It is important that every member of our school family participate in periodic capital campaigns while also making a gift each year to Mill Springs' Annual Fund. Below are some frequently asked questions about the difference between Annual and Capital giving and the importance of giving to both.
Q. What is the difference between annual gifts and capital gifts?
A. To MSA, the Annual Fund is similar to your own checking account and is used for general operating expenses such as heating and lighting. The Annual Fund is also used to enhance our schools curriculum (i.e.: the Fine Arts and programs) and enables the school to attract outstanding teachers and slow the rate of tuition growth. Each year the funds collected are used during the school year in which they were donated and are critical to maintaining the daily operations of the school.
In contrast, capital gifts are similar to your savings account and are used for special building projects which do not fall into the annual budget (i.e.: the building of classroom facilities or other major expenses such as the need for a new roof). Typically capital gifts are significantly larger in amount than annual fund donations and most often involve consulting one's spouse, accountant, or financial planner. Due to the size of capital gifts, they are usually paid out over a period of three to five years.
Q. Is my gift important?
A. Yes. Participation in MSA's Annual Fund as well as periodic Capital Campaigns is critical. Due to the economic diversity of our school family, we promote a "fair share" giving approach. We place equal emphasis on donor participation but ask those who can, to give more.
Foundations and individuals making large donations or giving ongoing financial support look to see that 100% of our school family supports our annual and capital projects. In some years, we ask every family to make a gift to the Capital Campaign as well as the Annual Fund. Gifts to a capital campaign can be pledged and paid out over a three-year period. Gifts to the Annual Fund need to be paid in full by June 30 of the school year in which they are made.
Q. How often will be asked to give?
A. Each year, every member of the MSA community (parents, teachers, alumni, grandparents, Board of Trustees, etc.) is asked to make a gift to the Annual Fund. It is the regularity and the consistency of these gifts that makes them so imortant to the bottom line of Mill Springs Academy.
Q. What are MSA's Annual Fund and Capital Campaign Goals?
A. The goal for our 2009-2010 Annual Fund is to raise $250,000; as well as receive 100% participation from our School Family (parents, faculty/staff and Board of Trustees). The Annual Fund begins on the first day of school in August of 2009 and will run until June 30, 2010.
Mill Springs is not currently in a capital campaign. However, if you would like to make a gift to assist us in retiring the short-term debt incurred in our last capital project, or if you would like to make a gift that is designated towards our next capital project, please contact the Development Office at 770-360-1336.