A Guide to Giving and
Getting Involved Summit School fosters
A Fertile Learning Environment
Educating a child requires an exceptional
faculty, a curriculum that develops fluency, creativity and competency and the generous involvement of parents. Summit School encourages parents, grandparents and alums to actively participate in the daily life at Summit and provide financial support beyond tuition. Since its founding in 1933, each Summit School family has played an active role in the school community. Summit parents share the responsibilities of meeting the school’s educational goals and ensuring a soundly governed and financially healthy institution. Summit relies on the support and involvement of our entire community – including current and past parents, grandparents, trustees, alumni, faculty and staff. Through volunteer opportunities, special events and fundraising efforts, the school provides a variety of ways to become involved.
A Generous Community Supports Summit’s Mission Financial Support
We understand that within a school year you will be given many opportunities to give. Occasionally, a specific class, team or grade might sponsor a fundraiser. We hope the following timeline helps you navigate the major fundraising projects at Summit:
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5%
Who: New Families
Who: All Families
Why: Supports Parents’ Association and special funding areas
Why: Supports operating budget
Why: Supports capital and endowment projects
Why: Supports Parents’ Association and special funding areas
Approximate $ Raised: $25,000
Approximate $ Raised: $300,000
Approximate $ Raised: $75,000
Approximate $ Raised: $100,000
4% 2%
Parents partner with trustees and development staff to raise additional funds for major capital projects like new construction and endowment. Every year, the New Parents’ Capital Campaign is directed by volunteers who themselves are new parents at Summit. No fundraising experience is necessary. The only requirement is that you are willing and enthusiastic about helping Summit achieve our goals. We provide full volunteer training and orientation. To help with Summit’s fundraising efforts, please contact the Development Office at (336) 724-5811.
85%
Revenue Parents’ Association
Tuition and Fees Who: All Families
The Annual Fund is the most important and largest fundraising activity on campus each year. We are proud that in most years, 95-100% of our parents participate in the Annual Fund. Summit relies on parent volunteers to reach out to fellow parents to encourage participation in the Annual Fund. We also appreciate assistance with two phonathon nights each year, when volunteers come to Summit for a two-hour window to call on other parents for participation.
4%
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Who: All Families
Fundraising Volunteer
Summit is committed to prudent financial planning. As an independent school, Summit receives no financial support from federal, state or local governments. The sole sources of revenue are tuition, charitable gifts, income from invested reserves and proceeds from special activities. Like all independent schools, Summit must raise additional funds beyond tuition revenue to balance the budget and provide for the future.
We ask all parents and other constituents to contribute to the Annual Fund at the beginning of every school year and to participate in campaigns that support new facilities, endowment and other capital needs. Parents are also invited to support fundraising events and activities sponsored by our Parents’ Association.
ITI S’ NT CTIV E R PA O N A I T A und CI O r- r o a e SS Y
Volunteer Opportunities
Financial Overview
Auxiliary Programs
The Parents’ Association, an organization of parent volunteers, coordinates activities to benefit our students. The Association, led by officers and committee chairs, enlists other parents’ help and organizes fundraising activities to underwrite special projects for the school.
Endowment Income
Annual Giving
Other
Committees Attractions Value Book Auction Back to School Bash Book Fair Costume Room
5% 9%
10%
10%
Expenses
Parents are encouraged to take an active part in their children’s education. There are many ways to be involved! Parents volunteer in classrooms; attend Parent-Teacher conferences, athletic events, plays and musicals; join the Annual Fund team; take part in Parents’ Association activities and serve as Parent Athletic Liaisons.
Salaries and Benefits
Plant and Operations
School Pictures School Store US Athletic Liaisons Innisbrook Gift Wrap
Parents’ Association Officers 2014-2015 sspa@summitmail.org President..........................Clare Quadland President-Elect ................Kristie Blanco Secretary .........................Shelley Holden
Instructional
Admin/Other
Financial Aid
Library May Frolics New Families PA Office Support Parents' Advisory
Detailed information about each committee and a list of committee chairs can be found at www.summitschool.com > Parents > Parents’ Association
66%
Active Participation
Ea$y Money Gardening Gradeparents Graduation Hospitality
Treasurer......................... Elizabeth Hollan Asst. Treasurer.................Terra Snider Nominating .....................Sarah McAuley
You won’t want to miss attending the following events, and your help to organize them is greatly appreciated:
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Giving Opportunities The Annual Fund To bridge the gap between the actual cost of a Summit education and tuition, the Annual Fund is an essential part of the School’s revenue. Tuition provides approximately 85% of the cost of each child’s education. The Annual Fund provides about 4%. We ask every family to make Summit a philanthropic priority. In the fall, parent volunteers contact Summit families by telephone, mail or in person to request an Annual Fund gift. Pledges are payable by June 30; however, many contribute before December 31 to take advantage of a tax deduction for the current year.
