Support B.S. School on May 5th

by Christopher Kelly, Principal of Blessed Sacrament School

 

Dear Parents and Supporters,

 

It's never been more critical to end our fiscal year strongly. During the unprecedented and unpredictable crisis we are facing due to the Covid-19 pandemic, our community remains strong, resilient and optimistic. However, I want to share with you some fiscal realities we are facing and call your attention to our fundraising efforts with #GivingTuesdayNow.

 

Each year, we budget for tuition to cover most of the cost of educating each child. However, tuition never covers the full amount. On average, the difference is $1,000 per student that we must make up each year through fundraising. We are experiencing an increase in the number of requests for tuition assistance and anticipate this number to grow.

 

The primary cost in any school budget is salaries. Thus far, we have been able to avoid furloughing employees. We have made as many expense reductions as possible during this time of uncertainty. For example, our utility bills are down. Yet, the cost reductions don't counterbalance the reduction in income.
We are facing reduced income from several other revenue sources. Generally, we would receive modest income from the lunch and after-care programs. We rely on the parish Smyth Endowment Fund which has taken a big hit in the past two months. We also receive additional funding from the Home and School Association which has had to indefinitely postpone the spring sign-up parties. All of these revenue streams have been negatively impacted by the closing of the school building.

 

The last piece to the school budget picture is Annual Fund. We target an attainable number every year that is a critical part of a balanced budget. While we recognize that we will not recoup some of our other losses this year, we are still aiming for the Annual Fund target that was previously established. Reaching this target will enable us to approach next year on stable financial ground. We are looking at freezing tuition for a year to help families who may be struggling. We are also looking at additional financial aid sources for those who may need a year or two of support to continue at Blessed Sacrament.

 

There is a second Giving Tuesday next week on May 5. #GivingTuesday has firmly taken root as a global day of philanthropy. We will be actively promoting it to support Annual Fund. We understand that some of you are facing financial strains. However, there are others who have specifically asked for opportunities to support the school. Please contribute on this planned day of giving, if you can do so comfortably.

 

We want all of our current BSS families to return next year - even if they are struggling to pay tuition. So, why would we ask for contributions to Annual Fund rather than to tuition assistance? Gifts for tuition assistance are restricted - meaning we would not be able to utilize funds for other needs, like salaries and educational materials. Due to the strong efforts this past March of the HSA, the Benefit Benefactor Fund (aka: Sister Rose Fund) is solid and contains restricted funds for the purpose of tuition assistance. We know how comforting it is to make a restricted monetary gift and know exactly where your money is going.

 

Please trust us to put your money toward the greatest need (which could also include tuition assistance) by allowing us maximum flexibility to balance our budget via Annual Fund. All contributions of any amount will go a long way toward approaching next school year with a continued healthy financial foundation. If you have the ability to give and have not done so already, we would appreciate you considering a gift on May 5, Giving Tuesday.

 

Faithfully,
Christopher Kelly
Principal of Blessed Sacrament School