What is the Derby Fund?
Each year the School, with assistance from the Development Committee (made up of members of the Board of Trustees), seeks unrestricted current-use funds to supplement the School’s operating budget for the School’s fiscal year, July 1 – June 30.
The Derby Fund provides essential support for the on-going operations of the School not covered by tuition; it is the premium that insures the extraordinary quality of education provided to our children. A strong Derby Fund also provides the School the flexibility and nimbleness to meet specific needs and opportunities as they present themselves. All gifts of cash or securities are tax deductible to the fullest extent of the law. Derby Fund gifts are acknowledged in writing and recognized in the Annual Report of Philanthropy.
We ask all members of our community to participate in the School’s Derby Fund drive. Last year, 94% of Derby families, 99% of Faculty and Staff, 100% of Trustees and over 300 Alumni/ae made gifts to the Annual Fund.
Does the Parents Association raise funds?
The Parents Association puts the fun in fundraising. Their efforts support a most worthwhile program of activities. The Parents Association’s only fundraiser is the Fall Fair. Each year during the holidays, the PA also collects money for the Faculty Appreciation Fund in lieu of parents giving holiday gifts directly to the teachers.
Does the School also hold annual fundraising events?
Yes, the School currently holds one major fundraising event each year—typically in the spring. These events are focused on providing “extra” funding to a particular project or initiative. In the spring of 2017, the School held a Benefit Auction that raised $221,000 towards renovating indoor common spaces. This funding helped transform the Lower School Library and Upper School Science Center. In 2018, the School raised $75,000 through the Golf and Tennis Tournament. These proceeds went towards improving outdoor common space, and particularly the terraced hill overlooking Gleason Memorial Field. This spring (2019) the School has a Scholarship dinner planned that will raise much needed funds for financial aid and scholarships. We plan to maintain this three-year model moving forward: Year 1—Benefit Auction, Year 2—Golf and Tennis Tournament, Year 3—Fundraising Dinner (see Scholarship Dinner below).
What is the May 17 Scholarship Dinner?
Derby Academy is embarking on a program to enhance its commitment to provide financial aid scholarships across a broad socioeconomic spectrum. On the evening of May 17, the School will host the first of a series of events that will raise awareness and funding for scholarship support, as well as share a vision for the financial aid program over the next three to five years. Proceeds from the event will be used in one of three ways.Current-Use Support:
The net profit from the event (ticket sales, sponsorships, and pledge cards) as well as annual giving gifts earmarked for financial aid, will be put to immediate use for the 2019-2020 school year. Funds will be used to bolster our $1.1MM financial aid budget and help cover all the “extras” that tuition does not cover. This may include school field trips, transportation, technology, athletic gear, and music instruments for qualified students and families.Endowment
: Multi-year commitments to scholarship support will be added to the general endowment for financial aid. Once established, an endowed fund provides the School with income directed to scholarship in perpetuity, supporting deserving students for generations to come. These funds make a lasting difference in the lives of the students, as a Derby education will open doors for them they may never have imagined. Donors who wish to set up a named endowment fund, may contact Paul Mountcastle, Director of Development at (781) 749-0746 ext. 125.
: Established in 2017, the Empowerment Fund is a multi-year full tuition designated to a specific student until graduation. The School currently has four (4) Empowerment Fund scholarship recipients.
All in the Derby community are invited. The dinner does, however, have limited seating. If you would like to learn more, or attend and support the event, please click here
or contact Jami Gregory at firstname.lastname@example.org or (781)-749-0746 x161.
What is a capital campaign or a focused fundraising initiative?
Unlike Annual Funds, which run on a fiscal year cycle and help cover general operating costs, capital campaigns and focused fundraising initiatives are targeted fundraising efforts that take place over a period of time and are designed to raise significant dollars. Campaigns may be focused on “brick-and-mortar” projects (for example, acquiring or renovating a new building), or growing an endowment for the future. Donors often commit major gifts and pledges, payable over several years.
Derby’s last campaign was a three-part comprehensive capital buildings project called “Derby Vision.” Derby Vision I raised $576,000 and was completed in 1995; Derby Vision II raised $6.6MM and was completed in 2000; Derby Vision III raised $1.2MM and was completed in 2003. This comprehensive campaign significantly changed the campus and is responsible for enhancements to the Christy’s Building, Roy Campus Center, McKelvey Gym, Lower School expansion, the Science Center, as well as increases to the School’s faculty Endowment Fund.
The Healey Family Center was a fundraising initiative completed in 2014. This new building project raised $230,000 from a small group of generous major donors.
The School is currently conducting a Strategic Plan, which will be followed by a Campus Master Plan. We will identify and prioritize several funding opportunities and expect to raise funds for Derby’s next capital campaign in the coming years.