Bancroft School is a registered non-profit organization and holds 501(c)(3) status in accordance with state and federal laws. Like other non-profit organizations, independent schools rely on charitable contributions from the communities they serve, both present and past, to offset costs not covered by tuition. Each year Bancroft asks members of our community, including trustees, alumni, current and past parents, grandparents, faculty and friends, to support the ongoing operations of our School with a contribution to the Bancroft Fund. The Bancroft Fund presently supports roughly three percent of the School’s operating budget. Our goal each year is to surpass $400,000.
The majority of our operating budget is directed in support of the academic program, such as teacher salaries, department and program expenses, the libraries and athletics, student support services and activities. Other areas of the budget include administrative costs such as staff salaries, printing, postage, equipment, utilities, financial aid, health and dining services, and maintenance of our campus and buildings. Gifts to the Bancroft Fund support each of these areas.
In keeping with our long tradition of coming together as a community in support of our School, the Bancroft Fund provides a voluntary means by which we help maintain the experience of excellence that everyone wants and expects for our students. Without the resources provided by the Bancroft Fund, tuition would need to increase approximately $805 per student. Tuition increases are not tax deductible, but charitable donations are.
Bancroft’s financial strength is dependent upon the participation of our community. Your participation generates enthusiasm and encourages others to join you in supporting the School. It is also a key indicator to foundation and corporate donors, as well as accrediting agencies such as NEASC, that we have consistent support from those we serve, both past and present.
While we encourage everyone to make as generous a gift as they can in keeping with their personal circumstances, the Bancroft Fund is a community effort where each gift and everyone’s participation truly makes a difference. The only gift that is too small is no gift at all.
Bancroft welcomes gifts of common stock. Through various transfer mechanisms, donors are able to make a gift directly to Bancroft without having to sell their stock. They not only avoid tax on any capital gain, but they may be eligible to claim a charitable contribution for tax purposes based on the fair market value of the stock. Please contact the Development Office if you would like more information about gifts of stock or wire transfer instructions.
To promote charitable giving many companies sponsor Matching Gift programs and will match most charitable contributions made by their employees to nonprofit organizations. (Some companies match gifts made by retirees and/or spouses too.) Contact your personnel or human resources department to find out if your company has a matching gift program and process information.