Tuition at Calverton has continued to rise through the years, making it more and more difficult for an increasing number of families to consider a Calverton education. At most schools, endowment covers a large cost of financial aid to families who qualify. Unfortunately, Calverton's endowment is not sufficient to do that and is not likely to grow large enough in the near future to allow that to happen.
An endowment is money that is invested by the school. A portion of the return on that investment is then used on a yearly basis is order to support that reason for the endowment. While investment returns vary, schools generally count on using about five percent of an endowment's principal for the intended purpose. This preserves the principal and allows the school to continue to make use of the money in perpetuity.
In order to provide $2,500 in income to the school on an annual basis, an endowment of roughly $50,000 would be required. For most of us, that is out of reach.
So we had an idea. If a named endowment of $50,000, generates $2,500, why not give those people who wanted to invest $2,500 in any given year, a leadership annual gift, the opportunity to name something?
This is a wonderful opportunity for individuals, families and groups to support the school in a new and exciting way. While the $2,500 threshold may still be out of reach for individuals, family groups, class groups and even teams can band together to designate a scholar and ensure that deserving students who may not be able to afford a Calverton education will have the opportunity to attend school here.How it works:
1. An individual or group would make a gift to the school of $2,500 to be designated to financial aid.
2. The school would then designate a student a named scholar. Named scholars would be taken from a pool of students who qualify for financial aid and are carrying a grade point average of 3.0 or above.
3. The donor or donors will be informed of the student selected for the scholarship and will get periodic updates throughout the year of the student's progress.
4. A special luncheon to thank donors and introduce them to their scholars will be held during the school year.
For additonal information, contact Trish Brewer in the Development Office.