Q: What is the difference between an annual fund and capital campaign?

A:  The Academy of St. Benedict the African is a fully accredited Catholic elementary school within the Archdiocese of Chicago; as such, its academic programs operate without financial support from local, state, or federal taxes. The academy relies on three primary sources of income to operate: tuition income, endowment income, and fund-raising activities such as the Annual Fund. The Annual Fund covers the gap between tuition revenues and operational expenses, and significantly effects teacher salaries, educational materials, financial aid, and special programs. Whereas, the capital campaign is an organized drive to collect and accumulate substantial funds to finance major needs of the Academy of St. Benedict, such as building renovations at both campuses, and an endowment fund.

Q: How much should I give?

A: Each family is required to donate a minimum of $250 to the annual fund. This amount is usually generated through the participation of the candy sales, our Winter raffle, and/or the Spring walk-a-thon. The Annual Fund is tax-deductible, so we encourage parents, alumni, faculty, and friends to support our new and existing programs. While $250 is the minimum contribution, the Academy has no set maximum.  Over the last couple years the Annual Fund goals have not increased, however the costs associated with educating our students has; we ask that our families and friends make that consideration and donate gifts that reflect the Annual Fund goals.

Q: Which fundraising programs support the Annual Fund?

A: The Annual fund is supported by three main programs occurring seasonally: the fall/ spring candy sales, winter raffle, and spring walk-a- thon.

Q: Is the Academy of St. Benedict eligible for matching gifts from my employer?

A: Matching gifts are often available through employers' matching gift programs. Your company's Human Resources Department can help you determine if your employer matches gifts to the Academy of St. Benedict. Typically, donors must initiate the matching gift by submitting an organization's matching gift form with their donation.

Q: What additional ways can I support the Academy of St. Benedict the African?

A: The Academy of St. Benedict has a variety of ways to receive support from friends and family. Our students create unique gifts that can be purchased at http://www.cafepress.com/asba1.

Also, the Academy has an ongoing recycling fundraiser with Ecophones; at anytime, you can donate an old/ used cell phones and ink cartridges.

Q: What is an endowment?

A: The Academy of St. Benedict’s endowment is a savings account that enables the school to build income for the long-term benefits.

Q: What is Planned Giving?

A: Planned giving is a process by which a donor considers the effect of his or her charitable gift on both the charity and his or her estate. A planned gift might be as simple as remembering The Academy of St. Benedict in your will or establishing an annuity or trust that provides particular financial benefits to the donor as well as The Academy of St. Benedict.