The EAC Fund: supplemental funds that guarantee an exceptional education.
Why do we have the EAC Fund?
The EAC Fund is the name of our Annual Fund. Every year we look to our trustees, parents, alumni, past parents, grandparents, foundations, and corporations for this essential tax-deductible support. The accumulated funds are then used on a discretionary basis to maximize each student’s experience. It also allows us to react to the needs of the school not covered in our annual operating expenses.
Why does the school ask us for contributions in addition to what we already pay for tuition?
The Elizabeth Ann Clune Montessori School of Ithaca is different. We take a very conservative approach to ensure that our critical operating expenses (salaries, utilities, benefits, maintenance, etc.) are all covered by tuition. The EAC Fund is used for continuous improvement in facilities, professional development, technology enhancements, and increased tuition assistance. It also ensures our long term stability by building up our cash reserves needed to cover unexpected expenses and small renovations. All these contributions are needed to provide our children with the best environment possible.
Annual Funds are common practice among independent schools. From pre-schools to colleges, independent schools all use annual fund donations to help compensate for expenses not covered by tuition. In fact, most of these schools operate on a tuition gap basis where the tuition is 10 to 25% less than total expenses. They depend entirely upon their annual funds to cover the gap for budgeted expenses.
Is my gift tax deductible?
Yes. EACMSI is a non-profit organization. All gifts made to the school are tax-deductible. The EACMSI EIN Number is 16 – 1132505.
How much should I give?
Gifts of every size are gratefully appreciated. Only you can determine the amount that is right for you and participation is more important than the amount. An investment in EACMSI is one that will pay life-time dividends for your children, your community and for future generations. Every gift matters.
Who organizes the EAC Fund?
This effort is driven by our Administration, Board and Director of Marketing. Gifts are solicited by the Annual Fund Chair people who write letters and work in collaboration with the administration and board, ensuring that 100% of all gifts received go directly to the school.
Who contributes to the EAC fund?
Our faculty, board, parents, grandparents, alumni and community members all contribute to the Annual Fund. Our donors connect with our mission and understand the importance of a soundly governed and financially healthy institution. We truly appreciate every gift in every amount.
How can I contribute?
There are many ways to support EACMSI. You can donate by cash, check, credit card, or online through paypal. You may also donate stocks or consider making a gift in someone else’s honor or in memory of a loved one. Many donors take advantage of their employers’ matching gift program, which may double their gift to the school.