What is an annual giving program or annual fund?
The annual giving fund is a program that raises funds for, anywhere from 10 to 30 percent of the school’s yearly operating budget. Annual giving refers to gifts that are renewed by the donor each year, or which are made yearly as part of a multi-year pledge arranged between the donor and the school.
Why does an annual giving program exist?
Tuition and fees do not cover the full cost of education. Annual giving exists to close that gap. TWS does not charge exactly what it costs to educate an individual student, and annual giving programs exist in part to help keep tuition lower than it might otherwise be.
How is the annual fund used in schools?
Annual funds are used in general to cover operational expenses including, but not limited to,faculty professional development, academic resources and supplies, yearly facilities improvements, equipment and technology purchases, and co-curricular expenses. In many if not most cases, the annual fund also provides financial aid and scholarships for families.