Giving Explained
What is the difference between SEM’s Annual Fund and other giving? SEM’s annual fund is vital to SEM’s operating budget, as tuition alone does not cover our school’s expenses – typical for independent schools everywhere. 8-10% of our expenses are covered each year by annual fund gifts, and that support is essential to fund SEM’s teaching and learning opportunities, our financial aid, and our campus. SEM’s annual fund starts on July 1 and ends on June 30 every year and includes support from alumnae, parents, faculty, trustees, parents of alumnae, former faculty, and friends of SEM. Both faculty and trustee support of the Annual Fund has been 100% most years. There are a number of levels of giving as indicated in this report.
What role does SEM’s Endowment Play? SEM’s endowment is a permanent investment that provides annual support to SEM. It consists of over 50 named funds supporting donor individual interests in scholarship, SEM’s faculty, SEM’s programs, or the school’s greatest needs (also referred to as “unrestricted” endowment). These funds are invested in perpetuity to benefit SEM by generating earned income to contribute to our operating budget. SEM’s total endowment as of June 30, 2020, stands at $9,197,906. Growing SEM’s endowment builds a stronger and more stable financial base for future generations.
What is Planned Giving? At SEM, being a planned giving donor makes you a member of the Elm Legacy Society. Planning ahead for a future gift allows individuals and families - through bequests, trusts, retirement funds, life insurance, real estate, and other estate planning instruments – to provide for SEM’s future and to achieve charitable goals including lowering capital gains and other taxes. Joining the Elm Legacy Society is one of the best ways to provide a lasting legacy that will benefit future generations of SEM students, SEM faculty, and the quality of the school’s programs and learning environments. And of course, planned giving lets you establish your legacy, whether you decide to recognize your class, parents, spouse, family, or yourself in making a bequest to SEM.
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2019-20 Impact Report
