual Fund 2009-2010
Frequently Asked Questions
Why is the Annual Fund so important?
Traditionally, the Annual Fund is vitally important to bridge the gap between what you pay in tuition and the actual cost of your child’s Marymount education. At Marymount that deficit is approximately $2,500 per child. As we all know, these are not traditional times.
This year, the Annual Fund at Marymount is not just about the gap in tuition revenue, but, more importantly, about the gaping hole that needs to be filled. Our efforts in holding tuition in check, increasing tuition assistance, and cutting back in non-program related areas as well as faculty and staff taking unpaid furlough days are all in an effort to keep our community together and our programs solid. Despite our leanest budget in recent history, 84% of our students scored at or above the national average in math and 78% at or above the average in reading using the norms for independent schools nationwide. In order to continue to build on our success we need the support of our community through the Annual Fund. For many years in a row, we have received 100% participation from the Board of Trustees and the Marymount faculty and staff. With last year’s parent participation reaching 88%, support and participation from Marymount families is critical. Your Annual Fund donation helps to close that gap and the hole.
Why doesn’t Marymount just increase tuition?
Raising tuition would likely result in the loss of many valuable students whose families cannot afford the increase. A drop in enrollment would lead to cuts in both educational programs and staff. Equally as important, Marymount highly values its diversity. Keeping tuition affordable assists in maintaining our robust and vibrant community which is part of what makes Marymount so special. (Another great reason for running an Annual Fund instead of raising tuition costs is that your donation to Marymount is tax-deductible while tuition is not.)
Why is 100% participation so crucial?
Your participation in the Annual Fund not only shows your financial support of Marymount, it represents your moral support as well. Many corporations and foundations ask for our school’s Annual Fund participation rating when deciding whether or not to provide us with additional funding. These corporations and foundations want to see that our families are fully engaged and financially supportive because that reflects the good job we are doing as a school.
I can’t afford to give much. Does my small gift really make a difference?
Every gift truly makes a difference. We are such a small community every gift helps towards achieving our goal.
But didn’t we meet our goal from the auction last year?
Yes, and congratulations to all who were involved in both putting the auction on and to those who attended and supported it. Proceeds from last year’s auction were used to help fund tuition assistance requests; fulfill the wish lists of faculty and staff purchasing such items as new resource books, classroom furniture, and equipment; and provide critically needed, planned support to Marymount’s operating budget.
Will my gift be kept confidential if I want it to be?
Absolutely! Any gift may be made anonymously and will, therefore, not be included in the Annual Report.
Is my gift tax deductible?
Yes. 100% tax deductible.
When do I make my gift or pledge?
Since Marymount is a small and very personal community you will be contacted in person or via email by a parent volunteer. These volunteers have been educated about the importance of the Annual Fund and have committed to giving themselves. Please be open to hearing what they have to say. Gifts may be made by either making a one-time donation, a pledge to give over an extended period, or a contribution of stock. We request that all gifts and pledges be paid by June 30, 2010.
