Annual Fund FAQs

FAQ

What is the Annual Fund?

The Annual Fund is a yearly appeal that generates needed income through charitable gifts from all corners of The Key School community. These gifts support the current operating budget of the School and enhance the day-to-day life of every student and faculty member. Annual Fund monies are raised and spent in the same fiscal year.

How does Key use the money raised from charitable gifts to the Annual Fund?

Contributions to the Annual Fund provide necessary funding to support the School’s exceptional academic programs, as well as fine and performing arts, athletics, and outdoor education. In addition, it allows teachers access to professional development opportunities and supports the technology, equipment, and supplies needed in classrooms, labs, and libraries throughout the entire School.

Why does Key request a charitable contribution from my family when I already pay tuition?

The cost of an independent school education is such that tuition and fees do not cover the total cost of educating each student. The Annual Fund subsidizes tuition income to meet the School’s operating needs. Key looks to charitable contributions to bridge the gap between tuition income and the actual cost of operating the School. In fact, 91% of the School’s income is garnered through tuition – a much higher dependency on tuition compared to our peer institutions. Being this heavily dependent on tuition income means that fluctuations in enrollment from year to year could have an immediate effect on the viability of the School. Only through increased income from other sources, such as philanthropic support, can Key maintain its competitive tuition levels and sustain a healthy foundation for the future. At Key, we believe that raising tuition to cover all educational costs would exclude many capable students who contribute to the vitality of the School. By asking for contributions from our entire Key School community, every student ultimately benefits.

Who is asked to support the Annual Fund?

Each year Key asks all members of our community—Trustees, parents, alumni, past parents, grandparents, faculty and staff, past Trustees, foundations and corporations, and friends—to consider making a tax-deductible gift to the Annual Fund. Members of The Key School community contribute voluntarily to the School for a variety of reasons. Some make a gift because of their respect for Key’s exceptional curriculum and faculty. Others simply wish to show their gratitude for the excellent education that the School offers their child.

How and when will I be asked to participate in the Annual Fund?

Our Annual Fund campaign begins in the fall and gifts are solicited on a fiscal-year cycle running from July 1st through June 30th of each year. Parents, grandparents, alumni, students, and other committed volunteers contact their peers through direct mail, phonathons, personal conversations, and email contacts throughout the year. When you are contacted by a volunteer we hope that you will take a moment to listen to the information that they provide for you about the important needs of Key and the significant ways in which your gift will make a difference. Your gift or pledge made early in the Annual Fund campaign is very much appreciated.

What is the difference between the Annual Fund and the Endowment?

To put it simply, the Annual Fund is much like your checking account and is used to meet the School’s current operational costs. The school’s budget relies on Annual Fund gifts to meet its same year expenses. The Endowment is vital in securing the future of the School and is similar to a long-term savings account. Gifts to the Endowment are placed into an investment account and eventually a fixed percentage of the fund will be used annually to support the operating budget.

What size gift would make a difference to the School?

Only you can decide on the amount of your gift; however, your participation is critical. We hope that all members of the Key community will participate every year in the Annual Fund to the level that they are able. Each gift, combined with the gifts of others, makes an immediate impact on the life of today’s students. Since Key’s potential donor pool is relatively small, and our desire to maintain the highest standards of education and our need for financial support is large, every gift truly matters. Through giving, donors are able to demonstrate their support for Key School and its Mission. We ask that you make giving to Key a charitable priority. While gifts differ in size, each gift has the same impact on participation.

What are my options for making a gift?

A gift to the Annual Fund will not only support the excellence of the School’s programs but may also provide a tax-deductible incentive to the donor. Gifts can be made by cash, check or credit card contributions, matching gifts, stocks and securities, or through contributions to the Combined Federal Campaign or the United Way. To make a gift, contact the Advancement Office at 410-263-9231 or go to Giving to Key to make a gift online.

Would the School benefit from my company’s Matching Gift Program?

An employer-matched gift is a perfect way to double or even triple your gift. When considering a gift to Key, consult with your employer, and, if applicable, forward the completed matching gift form to the Advancement Office along with your contribution.

The Annual Fund as a Percentage of Revenue

Tuition and fees 90.8%
Ancillary programs 3.50%
Philanthropy 4.41%
Other income 1.26%

The Annual Fund is critical to Key’s annual operating budget. 71 cents of every dollar raised supports faculty and staff salaries and benefits. The other 29 cents provides support for academic programs and campus facilities.