Questions and Answers about the Annual Fund
Q: Is 100% parent and community participation that important?
A: YES! 100% participation in the Annual Fund is as important as meeting our overall financial goal. Before outside funding sources, such as foundations, will consider donating their dollars to Seton Catholic School, they want to know that Seton families, faculty, and staff are supporters as well. After all, if the people who directly benefit are not willing to support the school, why should an outsider? With the increasingly competitive market in Northeast Ohio, a high percentage of participation in the Annual Fund is extremely important. For that reason, every gift counts. Your contribution to the Seton 2011-2012 Annual Fund makes a powerful statement to foundations and outside donors who look for strong participation from the school community as they make giving decisions.
Q: Why not run the school like a business and charge the full cost for the services provided rather than asking for gifts? Why doesn't Seton Catholic School just raise tuition to cover the additional expenses?
A: A school, whose primary mission is to provide children with a good education, cannot be compared to a business, whose primary mission is to make money. By their very nature, excellent schools are labor-intensive and people-oriented. Moreover, the costs of faculty salaries and benefits and building/maintenance, to a large degree, drive the cost of an independent school education. In order to offer competitive salaries to faculty and staff and to provide desirable programs, Seton has to do the following:
- raise tuition;
- offer enrichment and specialized programs, extended day care, hot lunches, and extracurricular activities;
- pursue corporate and foundation gifts; and
- ask you for a gift.
We do not want the expense of tuition to prohibit qualified students from attending our school. It is especially important that tuition remain as affordable as possible in order to serve all families choosing a Catholic education. As a result, we must work hard to keep tuition costs down so that the school remains affordable to as many families as possible.
Making Your Donation
Q: I have no idea how much to contribute – what is the suggested donation level?
A: Seton Catholic School has a limited donor base compared to a university or a large charity, or even a larger, well-established independent school. Each gift to Seton counts more because the need is large but the number who will give is small. As a result, we hope that Seton families will choose to make their children's school their philanthropic priority.
Q: I want to make a sizeable contribution. Is it possible to spread it out over time?
A: To make a donation that spreads over several months, we ask that you fill out the Annual Fund Commitment Form, including on it the total amount you wish to donate for this year and the increments in which you wish to make your donation. Payment options include check, MasterCard, or Visa. We can also send reminders at intervals that work best for you.
Q: Will I receive a tax benefit from my donation?
A: Yes. Seton Catholic School is a registered 501(c)(3) nonprofit corporation under the laws of the United States. No goods or services will be received in exchange for your gift, so it will be tax deductible to the full extent allowed by law. Written recognition of your gift will be provided for tax purposes. (Note that the amount donated is tax-deductible in the year in which it is deposited by Seton Catholic School.)
Q: Is there anything I can do to encourage my employer to contribute to the school?
A: Yes. Many employers offer matching gift programs. In some cases, gifts from spouses, directors, and retired employees will be matched as well. Please take the time to determine whether your employer offers such a program – it could serve to double your donation! Do not hesitate to ask the school for whatever documentation you might need in order to facilitate a matching gift.
Q: Is it possible to make a memorial or “in honor of” gift?
A: Memorial gifts – a gift in memory of someone you loved or admired – is a particularly meaningful way to contribute to Seton's Annual Fund. Establishing a family endowment fund, remembering parents, is a forever gift. Such an endowment would assist future generations of Seton students and make a Catholic education possible for deserving children who otherwise would not be able to attend Seton Catholic School. “In honor of” gifts for all occasions (a student's birthday or parents' anniversary, for example) are also lasting tributes.
Q: What other options are available for supporting the school?
A: The general rule in the not for profit world is that everyone with an interest in the organization should contribute at least one of the so-called "Three T's" – Time, Talent or Treasure. Undoubtedly, each of us can contribute to the school in one or more of these areas, each of which is essential to the success of the school. However, please note that it is still extremely important that we have 100% participation in the Annual Fund.
Some other ways to help Seton include:
- Gifts of Securities: Gifts of appreciated securities can represent a two-fold tax saving opportunity because donors may avoid paying any capital gains tax on the increased value of the stock;
- Planned Giving & Bequests: There are many ways you can help the school through planned giving-options include bequests, annuities, and trusts, to name just a few;
- IRA Charitable Rollover: IRA owners beginning at age 70½ are permitted to make outright charitable gifts totaling up to $100,000 per year from their IRAs directly to eligible charities. The donor does not have to report the distribution as taxable income. Consult with your financial advisor for further information.
- In-Kind Gifts: Certain types of in-kind gifts may be extremely useful to the school;
- Building Outside Support for Seton: Spread the word about Seton! Be an advocate for the school! Ask your family, friends and employers to make donations, or simply make an introduction to the school. (In particular, many grandparents of Seton students continue to be generous supporters of the school); and
- Volunteer: If you see a need that you can help fill, don't hesitate to speak up and let us know on the Commitment Form.
If you have additional questions or concerns, please feel free to contact Bill Cushwa in the Development Office at (330) 342-4200, ext. 232, or cushwab@setoncatholicschool.org.