Every year, we need to raise money to help fund the budget. There are many ways to support Wellington – from the basics of utilities, books, and salaries to transformational investments such as new buildings.
It’s a simple fact that tuition revenue does not cover the full cost of education – from teacher salaries to book purchases to building maintenance to financial aid – we spend more than the cost of admission. Every year we seek to raise money to fund the budget. This is the Wellington Annual Fund
. Think of this as our checking account – it’s how we pay the bills.
The checking account is great for ongoing expenses, but sometimes we need to fund bigger initiatives, such as new facilities. In our personal lives, we dip into our savings account to meet needs like this. At Wellington, your charitable contribution of capital may help us construct a building, a wing, or an athletic facility.
This is our savings account – the money set aside for long term financial stability. Schools build endowments by agreeing to hold a donor’s gift in permanent investment and to spend only a portion of its annual income. Endowments provide an important stream of annual income over time, while also providing a reserve of assets (your invested gifts) that can help the institution weather tough economic times. Endowed funds are often established to fund programs, such as financial aid or academic initiatives.
From time to time, there are special opportunities that arise -- sometimes at the school’s initiative and sometimes at the donor’s initiative -- to fund specific programs or learning opportunities. Your restricted gift can support any number of opportunities that fall outside of the regular operating budget.