Thanks to the past and present contributions of time, talent, and financial support given to the school by parents, trustees, grandparents, corporations and foundations, faculty and staff members, and friends, St. Clement’s School is able to provide a sound preparatory foundation of knowledge that our students can build on as they continue their education at higher levels. Like most independent schools around the country, St. Clement’s School operates without financial support from local, state or federal taxing entities. Funds needed to sustain and advance the school’s programs come from many gift sources. Here are some frequently asked questions about the major types of gifts, beyond the annual gift, that are essential to our school's future.
Why Have a Capital Campaign?
Tuition dollars support annual operating expenses, but not asset-building needs for our School. Therefore, from time to time, we raise funds specifically to purchase land, build new facilities or renovate existing buildings on campus, acquire furnishings and equipment for those buildings, and add to endowment. Funds raised through our recent Cornerstone Capital Campaign were used to add and furnish a new building, the Center for Excellence, to renovate some of the older facilities on campus, and to increase our endowment.
What are Endowment Funds?
Endowment funds are similar to savings accounts or other financial assets, which generate income through wise investments of principal. The Board of Trustees Finance Committee diligently oversees the St. Clement's Parish School Endowment Fund. Part of the income from the endowment provides cash toward annual operating expenses. Ideally, income from a growing endowment both assists the annual operating budget and ensures the school's long-term ability to sustain and expand its programs.
Why Make a Planned Gift?
St. Clement’s School has a Planned Giving program and accepts gifts of bequests, life insurance, charitable remainder trusts, charitable lead trusts, retirement fund assets, charitable gift annuities and real estate. Planned gifts are generally made from assets rather than income and entail some financial planning. They are often larger than outright gifts because they are made when the donor no longer needs those assets. Frequently a planned gift results in substantial tax savings by reducing income, capital gain, and/or estate taxes. The Board of Trustees Finance Committee will be glad to answer questions about structuring a planned gift that best meets your objectives. Please consult your financial advisor for tax advice.
How Do Endowments Work?
Suppose a donor makes a gift of $100,000 to endow a favorite program. The funds are invested and, in the first year, earn 10 percent interest. Half of the earnings ($5,000) are available to spend on the chosen program; the remaining $5,000 is reinvested in the endowment, raising the principal to $105,000. The following year it earns 10 percent interest, which this time will be $10,500, half of which can be spent while the remainder is invested. Through wisely chosen investments, endowment interests are gifts that keep on giving.
In summary, St. Clement's School appreciates every gift, large or small. The Administration and Board of Trustees pledge good and efficient stewardship of all gifts to the school. Please consider an annual gift, a planned gift, a memorial and/or honorarium gift, as you plan your charitable giving for the upcoming year.
Your contributions make a difference! Thank you for your support. Please use our online form, or mail your donation to:
St. Clement's Parish School
Office of Advancement
El Paso, TX