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Q
How does the Annual Fund work?
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A
The Annual Fund is a yearly fundraising program that provides a critical 8-10% of the school’s operating budget. Every fall, Annual Fund volunteers ask each member of the Oak Knoll adult community, including alumnae, alumni, current parents, parents of graduates, grandparents, faculty, and friends, to participate in this vital program. Our constituents are asked to give as generously as possible before the closing of the Fund on June 30. Gifts to the Annual Fund provide immediate and visible benefits to each of our faculty and students.
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Q
How can I contribute?
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A
Making your gift couldn’t be easier. You can mail your contribution to Oak Knoll School, 44 Blackburn Road, Summit, NJ 07901, attn: Development Office. Or you can call Bea Fagan at 908-522-8105. You can also make an online gift. With your credit card, you can make a one-time gift or a monthly, recurring gift. Gifts of appreciated securities (stocks, bonds, and mutual funds) are also accepted. Please call Barbara Lindner at 908-522-8104 for transfer instructions.
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Q
Does Oak Knoll qualify to receive matching funds from corporations?
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A
Oak Knoll is a not-for-profit 501(c) (3) institution under the Federal Internal Revenue Code and is qualified to receive matching gifts. Over 15,000 corporations in the United States will match employees’ annual donations to independent elementary and secondary schools. Contact your employer’s personnel office to inquire about your company’s matching gift program. You can also check directly with the Council for Advancement and Support of Education to see if you company matches gifts.
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Q
What is the 2009-2010 Annual Fund Goal?
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A
The 2009-2010 Annual Fund goal is to receive $900,000 in donations and have 100 percent current parent participation.
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Q
What are the giving categories?
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A
Oak Knoll recognizes gifts of all sizes. Leadership gifts are the cornerstone of the Oak Knoll Annual Fund. The Founders’ Circle recognizes leadership gifts of $2,500 or more and gifts of $500 or more from young alumnae/i. Matching gifts count towards your Annual Fund giving level.
Founders’ Circle
Grace Society $20,000+
Legacy Society $10,000+
Heritage Society $7,500+
Connelly Society $5,000+
Campion Council $2,500+
Royal Society $500+*
Additional Gift Categories
Dalton Circle $1,000+
Cornelian Club $500+
Society Club $250+
Century Club $100+
Friends Club up to $99+
*(for alumnae/i who have graduated within the past ten years.)
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Q
Can we direct our contribution to a specific purpose?
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A
Yes. You can request that your contribution be directed to the following funds: Community Service, Creative Arts, Athletics, Faculty Development, or Financial Aid. The Annual Fund seeks unrestricted gifts so the administration may have the flexibility of applying gifts where there is the greatest need. Gifts to Annual Fund by families with graduating seniors are automatically directed to the Senior Class Endowment Fund which was established in 1996 and provides yearly support toward financial assistance for Oak Knoll students.
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Q
Why is full participation in the Annual Fund important?
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A
Full participation in the Annual Fund indicates that, regardless of the gift size, everyone is sharing the expense of providing the best possible education for Oak Knoll students. Full participation also sends a positive message to donors, whether they are individuals, foundations or corporations. These donors are often inspired to contribute significantly to the school when Annual Fund participation is strong within the Oak Knoll community.
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Q
Can I make a pledge in the fall and fulfill my commitment in the spring?
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A
Absolutely. If you would like to make an early commitment and make payment in the spring, you can make a pledge now and pay later. This pledge is considered a commitment and means that you will not be solicited for the Annual Fund again. We will send a pledge reminder when your pledge payment is due.
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Q
My company has a United Way campaign. Can I make my gift to Oak Knoll through the United Way?
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A
Yes. Oak Knoll is registered with the United Way, and donations may be directed to us through this organization. Sometimes this process does not unfold smoothly. The United Way is a national network of more than 1,300 locally governed organizations and each local organization has its own process. We thank you for your anticipated patience as we work together to direct United Way donations to Oak Knoll.
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Q
Are gifts to Oak Knoll tax-deductible?
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Yes. Oak Knoll is a not-for-profit, 501 (c) (3) institution under the Federal Internal Revenue Code. Contributions to the school are deductible to the full extent of the law.
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Q
Once an Annual Fund gift is received are there additional requests for the Fund during the year?
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A
No. Once a parent, alumna, or friend contributes, he/she will not be asked for another donation to the Annual Fund during the remainder of the fiscal year (July 1 – June 30). A gift or pledge made in response to a letter or phone call will preclude further Annual Fund mailings or telephone calls. If necessary, a pledge reminder will be sent.
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Q
What size gifts are contributed to the Annual Fund?
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A
Oak Knoll needs and appreciates all gifts to the Annual Fund. Annual contributions range in size from $10 to $25,000 or more. Gifts of $2,500 or more are recognized as leadership contributions, and are necessary to ensure financial stability. All of our constituents are encouraged to give as generously as their financial circumstances allow.
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Q
What was last year’s average current parent gift to the Annual Fund?
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Gifts to the Annual Fund during the 2007-2008 year totaled more than $1.2 million. Current parents contributed 82 percent of that total. The average gift was about $2,500. One-hundred percent participation was achieved by parents of children in kindergarten and grades 1, 3, 4 and 5.
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Q
Why is it important to make an early commitment?
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Annual Fund giving provides for today. The budgeting process for the school year begins a full year in advance. The sooner we know how much the school can budget, the better the school will be able to plan and put your donations to work.
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Q
What is the school’s fiscal year?
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A
Oak Knoll’s fiscal year runs from July 1 until June 30 every year. Annual Fund donations must be received before June 30 to be counted towards that year’s campaign.
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Q
Why is Oak Knoll considered an independent school?
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Unlike public schools or some parochial schools, Oak Knoll does not receive funding from city, state or federal tax revenues, nor from a local parish or diocese. As with all independent schools, Oak Knoll relies on tuition income, interest from endowment and annual charitable contributions to cover operating costs.
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Q
Do other independent schools have annual funds?
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Yes. All independent schools have long relied upon the generosity of its constituencies to subsidize tuition income.