Annual Giving
There are two types of giving to institutions like Miami Union Academy: gifts for annual operating purposes and gifts for long-term capital purposes. Gifts for annual purposes are solicited through the Annual Fund, a campaign driven by parent volunteers each year to help bridge the gap between the cost of a Miami Union Academy education and the tuition charged. Annual Fund gifts range in size from $1 to $25,000 and are typically given from a family’s operating budget while gifts for capital purposes are given from a family’s capital resources. Let’s take a look at what that means.
Every year Miami Union Academy sets its budget for faculty salaries and benefits, utilities, food and supplies for academic and extracurricular programs. Like all non-profit institutions, Miami Union Academy sets its tuition below its actual cost, depending instead upon tax-deductible Annual Fund gifts, endowment earnings and revenues from other programs including summer camp. Typically, tuition covers approximately 85 percent of the actual cost of a Miami Union Academy education leaving the remaining 15 percent to be covered by gifts, endowment earnings and summer camp revenues.
We ask families to think about giving to Miami Union Academy as they would think about their family budgets. Support of the Annual Fund is the lifeblood of giving to Miami Union Academy and a gift each year shows a family’s belief in and understanding of the quality of the education their children are receiving. Just like none of us can afford to stop paying our utility bills, neither can we afford to neglect the Annual Fund – it is that necessary to the continued health of Miami Union Academy.
Led by a stellar group of volunteers, the Miami Union Academy Annual Fund is seeking grow to almost $1.5 million over the next three years which is equivalent to the earnings on about $30 million in endowment. Giving to the Annual Fund helps Miami Union Academy maintain the high level of excellence in education that has been a hallmark of our school for 92 years. We are thankful for the hard work and determination of our Annual Fund volunteers and believe that without them, our success would not be possible.