Robb Resler, CFRE Alumni & Development Director | | Welcome from the Alumni & Development Director March, 2010 I am frequently asked why we have two distinctly different organizations involved in fund raising for the school and what is the role of each organization? Perhaps answering this question using the framework of and Who, What, and Where will offer clarity regarding the respective roles of the Academy and the Foundation.
Who: For any fund raising effort the most important place to start is to address “who” are the people and organizations willing and able to support Admiral Farragut Academy and the Foundation. The Academy and the Foundation are very fortunate to have a large base of potential donors through our current parents, our alumni, parents of alumni, grandparents, friends and corporate donors. Within each of these groups are segmented audiences to which specific fundraising appeals are directed. Everyone does not receive every appeal.
What: We achieve fund raising results through campaigns to request funds for specific purposes from specific groups of potential or known donors. In general these campaigns are divided into three large groups. First, the Annual Fund Campaign, which is received by everyone and provides for the operation of the school. Fund raising for this purpose allows us to keep tuition at a reasonable level. Few schools are able to run their institutions from tuition alone. Second, Specialty Campaigns provide opportunities for individuals to give in support of programs or initiatives that are personally important to them. Some of the Specialty Campaigns which are currently underway include fundraising for the Sailing Team, the Aviation Academy, the Marine Science Academy, the construction and completion of the Huntley Memorial Sports Complex, and the continued efforts for Dormitory Refurbishment. Third, is the Endowment Funds of the Foundation. Some of the campaigns for the Foundation include the Coaches Slaby and Nicholson Athletic Endowment Fund, The William R. Masciangelo, Sr. Fund for Student Enrichment, the Board of Directors Academic Chair Fund and the General Endowment for financial aid. We recognize that for long-term stability we must aggressively work to build these endowment funds and others. Information on each of the specific programs is available through our website at www.Farragut.org
Where: The “where” in this case becomes the two organizations which manage contributions - Admiral Farragut Academy and the Admiral Farragut Academy Foundation. In general, the Academy receives contributions which are to be used within the school’s fiscal year. If a donor makes a gift with more long-term intentions, this type of gift will be directed to one of the restricted or unrestricted funds of the Foundation. These contributions become a part of the Foundation’s endowment. By definition, the investment income generated by the Foundation is given annually to the Academy. In the case of restricted gifts, the income generated by these gifts can only be used for the specific purpose. Admiral Farragut Academy is the only beneficiary of the Foundation’s endowment and as such, the endowment serves as a source of financial strength and stability for the Academy.
It’s important that our donors are well-informed on exactly where their gifts are being put to work. Each year through Reveille and other means, we will work hard to showcase how gifts given in support of the Academy and the Foundation are being used for the benefit of our students and cadets. If you haven’t made your gift to the Annual Fund yet, CLICK HERE to make your gift now. If you have any questions please feel free to contact me at 727-343-3678 or rresler@farragut.org.
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