Gift Recognition Annual Fund gifts vary in size, and all gifts are important. Every gift will be recognized in our annual report, Summit Support, and in a giving club. Of course, we respect all wishes for anonymity. Many parents and friends step forward with gifts at the leadership level of $1,000 or more. These leadership gifts are essential to help the School meet the educational needs of the entire community. Summit has several gift clubs to recognize our donors’ generosity. The Bridge the Gap Team is for donors who give at least $2,300, the cost per student beyond tuition.
Gift Clubs 1933 Council Founders’ Society Head’s Circle Scholar Society Honor Society Pioneer Circle
$10,000+ $5,000-$9,999 $3,000-$4,999 $2,000-$2,999 $1,500-$1,999 $1,000-$1,499
Futrell Friends Lewis Legends Adams Architects Summit Supporters
$500-$999 $250-$499 $100-$249 Other gifts
Bridge the Gap Team $2,300
Capital Campaigns/New Parents’ Capital Campaign Periodic capital campaigns raise additional non-operating funds for major efforts like new construction and endowment. These funds enhance and improve facilities, faculty salaries and financial aid. Capital contributions are usually pledged and paid over 3 to 5 years. In addition to the yearly support of Summit’s programs through the Annual Fund, parents have always helped the capital strength of the school. In an effort to involve all parents in improving the school which others built, everyone is asked to make a commitment to add to the school’s capital resources. While we are not currently in a capital campaign, Summit recently conducted the Learning That Lasts Forever Campaign. This campaign has paid for the most recently constructed buildings on campus. New Parents’ Capital Campaign gifts continue to support that effort, which to date has raised over $11 million toward the original $13.5 million goal. We will ask new parents for pledges in January and February. As with the Annual Fund, pledge amounts vary by family. Most parents recognize that the Annual Fund and Capital Campaigns serve different purposes and most parents support both. This campaign will be conducted by parent volunteers; contact the Development Office if you are interested in helping!
Invested Reserves (Endowment) Invested Reserves, also called endowment, help fund the costs of school programs. These funds enable Summit to respond quickly to needs and keep the school innovative. Started in 1959, the endowment has been built by gifts from parents, grandparents, teachers and alums. Summit has the largest per student endowment of NCAIS (North Carolina Association of Independent Schools) schools. The Board’s policy is to spend 5% of a three year rolling average of the value of the endowment for operations. This year endowment income provides $1,142 per child that does not have to be paid by tuition. Gifts to the general endowment fund are always welcome. If you are interested in establishing a permanent, named endowment, please contact the Development Office.
Matching Gifts Matching gifts from your employer are a great way to leverage additional dollars to support Summit. Please check with your company to see if they offer matching gifts – you send us the form and we take care of the rest.
Development Office Frequently Asked Questions and Answers Q: Why does the school ask for a contribution in addition to tuition? A: Summit strives to make tuition competitive but also affordable. The Board sets tuition fees to cover approximately 85% of the educational costs. The gap is closed through gifts, income from invested reserves (endowment) and other sources. This year the gap figure is $2,300. An independent school education requires families to invest in both tuition and philanthropy.
Q: Why doesn’t the Board set tuitions to cover all costs? A: If Summit charged enough in tuitions to operate without an Annual Fund, we’d lose many of our current families and have a less diverse student body. Like all good independent schools, Summit must get extra financial support from its families. The Annual Fund is the best method to attract donations for annual operations. Also, only in the U.S. are the tax laws designed to encourage voluntary support of independent institutions like Summit. No independent school or college can survive on tuition revenue alone. Summit is an incorporated notfor-profit, allowing Annual Fund gifts to be tax deductible. Tuitions, of course, are not tax deductible.
Q: Are Summit’s tuitions high? A: Comparatively speaking, they are not. Comparison of Summit to other major North Carolina independent schools (Charlotte Country Day, Charlotte Latin, Durham Academy, Forsyth Country Day, Providence in Charlotte, and Ravenscroft in Raleigh) shows our tuitions are among the lowest in our peer group.
Q: May I direct my gift to Financial Aid or other specific need? A: Yes. However, unrestricted Annual Fund gifts provide the most flexibility for Summit to meet the budget. Many generous donors have established endowment funds to provide financial assistance and support special initiatives at Summit. Please contact the Development Office if you are interested in funding financial aid or a special project.
Q: How much income comes from Invested Reserve (endowment) Funds? A: This year we’ll be helped by about $707,123 in gifts from our Invested Reserves (endowment) accrued since 1959 from special gifts and bequests. Income from these reserves represents $1,142 per student that does not need to be paid by tuition.
Q: Why is participation so important? A: High levels of participation clearly demonstrate that parents are investing in their children’s future and supporting the school’s mission. Participation indicates to philanthropic foundations and corporations that the Summit community is strong, united and worthy of outside support.
Additional Questions? To make a gift, volunteer or get more information, please call the Development Office at (336) 724-5811. Information can also be found at www.summitschool.com.
Thank you! Thank you for being an important member of the Summit School community and for giving and getting involved.