Ten years ago, the tradition of the 8th Grade Gift was started. Parents of graduating eighth graders worked together to give the school something to honor their children's experience. As Chapin has left an indelible mark on our children, we too, desire to leave an enduring legacy.
Just for eighth graders, Chapin integrates into the curriculum targeted experiential activities. We are sure you have heard of a few: Camp Mason for three days, seeing Wicked on Broadway, Project Use, and now, building canoes. These activities total $50,000 in the annual operating budget. Understanding the importance of these activities for our children and for the future, we are establishing the Eighth Grade Legacy Endowment.
An endowment fund is set up for a particular purpose and only the income is used. We will be the first class to contribute to this endowment. As successive classes contribute, the principal will continue to grow and yield income, a portion of which will be used toward supporting these unique experiences. A plaque will be hung in the school and each class will have their class year added to honor their contribution.
While giving to the Eighth Grade Legacy Endowment Fund is for the future, we still share a responsibility to support today and ask you to continue supporting the Chapin Fund. We are the recipients of the generosity of the Chapin community that came before us, and now it is our turn to secure Chapin for today and tomorrow.
Chapin Fund and Endowment Giving
The Chapin Fund (annual giving) helps ensure Chapin is strong for each year, while the endowment builds a strong foundation for coming years.
Why does the school need annual and endowment funding?
The school's annual budget depends on three sources of giving: annual, capital, and endowment. Think of it in comparison to your own needs:
Income for day-to-day: annual giving and tuition
Housing: Chapin must pay to maintain its 14.5 acre campus and approximately 90,000 square feet of facilities.
Savings and investments: intended to last.
What is an endowment?
The endowment is a dedicated and permanent source of funding that maintains the mission of the school. The amount donated (the principal) is invested and the annual income (interest and/or dividends) is available for program.
How are the endowment funds managed?
When you give to an endowment, the school invests your gifts as part of its overall endowment portfolio. Each year, a portion of the value of the endowment fund is paid out to support the fund's purpose (in this case, to help the 8th grade activities).Read More