Why are contributions to the Hackley Fund important? Doesn’t tuition cover the cost of my child’s education?
There is a gap between the tuition dollars the school receives and the actual costs of operating the institution. At Hackley, tuition and fees cover approximately 84% of our annual operating costs. Hackley is not unique in this regard. Most independent schools seek to limit tuition costs and bridge the resulting budget gap with philanthropy. Hackley’s gap, after tuition dollars and endowment income are accounted for, is $8,128 in FY 2024.
Why don’t you raise tuition to cover the full cost of educating each child?
A revenue model that relies on both tuition and philanthropy enables us to keep tuition costs lower, making Hackley accessible to a broader range of families, and allows families to support the school with tax deductible charitable gifts, rather than tuition alone. Tuition is not tax deductible while charitable contributions are.
How much should I give?
Gifts of any size are appreciated and make an impact. Hackley Fund gifts range from $5 to $50,000+. We only ask that you consider giving as generously as you are able. Participation is more important than the amount you give, and every gift counts equally when it comes to participation.
Why does my participation matter?
- Participation reflects parent confidence and commitment to Hackley.
- Hackley alumni view parent participation as a marker of how the school is doing today.
- Annual gifts help cover critical operating costs and fund over 7% of our annual budget.
- Participation is a key measure of our School's financial health.
Should I make a gift to the Hackley Fund every year?
We ask every member of our community to participate in the Hackley Fund every year because the Fund provides more than 7% of our yearly operating budget.
Who do you solicit for the Hackley Fund?
In the spirit of “United, we help one another,” we ask everyone in our community to participate: parents, alumni, parents of alumni, grandparents, faculty and staff.
If I have multiple kids at Hackley, do I have to make a gift for each child to the Hackley Fund?
No! One gift per family counts as participation in the Hackley Fund. So, if you have a child in tenth grade and eighth grade, your gift would count for participation in each grade.
Are gifts to Hackley tax deductible?
Hackley School is an exempt organization as described in section 501 (c) 3 of the Internal Revenue Code, and gifts are tax deductible to the fullest extent of the law. Gifts of appreciated stock may offer additional tax benefits. Donors will receive an acknowledgment and receipt for their taxes.
Can I give to Hackley’s endowment?
The endowment provides resources — in perpetuity — for the people and programs that make Hackley unique. The funds are invested, and a board-determined percentage of the endowment income is spent each year. If you would like to learn more about making an endowment gift, we would welcome a conversation with you.
We ask those supporting the endowment to continue giving to the Hackley Fund, as well, due to its critical importance to the School.
What are the Hackley giving club levels?
Frances Hackley Society
Sarah Goodhue Society
Walter Gage Society
Hale Tower Associates
Black & Grey Associates
$499 and below
(Alumni who graduated within the past 10 years)
Have additional questions?
We’re happy to help! Please contact Katy Ritz at Kritz@hackleyschool.org
or at 914-366-2631 or any member of the Advancement Team.