What is the Current Parents' Fund?
The Current Parents' Fund is that portion of the Annual Fund that seeks gifts
from parents of current students. It is conducted by members of the Parents'
Committee, a group of approximately 70 volunteer families. The Parents' Fund at
Taft is one of the leading campaigns of its kind in the country and for years has been
the standard-bearer for parent giving among our nation's independent secondary
boarding schools. Last year, the Parents' Fund contributed 46 percent to the overall Annual Fund.
The Annual Fund is a yearly fund-raising effort designed to help the school
balance its annual operating budget. The fund is conducted by the Development
Office in coordination with Taft alumni and parent volunteers who seek to raise
gifts from the school constituency, including alumni, current parents, past
parents, grandparents and friends. Last year's Annual Fund raised $3.4 million
dollars, representing 11 percent of the school's total operating budget.
Where do Annual Fund dollars go?
Contributions to the Annual Fund go directly into the current operating budget,
which supports not only the academic program at Taft, but also its library,
athletic, arts, extracurricular and financial-aid programs. The strength of
Taft's Annual Fund has helped the school to balance its budget for the past 36
years.
Why is the Annual Fund necessary to balance the budget?
Tuition alone will not cover the school's $32.4 million dollar operating budget.
In fact, Taft's 2008-09 tuition fees will cover only 70 percent of the actual
cost of educating its students. Operating expenses will exceed tuition income by
$16,873 per student. This $9.7 million deficit must be made up by other sources
of funding, including endowment income and Annual Fund contributions. In this
respect, Taft's current students are the most direct and immediate beneficiaries
of all Annual Fund gifts.
Why is the Parents' Fund important?
The quality of parent support at Taft not only serves to enhance the lives of
each student in a direct and immediate way but is also one of the school's most
impressive credentials. Last year, 90 percent of Taft parents
joined in raising $1,397,922! The ringing endorsement of its parent body has become Taft's special
trademark and is a critical factor in enabling the school to compete on every
level with the most highly endowed schools in the nation.
Please join your fellow Taft parents in making a gift to the Parents'
Fund. Pledges are welcome but must be honored by June 30, 2009, when the
Parents' Fund officially ends. Remember that your gift can be doubled if you or
your spouse is associated with a company or
foundation that matches gifts to secondary schools.
Please enter our secure site and join your fellow Taft parents in
making a gift to the 2009-10 Parents' Fund. If you have any questions, please
contact Amy Gorman, Parents' Fund Director, at 1-800-959-8238. Thank you!
By discontinuing the printing and mailing of 10,000 copies of the Annual Donor Report, we will save trees and help decrease our landfills, as well as save thousands of dollars that can be better used to support Taft's mission of educating the whole student. To protect the privacy of our donors, a password was mailed on October 15 to alumni, parents and friends of the school.
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